Tue Jun 17, 2008 MAX Begins Drill Program at Gold Hill Molybdenum Project, Alaska
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) is pleased to announce that drilling has commenced at Gold Hill in Alaska, following up on a five hole drill program MAX conducted in 2007 that intersected significant molybdenum mineralization (MoS2) over long intervals starting at surface and ending in mineralization at depth in four of the holes.
MAX's 2007 drill program was testing a broad Molybdenum/Copper/Gold geochemistry and geophysical magnetic anomaly covering at least a 700 by 800 meter area. Highlights from the 2007 drill program included:
DH-07-01 - 250 feet of 0.080% MoS2
DH-07-03 - 1000 feet of 0.058% MoS2 (including 45 feet of 0.18% MoS2)
DH-07-04 - 250 feet of 0.0603% MoS2
DH-07-05 - 352 feet of 0.0706% MoS2
This first drill hole of the 2008 program will test the zone to the east of drill hole DH-07-05 and examine the continuation of the high grade mineralization encountered in drill hole DH-07-01 and under drill hole DH-07-03.
Drill hole DH-07-05 was an angled drill hole designed to test across the mineralization that was intersected in drill holes DH-07-02 and DH-07-03. The hole did not cut the entire interval and mineralization was visibly increasing at the bottom of the drill hole as it neared the projection of the main zone. This hole will be continued this drill season.
Prior drilling reported by the New Alaska Syndicate (Cities Services Minerals and Dome Mines Ltd.) at Gold Hill in the 1970's included drill hole DDH 77-2, which intersected quartz-molybdenum +/- copper grading 536 feet of 0.048% MoS2, starting at surface, with a higher grade interval from 350-500 of 0.094% MoS2. Their drilling never tested the significant magnetic anomaly that coincides with the mineralization or the surrounding sedimentary rocks. Further, six of these drill holes, which will be tested this year, bottomed in mineralization and were never drilled to test the contact between the magnetic intrusive and the sedimentary host. The deepest drill hole during this time was one 500 foot angle drill hole drilled oblique to the strike of the sediments.
The Gold Hill property comprises 8,520 acres located approximately 212 miles north northeast of Anchorage and is accessible to within five air miles of the property by the all-weather unpaved Denali Highway (State Highway 8).
A National Instrument 43-101 Geological Report was completed on the Gold Hill project in July 2004 and can be viewed on SEDAR or at www.maxresource.com. The historic information provided in this news release is for reference only and the reader should not infer or assert that the information is correct, reliable, relevant or accurate and should not be relied upon. There are no resources and reserve estimates relating to the Claims and the original target estimate by Dome and Cities Service is historical in nature, has not been verified by the issuer's qualified person, may not be relevant and should not be relied upon.
Clancy J. Wendt, P. Geo., has acted as the qualified person for this disclosure, as defined in NI 43-101, and has supervised the preparation of the technical information in this news release.
About MAX Resources
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in Canada and the Western United States. Our properties include Uranium projects in the south western U.S. and northern Canada, Molybdenum in Alaska and Nevada, and Gold in Nevada and British Columbia. 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
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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