Max Resource Discovers 5 New Copper & Silver Targets at CESAR
Max Resource Discovers 5 New Copper & Silver Targets at CESAR
Vancouver B.C., February 7, 2024 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF;
Frankfurt: M1D2) is pleased to report that it has discovered a series of five mineralized outcrops (collectively
Target Area AM -14) on a Mining Concession , within the AM District of its wholly-owned Cesar Copper -Silver
Project, Northeastern Colombia.
Highlights
• 5 newly discovered outcrops of stratiform copper-silver mineralization covering 1,000m2.
• Mineralized layers are exposed up to 285m along strike and range in thickness from 0.8m to 4.0m.
• Confirms multiple copper-silver bearing horizons within thick sedimentary rock sequence.
• Strong evidence of 1.5-km continuity of mineralized layers between new discovery and AM-07.
The five discoveries confirm multiple copper-silver bearing layers within a 700-metre-thick sequence of
interbedded sandstones in the AM District. Additionally, there is strong evidence to suggest that one of the newly
discovered outcrops (Outcrop #2) is a continuation of the mineralized horizon at target AM -07, located
approximately 1.5-km to the northeast. This supports the Company’s interpretation that the copper-silver bearing
layers in the AM District are continuous over large distances, similar to the Kupferschiefer and Kamoa- Kakula
deposits.
“As we continue to obtain high -grade results and locate significant structural and stratiform copper- silver
mineralization, the Company's staunch belief in Cesar as a potential for significant deposits comes ever closer to
fruition,” commented Brett Matich, CEO of Max.
“The AM-14 mapping and sampling outlines an area some 600 to 1000 metres by 1000 to 1200 metres, strongly
supporting our belie f in Cesar as a regional or district copper- silver target, as opposed to a cluster of smaller
unrelated zones. We look forward to assay results in the coming weeks,” he concluded.
Description of the Mineralisation
Preliminary work has determined that mineralization is hosted in layers of medium to fine-grained sandstone rich
in organic material. The copper- silver bearing horizons are distributed across a 700 -metre-thick package of
interbedded sedimentary rocks that strike 240⁰ to 260⁰ and dip 30⁰ to 45⁰ northwest. Chalcocite, malachite and
azurite are the most abundant copper minerals observed in the outcrop (refer to Figure 1 to Figure 3).
All five of the outcropping mineralized beds are open along strike and at Outcrop #2, the copper- silver bearing
sandstone horizon could be traced along strike for over a distance of 285m. Similarly, at Outcrop #5, the
mineralized horizon exposed for over 130m before disappearing under cover. Layer thickness ranges from 0.8m
at Outcrop #4 to 4.0m at Outcrop #5.
Systematic channel sampling of the mineralized outcrop has now commenced. In addition, crews have begun
detailed mapping in the vicinity of the discovery with the goal of extending the footprint of mineralization.
Figure 1: Newly Discovered Outcrop #1 at AM-14
Image shows outcrop of Cu-Ag bearing sandstone. The mineralized horizon is 2 metres thick and exposed for 4 metres along strike
before disappearing under cover.
2m
Figure 2: Newly Discovered Outcrop #2 at AM-14
Image shows outcrop of Cu-Ag bearing sandstone. The mineralized horizon is 1.25 metres thick and exposed for 236 metres along strike
before disappearing under cover.
1.25m
Figure 3: Newly Discovered Outcrop #5 at AM-14
Image shows outcrop of Cu-Ag bearing sandstone. The mineralized horizon is 4 metres thick and exposed for 130 metres along strike
before disappearing under cover.
4m
Figure 4: Location of the AM-14 Discovery
Figure 4: Location of Newly Discovered Outcrops in Target Area AM-14
Background
The Cesar Copper Silver Project comprises three districts: AM, Conejo and URU. Collectively the three contiguous
districts stretch over 120-km in NNE/SSW direction (refer to Figure 5).
Figure 5: Location and Scale of the Cesar Copper Silver Project, NE Colombia
This region provides access to major infrastructure established for 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 in expanding its 100% owned landholdings; Endeavour will hold an underlying 0.5% NSR.
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 34.4% copper and 305
g/t silver have been documented in the sedimentary red bed sequences. The Company confirmed that stratiform
mineralization continues at depth with two scout drill holes completed earlier this year (Max News Release dated
April 4, 2023 ). In addition, Colombian field crews continue to discover and sample new mineralized outcrops
including at the recently identified AM -7 target (Max News Release dated May 25, 2023 and Max News Release
dated June 22, 2023).
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 4.9% copper (2%
cut-off). No drilling has been conducted at Conejo, but it has emerged as an area of focus for the Company.
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 7.0% copper and 115 g/t silver surface
discovery was confirmed at depth by drill hole URU-12, which intersected 10.6m of 3.4% copper and 48 g/t silver.
At the URU-CE target, 750m to the east, 19.0m of 1.3% copper discovered in outcrop was confirmed by drill hole
URU-9, which intersected a broad zone of copper oxide returning 33.0m of 0.3% copper from 4.0m, including
16.5m of 0.5% copper (Max News Release date January 24, 2023).
Cesar Target Evaluation
Max has identified and is evaluating 28 targets along the 120-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 e of its geological teams to