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MXR Max Resource Corp

0.415
0.00 (0.00%)
04 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Max Resource Corp TSXV:MXR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.415 0.41 0.425 0 00:00:00

MAX Returns 1.5 g/t Au and 0.87 g/t Au From Bulk Samples at East Manhattan Wash, Nevada; Drill Permits Expected This Fall

27/08/2013 7:29pm

Marketwired Canada


MAX Resource Corp. (TSX VENTURE:MXR)(OTCBB:MXROF)(FRANKFURT:M1D) has received
assay results from additional bulk sampling completed at the East Manhattan Wash
("EMW") gold project in Nevada. This bulk sampling was undertaken to prepare for
drilling planned for this fall by following up on sampling conducted in 2009
that recovered 4.9 g/t Au and 1.2 g/t Ag from a 793 pound sample taken at
surface within a gold mineralized soil anomaly exposed over a surface area in
excess of 1,650 m by 450 m feet in size. Just north of this area, the very small
streams all contain free gold that can be recovered by conventional gold panning
techniques. Mineralization appears to be free gold in a volcanic lithic welded
tuff. During the current program, two 10 kg samples were taken, one from the
same area as the 2009 bulk sample and the second from an area approximately 150
meters to the east. The first 10 kg sample returned 1.5 g/t au and the second
sample returned 0.87 g/t Au.  


MAX has been advised by the U.S. Forest Service that its drill permit
application filed in 2011 should be approved this fall, following which we plan
to undertake a 12 hole core drilling program to determine the overall depth and
grade of the gold mineralization in the volcanic tuff at EMW. 


Clancy Wendt, VP Exploration of MAX, states, "We have now defined a significant
area of gold mineralization that we believe has the potential for a large
mineralized system. More important is the fact that the mineralization appears
to be free gold within the volcanic tuff which would allow a concentrate to be
made on site through crushing and gravity separation, with final processing at
toll mills off site. With a large mineralized area now defined at surface, we
are anxious to finally be able to drill to determine the overall depth of the
mineralization, extend the known mineralization below cover, and determine the
overall grade." 


Following up the results of the initial bulk sample in 2009, MAX completed three
large volume soil sampling grids in May of 2009 at EMW and followed that up with
a further sampling program in September, 2010. In total, over 300 samples were
taken and returned values ranging from 0.05 ppm to 1.5 ppm (1.5 g/t) Au. While
the total mineralized zone now exposed at surface encompasses an area in excess
of 1,650 m by 450 m in size, the mineralized area is believed to be much larger
but is covered by either overburden or alluvium. The sampling conducted at EMW
has enabled MAX to identify structural linear features seen in air photo images
along with argillic alteration and silicification that appears to define where
strong gold values may be found. Sampling of historic pits dug by earlier
prospectors has helped further define the areas of mineralization and to confirm
the presence of gold. An updated soil sampling map is now available on our web
site at www.maxresource.com.


Sampling taken by other companies that reviewed the property during 2010 and
2011 found values up to 2.4 g/t in outcrop. In addition, streams north and east
of the soil anomaly were also sampled looking to define the overall size of the
system, with all of the streams containing gold with values up to 0.05 ppm. The
wide variation in gold values is explained by the presence of coarse free gold
in all samples.


The soil and current samples were analyzed by ALS Laboratory Group (Chemex) in
Reno, Nevada. Samples from two of the sample grids taken in the coarse gold area
(as seen in the previous bulk sample) were run for gold using a one kilogram
split with following cyanide leach to minimize the potential to miss the coarse
gold. The other grid (different mineralization style) samples were fire assayed
in addition to an ICP (Inductively Coupled Plasma) suite of 41 elements. All
sample bags were labeled at the site with a sample specific number, logged on a
sample card with sample card tag put in each sample bag and taken directly from
the field to ALS Labs. In addition, each site was located using a GPS in UTM
with NAD 27.


The EMW property is comprised of 78 claims (1,560 acres) located in the
Manhattan Mining District 40 miles north of the town of Tonopah and eight miles
south of the Round Mountain Mine (jointly owned by Kinross and Barrick), a
conventional open pit operation that has produced more than 12 million ounces of
gold to date. For 2012, Kinross Gold reported a proven and probable gold
resource at Round Mountain (net to its 50% interest) of 64.1 million tonnes at
0.6 g/t Au. 


More than 1 Moz of gold have been mined to date in the Manhattan Mining
District. Production has included the nearby Manhattan mine (1974-1990), an
open-pit operation that produced 236,000 ounces of gold at an average grade of
0.08 ounce per ton ("opt") and the Echo Bay East and West Pit deposits
immediately to the west of EMW that operated in the early 1990s, producing
260,000 ounces at an average grade of 0.06 opt. 


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. 


About MAX Resource Corp.

MAX Resource Corp. is a Canadian exploration company focused on gold, silver and
copper exploration in Nevada. Our Nevada properties include Majuba Hill
(Copper/Silver) in Humboldt County and East Manhattan Wash (Gold) in the
Manhattan Mining District, Nye County. 


On behalf of the Board of Directors

Stuart Rogers, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the
term is defined in the Policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MAX Resource Corp.
Leonard MacMillan
Corporate Communication
(604) 637-2140 or Toll Free: 1-866-331-5088
info@maxresource.com
www.maxresource.com

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