TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER, Oct. 25, 2011 /PRNewswire/ - MAX Resource Corp.
(TSXV: MXR) (OTCBB: MXROF) (Frankfurt: M1D) has received the
assay results from the final four holes of an eight hole core
drilling program recently completed at its Majuba Hill
copper/silver project in Nevada. Highlights of this drilling
include:
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- 44.2 metres (m) of 71.0 grams per tonne (g/t) (2.28 oz/t)
Ag and 1.14% Cu in hole MM-06;
- 50.3 m of 50.8 g/t (1.63 oz/t) Ag, 0.31 g/t gold and
0.31% Cu in hole MM-07; and
- 45.7 m of 15.4 g/t (0.50 oz/t) Ag and 0.56% Cu in
hole MM-02 |
Holes MM-06, MM-07 and MM-02 were drilled to
test results reported by Minterra Resource Corp. from a
reverse-circulation drill program conducted in 2007 (see our news
release of March 4, 2011). This
drilling confirms higher results for both copper and silver than
previously reported by Minterra due to the improved sample recovery
provided by core drilling. In addition, significant gold (Au)
values were encountered in all drill holes; no gold assays had
previously been reported by Minterra, nor finding native gold in
the holes as we have.
Clancy Wendt, P.
Geo, VP Exploration of MAX, states "we are extremely pleased with
these results from our drilling at Majuba Hill. The
significant intervals of high-grade silver and copper intercepted
near surface in five of the eight holes, as well as the gold values
recently encountered, confirm that Majuba Hill is a newly-defined
copper/silver/gold porphyry system that is highly prospective for a
bulk-tonnage, open pit deposit."
The other drill hole completed at Majuba Hill,
MM-16 was sited further down Majuba Hill to test a surface feature
southwest of the area drilled by Minterra and intercepted anomalous
silver (ranging from 0.62 to 13.58 g/t Ag) and copper (from 0.01%
to 0.33% Cu) over its entire length.
The complete assay results from these final four
holes at Majuba Hill are as follows:
| Hole |
Azimuth |
Angle |
Total
Depth |
From
(m) |
To
(m) |
Thickness
(m) |
Cu
(%) |
Au
(g/t) |
Ag
(g/t) |
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| MM-07 |
290 |
-45 |
146.4 m |
76.2 |
126.5 |
50.3 m |
0.31% |
0.31 |
50.8 |
| includes |
|
|
|
106.7 |
126.5 |
19.8 m |
0.53% |
0.56 |
100.1 |
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| MM-06 |
- |
90 |
119.8 m |
1.5 |
97.5 |
96.0 m |
0.57% |
0.10 |
39.2 |
| includes |
|
|
119.8 m |
1.5 |
45.7 |
44.2 m |
1.14% |
0.15 |
71.0 |
|
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| MM-02 |
243 |
-70 |
122.8 m |
68.6 |
114.3 |
45.7 m |
0.56% |
0.07 |
15.4 |
| includes |
|
|
|
105.2 |
114.3 |
9.1 m |
0.54% |
0.11 |
39.3 |
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| MM-16 |
042 |
-45 |
111.2 m |
0 |
111.2 |
111.2 m |
0.06% |
- |
3.08 |
The assay results from the four holes previously
announced at Majuba Hill are as follows:
| Hole |
Azimuth |
Angle |
Total
Depth |
From
(m) |
To (m) |
Thickness
(m) |
Cu (%) |
Ag
(g/t) |
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|
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| MM-03 |
263 |
-70 |
158.6 m |
91.5 |
134.1 |
42.7 |
0.38% |
37.5 |
| includes |
|
|
|
102.1 |
112.8 |
10.7 |
0.93% |
90.2 |
| MM-05 |
279 |
-45 |
89.3 m |
0 |
89.3 |
89.3 |
0.28% |
16.5 |
| includes |
|
|
|
1.5 |
15.2 |
13.7 |
0.47% |
30.0 |
| MM-13 |
298 |
-56 |
135 m |
0 |
135.0 |
135 |
0.02% |
3.0 |
| MM-15 |
255 |
-45 |
257 m |
0 |
257.0 |
257 |
0.05% |
4.3 |
| includes |
|
|
|
137.2 |
161.6 |
24.4 |
0.09% |
12.3 |
Drill permits have been received and road
building is now underway for a Phase II drill program to test new
targets identified by MAX during soil sampling and mapping
conducted over a surface area in excess of 5,500 by 2,500 metres
(see our news release of September 15,
2011). Drilling will follow up on soil assay results
obtained as high as 1.53% Cu and 209 g/t Ag to the
northwest of our recent drilling as well as sampling from the "Ball
Park" target area immediately to the east, where Minefinders
reported significant copper and silver intercepts during drilling
conducted in 1972 (Minefinders Progress Report # 7). In addition,
MAX also plans to drill below the Copper Stope area of the past
producing Majuba Hill Mine, where the United States Bureau of Mines
reported assay results from short holes drilled underground in the
Copper Stope in 1943, including one that intercepted 2.0% Cu and
0.70 oz/t Ag over its entire 45 feet (USBM Report of Investigations
#4378, 1948).
Analysis was performed by Inspectorate American
Corp. Laboratories, an ISO certified facility in Reno, Nevada, using fire assay and
multi-element (ICP-ES) techniques producing assays for a 49 element
suite of minerals. Standards, duplicates and blanks were used
for quality control of the samples. After the core is logged for
each drill hole, the location of each site is located using a GPS
in UTM coordinates using NAD 27 datum. The core is then split
and put into a sample bag which is labeled for each interval and a
sample card tag put in each sample bag and taken from the core
facility to the Inspectorate Laboratories. A map showing the
location of the drill holes completed at Majuba Hill is now
available on our web site at www.maxresource.com.
Majuba Hill is the site of numerous past
producing mines, with historic production reported of 12% Cu
(Mason Valley Copper, 1918) and
silver grades up to 40 oz/t Ag, Majuba Hill encompasses 2,568 acres
of surface and mineral rights that includes patented lode mining
claims. The property is easily accessed via 23 miles of
well-maintained dirt roads leading from U.S. Interstate 80, and
lies 30 miles northwest of Coeur d'Alene's Rochester silver mine, which contains a NI
43-101 compliant Measured and Indicated Resource of 263.9 million
tons grading 0.46 oz/ton Ag and 0.004 oz/ton Au. (The Coeur
Technical Report on the Rochester Mine is available on SEDAR). For
more detailed information on the Majuba Hill copper/silver project,
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 focused on gold and silver exploration in Nevada. 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.