Max Resource Significantly Expands the CONEJO Copper-Silver Zone at CESAR North, Colombia
Max Resource Significantly Expands the CONEJO
Copper-Silver Zone at CESAR North, Colombia
Vancouver B.C., Ma y 11, 2021 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC:
MXROF; Frankfurt: M1D2) is pleased to report new assay results increasing the area of the CONEJO Zone by
500% at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer
to Figure 2).
The latest set of assays expands the CONEJO copper-silver zone to an area covering 3.2-km by 1.6-km. The
CONEJO zone still remains open in all directions , lying along the mid portion of th e 80-kilometre-long CESAR
North copper-silver belt. CONEJO assay results include:
• Highlights of 3.0% copper and 22.6 g/t silver over intervals of 1.0-metre by 1.0-metre rock panels;
• Ten rock panel samples returned values above 1.0% copper;
• The CONEJO discovery returned values above 5.0% copper from twenty-three rock panels varying from
5.0-metre by 5.0-metre to 1.0-metre by 1.0-metre;
• Sixty-six panel samples returned values over 1.0% copper (refer to Figure 3 and Table 1).
The CONEJO mineralization occurs both as a stockwork of cross cutting fractures and as disseminated
mineralization hosted in igneous rock. Observed minerals include: chalcocite, native copper, cuprite and copper
oxides. Epidote is commonly associated with the copper mineralization (refer to Figure 1).
“Newly discovered in March of this year, and although early stage, CONEJO appears to have scalable potential.
Systematic mapping is now underway to determine both the density and orientation of the mineralized
structures,” commented Max CEO, Brett Matich.
“Over the last 18 months, Max has significantly extended CESAR North, consisting of five discoveries spanning
over 80-km of strike, demonstrating a district-scale sediment-hosted copper-silver system,” he continued.
“In addition, the Max team are eagerly awaiting assay results from another new discovery, the URU zone located
30-km south, which seems to be very similar mineralization to CONEJO,” he concluded.
Figure 1. The CONEJO copper-silver mineralization.
https://www.maxresource.com/images/news/MXR_EN_2021-05-11-Figure1.jpg
Figure 2. CONEJO zone location. Figure 3. CONEJO sample locations and geochemistry.
https://www.maxresource.com/images/news/MXR_EN_2021-05-11-Figure2.jpg
https://www.maxresource.com/images/news/MXR_EN_2021-05-11-Figure3.jpg
CONEJO Results 0.8% Copper and Above
Number Type Interval (m) Copper (%) Silver (g/t)
878469 rock panel 1.0 x 1.0 3.0 22.6
878496 rock panel 1.0 x 1.0 3.0 44.8
878460 rock panel 1.0 x 1.0 2.3 13.2
878461 rock panel 1.0 x 1.0 2.1 5.7
878465 rock panel 1.0 x 1.0 1.9 3.4
878459 rock panel 1.0 x 1.0 1.6 8.9
878470 rock panel 1.0 x 1.0 1.4 1.6
878495 rock panel 1.0 x 1.0 1.4 7.3
878491 chip channel 0.5 1.3 14.6
878494 rock panel 1.0 x 1.0 1.2 9.4
878458 rock panel 1.0 x 1.0 0.9 2.6
878653 representative 25.0 0.8 4.1
878464 rock panel 1.0 x 1.0 0.8 8.0
CONEJO Discovery Results 2.0% Copper and Above
878335 rock panel 5.0 x 5.0 12.5 83.5
878389 rock panel 1.0 x 1.0 10.7 51.6
878603 rock panel 3.0 x 2.0 10.5 50.1
878338 rock panel 5.0 x 5.0 10.4 95.2
878334 rock panel 5.0 x 5.0 10.2 61.9
878363 rock panel 5.0 x 5.0 10.0 79.9
878390 rock panel 1.0 x 1.0 9.5 120.0
878391 rock panel 1.0 x 1.0 9.0 67.2
878386 rock panel 1.0 x 1.0 8.9 66.3
878336 rock panel 5.0 x 5.0 8.7 89.4
878337 rock panel 5.0 x 5.0 8.4 60.4
878368 rock panel 5.0 x 5.0 7.9 21.0
878373 rock panel 5.0 x 5.0 7.7 84.1
878333 rock panel 5.0 x 5.0 7.4 47.2
878394 rock panel 3.0 x 3.0 7.3 80.0
878352 rock panel 5 .0x 5.0 7.0 44.5
878356 rock panel 5.0 x 5.0 6.0 28.5
878348 rock panel 5.0 x 5.0 5.8 16.1
878393 rock panel 1.0 x 1.0 5.5 63.7
878388 rock panel 1.0 x 1.0 5.5 84.4
878349 rock panel 5.0 x 5.0 5.3 19.0
878604 rock panel 1.0 x 1.0 5.0 54.1
878625 rock panel 5.0 x 5.0 4.9 36.2
878347 rock panel 5.0x 5.0 4.9 11.1
878362 rock panel 5.0 x 5.0 4.7 31.6
878351 rock panel 5.0 x 5.0 4.6 28.8
878620 rock panel 5.0 x 5.0 4.5 21.0
878614 rock panel 5.0 x 5.0 4.4 25.8
878387 rock panel 1.0 x 1.0 4.2 41.3
878381 rock panel 5.0 x 5.0 4.1 16.3
878353 rock panel 5.0 x 5.0 3.9 30.6
878617 rock panel 5.0 x 5.0 3.8 17.6
878602 rock panel 1.0 x 0.5 3.8 4.6
878619 rock panel 5 .0x 5.0 3.6 15.2
878359 rock panel 3.0 x 3.0 3.5 19.4
878364 rock panel 5 .0x 5.0 3.5 18.5
878358 rock panel 3.0 x 3.0 3.4 17.3
878427 rock panel 5.0 x 5.0 3.3 7.6
878360 rock panel 3.0 x 3.0 3.3 28.7
878621 rock panel 5.0 x 5.0 3.1 15.3
878605 rock panel 1.0 x 1.0 2.9 23.4
878346 rock panel 5.0 x 5.0 2.7 7.9
878361 rock panel 5.0 x 5.0 2.7 19.6
878606 rock panel 5.0 x 5.0 2.6 29.8
878607 rock panel 5.0 x 5.0 2.6 28.5
878610 rock panel 5.0 x 5.0 2.5 21.0
878354 rock panel 5.0 x 5.0 2.5 14.8
878382 rock panel 5.0 x 5.0 2.4 3.4
878345 rock panel 5.0 x 5.0 2.4 12.6
878000 rock panel 5.0 x 5.0 2.4 14.4
878424 rock panel 5.0 x 5.0 2.3 2.8
878601 rock panel 1.0 x 1.0 2.1 6.3
878419 rock panel 5.0 x 5.0 2.0 5.9
878628 rock panel 5.0 x 5.0 2.0 12.9
878379 rock panel 5.0 x 5.0 2.0 20.6
878551 rock panel 1.0 x 1.0 2.0 4.7
Table 1. CONEJO assay results. Max cautions investors that rock panel and representative sampling can both
be selective and are not necessarily representative of the mineralization.
Max interprets the sediment-hosted stratabound copper-silver mineralization of the Cesar Basin to be
analogous to the Kupferschiefer Basin in Poland. The Kupferschiefer deposits, Europe’s largest copper source,
produced 3MT of copper in 2018 and 40 million ounces of silver in 2019 from an orebody 0.5 to 5.5-metres
thick, grading 1.49% copper and 48.6 g/t silver. This silver yield is almost twice the production of the world’s
second largest silver mine.
Source: World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019.
Max cautions investors that the presence of copper-silver mineralization at Kupferschiefer is not necessarily
indicative of similar mineralization at CESAR.
CESAR COPPER-SILVER PROJECT IN COLOMBIA - OVERVIEW
The CESAR project, that covers a significant portion of the 200-km long Cesar Basin in North Eastern Colombia,
has now been demonstrated to contain widespread highly prospective copper-silver mineralization.
This region enjoys major infrastructure as a result of oil & gas and mining operations, including Cerrejon, the
largest coal mine in Latin America, jointly owned by global miners BHP Billiton, Xstrata and Anglo American
(refer to Figure 2).
Due to the district -scale copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted
exploration program for 2021:
Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of
historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration
with Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”) in Medellín (January 7, 2021 NR);
Geochemical and Mineralogical: geochemical and mineralogy research programs by the University of Science
and Technology (“AGH”) of Krakow, Poland. AGH bring their extensive knowledge of KGHM’s world renowned
Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;
Geophysics: Fathom Geophysics is interpreting regional airborne magnetic and radiometric data, funded by
the Company in collaboration with one of the world's leading copper producers;
Proprietary Field Exploration & Techniques : Max’s exploration teams continue to explore copper -silver
stratabound targets at CESAR;
● CESAR North 80-kilomtre-long-copper-silver belt (refer to Figure 2):
- In 2020, Max identified the AMS (previously named AM South) and AMN (previously named AM
North) stratabound copper-silver zones, collectively spanning over 45-km², with highlight values of
0.1 to 34.4% copper and 5.0 to 305.0 g/t silver over intervals ranging 0.1 to 25.0-metres;
- In March 2021, Max reported the CONEJO discovery, now spanning an area of 3.2-km by 1.6-km and
open in all directions. CONEJO returned values above 5.0% copper from 23 rock panels varying from
5.0m by 5.0m to 1.0m by 1.0m, 66 rock panel samples returned values over 1.0% copper (March 24,
2021 NR). Highlight assays above 9% copper and 50 g/t silver:
- 12.5% copper + 84 g/t silver over 5.0-metre by 5.0-metre
- 10.5% copper + 50 g/t silver over 3.0-metre by 2.0-metre
- 10.4% copper + 95 g/t silver over 5.0-metre by 5.0-metre
- 10.2% copper + 62 g/t silver over 5.0-metre by 5.0-metre
- 10.0% copper + 80 g/t silver over 5.0-metre by 5.0-metre
- 8.7% copper + 89 g/t silver over 5.0-metre by 5.0-metre
- 8.4% copper + 60 g/t silver over 5.0-metre by 5.0-metre
- 7.9% copper + 21 g/t silver over 5.0-metre by 5.0-metre
- 7.7% copper + 84 g/t silver over 5.0-metre by 5.0-metre
- 7.4% copper + 47 g/t silver over 5.0-metre by 5.0-metre
- Early April 2021, Max identified the URU zone, located 30-km south of the CONEJO zone. Sampling
indicated the presence of copper mineralization extending over 3.7-km, and open in all directions.
Rock samples were sent to ALS for analysis, with results expected in May;
- Late April 2021, Max identified the SP target, which lies along the mid portion of the CESAR North
80-km belt in line with the four previous copper discoveries URU, CONEJO, AMN and AMS. Rock
samples were sent to ALS for analysis, with results expected in June;
- Exploration continues on CONEJO, URU and SP;
• CESAR West: Max has initiated a first pass field program to identify copper-silver mineralization along
the new CESAR West 180-kilometre-long copper-silver target zone.
QUALIFIED PERSON
The Company’s disclosure of a technical or scientific nature in this news release has been 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. is an Energy Metals and Precious Metals exploration company, engaged in advancing both
its district-scale CESAR copper-silver project in Colombia and the newly acquired RT Gold project in Peru.
Both projects have potential for the discovery of large-scale mineral deposits; both sediment-hosted-type
copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.
Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021,
achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.
For more information visit: https://www.maxresource.com/
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For additional information contact:
Max Resource Corp.
Tim McNulty
T: (604) 290-8100
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