OTC BB: MXROF
VANCOUVER, Oct. 12, 2011 /PRNewswire/ - Max Resource Corp. (TSX.V: MXR) (OTCBB: MXROF) (Frankfurt: M1D) has received the results from the fourth hole of an eight hole (1,112 metre) drill program recently completed at its Majuba Hill copper/silver project in Nevada. This fourth hole, MM-05, intercepted 13.7 meters of 30.0 g/t (0.96 oz/t) Ag and 0.47% Cu within a longer interval of 89.3 m of 16.5 g/t (0.53 oz/t) Ag and 0.28% Cu. Assay results are pending from the remaining four holes.
Hole MM-05 was the second of five core holes drilled to test results reported by Minterra Resource Corp. from a reverse-circulation drill program conducted in 2007. This hole was drilled to a depth of 89.3 meters at the same location as Minterra's drill hole MH-05 and confirmed similar values for both copper and silver as those reported by Minterra. Our first drill hole testing Minterra's results, MM-03, (see our news release of September 27, 2011) intercepted 42.7 m of 37.5 g/t (1.21 oz/t) Ag and 0.38% Cu, inclusive of 10.7 m of 90.2 g/t (2.90 oz/t) Ag and 0.93% Cu. Hole MM-03 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.
The complete assay results from hole MM-05, as well as from hole MM-03 (previously reported), are as follows:
Permitting Underway for Fall Drill Program
A permit application has been filed for a fall drill program to test target areas identified by an extensive soil sampling program conducted by MAX to the west and east of the past producing Majuba Hill over a surface area in excess of 5,500 by 2,500 m (see our news release of September 15, 2011). Drilling will follow up on soil assay results obtained as high as 1.53% Cu and 209 g/t Ag to the north west of our recent drilling as well as sampling from the "Ball Park" target area immediately to the east, where Minefinders reported drilling 100 feet of 0.60% Cu and 14 g/t Ag starting at 280 feet in their angle hole MH-02 (Minefinders Progress Report # 7, 1972). In this same report, Minefinders also included the note for hole MH-3 that the "upper several hundred feet of the core show good copper staining." These historic results will be followed up during our upcoming fall drill program as well.
Analysis was performed by Inspectorate American Corp., 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.
Majuba Hill encompasses 2,568 acres of surface and mineral rights and is the site of numerous past producing mines, with historic production reported of 12% Cu (Mason Valley Copper in 1918) and silver grades up to 40 oz/t Ag. 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, including drill hole locations and soil sampling maps, 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.
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.