Max Resource Expands CESAR West by 40-km to 180-km of Strike Length at Its CESAR Copper-Silver Project, NE Colombia
Vancouver, February 17, 2021 - Max Resource Corp. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased report its 100%-owned CESAR Copper-Silver project in North Eastern Colombia has now expanded to a district-scale size of over 2,500 sq. km, covering cumulative 220-km strike of highly prospective copper-silver mineralization.
Highlights:
- The additional 500 sq. km adjoins the CESAR West northern boundary, with newly discovered copper mineralization;
- The CESAR project is adjacent to approximately 20 drill holes not previously analyzed for the presence of copper and covers over 2,000 sq. km of seismic surveys (refer to Figure 1).
"This targeted land expansion was generated from newly-discovered copper showings, rock sampling, structural mapping, interpretation of seismic sections and analysis of historical drill holes, all being integrated into our ongoing structural modelling of the CESAR Basin," commented Max CEO, Brett Matich.
"Currently the Max field teams are exploring high priority targets at both CESAR West and CESAR North. We have tremendous confidence in the ability and tenacity of our exploration team to leverage our proprietary exploration knowledge to deliver the next great copper discovery," he concluded.
Figure 1. CESAR West, 180-km of prospective copper-silver mineralization.
https://www.maxresource.com/images/news/MXR_EN_2021-02-16_Fig1.jpg
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3834/74676_4782dcbe34317b9b_001full.jpg
Max believes that the stratabound copper-silver system in the Cesar Basin is 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 cumulatively covers a major portion of the Cesar Basin, reaching 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 regional-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: 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 interpreting geophysical data from programs 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:
- CESAR North: in 2020, the Max team identified stratabound copper-silver mineralization 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;
- CESAR West: Max is currently sampling and mapping Jurassic host rock and for already identified copper-silver mineralization along this new continuous 180-kilometre-long landholding;
- CESAR South: 15-km-long recently discovered zone, highlight grab sample values of 11.4% copper + 656g/t silver.
ABOUT MAX RESOURCE CORP.
Max Resource Corp. is advancing both its stratabound 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; sediment hosted copper-silver deposit in Colombia and gold porphyry and massive sulfide deposit in Peru.
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
E: info@maxresource.com
T: (604) 290-8100
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 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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