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MAX acquires
Table Top gold project in Nevada;
permitting underway for fall drill
program
MAX
Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has entered into an
Option Agreement to acquire a 100 % interest in the Table Top claims in
Humboldt County, Nevada from Energex LLC, a private Nevada
corporation. The property consists of 32 claims (640 acres)
located 10 miles northwest of the town of Winnemucca, Nevada.
The
Table Top area is on trend with AMAX?s Sleeper Canyon Mine (2.5 MM oz Au
produced), located 25 miles to the north, and is geologically favourable for
the discovery of a medium-sized high grade, bonanza style gold deposit in a
near surface environment.
During
the 1980's Gold Fields, Meridian Minerals and Santa Fe Mining conducted exploration
on and around the Table Top property. A limited exploration program of
only ten reverse circulation drill holes was conducted to test anomalous, up
to 100,000 ppb, gold values in jasperoid. Trenches containing gold
values up to 4 grams over 5 meters were tested by the first drill hole, which
contained 55 feet of 0.027 opt Au from the surface down. This hole was
drilled vertically in a breccia zone. The remaining nine drill holes
contained little of significance except around the original drill hole.
A follow up analysis showed that the exploration was centered in the wrong
direction and that the holes should have been drilled to the south instead of
to the north. MAX intends to test this theory during drilling to
be conducted in the fall of 2009, subject to receipt of the necessary
permits.
Table
Top is located in the Triassic rocks of the Raspberry formation which can be
split into two general types: a northwestern belt of sandstone, siltstone,
and slate, locally calcareous but devoid of limestone; and a southeastern
belt of calcareous sandstone, siltstone and slate with prominent massive
limestone beds 5 to 100 feet thick. Bedding in these units trend
northeast with steep dips to the southeast.
The
mineralization in the Raspberry formation is generally in the form of
silicification in veinlets and small pods in the limestone but in a few areas
there is massive replacement of the limestone by silica. The silica, where
sampled, usually contains gold with values as high as 15.5 ppm. Stibnite or stibnite
casts can be found in the silica.
The
terms of the Option Agreement with Energex are as follows:
Date
Payment Amount
Upon execution of this
Agreement $5,000 (U.S.)
First anniversary of
Agreement $25,000
(U.S.)
Second anniversary of
Agreement $35,000 (U.S.)
Each anniversary
thereafter $50,000
(U.S.)
The
Table Top Property is subject to a 3% NSR royalty. Upon full exercise
of the Option, the Company will own 100% of the project.
Energex,
LLC is wholly-owned by Clancy J. Wendt, the Vice President of Exploration for
MAX. This agreement is subject to acceptance for filing by the TSX
Venture Exchange.
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 is for reference only
and the reader should not infer or assert that the information is correct,
reliable or accurate.
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 Gold in Alaska, Nevada and British
Columbia, Uranium in the south western U.S. and northern Canada, and
Molybdenum in Alaska and 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
Contact: Leonard MacMillan, Corporate Communication
Telephone:
(866) 331-5088 or (604) 637-2140
info@maxresource.com
www.maxresource.com
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.
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