Vancouver B.C., June 23, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to announce the Ventana Zone, a new stratabound copper-silver discovery at AM North, extends over 11-km north to the Herradura Zone. The newly discovered Ventana Zone lies within Max’s wholly owned CESAR sediment-hosted copper-silver project, located 420-km north of Bogota, Colombia
The Ventana Discovery Highlights
“Extending the AM North stratabound copper-silver zone to over 11-kilometres is a major step towards demonstrating the potential of the CESAR district as a significant copper and silver regional basin. Our field teams continue to make new discoveries, building on and confirming the Kupferschiefer-style geological model for CESAR. We look forward to releasing further exploration results as ALS Mineral Assay Labs clears the backlog resulting from COVID-19,” said Brett Matich, CEO of Max.
Fig 1. CESAR target zone location
Fig 2. AM NORTH, Ventana & Herradura Zones, assays pending locations
Fig 3. “Ventana Zone” outcrop 425646 – 345° Azimuth - 64°NE Dip
|Sampling||Lithology||Sampling Type||Metres||Mineralization||Copper (%)||Silver (g/t)|
|425646||Sst||Composite grab||2||Mal, Az, Cho, Cpr, Nat.Cu||2.7||4|
|425624||Sst||Composite grab||2||Mal, Az, Cho, Cpr, Nat.Cu||1.02||3.7|
|425625||Sst||Composite grab||2||Mal, Az, Cho, Cpr, Nat.Cu||0.64||3|
The composite grab samples were shipped to the ALS Lab sample preparation facility in Medellin, Colombia. Sample pulps are sent to Lima, Peru for analysis. All samples are analyzed using ALS procedure ME-MS41, a four-acid digestion with ICP finish. Over limit copper and silver are 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.
CESAR Sediment-Hosted Copper-Silver Project - Overview
The wholly-owned CESAR project in north east Colombia lies along a 120-km sediment-hosted copper-silver belt, that resembles Kupferschiefer in Poland. KGHM’s Kupferschiefer is Europe’s largest copper mine, in 2018 producing 30.3Mt of ore grading 1.49% copper and 48.6 g/t silver from a mineralized zone that averages 0.4 to 5.5-metre thickness. In addition, it is the world’s leading silver producer, providing 40.2Mozs in 2019, almost twice the production of the world’s second largest silver mine, according to the World Silver Survey 2020.
The CESAR region has major infrastructure. Mining operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American.
Important highlights for the CESAR Project:
The exploration strategy is to demonstrate the potential of the CESAR district as a significant copper and silver regional basin.
EBAY Palladium-Platinum Project - Summary
The EBAY palladium-platinum project, located 30-km SE of Matagami in the Abitibi Region of Quebec, Canada, is underlain by the Archean Bell River Complex, a layered mafic intrusion measuring 65-km by 15-km and 5-km thick. Max has entered into an Option Agreement pursuant to which the Company may acquire a 100% interest of EBAY (May 12, 2020).
Highlight exploration of ballast pit sampling between 2000 to 2008 returned: 4.9 g/t palladium-platinum from a 4 to 5-metre wide zone; 3 g/t palladium+1.4 g/t platinum+0.12 rhodium in 2005; 2.5 g/t palladium-platinum from a newly discovered 500-metre long zone in 2006. The Company cautions investors that grab samples are selected samples and are not necessarily representative of mineralization.
EBAY drilling in 2006 intersected 1.90 g/t palladium-platinum over 3-metres from 80.5 to 83.5-metres. Further drilling discovered a new zone comprising 600-metres of strike, 120-metres deep, 6.7 to 31.1-metres wide, open in all directions, with highlight values of 2.52 g/t palladium-platinum. Subsequent aero-magnetic survey extended the target zone to 4.8-km of strike (March 25, 2020).
Choco Platinum Gold Project - Summary
CHOCO gold-platinum project (250 sq.km) is located 120-km SW of Medellin Colombia, within a district with historical production of 1.5Mozs of gold and 1.0Mozs of platinum (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 and 341 g/t gold (April 16, 2019). 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.
About Max Resource Corp.
With its successful exploration and management team, Max Resource Corp. is advancing both its copper, silver and precious metals landholdings in Colombia, and its EBAY palladium-platinum landholdings in Quebec, Canada. Each of these belts has potential for the discovery of large-scale mineral deposits attractive to 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.
T: (604) 290-8100
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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.comBack to Past News