TSX-V Symbol: MXR
OTC BB Symbol: MXROF
Frankfurt: M1D
VANCOUVER, Aug. 8, 2011 /PRNewswire/ - MAX Resource Corp.
(TSX.V: MXR) (OTCBB: MXROF) ( Frankfurt: M1D) has completed
an extensive soil sampling program across a surface area in excess
of 5,000 x 2,500 meters (m) at its Majuba Hill
copper/gold/silver project in Pershing
County, Nevada. A total of 834 soil samples were
taken. As a result of this exploration activity, additional
targets have been identified and the seven hole drill program at
Majuba Hill was expanded to include an additional hole on one of
these new exploration targets. A total of 1,112 meters of
core drilling was completed at Majuba Hill; assay results from both
programs are pending.
The results of this soil sampling will assist in
identifying high priority drill targets for further drilling
planned for late fall at three new untested target areas at Majuba
Hill that could significantly expand the mineralized zone.
Along the northwest side of the Majuba Hill property, extensive
sampling was undertaken to follow up on silver (Ag) values up to
980 g/t Ag, as well as 2% Copper (Cu), reported by Minterra
Resource Corp. in 2008. In the southern portion of the
property area, sampling followed up on values of up to 792 g/t Ag
reported near the site of the Last Chance Silver Mine. The
Last Chance Silver Mine is a past producing mine, where production
of 40 opt silver was reported in the early 1900's. In
addition, sampling was undertaken on the newly identified "Ball
Park" target area one km east of the Copper Stope target area
(where drilling was just completed), following up on previously
reported sample values of 106 g/t Ag and 3.6% Cu.
The current drill program at Majuba Hill
commenced in June 2011 on patented
land at the Copper Stope target area, the site of the past
producing Majuba Hill mine. The drill program was 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 reported currently economic grades of
copper/silver mineralization. The mineralized system is
currently open to the north, east and west and to depth.
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 include 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 Mr.
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.