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In September 2007, MAX entered into an Option Agreement to acquire a 100 % interest in the Ravin molybdenum/tungsten property in Lander County, Nevada, a skarn/intrusive system containing high grade Molybdenum and Tungsten(the "Ravin Property") from Energex, LLC, a Nevada corporation.
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The Ravin Property is a historic Freeport/Huston Oil and Minerals Metal property that was explored during the late 1970's and early 1980's. The property is comprised of 162 claims located 20 miles north of the town of Austin, Nevada. Strong surface molybdenum and tungsten mineralization occurs within Cambrian sediments which have been intruded by two separate Cretaceous granitic to quartz monzonite plutons. The Raven Pluton is the largest and crops out over an area of about 2 square miles. The smaller Cadro Pluton crops out over a ½ square mile area in the northwest part of the project. The Cadro Pluton appears to be responsible for a majority of the hydrothermal alteration and molybdenum mineralization seen on the project.
Freeport drilled 17 rotary and core 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 highlights included:
Drill Hole |
Interval |
Width |
Grade |
Rw 80-2, 81-2c |
600-650 feet |
50 feet |
0.053% MoS2 |
|
800-900 feet |
100 feet |
0.047% MoS2 |
Rw 80-7 |
100-350 feet |
250 feet |
0.105% MoS2 |
Rw 81-11c |
150-350 feet |
200 feet |
0.052% MoS2 |
Rw 81-13c |
550-800 feet |
250 feet |
0.052% MoS2 |
|
1650-1700 feet |
50 feet |
0.055% MoS2 |
Rw 81-14c |
600-650 feet |
50 feet |
0.051% MoS2 |
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Historically, the property had 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 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 the best intercept encountered was 30 feet of 1.01% MoS2 (0.66% Mo). Freeport optioned the property in 1981 and drilled 17 rotary and core drill holes. 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 he original assay sheets are available. Exploration will be conducted to further the known mineralization and confirm previous work, with an 11 hole drill program totaling 11,000 feet to commence as soon as permits are in place.
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 Effective Date |
$25,000 ( U.S.) |
Second anniversary of Effective Date |
$35,000 ( U.S.) |
Each anniversary thereafter |
$50,000 ( U.S.) |
The Ravin Property is subject to a 3% NSR royalty. Upon full exercise of the Option, the Company will own 100% of the project.
Energex, LLC is wholly-owned by Clancy J. Wendt, the Vice President of Exploration for MAX.
The reports by Freeport and Houston Oil and Minerals are not NI 43-101 compliant (and predated NI 43-101). 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 should not be relied upon.
Maps & Photos
Locating Historic Drill Holes
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