TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Oct. 19 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTC BB: MXROF)
has been advised that a High Resolution Aeromagnetic Gradiometer-Radiometric
Survey has been completed on the MacInnis Lake uranium project in Canada's
Northwest Territories. The Survey consisted of 2,093 line-kilometers at
100 meter line spacings and was flown by Fugro Airborne Surveys.
The Company believes that the Survey will provide valuable information
which will further enhance our uranium exploration capabilities by clearly
showing high definition conductive uranium targets at the MacInnis Lake
Uranium Project. The results from the Survey will be combined with archived
historical drill results to assist the Company in identifying exploration
drill targets to be scheduled for the summer of 2008. Drilling will be subject
to receiving the required regulatory permits.
The MacInnis Lake uranium claim block consists of 26,184.64 acres located
in the Nonacho Basin 150 km northeast of Fort Smith, Northwest Territories and
145 miles northwest of the Athabasca Basin situated in northern Saskatchewan.
The MacInnis Lake Uranium Project and claim-block is known to have
widespread surface uranium mineralization, and contains 28 high grade uranium
outcrops that were drilled extensively by Shell Oil, Uranerz and PNC
Exploration between 1954 and 1988. All uranium exploration and drilling
datasets have been archived and recorded by the Geological Survey of Canada
- the DUSSAULT, which has a non-compliant drill indicated inferred
resource of 37,000 tons grading 0.17% U308 (the occurrence appears
to be open down dip and along strike), values of 0.84% U308
intersected over 2 feet and high-grade samples recovered up to
- the COLE, with numerous trench samples with U308 values reported as
high as 3.16%, 5.13% and 20%; and
- the KULT, which has a surface showing 300m x 500m wide with surface
uranium and copper mineralization that returned grades up to 3.5%
Copper and 3.3% U308.
A Technical Report prepared in accordance with National Instrument 43-101
was previously completed on the MacInnis Lake Uranium Project for Alberta Star
Development Corp. (TSX.V: ASX; OTCBB: ASXSF) and is accessible on SEDAR. The
historic information provided above predates NI 43-101 and is for reference
only. The reader should not infer or assert that the information is correct,
reliable, relevant or accurate and it therefore should not be relied upon.
MAX has entered into an option agreement with Alberta Star Development
Corp. whereby MAX can earn a 50% interest in the MacInnis Lake Uranium Project
by incurring exploration expenditures totaling $2 Million over a five year
period. Alberta Star is the operator of the project.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian mineral exploration company that
identifies, acquires and finances advanced stage exploration projects. MAX is
currently focused on the discovery of uranium, precious metals and base
metals, with interests in properties in Alaska, Arizona, Nevada, New Mexico
and the Northwest Territories of Canada. For more information, please visit
our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
THE CONTENTS OF THIS NEWS RELEASE HAVE NEITHER BEEN APPROVED NOR
DISAPPROVED BY THE TSX VENTURE EXCHANGE.
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,