Free GOLD Identified IN First Five Conglomerate Bulk Tests
FREE GOLD IDENTIFIED IN FIRST FIVE CONGLOMERATE BULK TESTS
Vancouver B.C., January 30, 2019 – MAX RESOURCE CORP. (“MAX” or the “Company”) (TSX.V: MXR;
OTC: MAXROF; Frankfurt: M1D 1) is pleased to announce test sample results from five conglomerate
trial pits, located within the Company’s “ Choco Precious Metals Project ”, 100km SW of Medellin,
Colombia.
Map can be viewed at: http://maxresource.com/resources/MXR_Choco_Map_2019Jan30.pdf
Highlights
• Free gold was observed in the test sample concentrates from each of the five hard rock
conglomerate trial pits;
• The objective was to process approximately 40kg of the 2,500kg of conglomerate collected
from each of the 2m by 2m by 30 cm deep pits to gravity test for signs of free gold;
• The initial test results suggest potential gold continuity throughout a surface area of
approximately 8 square kilometers; open in all directions;
• Identification of a conglomerate outcrop 1.5km south of Pit 5 indicates a vertical thickness of
12m; test samples are currently being processed;
• The Company is develop ing a processing system to analyze the gold content of the 2,500kg of
bulk sample collected from each of the five pits; additional samples are currently being
processed; and
• The on-going conglomerate test pit program continues to branch out further and further with
the objective of increasing the lateral extent of the gold mineralization.
The exploration strategy is to determine the full lateral extent and gold content of the underlying hard
rock conglomerate hosted go ld deposits throughout the Company’s 89 mineral license applications
totaling 1,757 square kilometres in Western Colombia.
Brett Matich, Max’s President and CEO commented: “Our initial exploration results support the historic
reports of free gold contained within the underlying hard rock conglomerates which are potentially the
source of the 1.5Mozs of gold and 1.0Mozs of platinum produced during historic surface mining.”
(Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco
Province Colombia Part 3. Private Report for Condoto Platinum Ltd)
Plate 1. -2mm Concentrates with Free Gold
Table 1. Hard Rock Conglomerate Bulk Sample Detail
Sample weight (kg) -2mm (kg) Concentrate -2mm (g)
Pit 1 0714 48.38 37.4 838
Pit 2 0718 32.5 28.3 265.08
Pit 3 0716 27.18 24.05 287.57
Pit 4 0713 52.61 45.4 962
Pit 5 0715 45.7 39.7 60
Table key: weight (kg) is the dry weight in kilograms of the conglomerate sample prior to processing; -2mm (kg) is the weight in kilograms of
the -2mm fraction of the full sample after crushing and sieving; concentrate -2mm (g) is the weight in grams of the concentrate produced from
the -2mm fraction of the full sample.
Exploration Program
The Company considers systematic bulk sampling at surface to be the most practical means of
determining grade, processing characteristics and the lateral extent of the mineralization. Sampling the
exposed face of outcrops will provide initial assessment of thickness , depth and gold content of this flat
lying mineralized system.
The six 2m by 2m by 30cm deep test pit s are excavated from surface by pneumatic hammer. A
measured specific gravity of 2.2 indicates approximately 2,500kg to 3,000kg of hard rock conglomerate
is collected from each pit.
The on -going exploration recently identified a 12m thick conglomerate outcrop approximately 1.5km
south of the most southern test pit. Samples were taken down the face of the outcrop to determine
gold distribution vertically through the conglomerate. Analytical results are pending.
Choco Precious Metals Project
MAX has 100% ownership of 82 and 50% of 7 mineral license applications, totaling over 1,757 square
kilometres, located within Choco Department approximately 100km SW of the city of Medellin,
Colombia.
Compania Minera del Choco Pacifico (“Choco Pacific”) produced 1.5 million ounces of surface gold and
1.0 million ounces of surface platinum from the “ Choco District” between 1906 to 1990, largely limited
to an average depth of 8 meters or less.
MAX’s Choco Precious Metals Project (“Choco Project”) covers or is adjacent to much of Choco Pacific’s
historic exploration and production areas. Choco Pacific historic reports indicate the hard rock
conglomerates underlying the surface production areas are gold -bearing, extensive, shallow and
generally flat lying with thicknesses from a few metres to 20 metres. (Source: R.J. Fletcher and
Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia
Part 3. Private Report for Condoto Platinum Ltd)
MAX cautions investors it has yet to verify the historic information.
Sampling and Assay Methodology
Sampling integrity is essential. The conglomerate (hard rock) surface is cleaned and a 2m by 2m square
is marked. A pneumatic hammer then chips and breaks the conglomerate outcrop to a dept h of 30cm.
The broken conglomerate is collected in pre-numbered rice bags; approximately 25kg per bag. Each pre-
numbered bag is sealed by the geologist and transported to secure, locked storage at the Novita Camp,
in Choco. Two bags per pit are then transported by Company personnel to the town of Istmina, where is
the bags are transported to Medellin for processing.
Each approximate 50kg sample is first crushed to 2 millimetres (2mm). The - 2mm and +2mm fractions
are separated by sieving with each fraction subsequently pulverized . The - 2mm fractions are
concentrated by gravity pan and visually examined for free gold by MAX technical personnel. There has
been no analysis conducted on the +2mm fraction.
Noble Transaction
As previously announced (see Max press release January 28, 2019), Max continues to pursue the
acquisition of mineral rights and concessions in and around the Novita Project from Condoto Platinum
Ltd., a wholly -owned subsidiary of Noble Metals Limited. Because Max proposes to issue 26,665,896
common shares to Noble Metals on the closing of this transaction (constituting approximately 32.7% of
the issued and outstanding shares of Max after adjustin g for the transaction), the transaction would
constitute Noble Metals as a new ‘control person’ of Max and requires both TSX Venture and
shareholder approval. Max has been working with TSX Venture in an effort to obtain conditional
approval while simultan eously adjusting the transaction structure to remediate concerns developed
over the course of its due diligence. Max anticipates that it should be in a position to request
shareholder approval in the near future. The transaction remains subject to TSX Venture approval.
About Max Resource Corp.
Max Resource Corp.’s focus is to explore and consolidate gold and platinum group mineral assets in the
richly endowed Choco mineral district of Colombia and to explore the Gachala sedimentary copper
hosted mineral belt of Colombia.
ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.
“Brett Matich”
Brett Matich, CEO and President
Tim Henneberry, P. Geo (British Columbia), a member of the Max Resource Corp. Advisory Board, is the
qualified person who has reviewed and approved the technical content of this news release on behalf of
the Company.
For further information, please visit the Company’s website at www.maxresource.com or the Company’s
profile at www.SEDAR.com
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Investor Relations
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This news release includes certain statements that may be deemed as “forward-looking statements” within the meaning of
applicable Canadian securities laws. All statements in this release, other than statements of historical facts, are forward-looking
statements, including, without limitation, statements pertaining to completion of the Transaction and any approvals required in
connection with the Acquisition. Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ
materially from those in the forward-looking statements include: changes in market conditions, unsuccessful exploration
results, changes in the price of commodities (particularly copper), unanticipated changes in key management personnel and
general social, economic or geo-political conditions. Mining exploration and development is an inherently risky
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