Gold mineralization occurs disseminated in limestone and with quartz stockworks

Tag : tungsten

MAX Resource Corp. has completed a ten hole diamond drillprogram at its Gold Hill molybdenum project in Alaska. Drilling iscontinuing at the Ravin molybdenum/tungsten project in Nevada andat the Howell gold project in B.C., where seven holes totalingapproximately 1,000 metres have already been drilled to date.
The 2008 drill program at Gold Hill in Alaska follows up on a fivehole drill program MAX conducted in 2007 that intersectedsignificant molybdenum mineralization (MoS2) over long intervalsstarting at surface and ending in mineralization at depth in fourof the holes.
MAX's 2007 drill program was testing a broad Molybdenum/Copper/Goldgeochemistry and geophysical magnetic anomaly covering at least a700 by 800 meter area. Prior drilling by the New Alaska Syndicate(Cities Services Minerals and Dome Mines Ltd.) at Gold Hill in the1970's never tested the significant magnetic anomaly that coincideswith the mineralization or the surrounding sedimentary rocks.Further, six of these drill holes, which were tested this year, hadbottomed in mineralization and were never drilled to test thecontact between the magnetic intrusive and the sedimentary host.The deepest drill hole drilling by prior operators was one 500 footangle drill hole drilled oblique to the strike of the sediments.
This first drill hole of the 2008 program tested the zone to theeast of drill hole DH-07-05 to examine the continuation of the highgrade mineralization encountered in drill hole DH-07-01 and underdrill hole DH-07-03.
Drill hole DH-07-05 was an angled drill hole designed to testacross the mineralization that was intersected in drill holesDH-07-02 and DH-07-03. Drill hole DH-07-03 did not cut the entireinterval and mineralization was visibly increasing at the bottom ofthe drill hole as it neared the projection of the main zone. Thishole was also continued this drill season.
Drilling is now completed at Gold Hill, with a total of 10 holeshaving been drilled totaling 7,664 feet. Significant visiblemineralization has been noted in the majority of these holes,however no conclusions can be drawn as to the nature or extent ofsuch mineralization prior to the receipt of assays, which arepending.
The drilling conducted during the current program has expanded theknown area of the mineralized system to the north and northeast. Ithas also drilled through overburden, showing that mineralizationpreviously not seen at the surface exists under Gold Hill. Themineralized system appears to continue to depth and to the northand northeast, with other areas identified this summer to thenorthwest and west.
The Gold Hill property comprises 8,520 acres located approximately212 miles north northeast of Anchorage and is accessible to withinfive air miles of the property by the all-weather unpaved DenaliHighway (State Highway 8).
The Howell Gold Project is comprised of 4,376 hectares located onehour by gravel road south of the town of Sparwood, B.C., straddlingthe drainages of Twenty-Nine Mile Creek and Howell Creek.
At Howell Creek, gold mineralization occurs disseminated inlimestone and with quartz stockworks in syenite intrusives andProterozoic sediments. Prior drilling has included 1.23 g/t goldover 58 metres, 0.95 g/t gold over 39 metres, 0.65 g/t gold over 82metres, and 0.57 g/t gold over 149 metres. A diamond drill holefrom 2006, collared to the west of the surface expression of theimportant Palaeozoic limestone, penetrated a near surface fault andintersected 43 metres of limestone grading 0.42 g/t gold to thebottom of the hole at 66 metres. The last sample in this holegraded 0.44 g/t gold indicating a need to drill deeper and test thetarget along strike; the first hole of the current program deepenedthis hole to approximately 200 metres.
An important additional target which was tested in the currentprogram is Carbonate Replacement Deposit ("CRD") stylemineralization identified during prior drilling.
MAX has now drilled ten holes totaling approximately 1,000 metersat Howell, which is one of two exploration projects in BritishColumbia recently optioned from Eastfield Resources Ltd.(TSX.V:ETF) as announced in our news release of June 9, 2008. Oneof the highlights of the current program has been the intersectionof 90 metres of diatreme breccia hosted in silicified limestone.The presence of solution cavities in limestone/dolomite has causeda few holes to be terminated earlier than planned although mostholes are thought to be visually encouraging having intersectedPaleozoic limestone/dolomite intruded by syenite. Holes shortenedhave been replaced by new holes added to the program. Drilling iscontinuing.
Drilling is also continuing at the Ravin molybdenum/tungstenproperty in Lander County, Nevada where MAX is permitted for an 11hole drill program designed to follow up on previous drillingreported by Houston Oil and Minerals and Freeport. The Ravinproperty is comprised of 162 claims located 20 miles north of thetown of Austin in Central Nevada and approximately 50 miles west ofGeneral Moly, Inc.'s (AMEX & TSX: GMO) Mount Hope molybdenummine, which is scheduled to begin production in late 2010.
Historically, the Ravin property has been explored by UnionCarbide, Houston Oil and Minerals and Freeport Exploration. UnionCarbide drilled three core holes with the deepest hole drilled to adepth of 500 feet. Houston Oil subsequently acquired the propertyin 1978 and drilled six core holes in the Reward tungsten pit. Aspart of a regional rock and soil geochemistry program, Houston Oilidentified a coherent molybdenum soil anomaly. They drilled twodiamond drill holes and reported an intercept of 30 feet of 1.01%MoS2 (0.66% Mo) in hole RW 7-A.
Freeport optioned the property in 1981 and drilled 17 rotary andcore drill holes to test a molybdenum-copper-fluorine anomaly foundwithin the Cambrian sedimentary units. The anomalous zone showedstrong structural control and is thought to be associated with thecontact zone of the Cadro Pluton. All but 4 drill holes encounteredmolybdenum mineralization and many contained significantmineralization. Some of the historic drill holes exist in the formof reports and summaries of the drilling, exploration, drill logsand assays but none of the original assay sheets are available.Highlights included hole RW 80-7, where Freeport reported aninterval of 250 feet of 0.105 MoS2 (0.063% Mo) beginning at a depthof 100 feet.
Drilling commenced on July 10th at Ravin and has been hampered bylack of water in the area and loss of circulation during drillingdue to drilling through silicified and broken quartz breccia,resulting in poor core
recovery and drilling delays. Significant visible molybdenummineralization was noted in the first hole drilled at Ravin,however no conclusions can be drawn as to the nature or extent ofsuch mineralization prior to the receipt of assays.
Two holes have been completed to date at Ravin. Due to theadditional costs and poor core recovery experienced during diamonddrilling at Ravin, MAX plans to complete one more diamond drillhole at Ravin and will resume drilling with a reverse-circulationdrill when available.
The reports by Freeport and Houston Oil and Minerals are notNational Instrument 43-101 compliant and predated NI 43-101. Therehas been no NI 43-101 Geological Report completed on the claims oron the Ravin project. The historic information provided is forreference only and the reader should not infer or assert that theinformation is correct, reliable, relevant or accurate and shouldnot 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 NationalInstrument 43-101.
About MAX Resource Corp.
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MAX Resource Corp. is a Canadian based exploration company with adiversified portfolio of mineral exploration projects in Canada andthe Western United States. Our properties include Uranium projectsin the south western U.S. and northern Canada, Molybdenum in Alaskaand Nevada, and Gold in Nevada and British Columbia. For moreinformation, please visit our web site at www.maxresource.com .






This News Release includes certain "forward looking statements".Without limitation, statements regarding potential mineralizationand resources, exploration results, and future plans and objectivesof the Company are forward looking statements that involve variousdegrees of risk. The following are important factors that couldcause MAX's actual results to differ materially from thoseexpressed or implied by such forward looking statements: changes inthe world wide price of mineral commodities, general marketconditions, risks inherent in mineral exploration, risks associatedwith development, construction and mining operations, theuncertainty of future profitability and the uncertainty of accessto additional capital.
Leonard MacMillan, Corporate Communication, Telephone: (800)248-1872 or (604) 637-2140, info@maxresource.com,www.maxresource.com
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