TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Aug. 10 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF;
Frankfurt: M1D) has received assays from a sample taken during a due diligence
site visit at Crowsnest conducted by MAX in June 2009. MAX's VP Exploration,
Clancy Wendt, noted visible gold mineralization near an area referred to as
the "discovery trench". Results have now been received for a sample of this
mineralization, which occurs in a silicified, quartz veined and pyritic
mineralized section of a monzonite intrusive. The sample exceeded the upper
detection limit of the laboratory for gold (greater than 100,000 ppb - 100
grams per tonne) and is being re-assayed by Acme Analytical Labs Ltd. using a
different technique to determine its full gold content.
Also of significance in the recent sample result is the high content of
tellurium (105.4 ppm). Several previous operators at Crowsnest, including
Placer Dome Inc., have suggested a number of comparables exist between the
Crowsnest Project and the Cripple Creek deposit located in Colorado. These
comparables include the tectonic setting, alkalic intrusive association and
occurrence of tellurium. Cripple Creek, in production since 1890, has produced
in excess of 23.3 million ounces of gold (to 2005) and continues to be mined
by Anglo Ashanti Gold Mining.
MAX has been advised by its option partner, Eastfield Resources Ltd.
(TSX-V: ETF), that the exploration permit has now been issued for the proposed
September 2009 drill program at Crowsnest. The Company is now making
arrangements to conduct a reverse circulation drill program at Crowsnest in
mid-September which will continue to explore the discovery trench area with
close spaced drill holes to find the extent of the high grade mineralization
and to define the direction and extent of the mineralized structure. The
discovery trench area was discovered in 1996 and trenched by Eastfield in
1999, resulting in a trench intercept of 8.57 g/t gold over 16.5 metres.
The Crowsnest gold project consists of 15 claims totaling 3,142 hectares
located in Southeast B.C., one and one half hours by gravel road south of the
town of Sparwood. Crowsnest is one of two gold exploration properties in B.C.
optioned from Eastfield, as announced in our news release of July 27, 2009.
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 is for reference only and the reader should
not infer or assert that the information is correct, reliable or accurate.
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, and Molybdenum in Alaska and Nevada. 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.
For further information:
For further information: Leonard MacMillan, Corporate Communication,
Telephone: (866) 331-5088 or (604) 637-2140, email@example.com,