TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, June 5 /CNW/ - MAX Resource Corp. is pleased to announce that
it has received the results of the first drill hole at its wholly-owned C de
Baca uranium project in Socorro County, New Mexico. Results from the first
drill hole at C de Baca, CDB-1, confirm a historic drill result achieved by
Occidental Minerals ("Oxymin") of 5.5 feet of 0.043% eU308 at 300 feet and a
second mineralized zone of 4 feet of 0.024% eU3O8 at 317.5 feet.
The C de Baca Project is located 14 miles north of the town of Magdalena
and 100 miles south of Albuquerque, New Mexico and comprises 108 uranium
claims previously explored by Oxymin, an Occidental Petroleum company, in the
1980's. Oxymin drilled 216 holes, with the best drill hole intersecting
7.5 feet of 0.20% U(3)O(8) at a depth of 291 feet, and identified an
exploration target of 1.67 million tons grading 0.18% U(3)O(8) (approximately
6 million lbs of U(3)(O)8(*)). This information is taken from data MAX acquired
on the project in June 2006 which includes drill logs and thickness maps from
the original work done by Oxymin.
The current drill program is comprised of 14 drill holes and is designed
to allow MAX to be able to confirm the historic Oxymin drilling data in order
to enable a resource estimate in compliance with NI 43-101.
The first hole of the current program, CDB-1, is a twin of hole BR-23
drilled by Oxymin in the 1980's which contained:
Oxymin hole No. Total Depth Interval Mineralization
BR-23 520 feet 305.5 - 307.5 0.062% eU3O8
323.5 - 325.0 0.036% eU3O8
The current results achieved by MAX at CDB-1 were through gamma ray probe
readings by Jet West Geophysical Services LLC of Farmington, New Mexico and
MAX Hole No. Total Depth Interval Mineralization
CDB-1 378.0 feet 300 - 305.5 0.043% eU3O8
Containing 301.0 - 301.5 0.06% eU3O8
Containing 301.5 - 302.0 0.10% eU3O8
Containing 302.0 - 302.5 0.09% eU3O8
Containing 302.5 - 303.0 0.05% eU3O8
Second Zone 317.5 - 321.5 0.024% eU3O8
Clancy J. Wendt, VP Exploration for MAX Resource Corp., states "This
first hole confirms previous mineralization identified by Oxymin and has a
thicker zone of mineralization than the original Oxymin hole, as CDB-1 has
5.5 feet of 0.043% eU3O8 and a second zone of mineralization which contains
4 feet of 0.024% eU3O8 at a depth of 317.5 feet."
Gamma, Spontaneous Potential (SP), and Resistivity values were logged by
Jet West Geophysical Services LLC of Farmington, New Mexico. The Gamma portion
of the downhole logging tool was calibrated by uranium-industry standard
values located in mines at Grants, New Mexico. In situ uranium grades,
expressed as equivalent U3O8 ("eU3O8") are calculated using the digital gamma
ray values acquired by the downhole logging tool and uranium industry standard
techniques for gamma log interpretation. Downhole gamma log interpretation has
historically been found to be an accurate representation of in situ grades for
uranium mineralization in the Magdelana District. Historic drilling by
Occidental Minerals was compared to the current work and found to be identical
or that the present values were higher. Chemical assays of samples will be
done and used to determine relative trace element concentrations as a guide to
The C de Baca Uranium Project is managed by Mr. Clancy J. Wendt, P. Geo.,
and a Qualified Person as defined by National Instrument 43-101 guidelines.
This Press Release has been prepared and revised under the supervision of
Clancy Wendt, VP Exploration for Max Resource Corp. Stewart Brothers of
Grants, New Mexico is the drilling contractor. Sample recovery for lithologic
examination is excellent.
(*)Note: This report by Occidental Minerals was not NI 43-101 compliant
and predates NI 43-101. 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. MAX intends to upgrade any historic resource figures to
comply with NI 43-101 reporting standards on completion of drilling.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian mineral exploration company focused on
Uranium exploration, with properties in the U.S. and Canada. In addition, it
holds highly prospective gold properties in Nevada and Alaska that have
additional potential for Molybdenum (Alaska) and Zinc (Nevada). 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, firstname.lastname@example.org