Max Resource Identifies Visible Copper Oxide Mineralization at Cesar
Max Resource Identifies Visible Copper Oxide
Mineralization at Cesar
Vancouver B.C., January 8, 2020 – MAX RESOURCE CORP. (“Max” or the
“Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to provide
an update to the Phase 1 exploration program for the Company’s 100% owned
Cesar copper-silver project, located 420 km north of Bogota, Colombia.
This part of the exploration program consisted of rock chip sampling across
stratigraphy with the purpose of identifying potentially economic copper-silver
mineralization of which assay results are pending.
Max field geologists selected eight samples from different lithological units for
petrographic analysis at Vancouver Petrographics. All eight samples show vivid
green chrysocolla and malachite, along with azurite, chalcocite, chalcopyrite, and
also native copper (refer to Figure 1).
Phase II of the Cesar exploration program is scheduled to commence in mid-January
2020 to follow-up reported assay results, conduct additional chip and/or channel
sampling, and identify drill targets, along with geological modelling and field visits
of other stratabound copper-silver targets in the Cesar regional area.
“Initial Cesar phase of exploration reported grab sample assays ranging from 0.3%
to 4.2% copper and from 1g/t to 116g/t silver, the first batch of chip sampling assay
results are expected very soon. We are very encouraged with the visible copper
oxide mineralization throughout a concentrated area of our Cesar copper-silver
project and will continue to focus our exploration strategy toward a significant
discovery in the Jurassic rocks of northeast Colombia,” Max CEO, Brett Matich,
stated.
“The widespread copper occurrences throughout this area of Colombia support the
Company’s belief these rocks could host a significant copper-silver deposit similar to
the European Kupferschiefer,” he continued.
Figure 1. Mineralized samples from the Cesar copper-silver project with visible copper
oxide mineralization.
Cesar Copper-Silver Project
Cesar is located in north east Colombia within Jurassic sediments and volcaniclastics
that run through the length of northern South America and host significant
stratabound copper -silver mineralization in Ecuador and Peru. Worldwide deposit
examples include the Copperbelt of Central Africa and the Kupferschiefer of Germany
and Poland. Max cautions investors that the presence of stratabound copper -silver
mineralization at Copperbelt and Kupferschiefer is not necessarily indicative of
similar mineralization at Cesar.
Historically, the Cesar copper belt has only been explored from a local context, but
never in a broader larger-scale perspective. The initial exploration program identified
19 distinct mineralized copper occurrences over an area of 9 sq. km, which is open in
all directions.
The first part of the Phase 1 exploration program previously reported grab sample
assays ranging 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 values ranged from 1 to 116g/t. The Company cautions
investors that grab samples are selected samples and are not necessarily
representative of mineralization hosted on the property.
North Choco Gold-Copper Project
North Choco consists of wholly owned mineral applications (250 sq. km), located
approximately 80 km SW of Medellin, Colombia. The recent NW Gold -Copper
Discovery (refer to 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 would 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 and cover or are adjacent
to historic production of 605,110 ounces of gold by Choco Pacific Mining (1906 to
1990).
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
The Company has commenced discussions with a potential partner with the
prerequisite expertise to assist with the gold bearing conglomerates.
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 securit ies 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 tho se 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 Comp any’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.sedar.com