MAXWELL RESOURCES INC. Engages Golder Associates as the Company's Engineering Firm
Will study Maxwell's Raton Basin holdings and provide Maxwell with 43-101 Reserve Report
FOR IMMEDIATE RELEASE
November 7, 2012 - RATON, NEW MEXICO - Maxwell Resources, Inc. (www.MaxwellRe.com) has engaged the services of engineering/environmental consulting firm Golder Associates to study the 170,000 acres in the Raton Basin to which Maxwell owns mineral rights (fee simple) and then provide a 43-101 reserve report.
Maxwell is exploring the Raton Basin based upon a 1991 USGS survey authored by USGS geologist, the late Charles "Chuck" Pillmore, which found that the Raton Basin may contain an abundance of high-grade metallurgical (coking) coal, an energy source that's essential to the manufacture of iron ore and steel.
In addition, a 2005 USGS survey of the same region found that even more high-grade coal could be under the Raton Basin than was previously estimated.
Maxwell possesses fee-simple mineral rights to 170,000 acres within the Raton Basin
Surveys also indicate the Basin may be a great source for gold, silver and other rare and valuable earth minerals.
"We hired Golder based on their size and capacity," said Phillip Dias, Maxwell's President and CEO. "They'll be able to do it all, from the proving up, to the permitting, to full drilling approvals. Plus, they're located in Denver and with the Basin just below the Colorado/New Mexico border, so their proximity was a selling point, as well."
Golder Associates (www.Golder.com) is an employee-owned, global consulting, design and construction services firm which specializes in the areas of earth, environment and related areas of energy. Golder is known world-wide as a company which provides innovative, quality solutions in areas including, but not limited to, geotechnical engineering, environmental compliance and remediation.
Its mining consulting services include mine permitting, environmental baseline studies, social impact assessments, and archeology; surface and underground mine design, geostatistics, block modeling, grade control, pit slope design, ground control, backfill design, and ventilation; hydrogeology, geochemistry and water management; tailings and slurry pipeline engineering; and much more.
Golder will research the Raton Basin based upon the USGS studies as well as others performed by Maxwell's geologists, Jay Leaver and Roy Pillmore. Its research and reports will take place in three phases:
Phase 1, which Dias expects will be completed in March 2013, will study the Basin to pinpoint the locations that will provide the best return on investment. This part of Golder's work also will entail looking at the big picture: transportation/access issues (if any), how large the best mineral/coal fields might be (and how extractable they are), permitting issues, the market price of coal, gold, silver, etc.
Phase 2 will begin in spring 2013, when Golder will oversee drilling at certain spots in order to analyze coal samples to ascertain the quality and quantity of coal. Management believes this phase should be complete by about September 2013.
Phase 3 will be the compilation of the 43-101 report that Golder will provide to Maxwell. Stringent parameters within the 43-101 must be met before Maxwell can call the coal and/or mineral deposits within its fee-simple ownership as reserves. Designating the deposits Maxwell's control as reserves confirms that its holdings are mineable, according to Dias.
Phase 3 should be complete by December 2013 or January 2014, Dias said.
About Maxwell Resources
Maxwell Resources, Inc. (Symbol: MAXE) owns mineral rights (fee simple) for more than 170,000 acres in the Raton Basin in northern New Mexico's Colfax County. The company will prove up gold, coal, hard minerals, and other rare earth minerals, with the goal of pinpointing the sites that will deliver the largest return on investment.
Statements made in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expect," "believe," "intend," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated. Potential risks and uncertainties include among others, our inability to raise additional capital, planned exploration or maintain property rights; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for planned production, exploration and other activities, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity price. Additional information on these and other factors, including Risk Factors, which could affect the Company's results, is included in its Securities and Exchange Commission ("SEC") filings. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
For more information on investing, visit www.MaxwellRe.com or e-mail Dias at 702-706-5576. E-mail is firstname.lastname@example.org.
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Source: Maxwell Resources Inc. via Thomson Reuters ONE