Drill Permit received for Ravin Molybdenum/Tungsten Property in Nevada
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has been granted a drill permit by the Bureau of Land Management for the Ravin molybdenum/tungsten property in Lander County, Nevada. The Ravin Property is comprised of 162 claims located 20 miles north of the town of Austin in Central Nevada.
Historically, the property has been explored by Union Carbide, Houston Oil and Minerals and Freeport Exploration. Union Carbide drilled three core holes with the deepest hole drilled to a depth of 500 feet. Houston Oil subsequently acquired the property in 1978 and drilled six core holes in the Reward tungsten pit. As part of a regional rock and soil geochemistry program, Houston Oil identified a coherent molybdenum soil anomaly. They drilled two diamond drill holes and reported an intercept of 40 feet of 0.66% Mo in hole RW 7-A.
Freeport optioned the property in 1981 and drilled 17 rotary and core drill holes to test a molybdenum-copper-fluorine anomaly found within the Cambrian sedimentary units. The anomalous zone showed strong structural control and is thought to be associated with the contact zone of the Cadro Pluton. All but 4 drill holes encountered molybdenum mineralization and many contained significant mineralization. Some of the historic drill holes exist in the form of reports and summaries of the drilling, exploration, drill logs and assays but none of the original assay sheets are available. Highlights included hole RW 80-7, where Freeport reported an interval of 250 feet of 0.063% Mo beginning at a depth of 100 feet.
Strong surface molybdenum and tungsten mineralization occurs within Cambrian sediments which have been intruded by two separate Cretaceous granitic to quartz monzonite plutons. The Raven Pluton is the largest and crops out over an area of about 2 square miles. The smaller Cadro Pluton crops out over a ½ square mile area in the northwest part of the project. The Cadro Pluton appears to be responsible for a majority of the hydrothermal alteration and molybdenum mineralization seen on the project.
MAX has secured a drilling contractor for an initial 11 hole drill program designed to follow up on the previous drilling reported by Houston Oil and Minerals and Freeport and to further the area of known mineralization. Drilling will commence as soon as weather permits.
The reports by Freeport and Houston Oil and Minerals are not NI 43-101 compliant and predated National Instrument 43-101. There has been no NI 43-101 Geological Report completed on the claims or on the Ravin project. The historic information provided is for reference only and the reader should not infer or assert that the information is correct, reliable, relevant or accurate and should not 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 National Instrument 43-101. About MAX Resource Corp.
MAX Resource Corp. is a Canadian based exploration company with a diversified portfolio of mineral exploration projects in Canada and the Western United States. Our properties include Uranium projects in the south western U.S. and northern Canada, Molybdenum in Alaska and Nevada, and Gold in Nevada. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors ofMAX Resource Corp.
Contact: Leonard MacMillan, Corporate Communication
Telephone: (800) 248-1872
www.maxresource.comThe TSX Venture Exchange does not accept 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.Back to Past News