TSX-V: MXR
OTC BB: MXROF
Frankfurt: M1D
VANCOUVER, May 3, 2012 /PRNewswire/ - MAX Resource Corp.
(TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has resumed core
drilling at the Majuba Hill copper/silver/gold project in
Nevada. This Phase III drill
program is permitted for up to 30 holes (5,000 m) that will test
the southeast extension of near surface high grade supergene oxide
mineralization identified by MAX at the historic Majuba Hill mine
during 2011, as well as initiate delineation drilling at the DeSoto
discovery zone 1.4 km to the northwest with a view to outlining an
initial NI 43-101 compliant resource estimate by the end of the
year.
During Phase I drilling in 2011, MAX intercepted
high grade copper/silver oxide mineralization near surface over
long intervals at the past producing Majuba Hill mine.
Highlights of this drilling include:
- 96 m of 39.2 g/t Ag, 0.57% Cu and 0.10 g/t Au in hole
MM-06
- 50.3 m of 50.8 g/t Ag, 0.31% Cu and 0.31 g/t Au in
MM-07
- 42.7 m of 37.5 g/t Ag and 0.38% Cu in hole MM-03
The first hole of the current program, MM-21, is
located approximately 250 m southeast of the middle portal of the
past producing Majuba Hill mine and will test a ridge of high grade
oxide mineralization identified during geologic exploration in 2011
that appears to extend a further 500 m to the southeast to the
"Ball Park" area, where hole MM-17 intercepted 42.7 m of
16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of
51.0 g/t Ag. A map showing drilling locations from
the 2011 exploration programs at Majuba Hill, as well as the
location of MM-21, is available on our web site at
www.maxresource.com.
During the fall of 2011 MAX drilled a further
four step-out holes, with hole MM-18 intercepting 29.2 m of
30.5 g/t Ag and 0.69% Cu 1.4 km to the northwest at the high
grade DeSoto soil anomaly, which currently measures approximately 2
km long by 1 km wide and returned values as high as 1.53% Cu and
209 g/t Ag in soils. This soil anomaly remains open to
the south and east and appears to extend at least another 1 km to
the northwest onto additional land (560 acres) acquired by MAX in
April, 2012. On completion of hole MM-21, the drill rig will
be moved to the DeSoto zone to begin an extensive drill program to
determine the overall grade and areal extent of the high grade
copper/silver oxide mineralization intercepted by hole MM-18.
Majuba Hill is the site of numerous past
producing mines, with historic production reported of 12% Cu
(Mason Valley Copper, 1918) and
silver grades up to 40 oz/t Ag. Majuba Hill encompasses 2,568
acres of surface and mineral rights that includes patented lode
mining claims. The property is easily accessed via 23 miles
of well-maintained dirt roads leading from U.S. Interstate 80, and
lies 30 miles northwest of Coeur d'Alene's Rochester silver mine, which contains a NI
43-101 compliant Measured and Indicated Resource of 263.9 million
tons grading 0.46 oz/ton Ag and 0.004 oz/ton Au. (The Coeur
Technical Report on the Rochester Mine is available on SEDAR). For
more detailed information on the Majuba Hill copper/silver project,
including maps showing the results of soil sampling and the
drilling completed to date, please visit our web site at
www.maxresource.com.
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. The historic information provided has not
been verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration
company focused on gold and silver exploration in Nevada. For more information, please visit our
web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts 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.
SOURCE MAX Resource Corp.