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The C de Baca Project is comprised of 191 mineral claims located 14 miles north of the town of Magdalena and 100 miles south of Albuquerque, New Mexico. Access to the property is excellent, by both graveled and cross-country roads.
The C de Baca project was explored during the early 1980's by Occidental Minerals ("Oxymin"), a wholly-owned subsidiary of Occidental Petroleum. The uranium host is a 3500+ foot wide south-trending sequence of strongly reduced braided stream deposits grading into a system of alluvial fan and flood plain sediments. This geo-chemically well-defined depositional trend favours uranium deposition along the margins of the system where the reduced (altered) sands range in thickness from 150-200 feet. During this exploration, 216 drill holes were drilled in specific areas of the claim block and roughly defined the eastern limits of the favourable system. The best drill hole had 7.5 feet of 0.20% U3O8 at a depth of 291 feet. Due to the geological formations in the area, Oxymin felt that the property may be amenable to in-situ mining methods. In situ recovery ("ISR"), also known as solution mining, involves leaving the ore where it is in the ground and using non-toxic liquids which are pumped through it to recover the minerals out of the ore by leaching. As a consequence, there is little surface disturbance and no tailings or waste rock generated. According to the World Nuclear Association, 21 percent of the world's uranium production came about through ISR mining in 2004.
Historic reports completed by Oxymin in 1981 and 1982 indicated that they had identified an exploration target of 1.67 million tons grading 0.18% U3O8 (approximately 6 million lbs.) and that there was upside potential to find more mineralization. These reports are included in the uranium database acquired by MAX in June 2006. The Oxymin reports contain data not previous reviewed, including uranium grade thickness maps and copies of the original drilling logs. These reports were thought to have been lost and support the historic resource estimate made by Oxymin. Note: This report by Occidental Minerals was not NI 43-101 compliant (and predated NI 43-101). There has been no NI 43-101 Geological Report completed on the Claims or on the C de Baca project. The historic information provided is for reference only and the reader should not infer or assert that the information is correct, reliable, relevant or accurate and the historic information should not be relied upon. Any resource and reserve estimates relating to the Claims are historical in nature, have not been verified by the Company's qualified person and should not be relied upon.
On May 21, 2007 MAX commenced a 14 hole rotary drill program at C de Baca project designed to confirm historic drill results reported by Oxymin during their exploration of the C de Baca property during the 1980's.
On June 5 2007 MAX announced the results from the first drill hole at C de Baca, CDB-1. These results confirmed a historic drill result achieved by Oxymin of 5.5 feet of 0.043% eU308 at 300 feet and a second mineralized zone of 4 feet of 0.024% eU3O8 at 317 feet down hole.
The current results achieved by MAX at CDB-1 were through gamma ray probe readings by Jet West Geophysical Services LLC of Farmington, New Mexico and include:
MAX Hole # Total Depth Interval Mineralization CDB-1 378.0 feet 300-305.5 0.043% eU3O8 Containing 301.0-301.5 0.06% eU3O8 Containing 301.5-302.0 0.10% eU3O8 Containing 302.0-302.5 0.09% eU3O8 Containing 302.5-303.0 0.05% eU3O8 Second Zone 317.5-321.5 0.024% eU3O8On June 19, 2007 MAX announced the results from a further six drill holes, CDB-2 to CDB-7, of which Hole CDB-6 returned 6.5 feet of 0.136% eU3O8 beginning at a depth of 155.5 feet (including 0.368% eU3O8 from 157.5-159.0 feet) and 5 feet of 0.167% eU3O8 from 170 -175 feet. Results included the following:
MAX Hole # Total Depth Interval Mineralization
CDB-2 347 feet 270.0-282.0 0.0226 % eU308
CDB-3 347 feet 261.5-264.5 0.031 % eU308
293.0-297.0 0.014 % eU308
CDB-4 181 feet 160.5-164.0 0.036% eU308
Including 162.0-162.5 0.07% eU308
CDB-5 210 feet 180-182.0 0.019% eU308
184.5-190.0 0.074% eU308
Including 186.5-189.0 0.173% eU308
CDB-6 200 feet 155.5-162.0 0.136% eU308
170.0-175.0 0.167% eU308
Including 157.5-159.0 0.368% eU308
Including 173.0-173.5 0.76% eU308
CDB-7 235 feet 201.0-208.0 0.052% eU308
Including 205.0-207.0 0.094% eU308
On July 9, 2007 MAX announced the results from the final seven drill holes at C de Baca. Highlights included drill hole CDB-10A, which contained 2.0 feet of 0.065% eU308 at a depth of 295.5 feet. Results are tabulated as follows:
Hole # Total Depth Interval Mineralization
CDB-8 248 feet 184.5-194.5 0.0159% eU308
CDB-9 346 feet 306.5-310.0 0.034 % eU308
328.5-330.0 0.015% eU308
CDB-10 311 feet Anomalous
CDB-10A 309 feet 295.5-297.5 0.065% eU308
CDB-11 319 feet 286.5-294.0 0.037% eU308
CDB-12 336 feet 202.0-203.5 0.0.012% eU308
CDB-13 229 feet 176.5-180.5 0.0162% eU308
201.0-202.0 0.015% eU308
CBD-14 238 feet 199.5-200.0 0.026% eU308
217.0-217.5 0.025% eU308
The results from drill hole CDB-10 were affected by the intersection of an unknown basaltic dike. MAX drilled an offset hole, CDB-10a, to avoid intersecting the basaltic dike and to better test the main zone of uranium mineralization. This hole successfully encountered 2.0 feet of 0.065% eU308 at a depth of 295.5 feet. The drill program conducted during 2007 at C de Baca was successful in confirming the historic uranium grades reported by Oxymin from their drilling in the early 1980's and demonstrated the consistency of the mineralized system throughout the deposit. All uranium mineralization was encountered within no more than 350 feet from surface. MAX's future plans for C de Baca include the initiation of various geological, lithological, structural and mineralogical studies to better aid in the design of the next drill program.
MAX has filed for permits for additional drilling at C de Baca that will include a series of diamond drill holes in the area of Oxymin's drill hole BR-57 (which returned 7.5 feet of 0.20% eU308 beginning at a depth of 297 feet) to further test the uranium mineralization and to test the lithological and structural controls to the mineralization of the system. This area is also coincident to MAX drill hole CDB-6, which returned 6.5 feet of 0.136% eU308 beginning at a depth of 155.5 feet, inclusive of 0.368% eU308 from 157.5-159.0 feet, and a further 5 feet of 0.167% eU308 from 170 -175 feet.
QA/QC, Quality Assurance / Quality Control: Gamma, Spontaneous Potential (SP), and Resistivity values were logged by Jet West Geophysical Services LLC of Farmington, New Mexico. The Gamma portion of the downhole logging tool was calibrated by uranium-industry standard values located in mines at Grants, New Mexico. In situ uranium grades, expressed as equivalent U3O8 ("eU3O8") are calculated using the digital gamma ray values acquired by the downhole logging tool and uranium industry standard techniques for gamma log interpretation. Downhole gamma log interpretation has historically been found to be an accurate representation of in situ grades for uranium mineralization in the Magdelana District. Chemical assays of samples will be done and used to determine relative trace element concentrations as a guide to future drilling.
Qualified Person: The C de Baca Uranium Project is managed by Mr. Clancy J. Wendt, P. Geo., the VP Exploration for MAX and a Qualified Person as defined by National Instrument 43-101 guidelines. Stewart Brothers of Grants, New Mexico was the drilling contractor.
Technical Report: A National Instrument 43-101 complaint Geological Report was completed on the C de Baca project in March 2008 and can be viewed on SEDAR or by clicking this link.
Maps & Photos
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