MAX samples up to 1.53% Cu and 209 g/t Ag in soils at Majuba copper/silver project in Nevada; permitting underway for additional drilling
TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Sept. 15, 2011 /PRNewswire/ - MAX Resource Corp. (TSXV: MXR); (OTCBB: MXROF); (Frankfurt: M1D) has received and mapped the results of an extensive soil sampling program recently completed at its Majuba Hill copper/gold/silver project in Pershing County, Nevada. 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. Assay results are pending from an eight hole drill program completed in August.
On the northwest side of the Majuba Hill property, on unpatented land, assay results in soils ranged from 1.8 ppm Cu to as high as 15,300 ppm (1.53%) Cu and from nil to as high as 209 g/t Ag. This area is being permitted for drilling in late fall.
Sampling was also undertaken on the newly identified "Ball Park" target area 1 km east of the Copper Stope target area (where drilling was recently completed), following up on previously reported sample values of 106 g/t Ag and 3.6% Cu in outcrop. Soil samples taken by MAX from this area returned values from 61.2 ppm to 132 ppm Cu and from 0.16 ppm to 2.5 g/t silver; this area is also being permitted for drilling this fall.
In addition, MAX has 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 opt Ag over 16 feet. The second hole contained 2.0% Cu and 0.70 opt Ag over the entire 45 feet. This area, underneath the Copper Stope, will be explored during the coming fall drill program.
In 2008, Minterra Resource Corp. reported drill results from Majuba Hill that included 145 feet at 1.85 opt Ag and 0.49% Cu, inclusive of 15 feet at 5.1 opt Ag (hole MH-6) and 100 feet at 0.99 opt Ag, inclusive of 15 feet at 4.0 opt Ag (hole MH-5). Of 7 holes drilled by Minterra at the Copper Stope target, 6 holes reported currently economic grades of copper/silver mineralization. MAX recently completed an eight hole drill program to test these drill results as well as other target areas; all core has now been split and submitted to the laboratory, with assay results pending.
MAX believes that Majuba Hill is a newly defined large scale intrusive-type porphyry system that is highly prospective for the discovery of new zones of economic copper/silver mineralization. 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 opt 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, including project 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 currently focused on precious metals in Nevada, where four gold and silver properties are 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.