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Mining Explorers 2009: Max Resource Corp.

 

Last updated 11/1/2009 at Noon



MXR: TSX-V; MXROF: OTCBB; M1D:FSE

President: Stuart Rogers

Vice President, Exploration:

Clarence J. (Clancy) Wendt

Max Resource Corp., incorporated in Alberta in 1994, is a mineral exploration company focused on gold, molybdenum and uranium in North America.

Max has properties scattered across the West, including gold and molybdenum claims in Alaska and uranium assets in Northwest Territories.

The Gold Hill property located about 212 miles, or 342 kilometers, north-northeast of Anchorage, Alaska, encompasses an intrusion-related gold system, which has many of the characteristics of a Tintina Gold Belt system.

The Tintina Gold Belt is an arcuate, 1,200-kilometer-long metallogenic province extending from northern British Columbia into southwestern Alaska.

During 2008, MAX completed a 10-hole diamond drill program (7,664 feet, or 2,358 meters) at the Gold Hill molybdenum-copper-gold project, which covers 8,520 acres, or 3,535 hectares.

Max expanded the area of known mineralization and gained a better understanding of the mineralized system.

The Vancouver, B.C.-based junior also drilled through overburden, showing that molybdenum mineralization previously not observed at the surface exists under Gold Hill.

Max can earn up to a 90 percent interest in the Gold Hill claims by completing US$2.25 million in exploration work by Dec. 31, 2011, and other considerations.

Max reported intercepts of 50 feet averaging 0.1212 percent molybdenum; 100 feet of 0.0712 percent molybdenum at Gold Hill molybdenum-copper-gold project in Alaska in February.

In June 2008 Max entered into an option agreement with Eastfield Resources Ltd. whereby it can earn up to a 60 percent interest in the Indata gold-copper property in British Columbia.

Max can earn a 60 percent interest in the Indata property over a three-year period by paying cash and stock and spending C$1.15 million over a three-year period on exploration.

Max completed a five-hole drilling program last fall at Indata totaling 1,035 meters, or 3,400 feet, of NQ core.

The 2008 exploration program consisted of one drill hole (08-I-01) in the porphyry copper target and four holes (08-1-02 to 08-I-05) in the precious metal vein target.

Max reported intercepts grading 8.20 grams per metric ton gold over three-tenths of a meter and 209.0 g/t silver over one-half meter at Indata.

The junior since has focused on properties in southern British Columbia and other western states.

Cash and short-term deposits: C$3.81 million (at June 30, 2009)

Working capital: C$3.97 million (at June 30, 2009)

Market capitalization: C$4.85 million

400 Burrard St., 14th Floor

Vancouver, BC Canada V6C 3G2

Tel: 604-643-1719

Fax: 604-643-1789

http://www.maxresource.com

 

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