JV drills 0.3 m of 8.2 g/t Au at Indata - 2009-01-07
posted on Jan 24, 2009 04:52AM
6 projects - British Columbia & 1 in Nevada.
Max Resource drills 0.3 m of 8.2 g/t Au at Indata JV
2009-01-07 09:48 ET - News Release
See News Release (C-MXR) Max Resource Corp
Mr. Stuart Rogers of Max reports
MAX INTERCEPTS 8.20 G/T GOLD OVER 0.3 M, 209.0 G/T SILVER OVER 0.5 M AT INDATA
Max Resource Corp. has received the assays from five diamond drill holes (1,035 metres) completed in October on the Indata property in Northern British Columbia, a joint venture with Eastfield Resources Ltd., located 120 kilometres north of the town of Fort St. James.
There are two exploration targets on the Indata property, a porphyry copper target and a structurally controlled precious metal vein target. 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.
The precious metal target was tested over a distance of 1,500 metres following the uphill trace of a soil arsenic anomaly believed to define a structural feature which has previously returned a number of gold-silver intercepts, including a four-metre intercept grading 46.2 grams per tonne gold (arsenic, antimony and bismuth have historically accompanied gold mineralization) from a 1988 drill program by Imperial Metals Corp. A number of core samples from the recent drilling returned values exceeding 10,000 parts per million arsenic with correspondingly high values in antimony and bismuth along with a number of narrow gold and/or silver intercepts.
SIGNIFICANT RESULTS Hole From To Metres Copper Gold Silver % g/t g/t 08-I-01 18.3 181.7 163.4 0.14 - - including 123.0 150.0 27.0 0.27 - - 08-I-02 76.5 76.8 0.3 0.18 8.20 4.4 08-I-03 36.7 38.3 1.6 0.14 0.42 79.9 including 37.2 37.7 0.5 0.13 0.40 209.0
Mineralization being targeted at Indata is modelled after the prolific motherlode deposits in California, where cumulative production has exceeded in excess of 100 million ounces of gold. A key assumption to the model is the similarity of the Pinchi fault in the Indata region of central British Columbia to the Melones fault in the motherlode region of California. New exposures of precious metal mineralization, located 800 to 2,000 metres farther to the north, were made in 2007 when excavator trenches exposed narrow veins which returned samples including 17.16 g/t gold and 9.84 g/t gold, respectively. The 2007 vein material was again found to be highly anomalous in arsenic, bismuth, antimony, mercury, selenium and tellurium, providing a signature for gold mineralization of this type. This area was not tested in the current program and a robust soil anomaly also discovered in 2007 remains to be tested as well.
Max is currently reviewing the 2007 exploration data along with data from the 1988/1989 Placer Dome-financed exploration program with a view to better understanding the mineralized system at Indata. Clancy Wendt, PGeo, vice-president of exploration for Max, states: "We are pleased that we have confirmed high-grade values from historic exploration in drill hole 08-01-02 and will be modelling the work done in the 80s and 90s to better define the structurally controlled target. Examination of the 2007 exploration trenches will also help to understand the system and to locate drill targets for consideration during the 2009 exploration season."
Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, B.C., using multielement (ICP-ES) techniques. Bruce Laird, PGeo of Mincord Exploration Consultants Ltd., supervised the 2008 drilling program and sampling protocol. This news release has been reviewed by Mr. Wendt, PGeo, a qualified person as that term is defined under National Instrument 43-101.
Indata is one of two exploration projects in British Columbia optioned earlier this year from Eastfield Resources, as announced in a news release in Stockwatch on June 9, 2008.
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