MAX has 100% ownership of 82 and 50% ownership of 7 mineral license applications totaling over 1,757 square kilometres, located within Chocó Department approximately 100km SW of the city of Medellin, Colombia. Compania Minera del Choco Pacifico produced 1.5 million ounces of gold and 1.0 million ounces of platinum from the "Choco District" between 1906 to 1990, largely limited to an average depth of 8 meters or less.
A previous 2013 program at El Tambita by ASX listed Condoto Platinum Ltd. lead to the discovery of a 9.8m wide gold-bearing shear zone, the first documented shear-hosted bedrock gold in Choco. Highlights from historic exploration work include:
As shown in the above Exploration Strategy Schematic, the Company is working on an exploration model where the gold bearing conglomerates have formed at the base of the western slopes of the mountains to the east. The Company considers systematic bulk sampling at surface to be the most practical means of determining grade, processing characteristics and the lateral extent of the flat-lying gold bearing mineralized system. Sampling exposed faces of outcrops will provide initial assessment of thickness, depth and vertical continuity of the gold through the system.
The Max technical team continues to review and interpret the 2011 through 2014 Condoto Platinum Ltd. exploration data consisting of rock sampling, stream sediment sampling and panned concentrate sampling. New gold targets continue to be identified. In addition, the team are currently reviewing the recently completed Long Wave InfraRed survey completed over the entire South Choco land package.
The on-going exploration in the central part of the mineralized area indicates a vertical thickness of 12metres. Samples were taken down the face of the outcrop to determine gold distribution vertically through the conglomerate. Analytical results are pending.
1 - Max cautions investors that results from adjacent and nearby properties are not necessarily representative of the mineralization hosted at North Choco.
2 - Sources: The historic production figures from R.J.Fletcher & Associates (2011) Review of Gold and Platinum Exploration and production in Choco Province, Colombia. Part 3. Private Report for Condoto Platinum Ltd.; the hard rock sampling data are from the historic exploration files of Condoto Platinum Ltd. Max cautions investors it has yet to verify the historic exploration data. Historic exploration data comes from 2013 exploration program undertaken by ASX listed Condoto Platinum Ltd. disclosed in its 09-11-2013 news release.