TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, March 7 /CNW/ - MAX Resource Corp., (TSX.v-MXR; OTCBB-MXROF;
Frankfurt M1D) is pleased to announce that it has been granted a drill permit
by the USDA Forest Service for its wholly-owned C de Baca Uranium property in
Socorro County, New Mexico.
The C de Baca Project comprises 108 uranium claims previously explored by
Occidental Minerals, an Occidental Petroleum company, in the 1980's.
Occidental Minerals 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 Occidental Minerals that define only the eastern
limits of the mineralized system, which may be open to expansion.
The drill program will be comprised of 14 drill holes and has been
designed to allow MAX to be able to confirm the historic drilling data in
order to enable a resource estimate in compliance with NI 43-101.
The C de Baca property is located 14 miles north of the town of Magdalena
and 100 miles south of Albuquerque, New Mexico. It has the potential for
in-situ uranium mining methods, a technique with a tiny footprint. In situ
recovery ("ISR"), also known as solution mining, involves leaving the ore
where it is in the ground and using non-toxic liquids which are pumped through
it to recover the minerals out of the ore by leaching. As a consequence, there
is little surface disturbance and no tailings or waste rock generated.
According to the World Nuclear Association, 21 percent of the world's uranium
production came about through ISR mining in 2004.
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.
(*) 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 Resource intends to upgrade any historic resource
figures to comply with NI 43-101 reporting standards on completion of
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