Max Resource Identifies 4 New Target Areas at Cesar Copper-Silver Project Airborne Magnetic and Radiometric Survey Extended
Max Resource Identifies 4 New Target Areas at Cesar Copper-Silver Project
Airborne Magnetic and Radiometric Survey Extended
Vancouver B.C., October 24, 2023 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF;
Frankfurt: M1D2) is pleased to report that initial interpretation of preliminary airborne magnetic-radiometric survey data
has identified 4 new target areas (AM-9 to AM-12) within the AM district of its 100% owned Cesar Copper -Silver Project
located in Northeastern Colombia. The success and effectiveness of the airborne survey has resulted in Max extending the
survey by 6.000 line-km; it will now cover all three districts of the Cesar Project: AM, Conejo and URU.
Figure 1: AM District Targets, Cesar Cu-Ag Project.
Highlights
• The initial 4,000-line kilometre airborne magnetic and radiometric survey flight-lines were spaced 125m apart at
a nominal flying height of 100m. The survey was the first of its kind covering approximately 400 sq-km.
• Preliminary evaluation of the airborne data identified 4 new target areas (AM-9 to AM-12) within the AM district,
which includes 15 Mining Concessions covering approximately 113 sq- km (refer to Figure 1) . The initial results
demonstrate an excellent correlation between the known areas of mineralization and magnetic-radiometric data.
• Magnetic and radiometric data were recorded simultaneously during the airborne survey. The datasets will be
instrumental for understanding geologic structures (faults) , which act as the conduit for mineralized fluids to
infiltrate the permissive sedimentary rocks and precipitate the copper-silver minerals.
• Based on the strength and efficacy of the data, Max has elected to extend the survey to cover the 2 districts south
of AM: the Conejo and URU Districts. In total, there will be 10,000-line kilometre of high-resolution data covering
1,150 sq-km to be collected over all three districts of the Cesar Copper-Silver Project (refer to Figure 4).
“It is clear, even at this early stage, the techniques employed by Max will produce essential datasets for our continuing
exploration efforts at Cesar. The information from this survey will allow Max to evaluate its growing land package and pin-
point new target areas for follow -up exploration. Equally important, the data will be used to expand existing tar gets
through better understanding of their structural environment,” commented Brett Matich, CEO of Max.
“Expanding the survey was a logical decision given its obvious effectiveness over the AM District. There is a wealth of
information contained in magnetic and radiometric data; and we are excited to see what the interpretation of the final,
fully processed data will reveal,” he concluded.
Figure 2: Schematic of Magnetic Anomaly Created by Geologic Faults.
Max recently announced the commencement of the airborne magnetic and radiometric survey (Max News Release dated
August 31, 2023). The new target areas were identified following an analysis of preliminary survey data for geological
structures (faults), which form the conduit for mineralized fluids to infiltrate the permissive sedimentary rocks in the AM
District (refer to Figure 2). The pattern of faulting around known mineralization was evaluated and similar patterns were
identified in areas where no exploration had been previously conducted. Crews will assess each of the areas with
prospecting, mapping and sampling in the coming weeks. It’s expected that additional target areas will emerge once the
airborne data has been fully processed and a rigorous interpretation conducted.
Survey Description
The high quality airborne geophysical survey was carried out by Xcalibur Multiphysics (“X calibur), a specialized,
independent geophysical contractor with offices located around the world, including Bogota, Colombia (refer to Figure 3).
The fixed-wing airborne survey was flown over the AM District in August/September 2023. The nominal survey flying
height was 100m above the canopy. A total of 10,000-line kilometres will be flown along E-W transverse lines separated
by 125m. Final data processing will be performed by Xcalibur.
Figure 3: Xcalibur Multiphysics Magnetic & Radiometric Survey Aircraft.
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 4).
This region provides access to major infrastructure from oil & gas and mining operations, includ es Cerrejón, the largest
coal mine in South America, held by global miner Glencore. Max’s 20 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 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.
Figure 4: Location of the Cesar Copper Silver Project, NE Colombia.
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 ). ( Note: all drill intersections are down holes widths, not true width, which remains
unknown at this time.)
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, P.Geo (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 C esar 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 (100% earn-in) in Peru, encompassing a bulk tonnage primary gold porphyry
zone, and 3-km to the NW, a gold bearing massive sulphide zone. Historic drilling in 2001, returned values ranging 3.1 to
118.1 g/t gold over core lengths ranging from 2.2 to 36.0m.
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 th rough 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: [email protected] T: (604) 290-8100
Rahim Lakha E. [email protected]
Brett Matich T: (604) 484 1230
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