[Marinir] {Disarmed} MAX (TSX-V: MXR) Drills 6.4 m of 38.8 g/t Silver and 0.70% Copper; 7.8 m of 28 g/t Silver and 0.57% Copper
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Tue Oct 2 14:21:31 CEST 2012
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MAX step-out drilling extends mineralized oxide zone at DeSoto
discovery, Majuba Hill, Nevada; highlights include 6.4 m @ 38.8 g/t Ag
and 0.70% copper (105.1 g/t AgEq) and 7.8 m of 28 g/t Ag and 0.57% Cu
(81.5 g/t AgEq)
MAX Resource Corp. (TSX: MXR
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=MXR®ion=C&lookup=symbol&snapshot=default
OTCBB: MXROF
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=MXROF®ion=U&lookup=symbol&snapshot=default
; Frankfurt: M1D) has received assays from seven core holes (521 m)
drilled in June 2012 at the high grade silver/copper DeSoto soil
anomaly, 1.4 km to the northwest of the main mineralized zone at the
historic Majuba Hill mine in Nevada. These shallow step-out holes were
drilled to test the extension of near-surface oxide mineralization at
DeSoto, where the discovery hole, MM-18, intercepted 29.2 m of 30.5 g/t
Ag and 0.69% Cu (98.3 g/t silver equivalent("AgEq")) in the fall of
2011. The DeSoto soil anomaly was defined by soil sampling and measures
approximately 2 km long by 1 km wide, with values as high as 1.53% Cu
and 209 g/t Ag in soils. Significant copper and silver mineralization
was intercepted in four of the seven holes drilled, confirming DeSoto as
the second highly prospective mineralized zone to be identified by MAX
at Majuba Hill project. Highlights of this drilling at DeSoto included
7.8 m @ 28.0 g/t Ag and 0.57% Cu (81.5 AgEq) in hole DSM-02 and 6.4 m @
38.8 Ag and 0.70% Cu (105.1 g/t AgEq) in DSM-06.
The first hole of the June drill program, MM-21 (announced Sept 11,
2012), was drilled 250 m southeast of the middle portal of the
past-producing Majuba Hill mine and confirms the southeast extension of
near-surface high-grade supergene oxide mineralization identified by Max
at the historic Majuba Hill mine, where Phase I drilling by MAX in 2011
intercepted long intervals of high grade silver and copper
mineralization near surface in five holes. Hole MM-21 intercepted 4.6 m
@ 58.0 g/t Ag and 7.6 m @ 0.80% Cu within an overall mineralized
intercept of 332 m @ 12 g/t Ag and 0.13% Cu (23.9 g/t AgEq) in oxides
that began within 12 m of surface. Hole MM-21, combined with historic
data, serves to confirm the extension of the high-grade mineralized
system 500 m to the southeast of the Majuba Hill mine and to a depth of
at least 350 m from surface. We now believe that Majuba Hill is a
significant porphyry system with a chalcocite blanket; the next phase of
drilling at Majuba Hill will focus on the expansion of the known
mineralized zone within this target area.
Significant intervals from the DeSoto drilling are summarized in the
following table:
Hole Azimuth Angle Total
Depth From
(m) To
(m) Thickness
(m) Cu
(%) Ag
(g/t) AgEq
(g/t)
DSM-01 59 -45 128.8 71.6 73.1 1.5 0.50% 36.4 92.3
DSM-02 125 -45 66.3 3 4.7 2.7 0.58% 17.7 72.7
46.5 54.3 7.8 0.57% 28 81.5
Includes 52.8 54.3 1.5 2.13% 101.9 342.2
DSM-04 310 -64.3 16 9.1 10.7 1.6 0.34% 18.5 50.6
DSM-06 115 -45 31 6.1 7.6 1.5 0.39% 26 63.2
19.5 25.9 6.4 0.70% 38.8 105.1
Includes 19.5 21 1.6 1.26% 81.7 200.8
Includes 24.1 25.9 1.8 1.47% 65.6 204.6
Note: Silver equivalent is calculated based on 100% metallurgical
recovery and five-year historic metal prices of $24 U.S. for silver and
$3 U.S. per pound for Copper.
Hole DSM-02 was drilled 200 m northwest of the DeSoto discovery hole,
MM-18, and intercepted 7.8 m @ 28 g/t Ag and 0.57% Cu (81.5 g/t AgEq),
inclusive of 1.5 m of 101.9 g/t Ag and 2.13 % Cu . A further 310 m to
the northwest, hole DSM-06 intersected a separate mineralized zone that
included intervals of 1.6 m @ 81.7 g/t Ag and 1.26% Cu and 1.8 m @ 65.6
g/t Ag and 1.47% Cu within 26 m of surface. This initial shallow
drilling indicates the presence of high grade copper and silver
mineralization in the Auld Lang Syne formation at DeSoto and has
provided us with a better understanding of the structural fabric of the
system and the depositional environment. We believe that DeSoto is a
replacement system within the Auld Lang Syne formation; detailed
structural mapping and sampling will focus on the direction and
mineralogy of mineralization at DeSoto and its relationship to the
Majuba diking and main intrusive system on the Majuba property prior to
resumption of drilling.
Maps showing drilling locations from our exploration programs at Majuba
Hill are 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% copper (Mason Valley Copper, 1918) and silver
grades up to 40 oz/t Ag. The Majuba Hill project encompasses 3,128 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 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 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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