TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER,
Sept. 27, 2011 /PRNewswire/ - Max
Resource Corp. (TSXV: MXR); (OTCBB: MXROF); (Frankfurt: M1D)
has received initial results from an eight hole drill program
recently completed at its Majuba Hill copper/silver project in
Nevada. A total of eight
holes (1,112 meters) were drilled at Majuba Hill and results
received from the first three holes include an intercept of 42.7
m of 37.5 g/t Ag and 0.38% Cu in hole MM-03, inclusive
of 10.7 m of 90.2 g/t Ag and 0.93% Cu. Drill results
from the remaining five holes are pending.
Hole MM-03 was the first of four holes 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 hole was drilled to a depth of 122.5 meters
at the same location as Minterra's drill hole MH-03. This core
drill hole confirmed higher results for both copper and silver than
previously reported, with some silver results almost double those
reported by Minterra due to the improved sample recovery provided
by core drilling. Over the entire length of hole MM-03, a
comparison of assay results showed an average 49.4% increase in
copper values and 43.4% increase in silver values over the results
announced by Minterra in 2008.
The other two drill holes at Majuba Hill, MM-13 and
MM-15, were drilled at the top of Majuba Hill to test zones outside
of the area drilled by Minterra and intercepted anomalous copper
and silver (in excess of 3 g/t Ag) over their entire
length. Hole MM-13 was drilled above hole MM-03 and to the
north west, to test areas of strong surface copper soil anomalies
from earlier work conducted by Mine
Finders, while Hole MM-15 was drilled at the same location
to the south east on the west side of the Majuba fault to test the
potential of that area.
The complete assay results are as follows:
Hole |
Angle |
Total Depth |
From (m) |
To (m) |
Thickness (m) |
Cu (%) |
Ag (g/t) |
|
|
|
|
|
|
|
|
MM-03 |
-70 |
158.6 |
91.4 |
134.1 |
42.7 |
0.38% |
37.5 g/t |
includes |
|
|
102.1 |
112.8 |
10.7 |
0.93% |
90.2 g/t |
includes |
|
|
106.7 |
108.2 |
1.5 |
2.23% |
364.6 g/t |
MM-13 |
-56 |
135 m |
0 |
135.0 |
135 |
0.02 |
3.04 g/t |
MM-15 |
-45 |
257 m |
0 |
257.0 |
257 |
0.05 |
4.3 g/t |
includes |
|
|
137.2 |
161.6 |
24.4 |
0.09 |
12.3 g/t |
MAX recently completed and mapped the results of an
extensive soil sampling program at Majuba Hill (see our news
release of September 15, 2011) where
a total of 834 soil samples were taken across a surface area in
excess of 5,000 by 2,500 meters (m) with assay results obtained as
high as 1.53% Cu and 209 g/t Ag. In addition,
MAX acquired historic reports prepared by the United States Bureau
of Mines (USBM Report of Investigations #4378, 1948) that reported
assay results from drilling undertaken at the past producing Majuba
Hill mine in 1943. The USBM drilled two short horizontal holes
into the walls of the drifts, aimed toward the west. The first
hole averaged 0.73% Cu over its entire length of 46 feet and 0.75
oz/t Ag over 16 feet. The second hole contained 2.0% Cu and
0.70 oz/t Ag over the entire 45 feet. This area, underneath
the Copper Stope, will be explored during the coming fall drill
program.
Clancy Wendt, P.
Geo, VP Exploration of MAX Resource Corp., states "we are extremely
pleased with these initial results from our drilling at Majuba
Hill. The high-grade silver and copper results from hole
MM-03, combined with the recent soil sampling results that indicate
that high-grade copper and silver mineralization exists well beyond
the immediate area of the past producing Majuba Hill mine, serves
to confirm our theory that Majuba Hill is a newly defined
copper/silver porphyry system that is highly prospective for the
discovery of economic mineralization. We eagerly look forward
to receipt of the outstanding assays from the five additional holes
drilled at Majuba Hill and to further drilling later this fall on
the new target areas we have identified."
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 14 element
suite of minerals. Standards and duplicates 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 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, 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 well-funded, and currently focused on
precious metals in Nevada, with
four gold and silver properties 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.