MAX Resource – Drilling 3 Nevada Gold Projects

Mon, Mar 30, 2009

Overview

MAX Resource Corp. is focused on exceptional gold exploration opportunities in Nevada. MAX has a diversified portfolio and plans to drill on three of their properties in 2010.

During 2010, MAX intends to focus its efforts and cash resources (approximately $3 Million) on exploration for gold at its three gold projects in Nevada, (Table Top, East Manhattan Wash and Diamond Peak)

Property Summaries

Table Top Property

Gold in Nevada – Table Top is located 10 miles northwest of the town of Winnemucca, Nevada. The property has been expanded to 171 claims (3,420 acres). Permitting is underway for a 16 hole drill program scheduled for early 2010. Prior to drilling, up to 12 trenches will be completed to expose the bed rock for sampling.

TableTopTrend
During the 1980’s Gold Field’s, Meridian Minerals and Santa Fe Mining conducted exploration on and around the Table Top property. A trench containing 4 g/t gold over 1.5 meters was tested by a limited (ten-hole) drilled program that intercepted 16.8 meters at 0.84 g/t gold from surface. In preparation for this drill program, MAX has obtained and reviewed aerial photos, geology maps, geochemical assay maps, and geophysics which covers IP, SP, and Magnetics, as well as data from the limited drilling conducted on the property. As a result, company management believes they have identified previously unreported structures that support their theory that prior drilling was drilled down the dip of the beds and thus missed the mineralized zone.

East Manhattan Wash

Gold in Nevada – The East Manhattan Wash project is located eight miles south of the Kinross/Barrick Round Mountain mine where in excess of 14 million ounces of gold have been produced to date. A bulk sample taken in 2009 recovered 4.9 g/t Au from a 793 pound sample. Drilling is planned for early 2010. The property is comprised of 133 claims (2,660 acres) located 40 miles north of the town of Tonopah, Nevada. We believe that the EMW claims offer the opportunity to find high grade gold deposits within a well known mineralized province.

EastManhattan2 Clancy Wendt, VP Exploration of MAX, is quoted saying “With these latest sample results, and the additional data we have acquired, we have now defined a significant area of gold mineralization that contains potential for a large mineralized system. More important is the fact that the mineralization appears to be free gold within the volcanic tuff.”

Diamond Peak gold-zinc project

The Diamond Peak project consists of 38 claims located 32 miles north of Eureka, Nevada in the Carlin Trend. Strong surface mineralization occurs in a 2 mile long band of intensely clay altered rocks, 200 to 300 feet wide, on the hanging wall side of a major north striking normal fault, called the West Fault.

Kokanee Minerals Inc. (TSX.V: KOK) has advised MAX that it intends to conduct a seven hole drill program at the Company’s Diamond Peak gold/zinc project in Nevada during 2010. Pursuant to a May 2006 option agreement, Kokanee can earn a 51% interest in the Diamond Peak project by spending US$1 Million on exploration, reimbursing all lease payments and issuing 600,000 shares to MAX.

Ravin Property (100%)

Molybdenum/Tungsten in Nevada – MAX is focusing on a skarn/intrusive system containing high grade Molybdenum and Tungsten. Drilling followed up on the results of historic work by Freeport Exploration and Houston Oil and Minerals that reported drill intercepts that included 30 ft of 0.66% Mo and 250 feet of 0.062% Mo starting at 100 feet from surface (includes 50 feet of 0.13% Mo).

Results from the 2008 drilling program at Ravin included 5.6 meters of 0.2133% Mo and 0.37 meters of 1.397% Mo. High grade mineralization (greater that 0.6% Mo) reported at a depth of 790 feet by Houston Oil and Minerals was not tested due to the water problems, lost circulation and poor recoveries encountered.

C de Baca (100%)

Uranium in New Mexico – A 14 hole drill program conducted in 2007 to follow up on historic Occidental Minerals drilling was successful in confirming historic uranium grades. Highlights included hole CDB-6, which returned 6.5 feet of 0.136% eU308 starting at a depth of 155 feet and a five foot section of 0.167% eU308 at 170 feet. All uranium mineralization was within 200-300 feet of surface. Drill permits are in place for a diamond drill program designed to detail and investigate the higher grade mineralized zones.

Management

Stuart Rogers, President. Mr. Rogers has been involved in the venture capital community since 1987. He is currently the President of West Oak Capital Group, Inc., a privately held investment banking firm specializing in the early stage finance of resource and technology projects through the junior capital markets in Canada and the United States, and has served as a director of client companies listed on the TSX Venture Exchange, the Toronto Stock Exchange, NASDAQ Small Cap and NASD OTC Bulletin Board.
Clancy Wendt (P.Geo), Vice-President Exploration. A consulting geologist credited with the Mt. Hamilton molybdenum/gold discovery in the Carlin Trend of Nevada, Mr. Wendt has prior experience in gold, silver, base metal and uranium exploration with such notable exploration companies as Phillips Uranium, Teton Exploration, Duval and Westmont. He has conducted all phases of uranium, gold and base metal exploration, from conceptual targeting to drilling and evaluation, with extensive experience in the United States and Mexico as well as Central and South America.
Christopher Cherry, CA, CGA: Chief Financial Officer. Mr. Cherry has over eight years experience as an accountant and auditor, with KPMG and Davidson and Company in Vancouver. He achieved the Certified General Accountant designation in August 2004 and the Chartered Accountant designation in February 2009. Mr. Cherry is a financial controller with iO Corporate Services Ltd., a private company that provides administrative services to several public companies. Mr. Cherry currently serves as Chief Financial Officer to Luzon Minerals Ltd., Teslin River Resources Corp., and Reva Resources Corp., all of which are listed on the TSX Venture Exchange.
David Pearce, Director, CFO. Mr. Pearce owns a private real estate development and investment company and was a founding shareholder and director of MAG Silver Corp.
Daniel MacInnis (P. Geo), Director. Currently the President and Chief Executive Officer of MAG Silver Corp. (TSX: MAG; AMEX: MVG) Mr. MacInnis has over 30 years of experience in property acquisitions and joint venture negotiations, with a significant number of mineral discoveries having been made under his guidance. In addition, he has managed and directed multi-million dollar exploration programs for Noranda Exploration, Battle Mountain Gold/Hemlo Gold, and Sargold Resources.
Tim Coupland, Director. President of Alberta Star Development Corp. (TSX-V: ASX), a well-financed exploration company focused on uranium exploration in the Northwest Territories of Canada.
Paul John: Director. Mr. John graduated from the University of Victoria, B.C. with a Bachelor of Arts degree, majoring in Economics and Political Science. From 1971 to 1979, he worked with the Hudson Bay Company, a national Canadian department store chain, rising to the senior executive level. In 1980, he acquired a WorkWear World franchise in the interior of British Columbia, developing this initial location into 19 stores in B.C. and the Yukon Territories, with annual sales of $18 million when sold to Mark’s Work Warehouse, a TSX listed company, in 1999. Mr. John is currently General Franchise Manager for Work World in Western Canada.

Signup

Follow MXR on Facebook and Twitter

Analyst Reports

Speculative Buy report from Gateway Securities

In the Media

Max Resource in the Gold Newsletter January, 2010

Latest News on “max resource”

Share Information

Share Structure

Shares Outstanding:

Options:

Fully Diluted:

Stock Exchange:

Cash & Cash Equivalents:

21,699,230

2,225,000

23,924,230

TSX-V: MXR, OTC: MXROF

C$3.3m at Nov. 2009

Share and Enjoy:

Permalink: "MAX Resource – Drilling 3 Nevada Gold Projects"

Tags: analyst reports, capital, Copper, copper-gold, drill, east manhattan, etf, exploration, exploration company, free gold, freeport, gold, gold deposits, gold hill, interest, juniors, kinross gold, management, manhattan mining district, max, max resource, max resource news, metals, mexico, mineral exploration projects, mining, molybdenum, nevada, northern canada, overview, private, property, property summaries, resource, share information, shares, surface sampling, tonnes, tungsten, Uranium, uranium projects