Exploring Critical Metals in South America
About Max Resource
Max Resource Corp. (TSXV: MAX) is a mineral exploration company exploring the world’s next sediment-hosted copper district in Colombia and DSO iron ore within the Iron Quadrangle in Brazil, hosting some of the largest DSO mines in the world.
“The Florália Hematite Iron Ore open pit reveals sizable, sub-horizonal plunging bands of hematite iron ore which appear to extend in all directions. Upon successful exploration and development, with iron ore buyers situated within 20-km, Florália would have a significant transportation cost advantage, as bulk tonnage haulage to a shipping port would not be required. Our Brazilian exploration team has commenced the 2024 program, starting with a drone magnetic survey, channel sampling of roads cutting through the mineralization, and subsequent auger and diamond drilling. I look forward to updating shareholders in the coming weeks.”
- Brett Matich, MAX CEO & President
Colombia
Sierra Azul Copper-Silver
The Sierra Azul (formerly Cesar) copper-silver project consists of 20 mining concessions spanning over 188 km2 and comprises three continuous districts spanning 120-km NNE/SSW. Colombia’s Cesar basin lies along the northern portion of the Andean copper belt, the world's largest producing copper belt. This region provides access to major infrastructure resulting from oil & gas and mining operations, including Cerrejón, the largest coal mine in South America, held by global miner Glencore. Max is exploring the world's next sedimentary-hosted copper district along a 120-km copper-silver target zone, where three significant discoveries zones have been made: AM, Conejo and URU.
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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
Brazil
Florália Hematite Iron Ore
Subject to Exchange approval, the wholly owned Florália Hematite Iron Ore Project is located within 20km of 7 iron ore mines (VALE, ArcelorMittal) and 7 steel mill purchasers, rail networks, in Minas Gerais, Brazil’s largest iron ore producing state. In 2020, the Florália hematite ore body was discovered while open cut mining gravel for road base. The Florália Open Cut is of significant size; 5 mining benches (48m high), 160m across and 120m north to south; revealing a sub horizontal plunging band of high-grade ore. In 2023 gold miner Jaguar Mining (TSX: JAG) conducted an exploration program, consisting of mapping and 41 channel samples collected over a 151m accumulated length. Using a density of 2.71 g/cm3 resulted in definition of an estimated geological target of: 2,971,233 to 4,496,333 m3 or 8,052,041 to 12,184,160t at average of 58% Fe.*
Florália DSO Property Technical Report
*Max cautions investors the potential quantity and grade of the iron ore is conceptual in nature, and further cautions there has been insufficient exploration to define a mineral resource and Max is uncertain if further exploration will result in the target being delineated as a mineral resource. The source of the exploration information on the Florália Property is “Depósito Florália Oportunidade para minerrio de ferro by Jaguar Mining Inc.” The document is undated.