TSX-V Symbol: MXR
OTC BB Symbol: MXROF
Frankfurt: M1D
VANCOUVER, June 9, 2011 /PRNewswire/ - MAX Resource Corp.
(TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has commenced a
planned seven hole core drilling program at its Majuba Hill
Copper/Silver project in Pershing
County, Nevada. The company's initial
exploration program is designed to expand and define the extensive
zones of high grade copper/silver mineralization identified during
reverse-circulation drilling conducted by Minterra in 2007.
Highlights of Minterra's drilling included
145 feet at 1.85 opt Ag and 0.49% Cu, inclusive of
15 feet at 5.1 opt Ag (hole MH-6) and 100 feet at 0.99
opt Ag, inclusive of 15 feet at 4.0 opt Ag (hole
MH-5). Of 7 holes drilled by Minterra at the Copper
Stope target, 6 holes intercepted currently economic grades of
copper/silver mineralization. MAX believes that the seventh
hole was drilled in the wrong direction; this is the first hole in
the current program and will be drilled to the west at the same
location. The mineralized system is open to the north, east
and west and to depth.
The current drill program will deepen those
original holes which had been terminated while still in
mineralization, a fact which was only determined after receipt of
assay results, as well as targeting new mineralized zones that have
not previously been drilled. MAX feels that not only will
core drilling provide us with additional information on the geology
at Majuba Hill but may also allow for improved sample recovery and
more accurate assay results.
Soil sampling has been undertaken at Majuba on
two areas of copper/silver mineralization identified to the west
and to the east of the mineralized zone, where copper samples as
high as 7.2% Cu and 3.0 opt Ag in outcrop have been
reported by previous operators and have not yet been fully mapped
or explored. Copper oxide mineralization has been identified at
surface to the west of the current drill program and will be
permitted for drilling at a later date.
MAX believes that Majuba Hill is a newly defined
large scale intrusive-type porphyry system that is highly
prospective for the discovery of new zones of economic
copper/silver mineralization. The site of numerous past producing
mines, with historic production reported of 12% Cu (Mason Valley Copper in 1918) and silver grades
up to 40 opt Ag, Majuba Hill encompasses 2,568 acres of surface and
mineral rights that includes patented lode mining claims. The
property lies 30 miles northwest of Coeur d'Alene's Rochester mine (which has produced 127 million
ounces of silver and 1.5 million ounces of gold since 1986) and is
easily accessed via 23 miles of well-maintained dirt roads leading
from U.S. Interstate 80. For more detailed information on the
Majuba Hill copper/silver project, including project maps, please
visit our web site at www.maxresource.com.
This news release has been reviewed by
Clancy J. Wendt, P. Geo, a qualified
person as that term is defined under National Instrument
43-101. The historic information provided has not been
verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration
company with a diversified portfolio of mineral exploration
projects in the Western United States. We are currently
focused on precious metals in Nevada, where four gold and silver properties
are being actively explored in 2011. For more information, please
visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This News Release includes certain "forward
looking statements". Without limitation, statements regarding
potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. The following are
important factors that could cause MAX's actual results to differ
materially from those expressed or implied by such forward looking
statements: changes in the world wide price of mineral commodities,
general market conditions, risks inherent in mineral exploration,
risks associated with development, construction and mining
operations, the uncertainty of future profitability and the
uncertainty of access to additional capital.
SOURCE MAX Resource Corp.