TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER,
March 4, 2013 /PRNewswire/ - MAX
Resource Corp. (TSXV: MXR); (OTCBB: MXROF); (Frankfurt: M1D)
has received the preliminary report by John
Fox, P.Eng., Consulting Metallurgical Engineer of
Laurion Consulting Inc. on the test work carried out on samples
from it's wholly-owned Majuba Hill copper/silver project in
Nevada by Inspectorate Exploration
& Mining Services in Richmond,
B.C.
A total of fourteen samples of assay sample
reject material (crushed to 6 mesh) were received at Inspectorate
and these were made into a single composite weighing 58
kg. A sub sample was taken for head analysis and
indicated a grade of 0.62% Cu and 34.6 g/t Ag.
A series of bottle roll acid tests were carried
out with sulphuric acid at pH 1.3 on material running 6 mesh and on
material ground to 200 mesh. After 14 days of
leaching the copper extraction was 81.1% and 84.6%
respectively. These results indicate the potential for heap
leaching copper in a relatively short leach cycle, with acid
consumption modest at 25kg/t, which is in line with
expectations.
Leach testing was also conducted with
thiosulphate over a six hour period and 24 hour period.
Leaching was carried out at pH8 on the two samples, 6 mesh
(un-ground) and 200 mesh. Silver extraction of 73.4% was
achieved on ground material, which was 30% higher than on
un-ground material. Thiosulphate leaching is normally very rapid;
the difference between ground and un-ground leach recoveries may
disappear over a longer leach cycle. Moreover, the silver leach
value has not been optimized and it is expected that silver
recovery may increase with longer leach times.
While cyanide leaching of sulfuric acid leach
residue was also undertaken and gave about a 70% recovery, the
thiosulphate leach route may be preferred because of reduced
reagent costs (less lime required to neutralize acid to pH8 rather
than pH10, and less consumption of lixivient as thiosulphate is not
consumed leaching excess copper) as well as for environmental
considerations.
Clancy Wendt, VP
Exploration of MAX, states: "We are extremely pleased by these
preliminary results, which demonstrate the feasibility of utilizing
low-cost heap leach mineral extraction technology at Majuba
Hill. Test work is still ongoing with respect to longer term
thiosulphate leaching, with a number of processing methods also
being examined and tested, with a view to determining the optimum
recovery system for Majuba Hill."
Drilling by MAX in 2011 and 2012 intercepted
high-grade copper/silver supergene oxide mineralization over long
intervals starting at surface, confirming that Majuba Hill is
highly prospective for the development of a bulk-tonnage, open-pit
deposit. Permitting is underway for a development drill
program at Majuba Hill designed to define an initial NI 43-101
compliant inferred resource estimate by the end of 2013.
Majuba Hill is the site of numerous past
producing mines, with historic production reported of 12% copper
(Mason Valley Copper, 1918) and
silver grades up to 40 oz/t Ag. The Majuba Hill project
encompasses 3,128 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 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, silver and copper exploration in
Nevada. Our other Nevada properties include East Manhattan Wash
(Gold) in the Manhattan Mining District, Nye County and Diamond
Peak (Gold/Silver/Zinc) at the south end of the Carlin Trend
in Eureka County.
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.