[Marinir] {Disarmed} MAX (TSX-V: MXR) Drills 44.2 m of 71.0 g/t (2.28 oz/t) Silver and 1.14% Copper at Majuba Hill, Nevada
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Tue Oct 25 14:37:36 CEST 2011
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MAX drills 44.2 m of 71.0 g/t (2.28 oz/t) Silver and 1.14% Copper at
Majuba Hill, Nevada
Max Resource Corp. (TSX Venture Exchange: MXR
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=MXR®ion=C&lookup=symbol&snapshot=default
; OTCBB: MXROF; Frankfurt: M1D) has received the assay results from the
final four holes of an eight hole core drilling program recently
completed at its Majuba Hill copper/silver project in Nevada. Highlights
of this drilling include:
44.2 metres (m) of 71.0 grams per tonne (g/t) (2.28 oz/t) Ag and 1.14%
Cu in hole MM-06;
50.3 m of 50.8 g/t (1.63 oz/t) Ag, 0.31 g/t gold and 0.31% Cu in hole
MM-07; and
45.7 m of 15.4 g/t (0.50 oz/t) Ag and 0.56% Cu in hole MM-02
Holes MM-06, MM-07 and MM-02 were 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 drilling
confirms higher results for both copper and silver than previously
reported by Minterra due to the improved sample recovery provided by
core drilling. In addition, significant gold (Au) values were
encountered in all drill holes; no gold assays had previously been
reported by Minterra, nor finding native gold in the holes as we have.
Clancy Wendt, P. Geo, VP Exploration of MAX, states "we are extremely
pleased with these results from our drilling at Majuba Hill. The
significant intervals of high-grade silver and copper intercepted near
surface in five of the eight holes, as well as the gold values recently
encountered, confirm that Majuba Hill is a newly-defined
copper/silver/gold porphyry system that is highly prospective for a
bulk-tonnage, open pit deposit."
The other drill hole completed at Majuba Hill, MM-16 was sited further
down Majuba Hill to test a surface feature southwest of the area drilled
by Minterra and intercepted anomalous silver (ranging from 0.62 to 13.58
g/t Ag) and copper (from 0.01% to 0.33% Cu) over its entire length.
The complete assay results from these final four holes at Majuba Hill
are as follows:
Hole Azimuth Angle Total Depth From (m) To Thickness (m) Cu Au Ag
(m) (%) (g/t) (g/t)
MM-07 290 -45 146.4 m 76.2 126.5 50.3 m 0.31% 0.31 50.8
includes 106.7 126.5 19.8 m 0.53% 0.56 100.1
MM-06 - 90 119.8 m 1.5 97.5 96.0 m 0.57% 0.1 39.2
includes 119.8 m 1.5 45.7 44.2 m 1.14% 0.15 71
MM-02 243 -70 122.8 m 68.6 114.3 45.7 m 0.56% 0.07 15.4
includes 105.2 114.3 9.1 m 0.54% 0.11 39.3
MM-16 42 -45 111.2 m 0 111.2 111.2 m 0.06% - 3.08
The assay results from the four holes previously announced at Majuba
Hill are as follows:
Hole Azimuth Angle Total Depth From (m) To (m) Thickness (m) Cu Ag
(%) (g/t)
MM-03 263 -70 158.6 m 91.5 134.1 42.7 0.38% 37.5
includes 102.1 112.8 10.7 0.93% 90.2
MM-05 279 -45 89.3 m 0 89.3 89.3 0.28% 16.5
includes 1.5 15.2 13.7 0.47% 30
MM-13 298 -56 135 m 0 135 135 0.02% 3
MM-15 255 -45 257 m 0 257 257 0.05% 4.3
includes 137.2 161.6 24.4 0.09% 12.3
Drill permits have been received and road building is now underway for a
Phase II drill program to test new targets identified by MAX during soil
sampling and mapping conducted over a surface area in excess of 5,500 by
2,500 metres (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 northwest of our recent drilling as well as sampling from the
"Ball Park" target area immediately to the east, where Minefinders
reported significant copper and silver intercepts during drilling
conducted in 1972 (Minefinders Progress Report No. 7). In addition, MAX
also plans to drill below the Copper Stope area of the past producing
Majuba Hill Mine, where the United States Bureau of Mines reported assay
results from short holes drilled underground in the Copper Stope in
1943, including one that intercepted 2.0% Cu and 0.70 oz/t Ag over its
entire 45 feet (USBM Report of Investigations #4378, 1948).
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 49 element
suite of minerals. Standards, duplicates and blanks 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
http://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 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 copper/silver project, please visit our web site at
www.maxresource.com
http://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 and
silver exploration in Nevada. For more information, please visit our web
site at www.maxresource.com
http://www.maxresource.com
.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (866) 331-5088 or (604) 637-2140
info at maxresource.com www.maxresource.com
http://www.maxresource.com
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.
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