Max
Resource Reports New
Copper
Discovery
at CESAR
North, NE Colombia
Vancouver
B.C., March 3,
2021 – MAX RESOURCE CORP. ("Max" or the "Company") (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased
to
announce the
"CONEJO discovery", a new type of copper mineralization hosted
in igneous rock, at CESAR North within
the wholly-owned CESAR copper-silver project in North Eastern
Colombia (refer to Figure 2 and 3).
The CONEJO
zone spans 1.6-km by 0.6-km, is open in
all directions, and lies along the CESAR North Kupferschiefer-type (SEDEX)
copper-silver mineralization.
This new
mineralization is considered to be related
to the
sediment copper-silver
system,
but hosted in an
igneous (volcanic) unit. It is associated with
fracture-controlled
primary chalcocite mineralization that becomes more continuous as
fracture density increases (refer to
Figure 1 and 4).
"This discovery of a new type of copper mineralization
hosted in igneous
host rock, significantly enhances the
Company's steadfast belief of CESAR as district
scale with
several pulses of mineralization," commented Max CEO, Brett
Matich. "
"CESAR provides Max
significant exposure to copper, a critical energy metal
and a key metal
for the world's transition to clean green
energy."
he concluded.
Over 200 rock samples have
been sent to ALS, assay results are expected early
April.
The Max in-country team
continues mapping of CONEJO to determine structural controls
and extent of the
footprint of this new mineralized
zone. In
addition,
the Company will initiate a
ground
Induced
Polarization (IP) survey.
Figure
1. Fracture
controlled copper mineralization hosted in
igneous host rock at CONEJO.
Figure
2. CESAR
Copper-Silver Project.
Figure
3. The CONEJO sample
locations.
Figure
4. CONEJO discovery outcrop.
Max interprets the
stratabound copper-silver (SEDEX) mineralization in 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
The CESAR project in North
Eastern Colombia consists of over 2,500 km² cumulatively covering a
major portion of the newly discovered CESAR district,
and
extends over 220-km of 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 1).
Given the outstanding
district-scale prospectively of the CESAR Copper-Silver project,
Max has initiated a multiple faceted exploration program for
2021:
Advanced
Drill Core Analysis and Modelling: ongoing interpretation of
seismic sections and analysis of historical drill holes, 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);
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 exploration team are
bringing proprietary exploration knowledge to the field programs
that are now underway:
-
In
2020, Max identified stratabound copper-silver
mineralization (SEDEX)
spanning
over 45 sq. km, with highlight values of 0.1 to 34.4% copper and 5
to 305 g/t silver over continuous intervals ranging 0.1 to
25.0-metres; The Max team is exploring this 40-km long
belt;
-
In
2021, Max
discovered fracture-controlled
copper mineralization hosted in igneous host over
1.6-km
by
0.6-km (CONEJO
zone), open in
all directions, and lies
along the CESAR North Kupferschiefer-type (SEDEX) copper-silver
mineralization;
-
CESAR
West: Max has initiated
sampling and
mapping the continuous 180-kilometre-long
landholding with already discovered
copper-silver mineralization;
-
CESAR
South: Recent 15-km discovered zone, highlight grab sample
values of 11.4% copper + 656g/t silver.
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
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 SEDEX and copper-silver-type
in
Colombia; 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/
For more information
visit:
www.tsx.com/venture50
TSX Venture 50™ for 2021
video:
MAX Resource Corp. (TSXV: MXR) - 2021 TSX Venture 50 -
YouTube
For additional information
contact:
Max Resource Corp.
Tim McNulty
E:
info@maxresource.com
T: (604) 290-8100
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Venture 50 ranking is provided by TSX Venture Exchange Inc.
("TSXV") for information purposes only. Neither TMX Group
Limited nor any of its affiliated companies guarantees the
completeness of this information, and are not responsible for any
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is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release
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
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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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