Wed Jun 7, 2006 Assay results received from preliminary drilling at Thomas Mountain uranium project in Utah
Max Resource Corp. (TSX.V: MXR; OTCBB - MXROF) has received the assay results from the second and third holes of the planned 6 hole drill program at Thomas Mountain and has suspended drilling, pending further review.
MAX has now completed three holes of the drill program and has received the assay results from the last two holes. While gamma logs indicated values of radioactivity in drill hole PPCO#2 as high as 900 CPS in two zones, assays were conducted for 31 elements and revealed only anomalous values, including values of 248 ppm Lanthanum, > 500 ppm rubidium and 169 ppm strontium. These results are being reviewed as to whether further work should be contemplated with respect to these elements.
The Thomas Mountain project comprises 195 claims totaling 3,900 acres and is located 150 miles southwest of Salt Lake City and 20 miles west of the town of Delta. These claims were explored during the early 1980's by Phillips Uranium, a wholly-owned subsidiary of Phillips Petroleum. Phillips reportedly encountered uranium grades of approximately 0.05% U3O8, over a 100 foot thickness at a depth of 900 feet within a small caldera. The uranium host rock is identical to the host rock found in a nearby structurally controlled uranium system, the "Yellow Chief" mine, that produced approximately 500,000 pounds of uranium from ore that had an average grade of 0.2% U3O8. The zone found by Phillips on the PPCO claims was thought to be the source of the original Yellow Chief mineralization.
Mr. Clancy Wendt, VP Exploration for MAX states: "We are disappointed we were unable to replicate the prior results reported by Phillips Uranium with the drilling that has been conducted to date. With the completion of these three holes, MAX has satisfied its work commitment for the year and we have decided to suspend the balance of the drill program until we have a better understanding of the geology of the area".
Clarence J. Wendt has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this news release.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian mineral exploration company that identifies, acquires and finances advanced stage exploration projects. MAX is currently focused on the discovery of uranium, gold, molybdenum and base metals, with interests in properties in Alaska, Utah, Nevada, New Mexico and the Northwest Territories of Canada. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of MAX Resource Corp.
Contact: Leonard MacMillan, Corporate Communication
Telephone: 800 248 1872 or 604 637 2140
THE CONTENTS OF THIS NEWS RELEASE HAVE NEITHER BEEN APPROVED NOR DISAPPROVED BY THE TSX VENTURE EXCHANGE.
This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause MAX's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
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