Max Resource Announces Shares for Debt Transaction
Max Resource Announces Shares for Debt Transaction
Vancouver B.C., November 18, 2019 – MAX RESOURCE CORP. ( “Max” or the
“Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D1) is pleased to report that the
Company has entered into Shares for Debt Settlement Agreements (the “Agreements”) to
issue a total of 2,9 25,000 common shares (the “Settlement Shares”) to consultants,
directors and officers of the Company at a deemed price of $0.10 per Settlement Share,
thereby extinguishing a total of $292,500 in liabilities.
The issuance of the Settlement Shares is subject to the receipt of approval of the TSX
Venture Exchange. The Settlement Shares issued pursuant to the Agreements will be
subject to a voluntary six-month hold period, which will commence on the date of issuance.
Cesar Copper-Silver Project
Cesar Copper-Silver is wholly owned and is located approximately 420 km north of Bogota,
within the northern Andean Copper Belt, which runs north and south along the west side of
South America and is the most prolific copper producing region in the world.
Historically, the Cesar project area has been explored from a local context, but never in a
broader picture. First pass exploration (see November 6, 2019 news releases) identified 18
distinct copper mineralization within an area of 9 sq. km, open in all directions.
Grab sample assays ranged from 0.3% to 4.2% copper with 34 of the 43 assaying in excess
of 1% copper , 15 of the 43 assaying in excess of 2% copper, and 4 of the 43 samples
assaying in excess of 3% copper. Silver also appears to be an important constituent with
values ranging from 1 to 116 grams per tonne. The company cautions investors that grab
samples are selected samples and are not necessarily representative of mineralization
hosted on the property.
The phase two exploratio n program is now underway the Company will release an
exploration update very soon.
North Choco Gold-Copper Project
North Choco consists of wholly owned mineral applications (250 sq. km), located
approximately 80 km SW of Medellin Colombia, encompassing 10 historic gold mines. The
recent NW Gold-Copper Discovery (refer 29 October 2019 news release) outcrop reported
1 metre of 49.8 g/t gold and 4.3% copper, which continues under cover in both directions.
The target area is also coincident with a Long Wave InfraRed (LWIR) anomaly and with
elevated gold-copper soil values. Future work will focus on mapping and sampling along
strike to extend the zone and on locating additional parallel zones.
Choco Gold Project
Choco Gold project consists of wholly owned mineral applications (250 sq. km), located
approximately 120 km SW of Medellín Colombia. These cover or are adjacent to historic
production of 605,110 ounces of gold by Choco Pacific Mining (1906 to 1990), and
encompass the conglomerate gold discovery, including the most recent concentrate results
of sample 001 grading 340.84 g/t gold and 111.03 g/t platinum and sample 002 grading
222.06 g/t gold and 113.83 g/t platinum (see April 16, 2019 News Release). The Company
has commenced discussions with a potential partner with the prerequisite expertise to
assist with the gold bearing conglomerates.
Sample 001 consisted of 26.8 kg of material subsequently panned to a concentrate of 57.99
g which was subsequently assayed and reported. Th e numbers for sample 002 were 22.8
kg and 39.39 g respectively
About Max Resource Corp.
Max is a mineral exploration company with an experienced and successful management
team focused on advancing the development of its landholdings in the rich mineral belts of
Colombia, with significant potential for the discovery of important- 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.
Tim McNulty
T: (604) 290-8100
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 "p lan", "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 unce rtainties 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 C orp. 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