Exploring Two Tier One Projects in South America
Max Resource Corp. (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is a mineral exploration company advancing the Mora Gold-Silver Project and Sierra Azul Copper-Silver Project in Colombia.
Corporate PresentationColombia
Mora Gold-Silver
The undrilled 713-hectare Mora Gold-Silver Project lies within the prolific Middle Cauca Gold Belt adjacent to Aris Mining’s (TSX: ARIS) (NYSE: AIMN) Marmato Mine (Reserve: 31.3 Mt @ 3.2 g/t Au, Resource: 61.5Mt @ 3.0 g/t Au, 9Moz*) in Colombia. The project covers 40 historic workings and 5 active mines, as well as a series of polymetallic structures spanning 2,500m by 1,000m. The concession is directly adjacent to Aris Mining’s Marmato Gold Mine and Collective Mining’s Guayabales Project, including the Apollo Porphyry discovery.
Aris Mining’s Marmato title abuts along 3.4km of Mora’s eastern boundary, and Collective Mining’s (TSX: CNL) (NYSE: CNL) Guayabales Project abuts to the north (Apollo Porphyry System), west, south, and vertical east boundaries, 4.8 km in length.
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Highlights from channel sampling at Mora include:
- 45.0g/t gold & 7,110g/t silver over 1m; 32.0g/t gold & 53g/t silver over 1m
- 27.0g/t gold & 732g/t silver over 1m; 8.9g/t gold & 75g/t silver over 1.5m
- 36.7 g/t gold over 2m; 3.3 g/t gold & 87 g/t silver over 1m
Colombia
Sierra Azul Copper-Silver
The Sierra Azul Project sits along the Colombian portion of the world’s largest producing copper belt (Andean belt), with world-class infrastructure and the presence of global majors (Glencore and Chevron). Max has an Earn-In Agreement (“EIA”) with Freeport-McMoRan Exploration Corporation (“Freeport”), a wholly owned affiliate of Freeport-McMoRan Inc. (“NYSE: FCX”) relating to the Sierra Azul Project. Under the terms of the EIA, Freeport has been granted a two-stage option to acquire up to an 80% ownership interest in the Sierra Azul Project by funding cumulative expenditures of C$50 million and making cash payments to Max of C$1.55 million. Max is the operator of the initial stage. The USD $4.2 million 2024 exploration program for the Sierra Azul Project is funded by Freeport.
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On May 30, 2024, the Company received exchange approval for an earn-in agreement with Freeport-McMoRan Inc. for a two-stage option to acquire up to an 80% ownership interest in the project by funding cumulative expenditures of C$50 million and making cash payments to Max of C$1.55 million. 2024 exploration at Sierra Azul is fully funded by Freeport-McMoRan Inc. and includes:
- Geophysical, mapping and geochemistry to identify multiple drill targets and build the model of the 200 x 20-km Cesar Copper-Silver basin
- Analyzing 10,000-line-km high-resolution magnetic / radiometric survey
- 28 priority targets identified to date