MAX RESOURCE CORP.
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MAX REPORTS ALASKA MOLYBDENUM
5-HOLE DRILL PROGRAM ASSAYS COMPLETED
822 FEET OF 0.0466% MoS2
Gold Hill Molybdenum Project, Alaska
Assay Results for the Final Two of 5 Diamond Drill Holes Testing a Broad Molybdenum/Copper/Gold Geochemistry and Geophysical Magnetic Anomaly -- Covering a 700m by 800m Area
Drill Hole DH-07-05, an Angle Drill Hole, Returned 0.0466% Mos2 Over a Core Length of 822 Feet -- Including a Higher Grade Intercept of 0.0912% Mos2 (0.0547% Mo) over 57 Feet at the bottom of the hole and still ending in mineralization, thus open at depth -- Copper was also Reported
Drill Hole DH-07-04, a Vertical Hole, Returned Moderately Lower Molybdenum Values over the Entire Length, but Included a 250 Foot Interval of 0.0603% Mos2, with Slightly Better Copper Values. “This is Indicative of a Typical Zoning Pattern Usually Found in a Porphyry System”
Mr. Clancy Wendt, P.Geo., VP Exploration for MAX states: “We now have all the results from the drill program at Gold Hill. We have begun to assess the data and to plan our drill program for next year at Gold Hill. We have four holes carrying strong molybdenum mineralization over long widths and often ending in mineralization. The results from Hole DH0-07-05, combined with those from Hole DH-07-03 (0.058% MoS(2) over 1,000 feet) and DH-07-01, which intersected 0.048% MoS(2) over the entire core length of 965 feet and ended in molybdenum mineralization, continue to indicate that a molybdenum porphyry system is present at Gold Hill." (A drill hole map will be available on MAX’s web site shortly. )
View Today’s Press Release & Full Assay Results
Dear Friends:
We continue to be encouraged with the picture that is emerging at MAX Resources’ Gold Hill Molybdenum Project in Alaska. Again, as Clancy Wendt points out, there are long mineralized intersections at or near surface that remain open at depth. The angle drill hole in particular gives us some further understanding of the dimensions and consistency of the mineralized area. There are two possible scenarios for moly mining, either open pit or underground, and the evidence to date is mounting to support a bulk mineable, open-pit scenario. Factors determining which scenario is appropriate or possible depend on a wide variety of factors including grade, extent of mineralization, nearness to surface etc. (According to the International Molybdenum Association, www.moly.imoa.info, the Mo content of viable ore bodies can range from 0.01 and 0.25%.)
As we said previously: “the five drill holes are testing a large 700m x 800m geophysical anomaly and it is important to note that if the total area is mineralized then the grades being reported from surface to a depth of some 300 meters are indeed significant and supports that MAX might have a bulk mineable molybdenum discovery on their hands? There is compelling evidence pointing in that direction and that has gotten us excited.” Recent work also indicates the mineralization extends even outside the magnetic feature into the sediments creating a mineralized skarn zone. This zone has yet to be tested! It is also very crucial to note that the grade increases at depth, with the higher grade intercept of 0.0912% Mos2 for the last 57 feet of Hole DH-07-05, indicate that it is still open at depth below 837 feet.
Today’s results give us further tangible support for the bulk mineable model at Gold Hill. It will now be an interesting exercise to make some preliminary comparisons of Gold Hill with other bulk mineable moly properties either planned or already in production.
Stay tuned!!!
Regards,
Wayne A. Melvin
