MAX begins exploration at historic Majuba Hill Copper/Gold/Silver Property in Nevada; excavation underway for April drill program
TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, March 30 /PRNewswire/ - MAX Resource Corp. (TSXV: MXR) (OTCBB: MXROF) (Frankfurt: M1D) has begun exploration at its newly acquired Majuba Hill Copper/Gold/Silver property in Pershing County, Nevada (see our news release of March 4, 2011). Excavation of drill sites has begun, with core drilling scheduled to begin in April 2011 following completion of drilling currently underway at MAX's nearby Table Top gold project.
Majuba Hill is the site of a number of past producing high-grade copper, gold and silver mines. Our initial exploration program is designed to expand and define the current zones of copper/silver mineralization as well as explore new areas of the property where significant gold and silver values have been reported but not yet followed up.
Majuba Hill encompasses 2,313 acres of surface and mineral rights consisting of patented and unpatented lode mining claims and private mineral rights. Majuba Hill is 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. The property is located halfway between the Florida Canyon Mine (Jipangju) and the Hycroft Mine (Allied Nevada Corporation) within the Western Nevada Gold Belt and is easily accessed via 23 miles of well-maintained dirt roads leading from U.S. Interstate 80.
Initial Exploration Targets - Myler and Last Chance
Initial drilling at Majuba Hill will explore two areas, the Myler Target Area and the Last Chance Mine.
Since 1907, production and exploration at Majuba Hill has produced outstanding copper results with associated silver and gold. Published production data show that prior to 1947 Mason Valley Mines Co. and Greenan-Kerr produced 4,000 tons @ 12 % Cu and slightly less than 23,000 tons @ 4% Cu respectively in the Myler Target Area. During reverse-circulation drilling at the Myler Target area in 2007-2008, Minterra Exploration reported a number of high-grade drill intercepts, such as 145 ft @ 1.85 opt Ag and 0.49% Cu, inclusive of 15 feet @ 5.01 opt Ag (hole MH-6) and 100 ft @ 0.99 opt Ag, inclusive of 15 feet @ 4.00 opt Ag (hole MH-5).
The Last Chance Mine was developed along a fault with a trend similar to the Majuba Fault. Last Chance operated intermittently and produced silver (up to 40 opt Ag), lead (up to 15%), and gold (up to 0.10 opt Au) from an 830 foot tunnel and a 117 foot deep shaft. No drilling or exploration appears to have ever been completed down dip or along the strike of the fault at Last Chance.
Subsequent exploration at Majuba Hill will be expanded to include the Line Drive Adit and Section 35 areas. Mine Finders and Minterra conducted initial soil and rock sampling at both the Line Drive Adit and Section 35 that indicates that they are highly prospective for gold as well as copper and silver, with rock chip samples reported as high as 10 g/t Au and 981 g/t Ag.
This news release has been reviewed by Clancy J. Wendt, P. Geo, a qualified person as that term is defined under National Instrument 43-101. Any 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 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.
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.