Silver/Copper/Gold. Exploration and Development. Nevada

Transcription

1 Silver/Copper/Gold Exploration and Development Nevada February 2013

2 Disclaimer This presentation may contain forward-looking statements which reflect the Company s current expectations regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content and results of work programs, geological interpretations and potential mineral discoveries, and negotiation and closing of future financings. The statements reflect the current beliefs of the management of the Company and are based on currently available information. Accordingly, these statements are subject to known and unknown risks, uncertainties and other factors which could cause the actual results, performance, or achievements of the Company to differ materially from those expressed in, or implied by, these statements. In addition, investors are cautioned that this presentation may contain information about mineral properties adjacent to or near the Company s properties and in which the Company has no right or interest. Mineral deposits on such adjacent or near properties are not indicative of the mineral deposits, if any, which may be found on the Company s properties. The historic information provided has not been verified by the Company and is for reference only. 2

3 Investment Highlights Drilling at Majuba Hill in Nevada intercepted near surface high-grade Ag/Cu supergene oxide mineralization a potential open pit deposit amenable to heap leach processing. Drilling returned up to 2 oz/t Ag Eq over wide intersections: - Hole MM-06: 96 m of 39.2 g/t Ag and 0.57% Cu (2.7 oz/t AgEq or 0.99% CuEq) inclusive of 44.2 m of 71.0 g/t Ag, 0.15 g/t Au and 1.14% Cu (5.2 oz/t AgEq or 1.89% CuEq) Drilling has identified oxide mineralization over 500 m of strike and to a depth of 350 m - open to the northeast, southeast and at depth. Permitting underway for a 20 hole development drill program to establish an initial NI compliant inferred resource estimate by the end of Initial metallurgical testing achieved leach recoveries of 84.6% for Cu and 73.4% for Ag Excellent infrastructure, near 3 major mines (Coeur d Alene, Barrick and Allied Nevada). Experienced management and attractive share structure - only 24.5 MM shares issued 2013 objectives: Drilling to establish Inferred Resource estimate at Majuba Ridge (size and grade) Commence initial Preliminary Economic Assessment (internal) Identify and test additional target areas to expand resource potential beyond 100 MMT 3

4 Corporate Structure Share structure (Feb 28, 2013) Common Shares: 24,505,985 Options: 3,280,000 Warrants: 2,016,755 Fully-diluted: 29,802,740 Cash: $ 400,000 Market cap. $ 2.5 Million Management ownership: 36% 4

5 Management Stuart Rogers, President and Director - 25 years of experience in public company finance and management - founder and former CFO of Prophecy Resource Corp. (TSX: PCY) Clarence (Clancy) Wendt, P. Geo, F AusIMM, CP Mgmt VP Exploration and Director - 45 years of experience in gold and silver exploration in the Americas - involved in discovery of 12 gold deposits in Nevada totaling 17 MM oz Au - Past President of Geological Society of Nevada - recent gold discovery Crowsnest in Southeast B.C. in 2009 Ian Smith, B.E. (Mining) Hons, F AusIMM, CP Mgmt Director - over 40 years of experience in the development of large scale open pit copper mines on an international basis -projects included Red Chris (B.C.) Bougainville (PNG) and La Caridad (Mexico) Dan MacInnis, P. Geo Director - President of MAG Silver (Amex: MVG) - managed and directed multi-million dollar exploration programs for Noranda Exploration, Battle Mountain Gold/Hemlo Gold, and Sargold Resources. - Discoveries include gold and base metal deposits in the US, Canada and Mexico. 5

6 Exploration Highlights Soil sampling and drilling by MAX at Majuba Hill indicate that: High-grade near surface copper and silver oxide mineralization exists well beyond the immediate area of the past producing Majuba Hill mine. High grade Ag/Cu oxide mineralization extends at least 500 m to the SE from Majuba Hill mine - Hole MM-17 (500 m to SE) m of 16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of 51 g/t Ag - Hole MM-21 (250 m to SE) g/t Ag and 0.13% Cu within 12 m of surface. High grade oxide Ag/Cu mineralization extends to a depth of at least 350 m from surface - Historic drill data (Minefinders 1975) includes m 9.23 g/t Ag and 0.22 % Cu starting at down hole depth of 220 m Drilling intercepts high-grade copper and silver near surface. Hole MM-07: 50.3 m of 50.8 g/t Ag, 0.31 g/t gold and 0.31% Cu Hole MM-06: 96 m of 39.2 g/t Ag and 0.57% Cu - inclusive of 44.2 m of 71.0 g/t Ag, 0.15 g/t Au and 1.14% Cu Hole MM-03: 42.7 m of 37.5 g/t Ag and 0.38% Cu Hole MM-18: The DeSoto discovery hole 1.4 km to the NW of Majuba mine intercepts 29.2 m of 30.5 g/t Ag and 0.69% Cu significant mineralization for future follow-up. 6

7 Project Location and Infrastructure 2,568 acres comprised of patented and unpatented claims and private mineral rights Majuba Hill- Copper/Silver/Gold high grade Cu/Ag oxide mineralization low cost heap leach processing Large scale bulk tonnage open pit potential Only 23 miles off of Interstate 80 in active mining district on well maintained dirt road Close to rail, highway, power and skilled work force 35 miles north of Coeur d Alene s (TSX.CDE) flagship Rochester Silver Mine (NI M&I resource of oz/t Ag and oz/t Au) 7

8 Majuba Hill Project Area Majuba Project Boundary Majuba Mountain Majuba Placers Patented Claim Boundary - 2,568 acres that include patented claims encompassing historic Majuba Hill mine 8

9 Majuba Hill Mining and Exploration History 1907 Copper and Tin (Cassiterite) Discovered Mason Valley Copper - 3 Tunnels at Copper Stop - Upper, Middle, and Lower Adit - Produces 4,000 tons of 12% Cu Greenan-Kerr Produces 23,000 tons of 4% Cu from Copper Stope Adit MineFinders drills for Climax-Type Mo Porphyry - Drilling confirms extensive Cu and Ag mineralization Minterra Resource Corp. tests leachable copper oxide target - Completes 2,600 m of reverse-circulation drilling - High grade intercepts at Copper Stope include oz/t Ag and 0.49% Cu, inclusive of oz/t Ag. - Minterra delisted in 2008 and lets property lapse MAX Resource Corp. enters into agreement to earn 75% interest in Majuba Hill Completes 1,800 m of core drilling with assay results up to 50% higher than Minterra s due to improved recovery with core drilling as compared to reverse-circulation. High grade Cu and Ag mineralization intercepted near surface over long intervals (96 m) Soil geochemistry completed on unexplored western area of property that identifies significant Cu (to 1.53%) and Ag (to 209 g/t) in soils over 2 km x 1 Km area at DeSoto Discovery hole (MM-18) at DeSoto intercepts 29.2 m of 30.5 g/t Ag and 0.69% Cu 9

10 Majuba Hill Mining Lease and Option to Purchase Agreement Mining Lease and Option to Purchase Agreement with Claremont Nevada Mines, LLC and JR Exploration LLC dated December 3, 2012 whereby MAX can acquire a 100% interest in Majuba Hill for $1 Million, payable as follows: $200,000 on closing (paid) $200,000 on December 3, 2013; $200,000 on December 3, 2014; $200,000 on December 3, 2015; and $200,000 on December 3, The Majuba Hill property will be subject to a 1% NSR. There are no work commitments or other ongoing obligations. 10

11 MM-2: % Cu/ 15.4 g/t Ag (68.6 to m) Incl: % Cu/ 39.3 g/t Ag MM-6: % Cu/ 39.2 g/t Ag (1.5 to 97.5 m) Incl: % Cu/ 0.15 g/t Ag/71.0 g/t Ag MM-3: % Cu/ 37.5 g/t Ag (91.5 to m) Incl: % Cu/ 90.2 g/t Ag MM-7: % Cu/ 50.8 g/t Ag (76.2 to m) Incl: % Cu/ g/t Ag MM-5: % Cu/ 16.5 g/t Ag (0 to 89.3 m) Incl: % Cu/ 30.0 g/t Ag Surface Projection of underground workings at Majuba Mine MM-21: 332 m of 12 g/t Ag and 0.13% Cu MM-20: 293 m of 5.49 g/t Ag, 0.10 g/t Au and 0.09% Cu in Porphyry-style alteration zone with significant sulfides. Majuba Hill -Majuba Mine Site looking NW 11

12 Majuba Hill Copper Oxides at Copper Stope Hole MM g/t Ag and 3% Cu over 5 feet 12

13 Majuba Hill Drill Results 2011 and 2012 Hole Azimuth Angle Total Depth From (m) To (m) Interval (m) Cu Au (g/t) Ag (g/t) Ag Eq (Oz/t) MM-02 Includes % 0.54% oz/t 2.6 oz/t MM-03 Includes % 0.93% oz/t 5.2 oz/t MM-05 Includes % 0.47% oz/t 2.2 oz/t MM-06 Includes % 1.14% oz/t 5.2 oz/t MM-07 Includes % 0.53% oz/t 4.1 oz/t MM-17 Includes Includes oz/t 0.6 oz/t 1.6 oz/t MM % oz/t MM % 0.32% oz/t 1.37 oz/t MM-20 Includes % 0.32% Note: Silver equivalency (Ag Eq. Ounces) includes silver and copper and excludes gold values and is calculated based on 5 year historic metal price trends of US$24/oz silver and US$3/lb copper. Metallurgical recovery of 100% is assumed. 13

14 Majuba Hill Sulphide Mineralization Hole MM-20 This first deep hole at Majuba Hill intercepts 293 m of 5.49 g/t Ag, 0.10 g/t Au and 0.09% Cu in sulfide mineralization in a porphyry-style alteration zone discovered below the high grade Ag/Cu/Au oxide zone at the Majuba Mine Hole MM-20 contains Chalcopyrite, Pyrite and Molybdenite in a hydrothermally altered mineralized zone indicative of the primary zone of a porphyry system. Gold mineralization grading g/t Au was intercepted over the final 116 m of Hole MM-20, which was still in mineralization when terminated at the planned target depth of 323 m due to weather conditions. Gold, copper and molybdenum mineralization was all increasing in grade with depth the mineralized system remains open at depth and in all directions 14

15 Majuba Hill Hole MM-21 MM-21 intercepted g/t Ag and % Cu within an overall mineralized intercept of g/t Ag and 0.13% Cu (23.9 g/t silver equivalent ( AgEq )) in oxides that began within 12 m of surface. Hole MM-21 confirms that a ridge of high-grade oxide mineralization extends a further 500 m to the southeast from the Majuba mine to the Ball Park target, where hole MM-17 intercepted 42.7 m of 16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of 51.0 g/t Ag, and is all one mineralized zone, the Majuba Ridge. The drill results from MM-21 and MM-17, combined with historic data from Minefinders (Hole MF-1: g/t Ag and 0.221% Cu from 220 m down hole), expands the known mineralized silver/copper zone for 500 m to the SE of the Majuba Mine and to a depth of at least 350 m. Permitting is underway for a 20 hole development drill program at Majuba Ridge designed to establish an initial NI compliant inferred resource estimate by the end of Preliminary metallurgical testing achieved leach recoveries of 84.6% for Cu (Sulphuric acid - 14 days) and 73.4% for Ag (thiosulphate - 24 hrs) Metallurgic testing is ongoing to determine optimum copper and silver recovery through different heap leach methodologies and processing technologies, including SX-EW for copper extraction. 15

16 Majuba Hill Drill Holes Location 16

17 Majuba Hill Silver Soil Geochemistry 17

18 Majuba Hill Copper Soil Geochemistry 18

19 Majuba Hill Drilling x 1 km Soil anomaly June ,110 m (8 hole) core drill program: High grade intercepts over long intervals at Copper Stope (96 m of 39.2 g/t Ag and 0.57% Cu in hole MM-6) Nov 2011 four holes totalling 674 m: MM-17 extends high grade silver zone 750 m to SE MM-18 intercepts 29.2 mo of 30.5 g/t Ag and 0.69% Cu 1 x 0.75 km target area Majuba Hill Drilling

20 Majuba Hill Exploration x 1 km Soil anomaly Oct 2012 Seven holes (521 m) test extent of mineralization at De Soto Sept 2012 Hole MM-21 (351 m) extends mineralized zone from Copper Stope to Ball Park along Majuba Ridge 1 x 0.75 km target area Majuba Hill Drilling

21 Majuba Hill Exploration and Development 2013 and Beyond Objectives for 2013: Drilling for inferred resource estimate at Majuba Ridge (size and grade) Preliminary Economic Assessment (internal) Identify and test additional targets to NE to expand resource potential beyond initial 100 MMT target 21

22 Additional Exploration Projects 2013 East Manhattan Wash, Nevada (100%) 78 claims (1,560 acres) in Manhattan Mining District, Nye County, located 8 miles south of Kinross/Barrick Round Mountain Mine (+ 12 MM oz ounces of gold produced) Recovered 4.9 g/t gold and 1.2 g/t silver from 793 lb bulk sample in Assays from 163 soil samples taken in 2010 produced values to 1.27 g/t gold. Permit applications have been filed for an extensive drill program to determine the overall depth and grade of the mineralization. Diamond Peak, Nevada (100%) 58 claims located at the south end of the Carlin Trend, 32 miles north of Eureka and the Archimedes gold deposit (Barrick) Exploration by MK Gold in 1999 encountered: 106 g/t silver in outcrop (3.09 oz/t) which was never followed up 11.6 % of Zinc over 1.5 meters within 20 meters of surface geochemical grids in 2011 confirmed high silver zone in the south extends to the east, with soil assays of up to 5.8 g/t Ag and an outcrop sample of 53.5 g/t Ag Permitted for drilling of new gold, silver and zinc targets identified by sampling. 22

23 Tel: 1 (866) info@maxresource.com TSX-V: MXR OTC BB: MXROF Frankfurt: M1D