Max Resources completes Indata drilling program
Max Resource Corp(C:MXR)
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Last Close10/21/2008 $0.165
Thursday October 23 2008 - News Release
Mr. Stuart Rogers reports
MAX COMPLETES DRILLING AT INDATA GOLD/COPPER PROJECT IN B.C.
MaxResource Corp. has completed five holes totalling 1,035 metres (3,400feet) at the Indata gold/copper property in central British Columbia,located approximately 120 kilometres northwest of the town of Fort St.James.
At Indata, lode gold is being targeted following themother lode model developed in California. In early 2008, Max completeda review of historic work at Indata and concluded that very littleexploration had been done in the downdip direction of the previousdrilling. If the Indata property was indeed a mother lode-style system,then significant downdip extension of previously found mineralizationcould be expected. Twenty-four historic diamond drill intercepts,drilled by Eastfield Resources Ltd. at Indata in 1988 (and financed byPlacer Dome through private placements), have an average vein interceptof 1.54 metres width with an average grade of 8.41 grams per tonne(g/t) gold and 52.43 g/t silver. The most significant intercept, hole88-11, included an intercept of 47.26 g/t gold and 2.0 g/t silver overfour metres (estimated to be 3.5 metres true thickness).
Fourholes were completed in the gold target at Indata during the currentprogram, with all holes encountering variable thicknesses of quartzsulphide mineralization. A fifth hole was completed in an adjacent andpossibly unrelated porphyry copper target. A map indicating thelocation of the current drill holes is available on the company'swebsite.
Indata is one of two exploration projects in BritishColumbia recently optioned from Eastfield Resources, as announced inthe company's news release in Stockwatch on June 9, 2008.
Max hascompleted four separate drill programs in 2008, at Gold Hill in Alaska(molybdenum), Ravin in Nevada (molybdenum), Howell in B.C. (gold) andnow at Indata. Drill results from these programs are expected to beavailable over the coming weeks. Max remains well financed, with$4.7-million in cash and cash equivalents as of the date of this newsrelease.
This news release has been reviewed by Clancy J. Wendt,PGeo, a qualified person as that term is defined under NationalInstrument 43-101.
© 2008 Canjex Publishing Ltd.