Max Resource Assays 3.3% Copper
Over 15 Metres at the CONEJO Zone, CESAR North, NE
Vancouver B.C., October 19, 2021 –
InvestorsHub NewsWire -- MAX RESOURCE CORP. ("Max" or the
"Company") (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is
pleased to report new assay results from a reconnaissance sampling
program have further expanded the CONEJO zone, along the CESAR
North 90-km-long belt, Max's wholly-owned CESAR project in NE
Colombia (refer to Figure 1).
3.3% copper and 5 g/t silver outcrop over 15.0m
2.8% copper and 13 g/t silver outcrop over 20.0m
1.1% copper and 1 g/t silver outcrop over 15.0m
4.4% copper and 54 g/t silver outcrop over 1.5m
The new results are significant as they extend the high-grade
CONEJO zone further south with reconnaissance rock sample values up
to 3.3% copper and 54 g/t silver. The CONEJO zone which lies along
the mid portion of the 90-kilometre-long CESAR North copper-silver
belt, now spans 3.2-km by 1.9-km and still remains open in all
To date, 44 rock samples returned values over 3.0% copper, 55
returned over 2.0% copper, 21 returned over 30 g/t silver, with
intervals ranging from 0.3 to 20.0m. Highlight rock sample values
were 12.5% copper and 120 g/t silver (refer to Figure
The CONEJO mineralization occurs both as a stockwork of
crosscutting 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 Figures 3 and 4).
"The CONEJO continues to develop to the point where Max is
considering it as a significant stand-alone copper project,"
commented Max CEO, Brett Matich.
"We look forward to assay results from the CONEJO high-grade
zone, expected shortly. Concurrently, the Max technical team has
commenced a targeted exploration program over the 48-km² URU zone,
as well as prospect the favourable horizons further into the CESAR
basin," he continued.
"The price of copper continues to rise, reaching an all-time
high of $4.79 per pound this week, driven by the insatiable demands
of the green revolution and the ever-depleting copper reserve base.
Max shareholders are well positioned to take advantage, with
significant potential for district scale discoveries throughout the
CESAR basin," he concluded.
1. CESAR North - CONEJO
2. CONEJO 3.2-km by 1.9-km
3. 2.8% copper and 13 g/t silver
widths of 20.0m (876823).
4. Sample rock
Visible mineralization reports the presence of chalcocite,
native copper and copper oxides. Two types of mineral events have
been observed:one type is hosted in a stockwork within igneous host
rock and is associated with the presence of epidote, and the second
type is sediment-hosted stratiform copper silver mineralization of
Kupferschiefer. The stratiform type is cross cut by the mineralized
stockwork associated with igneous rocks (refer to Figure
Max interprets the sediment-hosted stratabound copper-silver
mineralization in the Cesar basin to be analogous to both the
Central African Copper Belt (CACB) in the south and the Polish
Kupferschiefer in the north. Almost 50% 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 deposit in the Congo.
Kupferschiefer, the world's largest silver producer and
Europe's largest copper source, is a mining orebody ranging from
0.5 to 5.5m thick, at depths of 500m, with grades of 1.49% copper
and 48.6 g/t silver. The silver yield is almost twice the
production of the world's second largest silver
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.
1.5m – Chip Channel
15.0m - Representative
20.0m - Representative
15.0m - Representative
Table 1. Rock assay
results that returned over 1.0% copper and silver. Max cautions
investors that panel and representative grab sampling can be
selective and are not necessarily representative of the
All CESAR rock chip samples are shipped to ALS Lab's sample
preparation facility in Medellin, Columbia. Sample pulps are then
sent to Lima, Peru, for analysis. All samples are analyzed using
ALS procedure ME-MS41, a four-acid digestion with inductively
coupled plasma finished. Over-limit copper and silver are
determined by ALS procedure OG-62, a four-acid digestion with an
atomic absorption spectroscopy finish. ALS Labs is independent from
Max uses standard chip and channel sampling where possible,
but also relies on composite grab sampling. Max considers composite
grab samples to be representative but cautions investors that
individual grab samples can be selective and may not be
representative of continuous mineralization at CESAR.
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.
COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW
CESAR lies along the copper-silver rich 200-kilometre-long
Cesar Basin in northeastern Colombia. This region enjoys major
infrastructure resulting from oil & gas and mining operations,
including Cerrejon, the largest coal mine in Latin America, now
held by global miner Glencore (refer to Figure 4).
5. CESAR Project
Due to the district-scale and 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
Geochemical and Mineralogical:
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.
Geophysical: Fathom Geophysics is
interpreting seismic data, funded by the Company in collaboration
with one of the world's leading copper producers.
Proprietary Field Exploration
& Techniques: Max's in-country exploration teams continue to
target new copper-silver stratabound mineralized zones.
In 2020, Max discovered both the copper-silver rich AMS
(previously named AM South) zone and the AMN (previously named AM
North) zone 40-km north, collectively spanning over 45-km².
Highlight values of 1.0 to 34.4% copper and 5 to 305 g/t silver.
Intervals range 0.5 to 25.0m;
In March 2021, Max announced the CONEJO discovery, now
spanning 3.2-km by 1.9-km and open in all directions. CONEJO
returned values greater than 5.0% copper from 23 rock panels
varying from 5.0m by 5.0m to 1.0m by 1.0m. In addition, 66 rock
panel samples returned values over 1.0% copper (March 24, 2021
12.5% copper + 84 g/t silver over 5.0m by 5.0m
10.5% copper + 50 g/t silver over 3.0m by 2.0 m
10.4% copper + 95 g/t silver over 5.0m by 5.0m
10.2% copper + 62 g/t silver over 5.0m by 5.0m
10.0% copper + 80 g/t silver over 5.0m by 5.0m
8.7% copper + 89 g/t silver over 5.0m by 5.0m
8.4% copper + 60 g/t silver over 5.0m by
7.9% copper + 21 g/t silver over 5.0m by
7.7% copper + 84 g/t silver over 5.0m by
7.4% copper + 47 g/t silver over 5.0m by 5.0m
The 2021 URU discovery, located 30-km south of CONEJO, has
been expanded to 48-km² is and open in all directions. URU appears
to have major-scale potential with highlight assay
values of 0.5 to 14.8% copper and 5 to 132 g/t silver. Widths range
1.0 to 10.0m (June 10, and
October 7, 2021 NR):
14.8% copper and 132 g/t silver outcrop over 1.5m x
6.5% copper and 6 g/t silver outcrop over widths of
5.6% copper and 87 g/t silver outcrop over 1.0m by
4.3% copper and 8 g/t silver outcrop over widths of
3.9% copper and 7 g/t silver outcrop over widths of
3.6% copper and 12 g/t silver outcrop over widths of
3.0% copper and 6 g/t silver outcrop over widths of
3.0% copper and 37 g/t silver outcrop over widths of
By late April 2021, MAX had identified five copper
discoveries at CESAR North 80-km belt: URU, CONEJO, SP, AMN and
The new SP target reconnaissance composite grab sampling over
a 25.0m outcrop averaging 4.8% copper and 51 g/t silver is
considered very significant (September 7, 2021 NR);
Exploration continues on the CONEJO and URU zones;
Max has initiated the process of mineral claim approvals and
CESAR West: Max has identified
copper porphyry-style mineralization.
Max Resource Corp. is a copper and precious metals
exploration company, engaged in advancing both the newly discovered
district-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 stratabound-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
For more information visit:
For more information visit:
TSX Venture 50™ for 2021
Resource Corp. (TSXV: MXR) - 2021 TSX Venture 50 -
For additional information contact:
Max Resource Corp.
T: (604) 290-8100
*The 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 errors or omissions in
or any use of, or reliance on, this information. The Venture 50
program is not an invitation to purchase securities listed on TSX
Venture Exchange. TSXV and its affiliates do not endorse or
recommend any of the referenced securities or issuers, and this
information should not be construed as providing any trading,
legal, accounting, tax, investment, business, financial or other
advice and should not be relied on for such purposes"
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term 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
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.
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
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
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