MAX begins exploration at historic
Majuba Hill Copper/Gold/Silver Property in Nevada;
excavation underway for April drill program
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has begun exploration
at it?s newly acquired Majuba Hill Copper/Gold/Silver property in Pershing
County, Nevada (see
our news release of March 4, 2011). Excavation of drill sites has begun,
with core drilling scheduled to begin in April 2011 following completion of
drilling currently underway at MAX?s nearby Table Top gold project.
Majuba Hill is the site of a number of past producing
high-grade copper, gold and silver mines. Our initial exploration program is
designed to expand and define the current zones of copper/silver
mineralization as well as explore new areas of the property where significant
gold and silver values have been reported but not yet followed up.
Majuba Hill encompasses 2,313 acres of surface and
mineral rights consisting of patented and unpatented
lode mining claims and private mineral rights. Majuba Hill
is 30 miles northwest of Coeur d?Alene?s
Rochester Mine, which has produced 127 million ounces of silver and 1.5
million ounces of gold since 1986. The property is located halfway between
the Florida Canyon Mine (Jipangju) and the Hycroft Mine (Allied Nevada Corporation) within the Western Nevada Gold Belt
and is easily accessed via 23 miles of well-maintained dirt roads leading
from U.S. Interstate 80.
Initial
Exploration Targets ? Myler
and Last Chance
Initial drilling at Majuba
Hill will explore two areas, the Myler Target Area and
the Last Chance Mine.
Since 1907, production and exploration at Majuba Hill has produced outstanding copper results with
associated silver and gold.
Published production data show that prior to 1947 Mason Valley Mines
Co. and Greenan-Kerr produced 4,000 tons @ 12 % Cu and slightly less than 23,000
tons @ 4% Cu respectively in the Myler Target Area. During reverse-circulation
drilling at the Myler Target area in 2007-2008, Minterra Exploration reported a number of high-grade
drill intercepts, such as 145 ft @ 1.85 opt Ag and 0.49% Cu, inclusive of 15 feet @ 5.01 opt Ag (hole MH-6)
and 100 ft @
0.99 opt Ag, inclusive of 15 feet
@ 4.00 opt Ag (hole MH-5).
The Last
Chance Mine was developed along a fault with a trend similar to the Majuba Fault.
Last Chance operated intermittently and produced silver (up to 40
opt Ag), lead (up to 15%), and gold (up to 0.10 opt Au) from an
830 foot tunnel and a 117 foot deep shaft. No drilling or exploration appears
to have ever been completed down dip or along the strike of the fault at Last
Chance.
Subsequent exploration at Majuba
Hill will be expanded to include the Line
Drive Adit and Section 35 areas. Mine Finders and Minterra
conducted initial soil and rock sampling at both the Line Drive Adit and Section 35 that indicates that they are highly
prospective for gold as well as copper and silver, with rock chip samples
reported as high as 10 g/t Au and 981
g/t Ag.
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.
|