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In August 2009 MAX entered into an Option Agreement to acquire a 100 % interest in the Table Top claims in Humboldt County, Nevada from Energex LLC, a private Nevada corporation. The property consists of 32 claims (640 acres) and is located 10 miles northwest of the town of Winnemucca, Nevada.
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, and is geologically favourable for the discovery of a medium-sized high grade, bonanza style gold deposit in a near surface environment.
During the 1980's Gold Fields, Meridian Minerals and Santa Fe Mining conducted exploration on and around the Table Top property. A limited drill program of only ten reverse circulation drill holes were drilled to test anomalous, up to 100,000 ppb, gold values in jasperoid. Trenches containing gold values up to 4 grams over 5 feet were tested by the first drill hole, which contained 55 feet of 0.027 opt Au from the surface down. This hole was drilled vertically in a breccia zone. The remaining nine drill holes contained little of significance except around the original drill hole. A follow up analysis determined that the exploration was centered in the wrong direction and that the drill holes should have been drilled to the south instead of to the north. MAX intends to test this theory during drilling to be conducted in the fall of 2009, subject to receipt of the necessary permits.
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.
The terms of the Option Agreement with Energex are as follows:
| Date | Payment Amount |
| Upon execution of this Agreement | $5,000 (U.S.) |
| First anniversary of Agreement | $25,000 (U.S.) |
| Second anniversary of Agreement | $35,000 (U.S.) |
| Each anniversary thereafter | $50,000 (U.S.) |
The Table Top Property is subject to a 3% NSR royalty. Upon full exercise of the Option, the Company will own 100% of the project.
Maps & Photos
Drilling April 2010
Click on thumbnail to enlarge
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