Vancouver B.C., September 29, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report, in addition to its growing land position in Colombia, where the Company has established a first mover advantage at its “Kupferschiefer Style” CESAR copper-silver project, it has successfully executed an Option Agreement (“Agreement”) to acquire 100% interest in the RT Gold Property (“RT Gold”), consisting of two contiguous mineral concessions located 760-kilometres NW of Lima in the District of Tabaconas, Peru (refer to Figure 1). Maintaining the option will require yearly payments of US $300 thousand over four years and exercise of the option will require an additional US $3 million payment on or before the fifth anniversary.
RT Gold sits along the Condor mountain chain of northern Peru, within the Cajamarca Metallogenic belt. This geological belt is extending from Central Peru into Southern Ecuador, and hosts a number of world class gold deposits.
Two distinct mineralized systems occur within RT Gold: the Cerro, a bulk tonnage gold-bearing porphyry zone, and 3-kilometres to the NW, the Tablon, a gold-bearing massive sulfide zone.
The Cerro System hosts several known mineralized zones, including Peak, West, Breccia and Cathedral, consisting of:
The Tablon Zone is located 3-kilometres NW from Cerro and hosts numerous gold-bearing massive to semi-massive sulphide bodies over a 150-metre by 450-metre area, within a larger 1.0-kilometre by 1.5-kilometre area of anomalous gold soil and rock geochemistry (refer Figure 3). Highlight intersections from the 33 Tablon diamond drill holes completed in 2001 include:
Intervals are core lengths not true widths, which are unknown at this time. Source: NI43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, October 3, 2011.
The last field exploration on both the Cerro and Tablon zones was conducted over a decade ago. The Max technical team is currently reviewing and digitizing all available data for subsequent interpretation for target generation. A program of field verification by Max’s in-country team: mapping, surveying and sampling is scheduled to follow. Concurrent with the verification program, the Company will be initiating drill permitting.
“Max now has gold exposure in addition to copper and silver within Latin America. RT Gold represents a significant achievement for the Company, with exploration targets carrying significant widespread gold grades across two distinct mineralization styles within a prolific South American gold belt,” said Max CEO, Brett Matich.
“The Max senior management, along with its key financiers, want to assure their shareholders the Company remains fully committed to the CESAR copper-silver project. In fact, we are focusing on expanding our land position within this key copper-silver basin and our Colombian field team continues our aggressive exploration program. We are also expecting assay results from AM South followed by AM North shortly,” he continued.
Figure 1. RT Gold Project location.
Figure 2. Cerro Zone.
Figure 3. Tablon Zone.
CESAR Copper-Silver Project Overview
The wholly-owned CESAR project in north east Colombia lies along a 120-kilometre sediment-hosted copper-silver belt, that resembles the Kupferschiefer in Poland. The CESAR region enjoys major infrastructure. Mining operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American (Figure 4).
Figure 4. Location of the CESAR project
Important highlights and exploration activity on multiple fronts:
About Max Resource Corp.
With its successful exploration and management team, Max Resource Corp. is advancing its stratabound Kupferschiefer type CESAR copper-silver project in Colombia and its newly acquired RT Gold project in Peru. Both have 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/
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Max Resource Corp.
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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