TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Dec. 2 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has filed permit applications for a 16 hole diamond drill program to be conducted at its recently acquired Table Top gold project in Humboldt County, Nevada. Prior to drilling, up to 12 trenches will be completed to expose the bed rock for sampling. The Table Top property consists of 32 claims (640 acres) located 10 miles northwest of the town of Winnemucca, Nevada, just off of the Interstate 80 highway.
MAX has been able to obtain a nearly complete set of geophysical, geological and geochemical data from one of the previous companies that worked on the property. The following is a synopsis of their work:
During the 1980's Gold Fields, Meridian Minerals and Santa Fe Mining conducted exploration on and around the Table Top property. A limited exploration program consisting of only ten reverse circulation drill holes was conducted to test anomalous, up to 1.1 grams per tonne ("g/t"), gold values in what was called jasperoid. Trenches containing gold values up to 4 g/t over 5 feet were tested by the first drill hole, which contained 55 feet of 0.84 g/t Au (0.027 opt) from the surface down. This hole was drilled vertically in a breccia zone. The remaining nine drill holes, which were wide-spaced (75-300 meters apart), contained little of significance. A follow up analysis showed that the holes may have been drilled in the wrong direction and should have been drilled to the south instead of to the north. MAX intends to test this theory during drilling, which will be undertaken in early 2010 following receipt of the necessary permits.
Table Top is located in the Triassic rocks of the Raspberry formation which can be split into two general types: a northwestern belt of sandstone, siltstone, and slate, locally calcareous but devoid of limestone; and a southeastern belt of calcareous sandstone, siltstone and slate with prominent massive limestone beds 5 to 100 feet thick. Bedding in these units trend northeast with steep dips to the southeast.
The mineralization in the Raspberry formation is generally in the form of silicification in veinlets and small pods in the limestone but in a few areas there is massive replacement of the limestone by silica. The silica, where sampled, usually contains gold with values as high as 15.5 g/t. Stibnite or stibnite casts can be found in the silica.
The Table Top area is on trend with AMAX's Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the recently announced Sandman gold deposit (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) 8 miles to the north, and the Gold Banks gold occurrence to the south. This zone of mineralization is along the Kings River Rift, a regional feature which appears to control mineralization in the area.
Clancy Wendt, VP Exploration states "In preparation for this drill program, MAX has obtained and reviewed aerial photos, geology maps, geochemical assay maps, and geophysics which covers IP, SP, and Magnetics, as well as data from the limited drilling conducted on the property. As a result, we have identified previously unreported structures that support our theory that prior drilling was drilled down the dip of the beds and thus missed the mineralized zone. We feel that the Table Top area is geologically favorable for the discovery of a medium-sized high grade, bonanza style gold deposit in a near surface environment."
For more information on Table Top, 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 with a diversified portfolio of mineral exploration projects in Canada and the Western United States. We are currently focused on gold, with three gold properties in Nevada and one in 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.
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.
For further information: For further information: Leonard MacMillan, Corporate Communication, Telephone: (866) 331-5088 or (604) 637-2140, firstname.lastname@example.org, www.maxresource.com