Max Resource Discovers New Copper & Silver Target at CESAR
- MAX Resource Corp. discovers significant mineralized outcrop at its Cesar Copper-Silver Project in Colombia. 22 targets identified across three districts. Airborne survey underway. Positive outlook for potential drill testing and regional exploration.
- None.
Vancouver, British Columbia--(Newsfile Corp. - September 20, 2023) - MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report it has discovered another significant mineralized outcrop at its AM District, within its
"This new and exciting discovery reinforces Max's thesis that the Cesar Copper-Silver Project may host multiple stand-alone deposits. The Max field team has now identified 22 targets across three separate districts of the 90-km Cesar copper-silver belt: AM, Conejo and URU," commented VP Exploration, Bruce Counts.
"In addition, Max's 4,000-line-km high-resolution airborne magnetic and radiometric survey over the entire AM District is well underway. Survey results will be used to refine existing targets and identify new targets by mapping the lithologies and the geological structures that control mineralization," he concluded.
Figure 1: Images of Outcrop at Target AM-08 and rock specimen with primary copper minerals Chalcocite and Malachite
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3834/181229_maxresourcefigure109202023.jpg
Preliminary work on the new AM-08 outcrop has determined the copper-silver mineralization is hosted in a steeply dipping structure within a porphyritic rhyolite, a type of felsic volcanic rock, and that it is exposed across a width of 10m before disappearing under cover. Chalcocite and malachite are the most abundant copper minerals observed in the outcrop with minor amounts of chalcopyrite and covellite also present (refer to Figure 1).
Systematic channel sampling of the mineralized outcrop has now commenced, and crews have begun detailed mapping in the vicinity of the new discovery with the goal of extending the footprint of mineralization. Drone video of the AM-08 discovery can be viewed here.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3834/181229_b6fc2cf624f95af6_003full.jpg
Figure 2: Location of the AM-08 Discovery
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3834/181229_b6fc2cf624f95af6_004full.jpg
Background
The Cesar Copper Silver Project comprises of three districts: AM, Conejo and URU. Collectively the three contiguous districts stretch over 90-km in NNE/SSW direction (refer to Figure 3).
Figure 3: Location of the Cesar Copper Silver Project, NE Colombia
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3834/181229_maxresourcefigure309202023.jpg
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's twenty mining concessions collectively span over 188-km².
In 2022, Max executed a 2-year co-operation agreement with Endeavour Silver Corp. (TSX: EDR, NYSE: EXK), which assists to expand its
AM District
Starting in the far north of the Jurassic basin, classic stacked red bed outcrops with extensive lateral continuity have been rock sampled over many kilometres within the AM District. Highlight values of
Conejo District
Midway south, the Conejo District is the most recent to be recognized and is characterized by structurally controlled mineralization hosted in intermediate and felsic volcanic rocks. Numerous mineralized outcrops have been discovered over 3.7-km at the primary target in the district with surface samples averaging
URU District
Mineralization within the URU District is hosted in intermediate volcanic rocks and is structurally controlled, similar to deposits in the Central African Copper Belt. At URU-C, a 9.0m of
CESAR Target Evaluation
Max has identified and is evaluating 22 targets along the Cesar 90-km-long belt for potential drill testing. The Company is focused on expanding, refining, and prioritizing these targets in preparation for a drill program. Initial efforts have been concentrated on those targets with the greatest size potential with work that includes the following field activities:
- Systematic chip and channel sampling of the mineralized outcrops.
- Detailed geological and structural mapping of each showing.
- Target scale prospecting and soil sampling.
- Airborne Magnetic/Radiometric Surveys.
Regional Exploration
Max has demonstrated that the Cesar basin is fertile for copper-silver mineralization over a large area; however, only a fraction of the basin has been explored. As a result, Max has dedicated on of its geological teams to regional exploration with the goal of discovering additional copper-silver prospects over 1,000 sq-km.
Qualified Person
The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, PGeo (British Columbia), a member of the Max Resource advisory board, who serves as a qualified person under the definition of National Instrument 43-101.
About Max Resource Corp.
Max Resource Corp. (TSXV: MAX) is a mineral exploration company advancing the newly discovered district-scale Cesar copper-silver project. The wholly owned Cesar project sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world class infrastructure and the presence of global majors (Glencore and Chevron).
In addition, Max controls the RT Gold project (
Max is proactive, with the corporate goal of transitioning the Cesar basin towards the mining of copper, the key metal for Colombia's transition to clean energy. The safety of our people and the communities where we operate is most important. We conduct exploration in a manner which supports protection of ecosystems through responsible environmental stewardship.
Source: NI 43:101 Geological Report RT Gold Project for Max Resource Corp. by Luis Rodrigo Peralta, Mar. 8, 2023. NI 43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, Oct.3, 2011.
For more information visit: https://www.maxresource.com/
For additional information contact:
Tim McNulty E: info@maxresource.com T: (604) 290-8100
Rahim Lakha E. rahim@bluesailcapital.com
Brett Matich T: (604) 484 1230
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181229
