Max Resource Reports Values of 24.8% Copper + 230 g/t Silver Over 4m by 1m Interval at the CESAR Project, Colombia
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2020) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report a high-grade outcrop discovery within AM North's flat-lying, stratabound copper + silver mineralized system. Assays from AMN-2 returned 24.8% copper + 230 g/t silver from a 4-metre by 1-metre rock chip panel. AMN-2 lies 1.8-km along strike from the AMN-1 discovery. The copper mineralization consisted of malachite, azurite, and chalcocite within the sandstone. Both discoveries at the CESAR copper + silver project, approximately 420-km north of Bogota, Colombia are open-ended and dip 20 degrees NW (refer to Figures 1, 2 and 3).
The CESAR mineralized zones appear to resemble a large sub-horizontal sheet, with the edges partly exposed. Max is using rock chip sampling on the extensive surface exposure to identify structures, confirm strike continuity and establish thickness, prior to drilling. The Company considers rock chip panel sampling to be representative across their reported widths. CESAR consists of two distinct areas:
AM North, located 40-km north of AM South, appears to share the same mineralized trend;
The stratabound copper + silver mineralization at both, AM North and AM South, are hosted in a bedded sandstone-siltstone similar to Kupferschiefer in Poland. Max cautions investors the copper + silver mineralization at Kupferschiefer is not necessarily indicative of similar mineralization at Cesar.
"We were pleasantly surprised that the AM North discovery was made in just a one-day field reconnaissance. Given the early stage success at both, AM North and AM South, we are confident in further exploration successes in 2020," Max CEO, Brett Matich, commented. "While the spectacular results reported today are noteworthy, we are working on the premise of an average target grade of plus 1.5% copper with associated silver. Our exploration success continues to support our belief that CESAR is a large-scale copper + silver mineralized system. Our field teams continue to expand the known mineralization," Mr. Matich continued.
To view an enhanced version of Figure 1, please visit:
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To view an enhanced version of Figure 2, please visit:
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To view an enhanced version of Figure 3, please visit:
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CESAR Copper + Silver Project
The wholly-owned CESAR Project is located in north east Colombia within Jurassic sediments and volcaniclastics that extend the length of northern South America and also host significant stratabound copper + silver mineralization found both in Ecuador and Peru.
CESAR lies along a historic 120-km copper-belt within a sedimentary basin, the district has extensive infrastructure, major oil-gas and coal operations, ports, townships, railways and roadways.
Considering the first pass exploration at CESAR commenced only in mid-November 2019, the Company has enjoyed considerable success. Max's exploration strategy is to unlock the potential of the CESAR district as an up and coming world class copper and silver producing region.
PGE Americas Metals Corp
Max recently established "PGE Americas Metals Corp." as a wholly-owned subsidiary, to hold its PGE Choco Project. This is the first step towards building a portfolio of PGE assets with a focus on palladium, platinum and rhodium. The intent is to unlock this value in a timely manner (refer to news release February 25, 2020).
The PGE Choco project is located 120-km SW of Medellin Colombia, within a district with historical platinum production of one million ounces (1906-1990) by Choco Pacific Mining. Compilation of historical records revealed the potential for related PGE's particularly palladium and rhodium. In addition, recent field work in 2019 by Max resulted in concentrate values of 114 g/t platinum (refer to news release April 16, 2019).
Colombia was the world's main source of platinum until 1820 and was world's largest producer between 1917 and 1923. Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condo to Platinum NL.
North Choco Gold and Copper Project
North Choco consists of wholly-owned mineral applications, located approximately 80-km SW of Medellin, Colombia. The NW Gold-Copper Discovery (refer to October29, 2019 news release) outcrop reported 1-metre of 49.8 g/t gold and 4.3% copper, continuing under cover in both directions. Future work will focus on mapping and sampling along strike to extend the zone and on locating additional parallel zones.
Quality Assurance
The rock chip samples were shipped to ALS Lab's sample preparation facility in Medellin, Columbia. Sample pulps are sent to Lima, Peru for analysis. All samples were analyzed using ALS procedure ME-MS41, a four-acid digestion with ICP finish. Over limit copper and silver were determined by ALS procedure OG-62, a four-acid digestion with an AAS finish. ALS Labs is independent from Max. Max is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.
About Max Resource Corp.
Max, a mineral exploration company with an experienced and successful management team, is focused on advancing its copper, silver and precious metals landholdings in the rich mineral belts of Colombia, with potential for the discovery of large-scale mineral deposits that can attract major partners.
Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, is the Qualified Person who has reviewed and approved the technical content of this news release on behalf of the Company.
For more information visit: https://www.maxresource.com/
For additional information contact:
Max Resource Corp.
Tim McNulty
E: info@maxresource.com
T: (604) 290-8100
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
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