TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER, May 3, 2012 /PRNewswire/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has resumed core drilling at the Majuba Hill copper/silver/gold project
in Nevada. This Phase III drill program is permitted for up to 30
holes (5,000 m) that will test the southeast extension of near surface
high grade supergene oxide mineralization identified by MAX at the
historic Majuba Hill mine during 2011, as well as initiate delineation
drilling at the DeSoto discovery zone 1.4 km to the northwest with a
view to outlining an initial NI 43-101 compliant resource estimate by
the end of the year.
During Phase I drilling in 2011, MAX intercepted high grade
copper/silver oxide mineralization near surface over long intervals at
the past producing Majuba Hill mine. Highlights of this drilling
include:
-
96 m of 39.2 g/t Ag, 0.57% Cu and 0.10 g/t Au in hole MM-06
-
50.3 m of 50.8 g/t Ag, 0.31% Cu and 0.31 g/t Au in MM-07
-
42.7 m of 37.5 g/t Ag and 0.38% Cu in hole MM-03
The first hole of the current program, MM-21, is located approximately
250 m southeast of the middle portal of the past producing Majuba Hill
mine and will test a ridge of high grade oxide mineralization
identified during geologic exploration in 2011 that appears to extend a
further 500 m to the southeast to the "Ball Park" area, where hole
MM-17 intercepted 42.7 m of 16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of 51.0 g/t Ag. A map showing drilling locations from the 2011 exploration programs at
Majuba Hill, as well as the location of MM-21, is available on our web
site at www.maxresource.com.
During the fall of 2011 MAX drilled a further four step-out holes, with
hole MM-18 intercepting 29.2 m of 30.5 g/t Ag and 0.69% Cu 1.4 km to the northwest at the high grade DeSoto soil anomaly, which currently measures
approximately 2 km long by 1 km wide and returned values as high as 1.53% Cu and 209 g/t Ag in soils. This soil anomaly remains open to the south and east and appears to
extend at least another 1 km to the northwest onto additional land (560
acres) acquired by MAX in April, 2012. On completion of hole MM-21,
the drill rig will be moved to the DeSoto zone to begin an extensive
drill program to determine the overall grade and areal extent of the
high grade copper/silver oxide mineralization intercepted by hole
MM-18.
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, including maps showing the
results of soil sampling and the drilling completed to date, 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.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
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.
