TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER, Oct. 31, 2011 /PRNewswire/ - MAX Resource Corp.
(TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has commenced a
Phase II core drilling program at its Majuba Hill
copper/silver/gold project in Nevada, where recent drilling encountered long
intervals of high-grade silver and copper near surface in five of
eight holes, as well as significant gold intercepts. MAX
believes that Majuba Hill is a newly-defined copper/silver/gold
porphyry system that is highly prospective for a bulk-tonnage, open
pit deposit.
MAX plans to drill a minimum of four holes to
test new target areas identified during mapping, data compilation
and soil sampling conducted over a surface area in excess of 5,500
by 2,500 metres during 2011 (see our news release of September 15, 2011). The first drill hole of the
program (MM-17) has been collared on the "Ball Park" target area
immediately to the east of our Phase I drill program completed this
summer, where drill results included intercepts of 44.2 m of
71.0 g/t silver and 1.14% copper commencing within 5 feet of
surface in hole MM-06 (see the listing of drill results in the
table below). Hole MM-17 is located approximately 730
meters to the east of hole MM-06 and is the first of two holes
planned to test the eastern extension of the high grade mineralized
zone we've identified at Majuba Hill. Targeting of these
drill holes was determined through analysis of work done by
Freeport Sulphur in 1941 and progress drilling reports obtained
from Minefinders, which reported significant copper and silver
drill intercepts during exploration conducted in 1972 (Minefinders
Progress Report # 7). A third hole is planned to the
southeast of our recent Phase 1 drilling to test the depth and
extent of the known mineralized zone below and east of the past
producing Majuba Hill mine and has been targeted based on our
recent examination of skeletonized drill core from Minefinders
drilling in 1972 that had been stored at the Nevada Bureau of Mines.
The fourth and fifth drill holes are planned to
test for the extension of the mineralized zone approximately 1.4
kilometers to the northwest of hole MM-06, following up on soil
assay results obtained as high as 1.53% Cu and 209 g/t
Ag. Maps showing the results of this soil sampling and the
drill holes planned at Majuba Hill are now available on our web
site at www.maxresource.com.
Highlights from MAX's recently completed Phase I
drill program include:
| Hole |
Azimuth |
Angle |
Total Depth |
From
(m) |
To
(m) |
Thickness
(m) |
Cu
(%) |
Au
(g/t) |
Ag
(g/t) |
| 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 |
| |
|
|
|
|
|
|
|
|
|
| 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 |
| |
|
|
|
|
|
|
|
|
|
| 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-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-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 |
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.