MAX Completes Eight Drill Holes At Majuba Hill Silver/copper/gold Project In Nevada
TSX-V: MXR OTC BB: MXROF Frankfurt: M1D
VANCOUVER, June 14, 2012 /PRNewswire/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has completed eight holes (872 meters) of the Phase III core drilling program at its Majuba Hill silver/copper/gold project in Nevada. Of these eight holes, the first hole (MM-21) was drilled to a depth of 351 m and tested the southeast extension of near-surface high-grade supergene oxide mineralization identified by Max at the historic Majuba Hill mine during 2011. The remaining seven holes followed up on the discovery hole (MM-18) at the DeSoto zone 1.4 km to the northwest, where MAX intercepted 29.2 m of 98.3 g/t Ag silver equivalent ("AgEq").
Core from this program is currently being split and logged and will be submitted to Inspectorate in Reno for assay, with results expected later this summer and drilling to resume thereafter.
MAX believes that Majuba Hill is a newly-defined silver/copper/gold porphyry system that is highly prospective for a bulk-tonnage, open pit deposit. During drilling in 2011, MAX intercepted high grade copper/silver oxide mineralization near surface over long intervals at the past producing Majuba Hill mine site and the DeSoto zone. Highlights of this drilling include:Majuba Hill Mine:
- 96 m of 39.2 g/t Ag, 0.57% Cu and 0.10 g/t Au (98.3 g/t AgEq) in hole MM-06
- 50.3 m of 50.8 g/t Ag, 0.31% Cu and 0.31 g/t Au (86.7 g/t AgEq) in MM-07
- 42.7 m of 37.5 g/t Ag and 0.38% Cu (73.0 g/t AgEq) in hole MM-03
- 29.2 m of 30.5 g/t Ag and 0.69% Cu (98.3 g/t AgEq) in hole MM-18
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