Max Resource Reports 3.0% Copper + 29 g/t Silver Over 250-metres at AM North on its CESAR Project, NE Colombia
Max Resource Reports 3.0% Copper + 29 g/t Silver Over 250-metres at
AM North on its CESAR Project, NE Colombia
Vancouver B.C., October 28, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR;
OTC: MXROF; Frankfurt: M1D2) is pleased to report a series of 25-metre representative grab samples collected
over 250-metres from the Herradura zone at AM North (refer to Figures 2 and 3) of the Company’s wholly-owned
CESAR project:
• 5.8% copper + 51 g/t silver over 25-metres (#875507)
• 5.2% copper + 58 g/t silver over 25-metres (#875503)
• 3.3% copper + 32 g/t silver over 25-metres (#875504)
• 2.4% copper + 23 g/t silver over 25-metres (#875508)
• 0.9% copper + 7 g/t silver over 25-metres (#875505)
• 0.5% copper + 5 g/t silver over 25-metres (#875506)
Each sample was taken from the available outcrop over 25-metre intervals and combined into one sample. The
average grade over 250-metres is 3.0% copper + 29 g/t silver. Thickness of the copper-silver horizon has yet to
be determined (refer Figures 3 and 4). Max cautions investors composite representative rock grab sampling can
be selective.
The Company considers these results to be extremely significant as they clearly demonstrate the persistence of
copper-silver mineralization over 250-metres. The angle of the slope and the dip of the copper -silver horizon
appears to be closely parallel, meaning the mineralization crops out at surface. The absence of visible copper
oxides (malachite or azurite) in these samples indicate the dominant copper mineral is likely chalcocite which
carries a higher (80%) copper content.
The CESAR AM North copper-silver mineralization is interpreted to be stratabound, hosted in fine-grained clastic
sediments: sandstone and siltstone. The general strike of the AM North copper-silver mineralization is 245
degrees with a shallow dip to the NW. CESAR’s AM South copper-silver zone occurs 40-km SSW of AM North
along the same mineralized trend.
The Company believes the stratabound copper -silver mineralization at CESAR is analogous to the European
Kupferschiefer deposits, Europe’s largest copper source, with production in 2018 of 3 million tons grading 1.49%
copper and 48.6 g/t silver from a miner alized zone of 0.5 to 5.5- metre thickness. Source: The Kupferschiefer
Deposits and Prospects in SW Poland: Past, Present and Future by dmpi.com, September 27, 2019.
The Kupferschiefer deposits, yielded 40 million ounces silver in 2019, almost twice the production of the world’s
second largest silver mine (World Silver Survey 2020). Max cautions investors that the presence of stratabound
copper-silver mineralization at Kupferschiefer is not necessarily indicative of similar mineralization at CESAR.
“While the geometry of the outcrop exposures indicate that the copper-silver horizon appears to be close to
paralleling the slope, we are extremely encouraged to see the distribution of copper -silver mineralization that
continues along 250-metres of the horizon,” said Max CEO, Brett Matich.
“The Max in- country field team continues to make discoveries , further substantiating our Kupferschiefer-style
geological model for CESAR, as we significantly expand the CESAR mineralization working towards our goal of
a major Kupferschiefer copper silver deposit,” he continued.
“With the price of copper increasing to a rebound two year high of US$7,000 per ton in October, the importance
of the CESAR copper-silver project also increases, so we have implemented additional measures to significantly
increase our land position within this key copper-silver basin,” he concluded.
Figure 1. CESAR location map Figure 2. AM North – Herradura Zone
https://www.maxresource.com/images/news/20201028_figure1.jpg
https://www.maxresource.com/images/news/20201028_figure2.jpg
This reconnaissance representative grab rock sampling conducted by the Max field crew allows the Company to
identify mineralized intervals that are later followed up with mapping and systematic chip channel sampling. This
approach has established the priorities for Max at CESAR to be: surface geochemical sampli ng, structural
mapping, seismic data interpretation and logging of the oil-gas drill hole core chips.
Copper-silver mineralization at the Herradura zone is of a stratabound/Kupferschiefer type with mineralization
hosted in fine-grained sediments: sandstone and siltstone. The m ineralization is mainly represented by
chalcocite and copper oxides malachite and azurite. Based on field observations and mineralogical studies, it is
expected that at shallow depth copper oxides (malachite and azurite) grade into copper sulfide, mainly chalcocite
(80% copper content).
Figure 3. AM North – Herradura - 3.0% copper + 29 g/t silver over 250-metres
https://www.maxresource.com/images/news/20201028_figure3.jpg
Figure 4. Herradura Landscape – 3.0% copper + 29 g/t silver over 250-metres
https://www.maxresource.com/images/news/20201028_figure4.jpg
QUALITY ASSURANCE
All samples were shipped to the ALS Lab sample preparation facility in Medellin, Colombia. Sample pulps are
sent to Vancouver, Canada for analysis. All samples are analyzed using ALS procedure ME -MS41, a four-acid
digestion with ICP finish. Over limit copper and silver are determined by ALS procedure OG -62, a four -acid
digestion with an AAS fini sh. ALS Labs is independent from Max. Max is not aware of any other factors that
could materially affect the accuracy or reliability of the data referred to herein.
CESAR COPPER-SILVER PROJECT - COLOMBIA
The wholly-owned CESAR project in north east Colombia lies along a 120- kilometre sediment-hosted copper-
silver belt, that resembles the Kupferschiefer in Poland. The CESAR region enjoys major infrastructure. Mining
operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton,
XStrata and Anglo American (Figure 1).
Important highlights and exploration activity on multiple fronts:
• AM North forms 11-kilometre long zone of stratabound copper-silver mineralization that is open along
strike and down dip. The zone also contains a high-grade area with varying intervals grading 4.0 to
34.4% copper + 28 to 305 g/t silver (July 29, 2020). Two bulk samples extracted from each end of the
1.8-km discovery horizon, returned 9.4% copper + 79 g/t silver and 3.5 % copper + 29 g/t silver (May
21, 2020);
• The AM South zone occurs 40-km SSW of the AM North zone. The AM South zone extends over an
area of 4 -kilometres by 4-kilometres, and remains opens laterally. The cumulative strike length of the
open-ended AM South horizons exceeds 6.4 -kilometres, returning highlight values of 6 .8% copper and
168 g/t silver from 0.1 to 25- metre intervals, suggesting these horizons could be of significant size
(October 7, 2020);
• Fathom Geophysics is currently interpreting geophysical data funded by the Company in collaboration
with one of the world's leading copper producers;
• Geochemical and mineralogical research programs by the University of Science and Technology (“AGH”)
of Krakow, Poland are ongoing. AGH will bring their extensive knowledge of KGHM’s world renowned
Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;
• Ongoing structural analysis of the CESAR project and interpretation of seismic data is being conducted
by Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”) in Medellín, in conjunction with the
Max field team;
• Max has entered into three non-exclusive confidentially agreements regarding the CESAR project: the
first with one of the world’s leading copper producers, a second with a global mining company and a third
with a mid-tier copper explorer;
• Planned work: logging and XRF analysis for copper of available drill core from historical oil and gas drilling
in the western portion of the basin;
• Continue to expand the landholdings along the 120-kilometre-long CESAR copper silver belt;
• Our in-country field team is conducting on-going prospecting, rock sampling, expanding and confirming
the continuity of widespread copper-silver mineralization.
RT GOLD PROPERTY – PERU
The RT Gold property consists of two contiguous mineral concessions covering 1,983 hectare and sit ed along
the Condor mountain chain of northern Peru, within the Cajamarca Metallogenic belt, 760-km NW of Lima in the
District of Tabaconas. Max has rights to acquire 100%; the option requires yearly payments of US$300,000 over
four years and exercise of the option requires an additional US $3,000,000 payment on or before the fifth
anniversary. The Vendors will retain 2.5% NSR.
Source: NI43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, Oct.3, 2011
This geological belt extends from central Peru into southern Ecuador, and hosts a number of world class gold
deposits, including Fruta Del Norte (10Moz), Minas Conga (17Moz), Yanacocha (36Moz), Lagunas (8Mozs) and
Pierina (7Mozs). Presence of mineralization at Yanacocha, Minas Conga, Fruta Del Norte, Lagunas, and Pierina
is not necessarily indicative of similar mineralization at RT Gold. Source: www.portergeo.com.au
Two distinct mineralized systems occur within the RT Gold property: the Cerro Zone, a bulk tonnage gold-bearing
porphyry, and 3-km to the NW, the Tablon Zone, a gold-bearing massive sulfide zone. The last field exploration
was conducted a decade ago.
Cerro Zone
The Cerro Zone hosts several known mineralized zones (Peak, West, Breccia and Cathedral) with anomalous
concentrations of gold in rock and soils:
• Structures assaying 0.1 to 62.9 g/t gold, hosted in mineralized wall rock returning gold values of 0.5 to
1.0 g/t gold;
• Soil geochemistry for gold in the Cerro Zone has outlined a 2.0-km by 1.5-km gold anomaly, open in all
directions grading from 0.1 to 4.0 g/t gold;
• Soil geochemistry for gold is coincident with IP chargeability;
• The Cerro Zone has never been drill tested.
Tablon Zone
The Tablon Zone is located 3- km NW from Cerro and hosts numerous gold- bearing massive to semi-massive
sulphide bodies over a 150-metre by 450-metre area, within a larger 1.0-km by 1.5-km area of anomalous gold
soil and rock geochemistry. A total of 33 holes were diamond drilled in 2001 at Tablon with highlight intersections
of:
• RT-03 returned 50.0 g/t gold over 0.7m from 62.2m;
• RT-06 returned 3.1 g/t gold over 21.4m from 9.1m;
• RT-11 returned 5.3 g/t gold over 17.1m from 12.0m;
• RT-13 returned 8.8 g/t gold over 25.4m from 13.4m;
• RT-21 returned 5.1 g/t gold over 19.5m from 1.5m;
• RT-22 returned 4.9 g/t gold over 14.1m from 40.1m;
• RT-25 returned 13.0 g/t gold over 36.1m from 33.0m;
• RT-26 returned 7.0 g/t gold over 6.0m from 0.0m;
• RT-29 returned 18.0 g/t gold over 16.4m from 34.9m, includes 118.1 g/t gold over 2.2m from 42.0m.
Intervals are core lengths not true widths, which are unknown at this time. Source: NI43:101 Geological Report
Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, October 3, 2011.
The Max technical team is currently reviewing and digitizing proprietary data for subsequent interpretation for
target generation. A program of field verification by the Max in-country team: mapping, surveying and sampling
is scheduled to follow. Concurrent with the verification program, the Company will be initiating drill permitting.
ABOUT MAX RESOURCE CORP.
With its successful exploration and management team, Max Resource Corp. is advancing both its stratabound
Kupferschiefer type CESAR copper-silver project in Colombia and its newly acquired RT Gold , gold porphyry
and massive sulfide project in Peru . B oth have potential for the discovery of large- scale mineral deposits
attractive to 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
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