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MAX Lays Their Cards on the Golden Table Top
By Claire O'Connor
MidasLetter.com
Thursday, April 29, 2010
MAX Resource Corp. (TSX.V: MXR) is a Canadian exploration company with a diversified portfolio of mineral exploration projects in Canada and the Western United States. The company is currently focused on gold, with three gold properties in Nevada being actively explored in 2010. At the moment, having recently intersected a mineralized zone of silicified breccia, the Table Top property is where the action is at.
The Table Top is a property comprised of 171 claims (3,420 acres) located 10 miles west of the town of Winnemucca, Nevada, just off of Interstate 80.
Following an extensive trenching program that had been conducted on recently acquired claims at Table Top, MAX began a 16 hole core drill program on the property on April 7th and have already had drilling success. A press release issued April 19th states that the company has intersected a mineralized zone of breccia.
According to the press release:
“MAX Resource Corp. is pleased to announce the intersection of silicified breccia near surface in the second and third drill holes during core drilling currently underway at the Company’s wholly-owned Table Top gold project in Nevada. Drill hole MT2 was drilled at a 45 degree angle next to the original vertical drill hole completed by Goldfields during the 1980’s that intersected 55 feet of 0.84 g/t Au (0.027 opt). This hole, as well as hole MT3 drilled at a 60 degree angle at the same location, confirm the existence of the historic mineralized zone reported by Goldfields and support our theory that subsequent drilling by Goldfields drilled down the dip of the beds and thus missed the main mineralized zone. The drill core samples are being sent for assay to Inspectorate America Corp in Reno, Nevada. Drilling is continuing.
Prior to drilling, a trench was dug that exposed a silicified brecciated zone at surface, with assay results showing anomalous gold, arsenic, antimony and mercury. Significant gold results from this trenching are reported in the following table:
The Kings River Rift
An interesting twist in the Table Top tale is that the property is located along the Kings River Rift, a regional geologic feature that appears to control mineralization in the area, and which hosts multiple high-grade vein-related gold systems.
Along this trend is AMAX’s Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the Goldbanks gold occurrence located 37 miles to the south, and the Sandman gold deposits (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) immediately to the north where drilling by Newmont continues to highlight the high-grade nature of near-surface gold mineralization.
Reinforcing the geological potential of the area, Fronteer Development issued a press release as recently as March 25th announcing additional near-surface oxide gold intercepts at Sandman, promoting the projects open-pit mining potential. The release also included drill results of 10.36 g/t Au over 4.18 m at Sandman.
MAX now controls all prospective land available between Table Top and Sandman, where Newmont can earn a 60% interest by spending $23 Million on exploration and advancing the project to a production decision by June 2011.
In a Press Release issued March 8th, Clancy Wendt, VP of Exploration for MAX states:
“The trenching and drilling program was determined after having reviewed aerial photos, geology maps, geochemical assay maps, and geophysics, as well as data from the limited drilling conducted to date on the property by prior operators. Also, having reviewed the drill results reported by Fronteer to the immediate north at Sandman, we have a better understanding of the mineralizing systems in the area, especially in the area of rock type, mineralization, structure and alteration seen at the surface. We feel that the Table Top area is geologically favorable for the discovery of a medium-sized, high grade, sedimentary style oxide gold deposit in a near surface environment.”
East Manhattan Wash Gold Property
MAX Resources also has plans for its Nevada based East Manhattan Wash gold project in 2010.
The East Manhattan Wash gold project in Nye County, Nevada is located eight miles south of the Kinross/Barrick Round Mountain mine (+ 14 million oz gold produced to date) and within the prolific Manhattan Mining District. A soil sampling program was launched in 2009, designed to delineate the geometry of the native gold mineralization in three areas of interest.
Significant values in the 138 samples that were reported in November 2009 ranged from 0.05 ppm to 1.5 ppm gold, with two of the zones being open in at least three directions. This significantly expanded the gold mineralized area. A bulk sample conducted in early 2009 recovered 4.9 g/t gold and 1.2 g/t silver from a 793 pound sample. Further sampling and drilling is planned for 2010.
Diamond Peak Gold/Zinc Property
Also on schedule for attention in 2010 is the Diamond Peak gold/zinc project in Eureka County, Nevada. The property consists of over 38 claims located 32 miles north of Eureka 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.
Drilling conducted by MK Gold in 1999 intercepted 5 feet of 1.93 g/t Au in hole DV 99-5, 5 feet of 2.08 g/t Au in hole DV 99-4 and 11.6 % of zinc over 5 feet within 60 feet of surface along the West Fault in the Chainman formation. Kokanee Minerals Inc. is permitted for for a seven hole drill program to be conducted at Diamond Peak possibly as early as May 2010.
MAX have a lot of options at the moment, however, with its brand new drill program on a property that screams potential (supported by Newmont, Fronteer and AMAZ in the chorus line of course), it’s Table Top that’s got the spotlight for now. Stay tuned for the next chapter in the MAX Resource story.
DISCLOSURE: A fee has been paid for the production and distribution of this article and as such should be viewed in the context of advertising.
SOURCE: http://www.midasletter.com/news/100429_Max-resource-lays-their-cards-on-the-table.php
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Gold Exploration
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