MXROF"
Shares Issued: 21,699,230 Cash: $2.9 Million
http://www.maxresource.com/i/pdf/profile.pdf
Property Summaries:
Nevada Gold – Table Top (100%). Table Top is located 10 miles northwest of the town of Winnemucca, Nevada. The property consists of 171 claims (3,420 acres). Permitting is underway for a 16 hole diamond drill program to be conducted in early 2010. Prior to drilling, up to 12 trenches will be completed to expose the bed rock for sampling.
The Table Top area is on trend with AMAX’s Sleeper Canyon Mine (2.5 MM oz Au produced), located 25 miles to the north, the recently announced Sandman gold deposit (a joint venture between Newmont Mining Corporation and Fronteer Development Group Inc.) 8 miles to the north, and the Gold Banks gold occurrence to the south. This zone of mineralization is along the Kings River Rift, a regional feature which appears to control mineralization in the area.
Clancy Wendt, VP Exploration states “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, we have identified previously unreported structures that support our theory that prior drilling was drilled down the dip of the beds and thus missed the mineralized zone. We feel that the Table Top area is geologically favorable for the discovery of a medium-sized high grade, bonanza style gold deposit in a near surface environment.”
Nevada Gold - East Manhattan Wash (100%). East Manhattan Wash 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, Nye County, Nevada. The total mineralized zone encompasses an area 5,500 by 1,500 feet in size while still remaining open to the north, east, and west. A total of 138 samples were reported in November, 2009 having significant values ranging from 0.05 ppm to 1.5 ppm gold, (1.5 grams per tone). Large volume soil samples reported in early 2009 returned significant gold values up to 0.32 ppm Au and a bulk sample also in early 2009 recovered 4.9 grams/ton gold and 1.2 grams/ton silver from a 793 pound sample. A large sample data base (1,107 samples) containing values of up to 3.3 ppm Au in rocks and up to 1.0 ppm Au in soils was recently acquired by MAX. These samples, along with MAX’s latest results, have been added to our sampling data base and new maps are being created to better define the anomaly for further work, which will include trenching and large bulk samples prior to drilling during 2010. The first of these maps is now available on our web site at www.maxresource.com.
Clancy Wendt, VP Exploration of MAX, states “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. A large sample is being taken where the highest grade sample was found to define how deep the mineralization extends and to see if it increases in grade.”
Nevada Gold/Zinc – Diamond Peak: Kokanee Minerals (TSX.V:KOK) can earn a 51% interest in Diamond Peak by spending US$1 Million on exploration, reimbursing all lease payments and issuing 600,000 shares to MAX. The Diamond Peak project is 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. 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 (hole DV 99-15). Drilling has been permitted for early 2010.
Management and Directors:
* 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 well-respected professional geologist, Mr. Wendt has over 40 years of experience in gold, silver, base metal and uranium exploration with such notable exploration companies as Phillips Uranium, Teton Exploration, Duval and Westmont. As exploration manager for Westmont, managing a staff of eleven geologists, he is credited with the Mt. Hamilton gold/molybdenum discovery in Nevada and directed the programs which led to the discovery of other gold deposits in the Carlin Trend. A past President of the Geological Society of Nevada, Mr. Wendt 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.
* Daniel MacInnis (P. Geo), Director - Currently the President and Chief Executive Officer of MAG Silve
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