Max to begin exploration at its Diamond Peak Gold/Zinc Property, Nevada; adds additional 96 claims
The Diamond Peak Property is located at the southern end of the prolific Carlin Trend of Nevada, which contains numerous gold deposits. The property now comprises 134 claims located 32 miles north of the town or Eureka, Nevada and the Archimedes gold deposit owned by Barrick Gold Corporation. Strong surface mineralization occurs in a 2 mile long band of intensely clay altered rocks, 200 to 300 feet wide, on the hanging wall side of a major north striking normal fault, called the West Fault.
Kokanee completed only two drill holes at Diamond Peak and has elected not to make the annual option payment of US$50,000 now due to MAX. Kokanee has agreed to deliver to MAX all geological reports and data on the property, which includes a "3-d" Induced Polarization ("IP") survey that utilized computer data interpretation to provide a comprehensive model which enabled the IP survey to not only measure along the line of survey but between the lines. A total of 4 kilometres of strike length was surveyed and the data was interpreted to find further targets on the property. There were two clearly noticeable features of interest found in the inverted resistivity and chargeability models along with two other anomalous features within the surveyed area. The two features of immediate interest were a north striking linear fault-like structure and a circular intrusive-like feature in the southern portion of the geophysical grid. To further evaluate these features, the geochemical grid will be extended to the east and south, and further work will be done to expand the anomalous zones, especially to the east and north and where anomalous silver and zinc values occur in soils.
During previous historic work done by MK Gold in 1999 they encountered gold and base metal values that included:
- 5 feet of 0.067 opt (2.08 grams) Au in hole DV 99-4 and 5 feet of 0.062 opt (1.93 grams) Au in hole DV 99-5;
- 11.6 % Zinc over 5 feet within 60 feet of surface along the West Fault in the Chainman formation in hole DV 99-15; and
- 106 g/t silver in outcrop (3.40 ounces per ton) which was never followed up.
Stuart Rogers, the President of MAX, states "We have identified at least three areas of interest for gold, zinc and silver at Diamond Peak, none of which were tested by Kokanee during their recent two hole drill program. We acquired the Diamond Peak property in 2006 and only optioned it to Kokanee due to our lack of working capital at the time and inability to fund extensive exploration on our own. With cash on hand now in excess of $2.5 Million and gold currently trading in excess of $1,200 per ounce, we are extremely pleased to be re-acquiring a 100% interest in such an attractive exploration project on the Carlin Trend. We will be conducting an aggressive exploration program at Diamond Peak during the balance of 2010, which we will outline in future news release."
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. The historic information has not been verified by MAX and has been provided for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three gold properties in Nevada being actively explored in 2010. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (800) 248-1872 or (604) 637-2140
info@maxresource.com www.maxresource.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Telephone: (800) 248-1872 or (604) 637-2140
info@maxresource.com www.maxresource.com
The TSX Venture Exchange does not accept 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.
MAX drills 27.4 meters of 0.467 g/t gold and 3 meters of 1.79 g/t gold at Table Top, Nevada; deeper drilling planned
In addition to the 15 holes completed at Table Top, three trenches were dug and sampled near the original drill hole reported by Gold Fields Mining Company that contained 50 feet of 0.027 opt Au. The current core holes were drilled to be perpendicular to the strike of the mineralized zone and across mineralization which is hosted in a silicified tectonic breccia.
All significant gold assays are listed below:
| Hole | Angle | From (m) | To (m) | Width (m) | Gold (g/t) |
| MT 1 | -45 degrees | 6.09 | 12.2 | 6.11 | 0.749 |
| Including | 9.1 | 10.7 | 1.6 | 1.436 | |
| MT 2 | -60 degrees | 12.2 | 39.6 | 27.4 | 0.467 |
| Including | 27.4 | 35.0 | 7.6 | 0.760 | |
| MT 4 | -45 degrees | 16.7 | 22.8 | 6.1 | 0.614 |
| Including | 18.3 | 21.3 | 3.0 | 0.783 | |
| MT 5 | -75 degrees | 21.3 | 25.9 | 4.6 | 0.396 |
| Including | 24.4 | 25.9 | 1.5 | 0.794 | |
| MT 6 | -60 degrees | 16.8 | 21.3 | 4.5 | 0.545 |
| Including | 18.3 | 19.8 | 1.5 | 1.27 | |
| MT 7 | -75 degrees | 22.9 | 24.4 | 1.5 | 0.734 |
| MT 8 | -45 degrees | 10.7 | 18.3 | 7.6 | 0.664 |
| Including | 15.3 | 16.8 | 1.5 | 1.290 | |
| MT 9 | -75 degrees | 28.9 | 30.4 | 1.5 | 0.451 |
| MT 11 | -45 degrees | 18.3 | 19.8 | 1.5 | 0.558 |
| MT 12 | -75 degrees | 32.0 | 35.0 | 3.0 | 1.79 |
| Including | 32.0 | 33.5 | 1.5 | 2.562 |
All mineralized core from this drill program was split and submitted for assay to Inspectorate America Corp, an ISO certified Laboratory in Reno, Nevada.
The drill results at Table Top indicate that MAX may have found a potential mineralized feeder similar to a Carlin Type gold system. Multi-element geochemical values of arsenic, antimony and mercury are all extremely elevated with respect to background; numerous 1.5 m intercepts exceed 100 ppm arsenic and antimony, with thallium values in excess of 10 ppm. All of these elevated values are directly associated with elevated (in excess of 100 ppb and as high as 2,562 ppb) gold values. Silver, tellurium, selenium and base metal values are all low. Geologic interpretation indicates the zone is a 20 meter to 30 meter wide, northeast striking and southeast dipping structural zone. Gold and associated trace element mineralization is associated in and surrounding a silicified breccia (jasperoid). Low grade gold mineralization associated with high grade trace elements is often found to occur in Carlin style gold feeder systems, as have lamprophyre dikes that have also been identified in this zone. Lamprophyres are often found in Carlin systems and are indicative of deep seated structures. Continued evaluation of the drilling data is underway; additional drilling will target deeper mineralization where high grade gold deposits have been found in the recent past at Carlin systems (such as Meikle and Deep Star). Max intends to test this theory during a phase 2 drill program this summer that will be designed to test these deep targets.
A map showing the location of the trenches and drill holes completed at Table Top will be available soon on our web site at www.maxresource.com.
The Table Top gold project consists of approximately 157 claims totaling 3,142 hectares located near the town of Winnemucca in Humboldt County, Nevada and is only one half hour by gravel road north of town. Table Top is 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. Along this trend is AMAX's Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the Goldbanks gold occurrence located 37 miles to the south, and the Sandman gold deposits (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) immediately to the north, where drilling by Newmont continues to highlight the high-grade nature of near-surface gold mineralization.
This news release has been reviewed by Clancy J. Wendt, P. Geo, a qualified person as that term is defined under National Instrument 43-101. The historic information provided has not been verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three gold properties in Nevada being actively explored in 2010. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com | www.maxresource.com
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.
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com | www.maxresource.com
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. Further, this news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that the United States Securities and Exchange Commission's mining guidelines prohibit information of this type in documents filed with the SEC and that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
MAX completes drill program at Table Top gold project; Drilling commences at Diamond Peak gold/zinc project in Nevada
MAX has also been advised by Kokanee Minerals Inc. (TSX.V: KOK) that it has begun drilling at MAX's Diamond Peak gold/zinc property in Eureka County, Nevada. Pursuant to a May 2006 option agreement, Kokanee can earn a 51% interest in the Diamond Peak project by spending US$1 Million on exploration, reimbursing all lease payments and issuing 600,000 shares to MAX.
Table Top, Humboldt County, Nevada
In addition to the 15 holes completed at Table Top, three trenches were dug and sampled near the original drill hole reported by Gold Fields Mining Company that contained 50 feet of 0.027 opt Au. The current core holes were drilled to be perpendicular to the strike of the mineralized zone and across mineralization which is hosted in a silicified tectonic breccia. Initial rush assays received in early May 2010 from a small sample of this silicified breccia included an 1.5 meter interval assayed at 1.435 g/t Au (see our news release dated May 3 2010). The mineralized zone is being explored to the southwest and to the northeast along a distance of 233 meters, with clay and silica altered rock intersected in each of the drill holes, and is still open in both directions and at depth.
Drilling also intersected highly altered intrusive rocks which are likely lamprophyres commonly found in Carlin style gold deposits in northern Nevada. Lamprophyres are thought to originate from deep crustal or upper mantle regions and extend to the surface along crustal scale structures, which are identified as feeder systems for Carlin gold systems at depth. Max intends to test these deep targets during a phase 2 drill program to be conducted later this year.
A map showing the location of the trenches and drill holes completed at Table Top will be available soon on our web site at www.maxresource.com.
The Table Top gold project consists of approximately 157 claims totaling 3,142 hectares located near the town of Winnemucca in Humboldt County, Nevada and is only one half hour by gravel road north of town.
Table Top is located along the Kings River Rift, a regional geologic feature that appears to control mineralization in the area and which hosts multiple high-grade vein-related gold systems. Along this trend is AMAX's Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the Goldbanks gold occurrence located 37 miles to the south, and the Sandman gold deposits (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) immediately to the north, where drilling by Newmont continues to highlight the high-grade nature of near-surface gold mineralization.
Diamond Peak, Eureka County, Nevada
The Diamond Peak project consists of 38 claims located 32 miles north of Eureka, Nevada at the south end of the Carlin Trend. Strong surface mineralization occurs in a 2 mile long band of intensely clay altered and silicified rocks, 200 to 300 feet wide, on the hanging wall side of a major north striking normal fault, called the West Fault. Historic drilling conducted by MK Gold in 1999 intercepted 5 feet of 1.93 g/t Au in hole DV 99-5, 5 feet of 2.08 g/t Au in hole DV 99-4 and 11.6 % of Zinc over 5 feet within 60 feet of surface along the West Fault in the Chainman formation (hole DV 99-15).
Kokanee has advised that the phase I program will included drilling core holes on the site of gold zones to confirm their down-dip extension. This drilling should be able to provide data to explain the geological setting of these zones as well as the associated Induced Polarization ("IP") resistivity and chargeability anomalies identified during a survey conducted on behalf of Kokanee by SJ Geophysics in 2006. A drill hole is also planned to test the geophysical and geological target identified by the IP survey on the tertiary intrusive.
This news release has been reviewed by Clancy J. Wendt, P. Geo, a qualified person as that term is defined under National Instrument 43-101. The historic information provided has not been verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three gold properties in Nevada to be actively explored in 2010. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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.
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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. Further, this news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that the United States Securities and Exchange Commission's mining guidelines prohibit information of this type in documents filed with the SEC and that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
MAX drills 0.823 g/t gold over 4.6 meters in silicified breccia at Table Top, Nevada; intersects potential Carlin style lamprophyre feeder system
A total of 14 diamond drill holes totaling approximately 600 meters have been completed and three trenches were dug and sampled near the original drill hole reported by Gold Fields Mining Company that contained 50 feet of 0.027 opt Au. The holes were drilled to be perpendicular to the strike of the mineralized zone and cross mineralization which is hosted in a silicified tectonic breccia. A fan of holes were drilled to intersect the mineralized zone at three different intervals down the dip of the mineralized structure. The zone is being explored to the southwest and to the northeast along a distance of 233 meters, with clay and silica altered rock intersected in each of the drill holes, and is still open in both directions.
In addition, drilling intersected highly altered igneous rocks which have been examined by five senior geologists, all of whom have worked in Nevada on Carlin type deposits for no less than 20 years each. They all agree these dikes are likely highly altered lamprophyres commonly found in Carlin style gold deposits in northern Nevada. Lamprophyres are thought to originate from deep crustal or upper mantle regions and extend to the surface along crustal scale structures, which are identified as feeder systems for Carlin gold systems at depth. MAX intends to test this theory during a Phase 2 drill program later this year that will be designed to test these deep targets.
The significant gold assays are listed below:
Hole |
Angle |
From (m) |
To (m) |
Width (m) |
Gold (g/t) |
MT 1 |
-45 degrees |
9.1 |
13.7 |
4.6 |
0.823 |
Including |
|
9.1 |
10.7 |
1.6 |
1.436 |
MT 2 |
-60 degrees |
12.2 |
36.6 |
24.4 |
0.473 |
Including |
|
27.4 |
36.6 |
9.1 |
0.703 |
MT 4 |
-45 degrees |
15.2 |
19.8 |
4.6 |
0.631 |
Including |
|
16.8 |
18.3 |
1.5 |
0.858 |
MT 5 |
-75 degrees |
18.3 |
25.9 |
7.6 |
0.476 |
Including |
|
24.4 |
25.9 |
1.5 |
0.794 |
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. A map showing the location of the trenches and drill holes completed at Table Top is being constructed and will be available soon on our web site at www.maxresource.com.
Mr. Clancy Wendt, VP Exploration for MAX states "We are extremely pleased with our initial exploration results at Table Top. Not only have we intercepted mineralization reported by prior operators but we have also extended the known area of mineralization and determined that it is trending to the southwest, northeast, down dip and is still open. We have not yet determined the full extent of the gold mineralization at Table Top and have only begun to understand the system. We are still developing geologic concepts as to the origin of the mineralization and potential for expanding the known mineralized system, especially given the discovery of lamprophyre dikes."
The Table Top gold project consists of approximately 157 claims totaling 3,142 hectares located near the town of Winnemucca in Humboldt County, Nevada and is only one half hour by gravel road north of town.
Table Top is located along the Kings River Rift, a regional geologic feature that appears to control mineralization in the area and which hosts multiple high-grade vein-related gold systems. Along this trend is AMAX's Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the Goldbanks gold occurrence located 37 miles to the south, and the Sandman gold deposits (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) immediately to the north, where drilling by Newmont continues to highlight the high-grade nature of near-surface gold mineralization.
This news release has been reviewed by Clancy J. Wendt, P. Geo, a qualified person as that term is defined under National Instrument 43-101. The historic information provided has not been verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three gold properties in Nevada to be actively explored in 2010. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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.
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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. Further, this news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that the United States Securities and Exchange Commission's mining guidelines prohibit information of this type in documents filed with the SEC and that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.
MAX intersects mineralized zone of silicified breccia during drilling at Table Top gold project in Nevada.
Prior to drilling, a trench was dug that exposed a silicified brecciated zone at surface, with assay results showing anomalous gold, arsenic, antimony and mercury. Significant gold results from this trenching are reported in the following table:
| Sample | Channel Distance (feet) | Assay (g/t Au) |
| 51 52 53 54 56 | 0-5 5-10 10-15 15-20 25-30 | 0.92 0.42 0.33 0.56 0.1 |
The Table Top property is comprised of 171 claims (3,420 acres) located 10 miles west of the town of Winnemucca, Nevada, just off of Interstate 80.
Table Top is located along the Kings River Rift, a regional geologic feature that appears to control mineralization in the area and which hosts multiple high-grade vein-related gold systems. Along this trend is AMAX's Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the Goldbanks gold occurrence located 37 miles to the south, and the Sandman gold deposits (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) immediately to the north, where drilling by Newmont continues to highlight the high-grade nature of near-surface gold mineralization. More information on Table Top is available on our web site at www.maxresource.com.
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. The historic information provided has not been verified by MAX and is for reference only.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on gold, with three gold properties in Nevada being actively explored in 2010. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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.
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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. Further, this news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that the United States Securities and Exchange Commission's mining guidelines prohibit information of this type in documents filed with the SEC and that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.