MAX Receives Drill Permit for East Manhattan Wash Gold Project, Nevada
June 12, 2014 (Source: Marketwired) — MAX Resource Corp. (TSX VENTURE:MXR) (OTCBB:MXROF) (FRANKFURT:M1D) has received approval from the U.S. Forest Service to begin drilling at its East Manhattan Wash gold project in Nevada after July 15, 2014.
This program will drill test a surface soil anomaly exposed over a surface area in excess of 1,650 m by 450 m that was identified by soil sampling programs that were conducted by MAX between 2009 and 2013, with values returned ranging from 0.05 ppm to 1.5 ppm (1.5 g/t) Au. During an initial bulk sample conducted in 2009, MAX recovered 4.9 g/t Au and 1.2 g/t Ag from a 793 pound sample taken at surface. Mineralization appears to be free gold in a volcanic lithic welded tuff that will be drill tested to determine the overall depth of the gold mineralization, extend the known mineralization below cover, and determine the overall grade.
While the total mineralized zone now exposed at surface encompasses an area in excess of 1,650 m by 450 m in size, the mineralized area is believed to be much larger but is covered by either overburden or alluvium. Just north of this area, the very small streams all contain free gold that can be recovered by conventional gold panning techniques. Samples taken by other companies that reviewed the property during 2010 and 2011 found values up to 2.4 g/t Au in outcrop.
The sampling conducted at EMW has enabled MAX to identify structural linear features seen in air photo images along with argillic alteration and silicification that appears to define where strong gold values may be found. Sampling of historic pits dug by earlier prospectors has helped further define the areas of mineralization and to confirm the presence of gold. A soil sampling map is available on our web site at www.maxresource.com.
The EMW property is comprised of 78 claims (1,560 acres) located in the Manhattan Mining District 40 miles north of the town of Tonopah and eight miles south of the Round Mountain Mine (jointly owned by Kinross and Barrick), a conventional open pit operation that has produced more than 12 million ounces of gold to date. For 2013, Kinross Gold reported a proven and probable gold resource at Round Mountain (net to its 50% interest) of 42.147 million tonnes at 0.68 g/t Au.
Max has completed the first hole at its Majuba Hill copper/silver project in Nevada (see our news release of May 2, 2014) and is in the process of logging and sampling the core for analysis. This hole was drilled to a depth of 1,200 ft (365 m) on the east side of Majuba Ridge to test a zone of high grade copper and silver mineralization in outcrop (grades up to 7.72% Cu and 174 g/t Ag) sampled by Minterra Resources in 2007. Assay results will be reported when available.
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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 exploration company focused on gold and silver exploration in Nevada. 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, President
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>