OTC BB: MXROF
VANCOUVER, Oct. 23 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF;
Frankfurt: M1D) has completed five holes totaling 1,035 metres (3,400 feet) at
the Indata gold/copper property in Central British Columbia, located
approximately 120 kilometres northwest of the town of Fort St. James.
At Indata, lode gold is being targeted following the Mother Lode model
developed in California. In early 2008, MAX completed a review of historic
work at Indata and concluded that very little exploration had been done in the
down dip direction of the previous drilling. If the Indata property was indeed
a Mother Lode style system, then significant down dip extension of previously
found mineralization could be expected. Twenty-four historic diamond drill
intercepts, drilled by Eastfield Resources Ltd. (TSX.V:ETF) at Indata in 1988
(and financed by Placer Dome through private placements), have an average vein
intercept of 1.54 metres width with an average grade of 8.41 g/tonne gold and
52.43 g/tonne silver. The most significant intercept, hole 88-11, included an
intercept of 47.26 g/t gold and 2.00 g/t silver over 4 metres (estimated to be
3.5 true thickness).
Four holes were completed in the gold target at Indata during the current
program with all holes encountering variable thicknesses of quartz sulfide
mineralization. A fifth hole was completed in an adjacent and possibly
unrelated porphyry copper target. A map indicating the location of the current
drill holes is available on our web site at www.maxresource.com.
Indata is one of two exploration projects in British Columbia recently
optioned from Eastfield Resources, as announced in our news release of June 9,
MAX has completed four separate drill programs in 2008, at Gold Hill in
Alaska (molybdenum), Ravin in Nevada (molybdenum), Howell in B.C. (gold) and
now at Indata. Drill results from these programs are expected to be available
over the coming weeks. MAX remains well-financed, with $4.7 Million in cash
and cash equivalents as of the date of this news release.
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.
About MAX Resource Corp.
MAX Resource Corp. is a well-financed Canadian based exploration company
with a diversified portfolio of mineral exploration projects in Canada and the
Western United States. Our properties include Uranium projects in the south
western U.S. and northern Canada, Molybdenum in Alaska and Nevada, and Gold in
Nevada and 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.
The TSX Venture Exchange does not accept 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: (800) 248-1872 or (604) 637-2140, firstname.lastname@example.org,