Max Resource Increases Cesar Copper-Silver Project Ownership to 100%
Max Resource Increases Cesar Copper-Silver Project
Ownership to 100%
Vancouver B.C., November 15, 2019 – MAX RESOURCE CORP. (“Max” or the “Company”)
(TSX.V: MXR; OTC: MXROF; Frankfurt: M1D1) is pleased to report the Company has
executed an agreement increasing the ownership of its Cesar Copper-Silver project (“Cesar”)
in Colombia to 100%. The Vendor has agreed to retain a share of profits from production, on
existing and any future Cesar mineral applications staked by Max.
The Cesar Copper -Silver project lies within the 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. Cesar represents a type of sedimentary hosted copper mineralization which is
typically flat lying, near surface and is known to be extensive in Africa, Poland and Colombia.
These types of deposits are generally higher grade than copper porphyry deposits
Historically, the Cesar project area has been explored from a local context, but never in a
broader picture. Initial field work by the Company in September has confirmed the
widespread historic c opper-silver occurrences are more than coincidence and copper
mineralization of a significantly larger scale may very well be lurking in the area.
The second phase of exploration has now commenced with the aim of establishing the
potential strike, recording dip and width of the mineralization and investigation from a more
regional perspective.
“We have been working very closely with our in-country partners strategizing consolidation
of land holdings that cover the sedimentary hosted copper-silver priority zones,” Max CEO,
Brett Matich, stated.
“The initial sampling program conducted in the summer resulted in locating high-grade
copper and silver mineralization spread over an area measuring 9 sq. km, from outcrops with
up to 4.2% copper and up to 116 g/t silver. These significant exploration resu lts have
reinforced our belief the Cesar Project area hosts significant undiscovered copper deposits
and our exploration could lead to future discoveries for the Company,” he continued.
Cesar Copper-Silver Project
The wholly owned Cesar Copper-Silver project is located approximately 420 km north of
Bogota, within the northern Andean Copper Belt in northeastern Colombia. The town of
Barrancas, 70 km to the north by paved road, provides local infrastructure, including a
municipal airport, and has a population of 37,000. Tidewater, at the Puerto Bolivar shipping
terminal, lies 180 km to the northeast.
First pass exploration (see November 6, 2019 news releases) identified 18 distinct copper
occurrences within an area of 9 sq. km, open in all directions. Grab sample a ssays 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 an d are
not necessarily representative of mineralization hosted on the property.
Max recently appointed Mr. Piotr Lutynski, M.Sc., P. Eng., to the Company’s Advisory Board
and as Head Geologist. His expertise in sediment- hosted copper -silver mineralization,
specifically with the most well-known deposit of this type, Kupferschiefer in Poland , will be
invaluable. Kupferschiefer will form the basis of the Cesar geological model . The Cesar
Copper-Silver project has a similar mechanism for mineralization, host rock and very likely
stratigraphy and is a very similar exploration target
Phase two of the exploration program is now underway and will run through to mid -
December.
Profit Share on Production
The 15% Profit Share o n Production (“PSP”) is calculated on revenues after deducting any
related costs including , but not limited to , exploration, feasibility studies , infrastructure
expenses, environmental and social expenditures, project financing expenses, taxes and
reclamation. Max will have the first right of refusal to purchase any portions of this PSP that
the Vendor may which to sell.
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
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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
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certain events or conditions "may" or "will" occur. Forward -looking statements are b ased 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
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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 man agement'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 i s
contained in the Company’s filings with Canadian securities regulators, which filings are available at
www.sedar.com