Vancouver, British Columbia--(Newsfile Corp. - April 2, 2020) - MAX RESOURCE CORP. (TSXV: MXR) (OTC PINK: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report that the Company has extended the AM-1 copper + silver stratabound horizon to 2,400-metres of strike. In addition, a new discovery named AM-2 extends for 1,000-metres. Both are within the AM South portion of the CESAR project located within the Rancheria Basin of NE Colombia (Refer to Figure 2).
Highlights (See figure below):
- Rock chip assays of 3.5% copper + 26 g/t over 10m x 2m panel (sample 303) - mineralization consisted of malachite, azurite and chalcocite hosted in siltstone;
- The new western 1,000m extension of AM-1 is being confirmed by infill sampling - the zone remains open on strike and dip;
- Newly discovered AM-2 copper zone extends for 1,000m; open on strike and dip - assays are pending;
- AM-2 lies parallel and 500m south of AM-1 strongly suggesting stacked horizons;
- In addition, exploration results are pending for AM North, located 40-km NNE along trend from AM South.
The AM South and AM North structures appear to be large sub-horizontal sheets, partly outcropping. Max is rock chip sampling along creeks cutting the mineralized structures to confirm continuity, size, and establish down dip grades.
"Ongoing exploration continues to build confidence in CESAR as a significant discovery of regional scale," Max CEO, Brett Matich, commented. "The Company is working towards a 3D model to assess the potential size of the CESAR copper-silver project," Mr. Matich continued.
To view an enhanced version of Figure 1, please visit:
To view an enhanced version of Figure 2, please visit:
The rock chip samples are 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 Copper + Silver Project
- The wholly-owned CESAR Project is located in north east Colombia within Jurassic sediments and volcaniclastics that extend the length of northern South America. These Jurassic rocks also host significant stratabound copper + silver mineralization in both Ecuador and Peru. CESAR lies along a historic 120-km copper-belt within a major oil-gas and coal mining district. The region has excellent infrastructure, shipping ports, airports, townships, railways and roadways.
Early success includes:
- the AM North discovery containing outstanding values of 24.8% copper + 230 g/t silver over a 4m by 1m rock chip panel; and 1,800-metres along strike, a zone of 10.4% copper + 88 g/t silver over 1m rock chip interval, open in all directions;
- the AM South discovery, located 40-km SSW along the same mineralized trend, with mineralized structures totaling over 5-km of strike, returned rock chip highlight values of 5.4% copper and 63 g/t silver from 0.1 to 25-metre intervals.
Max's exploration strategy is to unlock the potential of the CESAR district as an up and coming copper and silver region.
EBAY Palladium Platinum and Choco Platinum Gold Projects
EBAY Palladium Project (EBAY) is located 30-km SE of Matagami in the Abitibi Region of Quebec, Canada, and is underlain by the Archean Bell River Complex, a layered mafic intrusion measuring 65-km by 15-km and 5-km thick.
Highlight exploration between 2000 to 2008: 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 500m long zone in 2006; all consisting of blast pit grab sampling. 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 3.0m from 80.5m to 83.5m. Further drilling discovered a new zone comprising 600m of strike, 120m deep, 6.7m to 31.1m 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 (news release March 25, 2020). Max is planning an exploration and drilling program.
CHOCO Platinum Gold Project is located 120-km SW of Medellin Colombia, within a district with historical production of 1.0Mozs of platinum and 1.5Mozs of gold (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 (news release 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.
Max is a mineral exploration company with a successful management team, focused on advancing its copper, silver and precious metals landholdings in the rich mineral belts of Colombia, and it's EBAY Palladium landholdings in Quebec, Canada. Both have potential for the discovery of large-scale mineral deposits that can attract 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.com
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