TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Aug. 29 /CNW/ - MAX Resource Corp (TSX.V: MXR; OTC BB: MXROF)
announces that assays have been received from the top half of drill hole
DH-07-1 on the Gold Hill Molybdenum Property in Alaska. Assays for the top 540
feet returned 0.054% MoS(2) and include a 250 foot intercept of 0.08% MoS(2)
(See table below for details). This hole was drilled to a depth of 1,000 feet
however, due to the current backlog of work at assay laboratories in Alaska,
assays below 540 feet have not yet been completed. Mineralization was noted
throughout the hole however no conclusions can be drawn as to the nature or
extent of such mineralization prior to the receipt of assays.
The current drilling program is designed to follow up on historic work
and assay results obtained by the New Alaskan Syndicate (Cities Services
Minerals and Dome Mines) in the 1970's. The early results for molybdenum from
this hole have exceeded the previous results reported by the New Alaskan
Syndicate at this location.
To date, MAX has drilled a total of four holes (assay results are
pending) at Gold Hill and expects to complete one additional hole before the
end of the exploration season in early September.
The partial results for DH 07-01 are as follows:
Drill Hole Interval Width Mineralization
DH 07-1 0-540 540 feet 0.054% MoS(2) (0.0326% Mo)
Including 260-510 250 feet 0.080% MoS(2) (0.048% Mo)
The assays for the balance of Hole DH-07-01 are expected within a few
weeks, with the results from the remaining holes from the current drill
program expected in 6-8 weeks.
Visually, the results observed in the MAX drill core appear to be similar
to the historic descriptions in the previous drill holes that have been
examined to date. Readers are cautioned that, prior to receipt of assays for
such holes, (which, except as disclosed above, remain outstanding) no
conclusions can be drawn as to the nature or extent of such mineralization.
Mr. Clancy Wendt, P.Geo., VP Exploration for MAX states, "We are
extremely pleased with the results received to date from our exploration at
Gold Hill. Having encountered extensive molybdenum mineralization over
significant intervals, beginning virtually at surface, we feel that Gold Hill
may have the potential to be a significant new molybdenum discovery."
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 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.
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, and careful monitoring of
crush and grind particle size documentation, and careful protocol
documentation following ISO9002/17025 guidelines.
QP (Qualified Person): Max's exploration program was supervised by Clancy
J. Wendt, P.Geo., who is a qualified person as defined by National Instrument
About Gold Hill
The Gold Hill property comprises 8,520 acres located approximately 212
miles north, northeast of Anchorage, Alaska and is accessible to within five
miles of the property by the all-weather unpaved Denali Highway (State
The Claims were explored for base metals during the early 1970's by the
New Alaska Syndicate (Cities Services Minerals and Dome Mines Ltd). Numerous
holes were drilled over the then 4,960 acre property. The drill holes tested
various soil anomalies on the southwest side of Gold Hill where significant
molybdenum mineralization was first intersected. Hole DDH 77-2, intersected a
quartz-molybdenum (with minor copper) zone grading 0.048% MoS(2) from surface
to 536 feet with a higher grade interval from 350-500 (150 feet) of 0.094%
MoS(2). This area has never seen modern exploration techniques applied. The
immediate area contains a significant magnetic anomaly that coincides with the
known mineralization. Previous drilling never tested this magnetic feature nor
the surrounding sedimentary rocks. This area is best described as having
strong skarn and silicification development and coincident mineralization.
This area is the primary target of the current exploration program. For more
information on the Gold Hill project, please visit our web site at
A National Instrument 43-101 Geological Report was completed on the Gold
Hill project in July 2004 and can be viewed on SEDAR or at
www.maxresource.com. The historic information provided in this news release 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. There are no resources and reserve estimates relating to the
Claims and the original target estimate by Dome and Cities Service is
historical in nature, has not been verified by the issuer's qualified person,
may not be relevant and should not be relied upon.
Mr. Clancy J. Wendt, P. Geo. has acted as the 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 mineral exploration company that
identifies, acquires and finances advanced stage exploration projects. MAX is
currently focused on the discovery of Molybdenum, Uranium, precious metals and
base metals, with interests in properties in Alaska, Utah, New Mexico and the
Northwest Territories of Canada.
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, email@example.com,