2012-12-04 10:26:56 -
Maxwell's Geologists' Research Indicates Potential of High-Grade Coking Coal
in their Dawson Parcel in New Mexico's Colfax County
FOR IMMEDIATE RELEASE
December 3, 2012 - RATON, NEW MEXICO - After considerable study and gathering of
technical data by its geologists, Maxwell Resources, Inc. (www.MaxwellRe.com)
has found that one of the parcels it controls (fee-simple ownership) good
potential of coking coal within it.
The parcel is known on USGS surveys of the Raton Basin in northern New Mexico
as Dawson-Koehler. (Maxwell refers to the parcel - one of its primary assets -
as Dawson East.) The parcel is located between the highly productive and
historic Dawson and Koehler mines.
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.
A 2005 USGS survey of the same area also found that even more high-grade coal
could be under the Basin than the 1991 survey estimate.
Maxwell possesses fee-simple mineral rights to coking coal and gold within the
Raton Basin. The Dawson East parcel lies in Colfax County.
"Our geologists are now presenting their desktop study of their findings to our
engineering firm, Golder Associates," said Philip Dias, Maxwell's president and
CEO. "Golder then will evaluate their findings and create an exploration plan
that includes a core drilling program. We anticipate that we'll start drilling
in spring 2013."
The mines in Colfax County produced high-grade coking coal for more than 40
years, producing an estimated 72.6 million tons, according to the U.S Bureau of
Mines Minerals Yearbooks, State Mine Inspectors reports, with the mines at
Dawson producing about half of the total.
Surveys also indicate the Basin may be a great source for gold, silver and other
rare and valuable earth minerals.
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, 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,"
"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 email@example.com
Maxwell Resources, Inc. Contact:
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Source: Maxwell Resources Inc. via Thomson Reuters ONE