|On August 31, 2009 MAX entered into an Option Agreement to acquire a 100% interest in the Table Top claims in Humboldt County, Nevada. The property consists of 10 claims (200 acres) located 10 miles west of Winnemucca, Nevada, just off of Interstate 80.
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, the Sandman gold deposits (Newmont Mining Corporation (NYSE:NEM) just 8 miles to the north and the Goldbanks gold occurrence located 37 miles to the south. All of these properties, including Table Top, are 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. Table Top is located immediately south of the Sandman gold project, which is one of the three Nevada properties included in the acquisition of Fronteer Gold Inc. by Newmont Mining Corp. in April 2011.
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.
MAX drilled 21 core holes at Table Top in 2010 and 2011 totalling approximately 1200 m. Significant drill results from this drilling are summarized on the following pages. Highlights from this drilling include:
All significant gold assays from the initial drill program completed in May 2010 are listed below:
In September 2010 MAX drilled a further two holes to test the down dip extension of the mineralized structure intersected in the earlier drill program to a new depth in the 250-1000 ft (76.2 - 304.8 m) zone. The drilling intersected the mineralized structures in both drill holes and confirms that the mineralization extends to depth, as summarized below.
In April 2011 MAX drilled six holes at Table Top, with all holes intersecting gold mineralization in excess of 100 ppb Au. Highlights included drill hole MT-18, which intersected 9.6 m of 1.04 g/t Au starting at a down hole depth of 42.7 m. Holes MT-16, 17 and 18 intersected multiple intervals of gold mineralization exceeding 100 ppb. These latter results indicate that gold mineralization is not confined to a single zone; MT-17 had four mineralized zones. Mineralization has now been identified over a 500 meter strike length and is still open in both directions. Significant gold intercepts are summarized below (cut-off grade at 0.1 g/t Au):
Analysis was performed by Inspectorate America Corp, an ISO certified facility in Sparks, Nevada, using fire assay and multi-element (ICP-ES) techniques. Standards and blanks were used for quality control of the samples.
The 2010 and 2011 drill programs confirm that previous interpretations are valid regarding the occurrence of gold mineralization at Table Top. A viable target exists along strike to the northeast and southwest and down dip where the vertically standing outcrops bend, creating a zone of structural preparation. Further drilling is planned to the northeast towards where Goldfields reported values to 15 g/t gold from outcrops sampled in the 80's on adjacent land.
Maps & Photos
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