MAX stakes additional Utah uranium claims
MAX stakes additional Utah uranium claims
TSX-V Symbol: MXR OTC BB Symbol: MXROF
VANCOUVER, Sept. 13 /PRNewswire-FirstCall/ -- MAX Resource Corp. is pleased to announce that it has established a wholly-owned Nevada subsidiary, MAX Resource, Inc., and staked additional claims around the original 27 PPCO uranium claims it is acquiring in Juab County, Utah. This brings the total to 195 lode claims comprising 3,900 acres.
The PPCO project is located approximately 150 miles southwest of Salt Lake City, about 20 miles west of the town of Delta, Utah and east of the Brushman Wellman beryllium mine. The claims have excellent road access by both graveled and cross county roads. A drill program is being planned for the fall season.
The PPCO Project is a historic Phillips Uranium property that was explored during the early 1980's by Phillips Uranium, a wholly-owned subsidiary of Phillips Petroleum. Phillips encountered uranium grades of approximately 0.05% U3O8, over a 100 foot thickness at a depth of 900 feet within a small caldera. The uranium host rock was identical to the host rock found in the nearby, structurally controlled, Yellow Chief Mine. The Yellow Chief Mine produced approximately 500,000 pounds of uranium which was terminated when the ore zone was found to be faulted off to the East. The zone found by Phillips on the PPCO claims is thought to be an extension of the original Yellow Chief mineralization contained within mote sediments of a smaller caldera within the major Thomas Caldera system. The mineralization appears to be structurally controlled along the edge of this caldera and exploration will follow up on previous work. Due to the geological formations in the area, the property may be amenable to "in-situ leaching "("ISL"), subject to further exploration.
Exploration drilling on the PPCO claims by Phillips was originally supervised by Mr. Clancy J. Wendt, M.S.,C.P.G., Reg. Az. and B.C., the Vice-President of Exploration for MAX, who was employed by Phillips at that time. Mr. Wendt has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Mr. Wendt has a Masters of Science in geology and more than 35 years of relevant experience focused on uranium, base and precious metals and industrial minerals in the US, Mexico, and Latin America. He is a certified Professional Geologist (CPG 4966) by the American Institute of Professional Geologists, an Arizona Registered Geologist (ARG 18283) and a Registered Professional Geoscientist in the Province of British Columbia (P. Geo. 125039).
There has been no NI 43-101 Geological Report completed on the PPCO Claims. The historic information provided is for reference only and the reader should not infer or assert that the information is correct, reliable or accurate.
Utilizing Mr. Wendt's extensive experience in uranium exploration in the western United States, MAX is in the process of acquiring and staking additional claims in the state of New Mexico with historic exploration data that indicates they are highly prospective for uranium.
About MAX Resource Corp.
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MAX Resource Corp. is a Canadian mineral exploration company that identifies, acquires and finances advanced stage exploration projects in the Americas. MAX is currently focused on the discovery of uranium and precious metals, with interests in properties in Alaska, Utah and the Northwest Territories of Canada.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Investor Relations: Leonard MacMillan
Tel: (604) 637-2135
info@maxresource.com
THE CONTENTS OF THIS NEWS RELEASE HAVE NEITHER BEEN APPROVED NOR
DISAPPROVED BY THE TSX VENTURE EXCHANGE.
This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause MAX's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Source: Max Resource Corp.
CONTACT: Investor Relations: Leonard MacMillan, Tel: (604) 637-2135,
info@maxresource.com
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