Max Resource Reports 1m of 49.8 g/t Gold and 4.3 % Copper at North Choco
Max Resource Reports 1m of 49.8 g/t Gold and 4.3 % Copper at North Choco
Vancouver B.C., October 29 , 2019 – MAX RESOURCE CORP. ( “Max” or the “Company”) (TSX.V: MXR; OTC:
MXROF; Frankfurt: M1D1) is pleased to report a high-grade gold-copper discovery within its 100% owned North
Choco Gold project (“North Choco”). Continuous rock chip sample collected over 1m sample interval at the new NW
Gold-Copper Discovery returned 49.8 g/t gold and 4.3 % copper , with the mineralized zone continuing under the
cover in both directions. The m ineralization appears to be structurally controlled within granodiorite to quartz
monzonite and is coincident with a Long Wave InfraRed (LWIR) anomaly (refer to Figure 1).
Max was drawn to the blind NW Gold-Copper Discovery area by the historic work of Ingeominas in combination with
the recently completed LWIR survey. The regional silt sampling program completed in September and October
highlighted creeks draining the discovery area in the opposite direc tion returning values of 28 ppb gold and 338
ppm copper and 11 ppb gold and 200 ppm copper respectively.
The NW Gold Discovery lies on the southeast contact of an LWIR Alunite anomaly. Soil sampling completed across
the Alunite anomaly in the discovery area returned elevated gold and copper values and led to the discovery of the
high-grade zone. Once readily accessible, future work will focus on mapping and sampling along strike to extend the
zone and on locating additional parallel zones.
The wholly owned North Choco Gold project is located approximately 80 km SW of Medellin, the area is to be reduced
to approximately 400 sq. km of mineral applications covering four prospective areas, including 10 historic gold
mines and the NW Gold-Copper Discovery. It’s important to note that AngloGold Ashanti’s 2005 Quebradona gold-
copper discovery and IAMGold’s 2010 Caramanta gold -copper discovery are both in a similar geological
environment to the NW Gold-Copper Discovery area, located 12 km NE and 6 km W respectively (refer to Figure 2);
• Quebradona hosts a 2014 inferred mineral resource of 604 million tons grading 0.65% copper, 0.32 g/t gold,
4.4 g/t silver and 116 ppm molybdenum representing an inferred 6.1Moz gold & 3.95Mt copper and hosts
four additional porphyry centres. Source “Discovery and Ge ology of the Nuevo Chaquiro Cu -Au (Ag -Mo)
Porphyry Deposit” by N. Winer, VP Greenfields Colombia, AngloGold Ashanti and undated;
• Caramanta hosts five porphyry centres and has recorded several drill intersections in excess of 1 g/t gold,
including a highlight value of 460.6m at 1.4 g/t gold equivalent. Source “Technical Report on the Caramanta
Project, Department of Antioquia, Republic of Colombia by O’Prey, 2014 for Solvista Gold Corporation;
Max cautions investors that results from adjacent and nearb y properties are not necessarily representative of the
mineralization hosted at North Choco.
“Considering the NW Gold-Copper Discovery is open at both ends and the LWIR anomaly together with the elevated
gold-copper soil values show potential continuation under cover and the potential at depth, we believe there could
be sizable amounts of both gold and copper,” Max CEO, Brett Matich, stated.
“We plan to return to North Choco once accessibility becomes more readily available; our immediate attention will
focus on the Cesar property area, a prolific copper-silver belt with ready field accessibility. The Cesar Copper-Silver
project meets Max’s strategy of identifying opportunities that represent significant potential for Tier 1 mineral
discoveries in Colombia. Max’s increased copper exposure, bodes well with increasing copper deficits, as the price
has increased over 4% this month.” He continued.
Cesar Copper-Silver Property
Cesar Copper-Silver property is located approximately 420 km north of Bogota in NE Colombia. Max’s first field
program achieved early success in identifying 12 distinct outcrops spread over 9 sq. km indicating the mineralization
is open in all directions; significant highlight grab sample copper assays of up to 4.15% and associated highlight
silver assays of up to 116 g/t were obtained (see September 24, 2019 News Release). Max cautions investors selected
grab samples are selected samples and are not necessarily representative of mineralization hosted on the property.
Copper and silver assay results are pending from 6 additional locations.
The Max Technical Team is currently co mpiling and interpreting recently released historic data, oil/gas drill holes,
seismic data and interpreting the recent (LWIR) survey conducted by Max, prior to commencing the November-
December exploration programs.
Choco Gold Project
The wholly owned Choco Gold project, located approximately 120 km S W of Medellín Colombia, is currently being
reduced to approximately 350 sq. km. of mineral applications. These cover or are adjacent to historic production of
605,110 ounces of gold by Choco P acific Mining (1906 to 1990 ), and encompass the conglomerate gold discovery,
including the most recent alluvial 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).
Sample 001 consisted of 26.8 kg of material subsequently panned to a concentrate of 57.99 g which was subsequently
assayed and reported. The numbers for sample 002 were 22.8 kg and 39.39 g respectively. Furthermore, Max has
commenced discussions with a potential partner with the prerequisite expertise to assist with the gold bearing
conglomerates.
What is Long Wave InfraRed (LWIR)
LWIR analysis, through proprietary processing of Aster satellite data, has the ability to map or identify, through
reflectance spectroscopy against a set of known standards, mineral distribution over large areas covered by
vegetation and shallow cover. The ground -penetrating nature of infrared radiation in the long -wave bands allows
viewing of mineral spectra in the first 30 to 60 centimetres of the earth's surface through dense vegetation. Anomaly
maps are then generated for a suite of the 16 most abundant minerals within the area of the survey.
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 belt s of Colombia, which have 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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