Vancouver, British Columbia--(Newsfile Corp. - July 7, 2021) - MAX RESOURCE CORP. (TSXV: MXR) (OTC PINK: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report the expansion of the newly discovered URU zone from 4 to 12-kilometres of strike, at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer to Figures 1 to 5).
The URU copper-silver zone lies along the southern portion of the 80-kilometre-long CESAR North belt. URU appears to be continuous over 12-kilometres, and open in all directions. Samples from the new URU copper discovery have been shipped to ALS preparation laboratory in Medellin and to Lima for assays.
The initial URU discovery (April 8, 2021 NR) reported sixteen rock chip channel samples returning of over 1% copper extending over a 4-kilometre-long-strike with highlights of 5.7 % copper and 14 g/t silver including:
- 4.3% copper and 8 g/t silver over widths of 10-metres;
- 3.6% copper and 12 g/t silver over widths of 10-metres;
- 3.0% copper and 6 g/t silver over widths of 10-metres.
The URU copper mineralization is hosted in a stockwork within igneous host rock that crosscuts sediment-hosted stratabound mineralization. Observed minerals include chalcocite, native copper, cuprite and copper oxide. The copper mineralization is often associated with the presence of epidote.
"In less than three months the Max field team extended the URU zone to 12-kilometres of strike, which is a testament to their expert field skills. The strike extension remains open in all directions, demonstrating the major-scale potential of URU. We look forward to the new URU copper assay results due late this month," commented Max CEO, Brett Matich.
"Max's in-country team is continuing its field exploration programs through to end of year," he continued.
"CESAR provides Max shareholders significant copper exposure, the key metal for the "green revolution's move to electric vehicles, solar, wind and clean power grid infrastructure. In addition, copper's declining reserve base requires major copper discoveries to replace depleting reserves," he concluded.
Figure 1. New URU copper discovery
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New URU copper discovery video
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Figure 2. CESAR Copper-Silver Project
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Figure 3. CESAR North, URU discoveries and locations
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Figure 4. URU Discovery cross-section
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Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar Basin to be analogous to both the Central African Copper Belt (CABC) and the Polish Kupferschiefer. Almost 50 percent of the copper known to exist in sediment-hosted deposits is contained in the CACB, including Ivanhoe Mines Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula copper deposits in the Congo.
Kupferschiefer, is the world's largest silver producer and Europes largest copper source, mining an orebody 0.5 to 5.5-metres thick at depths of 500m. The silver yield is almost twice the production of the world's second largest silver mine.
Source: Central African Belt Descriptive models, grade-tonnage relations, and databases for the assessment of sediment-hosted copper deposits with emphasis on deposits in the Central Africa Copperbelt, Democratic Republic of the Congo and Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper mineralization of the Central African Copper Belt and the Polish Kupferschiefer are not necessarily indicative of similar mineralization at CESAR.
CESAR COPPER-SILVER PROJECT IN COLOMBIA - OVERVIEW
CESAR, is located along the 200-kilometre-long Cesar Basin in North Eastern Colombia encompassing widespread highly prospective copper-silver mineralization.
This region enjoys major infrastructure resulting from oil & gas and mining operations, including Cerrejon, the largest coal mine in South America, now held by global miner Glencore (refer to Figure 5).
Figure 5. CESAR Project location
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Due to the regional-scale and prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:
Advanced Drill Core Analysis and Modelling: ongoing analysis of historical drill holes and seismic sections 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 studies 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;
Geophysical: Fathom Geophysics is interpreting seismic data, funded by the Company in collaboration with one of the world's leading copper producer;
Proprietary Field Exploration & Techniques: Max's in-country exploration teams continue to identify new stratabound copper-silver mineralized zones;
● CESAR North 80-kilomtre-long-copper-silver zone (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 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;
- The CONEJO zone, discovered March 2021, 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
- The URU zone, discovered April 2021, extends over 4-kilometres, and open in all directions, located 30-km south of CONEJO. URU demonstates major-size potential; Sixteen rock chip channel samples returned over 1% copper with assay values up to 5.7 % copper and 14.4 g/t silver including URU results include (June 10, 2021 NR):
- 4.3% copper and 8 g/t silver over widths of 10-metres;
- 3.6% copper and 12 g/t silver over widths of 10-metres;
- 3.0% copper and 6 g/t silver over widths of 10-metres;
- 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;
- Exploration continues on CONEJO and the URU zone;
- In addition, Max has initiated the process of mineral claim approvals and drill permiting;
- CESAR West: Max has identified copper porphyry mineralization along a significant 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 and precious metals exploration company, engaged in advancing both newly discovered global scale CESAR copper-silver project (100% owned) in Colombia and the newly acquired RT Gold project (100% earn-in) in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both startbound-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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TSX Venture 50™ for 2021 video: MAX Resource Corp. (TSXV: MXR) - 2021 TSX Venture 50 - YouTube
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Max Resource Corp.
Tim McNulty
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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 "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 those 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 Company'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
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