Thu May 7, 2009 MAX intercepts high grade molybdenum in Nevada; results include 18 feet of 0.2133% Mo, 1.2 feet of 1.397 % Mo and 3 feet of 0.7368% Mo.
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has received the results from drilling completed in 2008 at the Ravin Molybdenum/Tungsten property in Nevada.
Drilling commenced at Ravin on July 10th but was severely hampered by lack of water in the area and loss of circulation during drilling due to silicified and broken quartz breccia. This resulted in poor core recovery, drilling delays and additional costs. After completion of three diamond drill holes ("DDH") a further five holes were completed at Ravin using a reverse-circulation ("RC") drill. A map of these drill holes is available on our web site at www.maxresource.com.
The assay results from the diamond drill holes are as follows:
Drill Hole Number
Due to poor core recovery during diamond drilling, assay results from the diamond drill holes have been reported only for those intervals for which coherent core samples are available and these have all been listed in the table above. High grade mineralization (greater that 0.6% Mo) reported at a depth of 790 feet by Houston Oil and Minerals was not tested due to the water problems, lost circulation and poor recoveries encountered, resulting in early termination of our hole DDH-08-04.
The assay results from the reverse-circulation drilling completed at Ravin are as follows:
Drill Hole Number
The drilling completed at Ravin was designed to confirm historic drill results reported by prior operators, such as Houston Oil and Minerals and Freeport Exploration, and has done so. Assays have also indicated improved molybdenum values over the historic values reported in holes RC 08-02, 08-03, 08-05 and 08-09, with copper values higher than expected. Although expected, no tungsten values were encountered in the drill holes.
Mr. Clancy Wendt reports "We are pleased with the high-grade intercepts achieved at Ravin in spite of the difficulties encountered during drilling in 2008, which served to restrict the scope of the drill campaign. While core recovery was difficult and expensive, our first hole DDH-08-04 confirmed extensive near surface high-grade molybdenum mineralization is present at Ravin, with 36.8 feet of 0.0983% Mo encountered within 110 feet of surface and molybdenum intercepts as high as 1.397%. Additional high grade intercepts were also encountered in holes DDH08-08 and DDH 08-11 as well as RC 08-02 and RC 08-03. We have now resolved the water problems at Ravin and devised a program of loss circulation to increase recoveries. Further exploration work is being planned in and around the intrusives."
The Ravin Property is comprised of 162 claims (13,240 acres) located 20 miles north of the town of Austin, Lander County, Nevada and approximately 50 miles west of General Moly, Inc.'s (AMEX & TSX: GMO) proposed Mount Hope molybdenum mine.
Historically, the Ravin property has been explored by Union Carbide, Houston Oil and Minerals and Freeport Exploration. Union Carbide drilled three core holes with the deepest hole drilled to a depth of 500 feet. Houston Oil and Minerals subsequently acquired the property in 1978 and drilled six core holes in the Reward tungsten pit. As part of a regional rock and soil geochemistry program, Houston Oil identified a coherent molybdenum soil anomaly. They drilled two diamond drill holes and reported an intercept of 30 feet of 0.66% Mo at a depth of 790 feet in their hole RW 7-A. Our drill hole RC 08-07 was not able to reach the high grade mineralization reported in RW 7-A due to lost circulation and broken ground problems.
Freeport optioned the property in 1981 and drilled 17 rotary and core drill holes to test a molybdenum-copper-fluorine anomaly found within the Cambrian sedimentary units. The anomalous zone showed strong structural control and is thought to be associated with the contact zone of the Cadro Pluton. All but 4 drill holes encountered molybdenum mineralization and many contained significant mineralization. Some of the historic drill holes exist in the form of reports and summaries of the drilling, exploration, drill logs and assays but none of the original assay sheets are available. Highlights included hole RW 80-7 (our drill hole DDH 08-11), where Freeport reported an interval of 250 feet of 0.063% Mo beginning at a depth of 100 feet. The values returned from our hole DDH-08-11, where core was recovered, are listed in the table above and are higher than the 0.063% Mo reported by Freeport.
Max Resource has put in place a rigorous QA/QC program consistent with National Instrument 43-101 and using best industry practice. The QA/QC program consists of a carful chain of custody of samples from the field to the laboratories, inclusion of standard and blank samples which were submitted to American Assay & Environmental Laboratories, Reno, with each batch of samples and a check assay program on a proportion of sample pulps with a second laboratory is in progress. Results from the QA/QC program have to date been satisfactory.
There has been no NI 43-101 Geological Report completed on the claims or on the Ravin 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 it should therefore not be relied upon.
This news release has been reviewed by Mr. Clancy J. Wendt, P. Geo, a "qualified person" as that term is defined under National Instrument 43-101.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian based 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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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