TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, July 10 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF;
Frankfurt: M1D) is pleased to announce that drilling has begun at its Ravin
molybdenum/tungsten property in Lander County, Nevada. The Ravin property is
comprised of 162 claims located 20 miles north of the town of Austin in
Central Nevada and approximately 50 miles west of General Moly, Inc.'s (AMEX &
TSX: GMO) Mount Hope molybdenum mine, which is scheduled to begin production
in late 2010.
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
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 1.01% MoS2 (0.66%
Mo) in hole RW 7-A.
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, where Freeport reported an interval of 250 feet of
0.105 MoS2 (0.063% Mo) beginning at a depth of 100 feet.
Strong surface molybdenum and tungsten mineralization occurs within
Cambrian sediments which have been intruded by two separate Cretaceous
granitic to quartz monzonite plutons. The Raven Pluton is the largest and
crops out over an area of about 2 square miles. The smaller Cadro Pluton crops
out over a 1/2 square mile area in the northwest part of the property and
appears to be responsible for a majority of the hydrothermal alteration and
molybdenum mineralization seen on the project.
MAX has been permitted for an 11 hole drill program designed to follow up
on the previous drilling reported by Houston Oil and Minerals and Freeport and
to further the area of known mineralization.
The reports by Freeport and Houston Oil and Minerals are not NI 43-101
compliant and predated National Instrument 43-101. 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 should 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 Uranium projects in the south
western U.S. and northern Canada, Molybdenum in Alaska and Nevada, and Gold in
Nevada and British Columbia. For more information, please visit our web site
On behalf of the Board of Directors of
MAX Resource Corp.
The TSX Venture Exchange does not accept 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:
For further information: Leonard MacMillan, Corporate Communication,
Telephone: (800) 248-1872 or (604) 637-2140, email@example.com,