TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER,
Dec. 14, 2011 /PRNewswire/ - MAX
Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D)
has completed additional soil sampling and a Phase II core drilling
program at its Majuba Hill copper/silver project in Nevada, where drilling earlier this year
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.
Four holes were drilled to test new target areas
identified during mapping, data compilation and soil sampling
conducted at Majuba Hill during 2011 (see our news release of
September 15, 2011). The first drill
hole of the program (MM-17) was 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 (Ag) and 1.14% copper (Cu) commencing
within 5 feet of surface in hole MM-06. Hole MM-17 is
located approximately 730 meters to the east of hole MM-06 and was
the first of two holes planned to test the eastern extension of the
high grade mineralized zone we've identified at Majuba
Hill. The other hole in this area, MM-20, was drilled
approximately 150 meters to the south east of hole MM-06 to test
mineralization identified by previous operators underneath the past
producing Majuba Hill mine.
The second and third holes of the program (MM-18
and MM-19) were drilled to test a mineralized zone identified
during soil sampling conducted 1.4 km to the northwest of hole
MM-06 and were collared near the past producing DeSoto silver
mine. A total of 834 soil samples were taken at Majuba Hill
during the summer of 2011 and identified a copper/silver soil
anomaly at DeSoto approximately 1.5 km long by 500 m wide that
remains open to the south and east and returned values as high as
1.53% Cu and 209 g/t Ag in soils. In addition to
drilling, MAX completed an additional 137 sample soil geochemistry
program at DeSoto to test the southern limits of this newly defined
soil anomaly, with assay results from both drilling and sampling
expected in January 2012.
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,
including maps showing the results of soil sampling and the
drilling completed to date, please visit our web site at
www.maxresource.com.
MAX would also like to announce that it has
accepted the resignation of Tim
Coupland as a director of the Company, effective
immediately. We would like to thank Mr. Coupland for his
service to the Company and wish him success in his future
endeavours.
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.