MAX drills 27.4 meters of 0.467 g/t gold and 3 meters of 1.79 g/t gold at
Table Top, Nevada; deeper drilling planned
TSX-V Symbol: MXR
OTC BB Symbol: MXROF
Frankfurt: M1D
VANCOUVER, June 22 /CNW/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has received the assays from its recent diamond drill program at the Table Top gold project near Winnemucca, Nevada. A total of 15 holes were drilled for a total of 660 meters (2,156 feet). Of these holes, ten intersected the mineralized structure and contained significant gold mineralization. The zone of mineralization continues for the entire length of the structure and is open to the northeast and southwest. Gold mineralization also appears to increase in value as deeper zones are intersected.
In addition to the 15 holes completed at Table Top, three trenches were dug and sampled near the original drill hole reported by Gold Fields Mining Company that contained 50 feet of 0.027 opt Au. The current core holes were drilled to be perpendicular to the strike of the mineralized zone and across mineralization which is hosted in a silicified tectonic breccia.
All significant gold assays are listed below:
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Hole Angle From (m) To (m) Width (m) Gold (g/t)
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MT 1 -45 degrees 6.09 12.2 6.11 0.749
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Including 9.1 10.7 1.6 1.436
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MT 2 -60 degrees 12.2 39.6 27.4 0.467
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Including 27.4 35.0 7.6 0.760
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MT 4 -45 degrees 16.7 22.8 6.1 0.614
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Including 18.3 21.3 3.0 0.783
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MT 5 -75 degrees 21.3 25.9 4.6 0.396
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Including 24.4 25.9 1.5 0.794
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MT 6 -60 degrees 16.8 21.3 4.5 0.545
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Including 18.3 19.8 1.5 1.27
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MT 7 -75 degrees 22.9 24.4 1.5 0.734
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MT 8 -45 degrees 10.7 18.3 7.6 0.664
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Including 15.3 16.8 1.5 1.290
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MT 9 -75 degrees 28.9 30.4 1.5 0.451
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MT 11 -45 degrees 18.3 19.8 1.5 0.558
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MT 12 -75 degrees 32.0 35.0 3.0 1.79
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Including 32.0 33.5 1.5 2.562
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All mineralized core from this drill program was split and submitted for assay to Inspectorate America Corp, an ISO certified Laboratory in Reno, Nevada.
The drill results at Table Top indicate that MAX may have found a potential mineralized feeder similar to a Carlin Type gold system. Multi-element geochemical values of arsenic, antimony and mercury are all extremely elevated with respect to background; numerous 1.5 m intercepts exceed 100 ppm arsenic and antimony, with thallium values in excess of 10 ppm. All of these elevated values are directly associated with elevated (in excess of 100 ppb and as high as 2,562 ppb) gold values. Silver, tellurium, selenium and base metal values are all low. Geologic interpretation indicates the zone is a 20 meter to 30 meter wide, northeast striking and southeast dipping structural zone. Gold and associated trace element mineralization is associated in and surrounding a silicified breccia (jasperoid). Low grade gold mineralization associated with high grade trace elements is often found to occur in Carlin style gold feeder systems, as have lamprophyre dikes that have also been identified in this zone. Lamprophyres are often found in Carlin systems and are indicative of deep seated structures. Continued evaluation of the drilling data is underway; additional drilling will target deeper mineralization where high grade gold deposits have been found in the recent past at Carlin systems (such as Meikle and Deep Star). Max intends to test this theory during a phase 2 drill program this summer that will be designed to test these deep targets.
A map showing the location of the trenches and drill holes completed at Table Top will be available soon on our web site at www.maxresource.com.
The Table Top gold project consists of approximately 157 claims totaling 3,142 hectares located near the town of Winnemucca in Humboldt County, Nevada and is only one half hour by gravel road north of town. Table Top is located along the King River Rift, a regional geologic feature that appears to control mineralization in the area and which hosts multiple high-grade vein-related gold systems. Along this trend is AMAX's Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the Goldbanks gold occurrence located 37 miles to the south, and the Sandman gold deposits (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) immediately to the north, where drilling by Newmont continues to highlight the high-grade nature of near-surface gold mineralization.
This news release has been reviewed by 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.
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MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three gold properties in Nevada being actively explored in 2010. 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. Further, this news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that the United States Securities and Exchange Commission's mining guidelines prohibit information of this type in documents filed with the SEC and that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
For further information: Leonard MacMillan, Corporate Communication, Telephone: (866) 331-5088 or (604) 637-2140, [email protected], www.maxresource.com
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