TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Feb. 2 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF;
Frankfurt: M1D) has now received all assays from a ten hole diamond drill
program (7,664 feet) completed at the Gold Hill molybdenum/copper/gold project
in Alaska during 2008.
The 2008 drill program at Gold Hill followed up on a five hole drill
program MAX conducted in 2007 that intersected significant molybdenum
mineralization over long intervals starting at surface and ending in
mineralization at depth in four of the holes.
Complete results from MAX's 2008 drill program are as follows:
Drill Hole From Thickness Mo% Cu%
DDH-08-1 0-605 feet 605 feet 0.026%
including 190-350 feet 160 feet 0.043%
0-1020 feet 1020 feet 0.04%
including 500-815 feet 315 feet 0.064%
DDH-08-2 0-500 feet 500 feet 0.013%
0-650 feet 650 feet 0.039%
including 0-300 feet 300 feet 0.059%
DDH-08-3 0-575 feet 575 feet 0.013%
Including 300-450 feet 150 feet 0.021%
0-550 feet 550 feet 0.042%
DH-08-4 0-500 feet 500 feet 0.0027%
0-485 feet 485 feet 0.037%
DDH-08-5 0-670 feet 670 feet 0.03219%
Including 385-560 feet 185 feet 0.0533%
0-670 feet 670 feet 0.0425%
DDH-08-6 0-1000 feet 1000 feet 0.0429%
Including 150-250 feet 100 feet 0.0712%
750-850 feet 100 feet 0.058%
0-850 feet 850 feet 0.0266%
DDH-08-7 15-525 feet 510 feet 0.0506%
0-675 feet 675 feet 0.0124%
DDH-08-8 0-900 feet 900 feet 0.0316%
Including 850-900 feet 50 feet 0.1212%
600-925 feet 325 feet 0.0365%
DDH-08-09 0-100 feet 100 feet 0.0233%
0-100 feet 100 feet 0.009%
DDH-08-10 0-240 feet 240 feet 0.0306%
0-200 feet 200 feet 0.0199%
The 2008 drill program conducted at Gold Hill has expanded the identified
mineralized system to the north and northeast and lead to a better
understanding of the mineralized system. It has also drilled through
overburden, showing that molybdenum mineralization previously not observed at
the surface exists under Gold Hill. The system appears to continue to depth
and to the north and northeast. Drill holes 08-05,06,07,08 and 10 show the
vector of mineralization. Targets still exist in large areas between drill
holes and at depth beneath current drilling. A map showing the 2007 and 2008
drill site locations at Gold Hill is now available on our web site at
Highlights from MAX's 2007 drill program included:
DH-07-01 - 250 feet of 0.048% Mo
DH-07-03 - 1000 feet of 0.0348% Mo (including 45 feet of 0.108% Mo)
DH-07-04 - 250 feet of 0.03618% Mo
DH-07-05 - 352 feet of 0.04236% Mo
MAX's 2007 drill program was testing a broad Molybdenum/Copper/Gold
geochemistry and geophysical magnetic anomaly covering an exposed outcrop area
of at least 700 by 800 meters. Drilling in 2008 showed that mineralization
continued under covered areas that did not contain a molybdenum geochemistry
signature. Prior drilling by the New Alaska Syndicate (Cities Services
Minerals and Dome Mines Ltd.) at Gold Hill in the 1970's never tested the
significant magnetic anomaly that coincides with the mineralization or the
surrounding sedimentary rocks.
Gold targets outlined by previous exploration (including drilling
conducted by MAX in 2004) were not tested during the 2007 or 2008 exploration
seasons. These include four additional zones and structures identified by MAX
in 2004, including a major structure with approximately one meter of
mineralization grading 14.4 g/t gold and 0.18% copper, and a sheeted zone
where values of 7.9 g/t gold and 1.1% copper were found in the fractures.
These areas are now being considered for further exploration in 2009.
The Gold Hill property comprises 8,520 acres located approximately 212
miles north northeast of Anchorage and is accessible to within five air miles
of the property by the all-weather unpaved Denali Highway (State Highway 8).
MAX can earn up top a 90% interest in the Gold Hill Claims from GCO
Minerals Company by completing US$2.25 Million in exploration work by December
31, 2011. MAX is ahead of schedule with respect to this work obligation,
having now spent in excess of US$2.1 Million on exploration at Gold Hill, with
no further work exploration now required until 2011.
QA / QC (Quality Control and Quality Assurance): Core material was
collected at the drill site and placed in core boxes under the supervision of
an experienced geologist. It was logged for rock type, alteration, structure,
and recorded with detailed descriptions. Core was split using a hydraulic core
splitter and one-half was sent to the Alaska Assay Laboratories. The other
half is kept at MAX's core storage facility in Anchorage. Drill holes were
sampled at five foot sample intervals. Samples were delivered in sealed bags
to the Alaska Assay Labs facility in Fairbanks, Alaska for sample preparation.
Alaska Labs is using a 2 acid digestion and a 30 Element AES ICP Scan. The
assays contained both blanks and standards for quality checking.
Sample Preparation quality control at Alaska Assay Labs includes strict
chain of custody documentation, careful logging of samples documentation,
careful cleaning of all equipment documentation, careful monitoring of crush
and grind particle size documentation, and careful protocol documentation
following ISO9002/17025 guidelines. Check samples of selected drill holes were
sent to both Skyline Assays labs in Tucson, Arizona and at American Assay labs
in Reno, Nevada to check for continuity.
QP (Qualified Person): Max's exploration program was supervised by Clancy
J. Wendt, P.Geo., who is a qualified person as defined in National Instrument
43-101 for this disclosure and supervised the preparation of the technical
information in this news release.
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 Uranium projects in the south
western U.S. and northern Canada, Molybdenum in Alaska and Nevada, and Gold in
Alaska, 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: (866) 331-5088 or (604) 637-2140, email@example.com,