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The Howell Creek property is underlain by a thick sequence of Paleozoic limestones and sedimentary rocks and older Proterozoic sediments. Mid-Cretaceous intrusions occurring as sills, dykes, plugs and diatremes intrude these units. Gold mineralization occurs disseminated in limestone and with quartz stockworks in syenite intrusives and Proterozoic sediments. Prior drilling has included 1.23 g/t gold over 58 metres, 0.95 g/t gold over 39 metres, 0.65 g/t gold over 82 metres, and 0.57 g/t gold over 149 metres. A diamond drill hole from 2006, collared to the west of the surface expression of the important Palaeozoic limestone, penetrated a near surface fault and intersected 43 metres grading 0.42 g/t gold to the bottom of the hole at 66 metres. Hole HW-606 effectively expands the prospective area for the target model. The last sample in this hole graded 0.44 g/t gold indicating a need to drill deeper and test the target along strike; the first hole of the 2008 drill program will deepen this hole to approximately 200 metres.
Exploration at Howell has included 6,197 metres of drilling in 49 holes. Several holes have also intersected significant "manto style" silver-lead-zinc intercepts in limestone. These include 15.3 g/t silver , 0.40% lead and 2.40% zinc over 7.5 metres and 51.5 g/t silver, 1.98% lead, 1.87% zinc, and 0.32 g/t gold over 7.6 metres. An important additional target which will be tested during the 2008 drill program is Carbonate Replacement Deposit ("CRD") style mineralization in the general vicinity of hole HRC-15 (located 1,100 metres to the west of the first hole of the current program), drilled by Placer Dome Inc. in 1988, which intersected 7.6 metres grading 51.5 g/t silver, 1.98% lead, 1.87% zinc, and 0.32 g/t gold. This CRD style mineralization has not been actively explored at Howell during past exploration efforts.
MAX plans to drill a minimum of 1,000 meters at Howell, with drilling having commenced on July 21, 2008.
MAX can earn a 60% interest in the Howell project over a three year period by making cash payments totaling $120,000 to Eastfield Resources Ltd. ($10,000 on signing), issuing 250,000 shares (50,000 shares in the first year, on commencement oo drilling) and by completing exploration expenditures of $1.25 million.
Eastfield has the right to earn a 100% interest in the Howell property through an amended 1999 option agreement with Teck Cominco Metals Limited ("TCML") and Goldcorp Inc. ("GI") whereby outstanding commitments include a final exploration expenditure totaling $423,759 and cash payments of $100,000 to each of TCML and GI due by August 31, 2010. In order to maintain its option, MAX will also be responsible for its portion of the $100,000 payments due to GI and TCML by August 31, 2010 pursuant to Eastfield's underlying agreement with them.
Drilling 2008
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