TSX-V Symbol: MXR
OTC BB Symbol: MXROF
Frankfurt: M1DVANCOUVER, May 7 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF;
Frankfurt: M1D) has received the results from drilling completed in 2008 at
the Ravin Molybdenum/Tungsten property in Nevada.
Drilling commenced at Ravin on July 10th but was severely hampered by
lack of water in the area and loss of circulation during drilling due to
silicified and broken quartz breccia. This resulted in poor core recovery,
drilling delays and additional costs. After completion of three diamond drill
holes ("DDH") a further five holes were completed at Ravin using a
reverse-circulation ("RC") drill. A map of these drill holes is available on
our web site at www.maxresource.com.The assay results from the diamond drill holes are as follows:
Drill Hole Number From/To Interval Mo%
-------------------------------------------------------------------------
(feet)
DDH 08-04 109.6-146.4 36.8 feet 0.0983
146.4-156.3 9.9 feet 0.0489
156.3-174.6 18.3 feet 0.2133
210.0-213.2 3.2 feet 0.1046
275.4-276.6 1.2 feet 1.397
292.0-295.0 3 feet 0.7368
320.0-341.5 21.5 feet 0.0884
405.0-421.4 16.4 feet 0.0832
441.6-451.2 9.6 feet 0.0713
471.0-477.0 6 feet 0.0616
484.1-502.1 18 feet 0.0466
DDH 08-8 565.8-575.8 10 feet 0.0945
Includes 699.0-709.4 10 feet 0.1024
Drill Hole Number From/To Interval Mo%
-------------------------------------------------------------------------
(feet)
DDH 08-11 36.8-47.0 10.2 feet 0.0476
51.8-57.0 5.2 feet 0.0571
90.0-93.5 3.5 feet 0.0653
167.3-188.6 21.3 feet 0.0549
226.8-230.8 4 feet 0.1848
274.4-281.9 7.5 feet 0.0766
317.4-331.1 13.7 feet 0.0336
344.8-350.6 5.8 feet 0.0622
387.5-392.7 5.2 feet 0.0850
407.7-411.4 4.3 feet 0.1265
476.3-479.0 3 feet 0.2059
494.7-498.0 3.3 feet 0.1875
Due to poor core recovery during diamond drilling, assay results from the
diamond drill holes have been reported only for those intervals for which
coherent core samples are available and these have all been listed in the
table above. High grade mineralization (greater that 0.6% Mo) reported at a
depth of 790 feet by Houston Oil and Minerals was not tested due to the water
problems, lost circulation and poor recoveries encountered, resulting in early
termination of our hole DDH-08-04.
The assay results from the reverse-circulation drilling completed at Ravin
are as follows:
Drill Hole Number From/To Interval Mo% Cu%
-------------------------------------------------------------------------
(feet)
RC 08-02 0-500 500 feet 0.022 0.039
Includes 10-20 10 feet 0.09
0-50 50 feet 0.045 0.06
400-450 50 feet 0.066 0.04
0-100 100 feet 0.031 0.097
350-500 150 feet 0.034 0.07
375-385 10 feet 0.14
RC 08-03 0-200 200 feet 0.055
Includes 50-100 50 feet 0.061
250-300 50 feet 0.026 0.062
RC 08-05 0-540 0.02 0.03
RC 08-07 0-300 300 feet 0.016
Includes: 50-100 0.023
250-300 0.03
RC 08-09 0-350 0.025 0.019
Includes 0-50 50 feet 0.032 0.029
50-150 100 feet 0.042The drilling completed at Ravin was designed to confirm historic drill
results reported by prior operators, such as Houston Oil and Minerals and
Freeport Exploration, and has done so. Assays have also indicated improved
molybdenum values over the historic values reported in holes RC 08-02, 08-03,
08-05 and 08-09, with copper values higher than expected. Although expected,
no tungsten values were encountered in the drill holes.
Mr. Clancy Wendt reports "We are pleased with the high-grade intercepts
achieved at Ravin in spite of the difficulties encountered during drilling in
2008, which served to restrict the scope of the drill campaign. While core
recovery was difficult and expensive, our first hole DDH-08-04 confirmed
extensive near surface high-grade molybdenum mineralization is present at
Ravin, with 36.8 feet of 0.0983% Mo encountered within 110 feet of surface and
molybdenum intercepts as high as 1.397%. Additional high grade intercepts were
also encountered in holes DDH 08-08 and DDH 08-11 as well as RC 08-02 and RC
08-03. We have now resolved the water problems at Ravin and devised a program
of loss circulation to increase recoveries. Further exploration work is being
planned in and around the intrusives."
The Ravin Property is comprised of 162 claims (13,240 acres) located 20
miles north of the town of Austin, Lander County, Nevada and approximately 50
miles west of General Moly, Inc.'s (AMEX & TSX: GMO) proposed Mount Hope
molybdenum mine.
Historically, the Ravin property has been explored by Union Carbide,
Houston Oil and Minerals and Freeport Exploration. Union Carbide drilled three
core holes with the deepest hole drilled to a depth of 500 feet. Houston Oil
and Minerals subsequently acquired the property in 1978 and drilled six core
holes in the Reward tungsten pit. As part of a regional rock and soil
geochemistry program, Houston Oil identified a coherent molybdenum soil
anomaly. They drilled two diamond drill holes and reported an intercept of 30
feet of 0.66% Mo at a depth of 790 feet in their hole RW 7-A. Our drill hole
RC 08-07 was not able to reach the high grade mineralization reported in RW
7-A due to lost circulation and broken ground problems.
Freeport optioned the property in 1981 and drilled 17 rotary and core
drill holes to test a molybdenum-copper-fluorine anomaly found within the
Cambrian sedimentary units. The anomalous zone showed strong structural
control and is thought to be associated with the contact zone of the Cadro
Pluton. All but 4 drill holes encountered molybdenum mineralization and many
contained significant mineralization. Some of the historic drill holes exist
in the form of reports and summaries of the drilling, exploration, drill logs
and assays but none of the original assay sheets are available. Highlights
included hole RW 80-7 (our drill hole DDH 08-11), where Freeport reported an
interval of 250 feet of 0.063% Mo beginning at a depth of 100 feet. The values
returned from our hole DDH-08-11, where core was recovered, are listed in the
table above and are higher than the 0.063% Mo reported by Freeport.
Max Resource has put in place a rigorous QA/QC program consistent with
National Instrument 43-101 and using best industry practice. The QA/QC program
consists of a carful chain of custody of samples from the field to the
laboratories, inclusion of standard and blank samples which were submitted to
American Assay & Environmental Laboratories, Reno, with each batch of samples
and a check assay program on a proportion of sample pulps with a second
laboratory is in progress. Results from the QA/QC program have to date been
satisfactory.
There has been no NI 43-101 Geological Report completed on the claims or
on the Ravin project. The historic information provided is for reference only
and the reader should not infer or assert that the information is correct,
reliable, relevant or accurate and it should therefore not be relied upon.
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.About MAX Resource Corp.
-------------------------
MAX Resource Corp. is a Canadian based exploration company with a
diversified portfolio of mineral exploration projects in Canada and the
Western United States. Our properties include Gold in Alaska, Nevada and
British Columbia, Uranium projects in the south western U.S. and northern
Canada, Molybdenum in Alaska and Nevada, and Gold in Alaska, Nevada and
British Columbia. 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.
For further information: Leonard MacMillan, Corporate Communication,
Telephone: (866) 331-5088 or (604) 637-2140, info@maxresource.com,
www.maxresource.com
