Dallas, Texas (August 9, 2011) – StockGuru Shines its Spotlight on MAX Resource Corp. (TSX.V: MXR) (OTCBB: MXROF) ( Frankfurt: M1D) announced yesterday that the Company has completed an extensive soil sampling program across a surface area in excess of 5,000 x 2,500 meters (m) at its Majuba Hill copper/gold/silver project in Pershing County, Nevada. A total of 834 soil samples were taken. As a result of this exploration activity, additional targets have been identified and the seven hole drill program at Majuba Hill was expanded to include an additional hole on one of these new exploration targets. A total of 1,112 meters of core drilling was completed at Majuba Hill; assay results from both programs are pending. The Company closed down 17% on August 8, 2011, at $0.207, trading in a fifty-two week range of $0.549 – 0.1454.
The results of this soil sampling will assist in identifying high priority drill targets for further drilling planned for late fall at three new untested target areas at Majuba Hill that could significantly expand the mineralized zone. Along the northwest side of the Majuba Hill property, extensive sampling was undertaken to follow up on silver (Ag) values up to 980 g/t Ag, as well as 2% Copper (Cu), reported by Minterra Resource Corp. in 2008. In the southern portion of the property area, sampling followed up on values of up to 792 g/t Ag reported near the site of the Last Chance Silver Mine. The Last Chance Silver Mine is a past producing mine, where production of 40 opt silver was reported in the early 1900’s. In addition, sampling was undertaken on the newly identified “Ball Park” target area one km east of the Copper Stope target area (where drilling was just completed), following up on previously reported sample values of 106 g/t Ag and 3.6% Cu.
The current drill program at Majuba Hill commenced in June 2011 on patented land at the Copper Stope target area, the site of the past producing Majuba Hill mine. The drill program was designed to expand and define the extensive zones of high grade copper/silver mineralization identified during reverse-circulation drilling conducted by Minterra in 2007. Highlights of Minterra’s drilling included 145 feet at 1.85 opt Ag and 0.49% Cu, inclusive of 15 feet at 5.1 opt Ag (hole MH-6) and 100 feet at 0.99 opt Ag, inclusive of 15 feet at 4.0 opt Ag (hole MH-5). Of 7 holes drilled by Minterra at the Copper Stope target, 6 holes reported currently economic grades of copper/silver mineralization. The mineralized system is currently open to the north, east and west and to depth.
MAX believes that Majuba Hill is a newly defined large scale intrusive-type porphyry system that is highly prospective for the discovery of new zones of economic copper/silver mineralization. The site of numerous past producing mines, with historic production reported of 12% Cu (Mason Valley Copper in 1918) and silver grades up to 40 opt Ag, Majuba Hill encompasses 2,568 acres of surface and mineral rights that include patented lode mining claims. The property lies 30 miles northwest of Coeur d’Alene’s Rochester mine (which has produced 127 million ounces of silver and 1.5 million ounces of gold since 1986) and is easily accessed via 23 miles of well-maintained dirt roads leading from U.S. Interstate 80.
For more detailed information on the Majuba Hill copper/silver project, including project maps, please visit 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 precious metals in Nevada, where four gold and silver properties are being actively explored in 2011. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
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.
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