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Max Resource Files NI 43-101 Technical Report For Its RT Gold Project, Peru

June 29, 2023
281

Max Resource Corp.

TSX.V: MXR | OTC: MXROF | Frankfurt: M1D2

Max Resource Corp. announce the filing of a technical report for its RT Gold Project, located 760-km NNW of Lima in the District of Tabaconas, Department of Cajamarca, Peru. This report, dated March 8, 2023, is titled “RT Gold Project, Cajamarca, Peru” was prepared for Max Resource Corp., by Qualified Person (“QP”) Luis Rodrigo Peralta FAusIMM CP (Geo) in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).  The report can be found on the Company’s website at https://maxresource.com and on SEDAR at www.sedar.com under the Company’s Issuer Profile.

“The RT Gold report validates the true potential of the two distinct gold-bearing systems; the CERRO bulk tonnage porphyry zone, and 3-km NW lies, the TABLON massive sulfide zone,” commented Max CEO, Brett Matich. 

“The new TABLON diamond core assays demonstrate the exceptional near surface high-grade-gold drill results and associated credits of copper, silver and zinc over substantial intervals,” he continued.

“The next step is to conduct an environmental survey in preparation for a drilling program to further expand TABLON and to test the outstanding intrusive target at CERRO which has never been drilled,” he concluded.

Highlight 2021 drill core re-assay results:

Interval

Gold 

Silver 

Copper 

Zinc 

From 

DDH No.

26.5m

10.8 g/t

20.7 g/t

0.12%

0.29%

13.4m

RT-13

26.3m

3.3 g/t

14.9 g/t

0.25%

0.25%

8.2m

RT-6

20.3m

2.2 g/t

4.2 g/t

1.80%

0.29%

9.6m

RT-7

10.5m

4.7 g/t

7.9 g/t

0.09%

0.02%

10.7m

RT-11

8.6m

6.6 g/t 

6.1 g/t

0.05%

0.01%

12.8m

RT-15

4.9m

40.1 g/t

12.8 g/t

0.11%

0.04%

16.2m

RT-16

12.5m

3.5 g/t

5.2 g/t

0.10%

0.04%

39.4m

RT-22

16.4m

3.8 g/t 

5.0 g/t

0.07%

0.04%

34.9m

RT-29

RT Gold sits along the Cajamarca Metallogenic belt, extending north from Central Peru into Southern Ecuador. This prolific belt hosts a number of world class deposits; In Ecuador, the Fruta Del Norte¹ discovery of 15.49Mozs Au, Mirador² with 2.67Mt Cu and 2.74Mozs Au (2008) and the new discovery by Solaris Resources at its Warintzadeposit with 2.7Mt of Cu and 0.93Mozs Au. On the Peruvian side; Newmont’s Yanacocha³ 8.61Mozs gold (refer to Figure 1). 

CERRO hosts several mineralized zones. Soil geochemistry has outlined a 2.0 by 1.5-km gold anomaly, open in all directions with gold values ranging from 0.1 to 4.0 g/t. The soil geochemistry is coincident with IP chargeability. A continuous channel sample across the zone assayed 3.3 g/t gold over a width of 25.5m.

TABLON was drilled in 2001 by Golden Alliance Resources Corp. In February 2021, Max obtained the historic drill core and commenced a re-logging and resampling campaign. The resampling results confirmed thickness and grade of the 2001 historical drill intercepts and reasonably well reproduce the reported grades. 

In addition, the gold-bearing mineralization is associated with highly anomalous silver and copper values. The multi element suite of data will allow Max to examine metal ratios and zoning patterns for target generation and geological interpretation purposes (refer Figures 2 to 4 and Table 1 and 2).

Figure 1. RT Gold location.
Figure 2. CERRO and TABLON gold geochemistry, TABLON drill hole locations.
Figure 3. RT-6 diamond drill core 14.02 to 16.83m.
Figure 4. Re-logging historic 2001 diamond drill core.
Table 1. TABLON comparative table between historical (2001) and Max Resource intercepts (2021).
True widths and orientations are currently unknown.

DDH Number 

UTM E

DATUM PSAD 56

UTM N

Garmin 12 GPS

Elevation (m)

Garmin 12 GPS 

Azimuth

North 360°

Dip

Horizontal 0°

Length Measured 

From collar (m)

RT-1

706462

9418622

1918

355

-45

126.19

RT-2

706448

9418611

1916

355

-45

57.92

RT-3

706479

9418667

1955

340

-45

142.65

RT-4

706436

9418644

1948

147

-75

33.54

RT-6

706436

9418644

1948

127

-75

42.68

RT-7

706436

9418644

1948

115

-66

31.71

RT-11

706434

9418684

1985

310

-45

34.75

RT-12

706434

9418684

1985

310

-65

35.67

RT-13

706434

9418684

1985

280

-45

41.76

RT-14

706434

9418684

1985

280

-65

40.24

RT-15

706434

9418684

1985

344

-50

30.79

RT-16

706410

9418661

1976

310

-45

25.91

RT-21

706384

9418645

1976

-90

24.4

RT-22

706353

9418697

2016

155

-45

69.21

RT-25

706144

9418499

2016

310

-45

39.94

RT-26

706144

9418499

2016

330

-45

33.53

RT-27

706144

9418518

2026

215

-45

45.73

RT-28

706397

9418691

1999

-90

36.28

RT-29

706397

9418691

1999

180

-60

80.80

Table 2. TABLON 2001 summary of drill collars coordinates, azimuth, dip and length measured from collar.

Next Steps

Commencement of the environmental survey which is a requirement for the drilling application.

Max Resource has exclusive rights to earn 100% of the RT Gold Project

On September 16, 2020, Max optioned the RT Gold Project, which consists of two contiguous mineral concessions within the district of Tabaconas, Peru. On November 4, 2021, the option agreement was amended to change the dates of the payment required. 

In accordance with the amended option agreement, Max has the exclusive right to earn a 100% interest, the company must pay the vendors: USD$300,000 on execution of the agreement (paid); USD$300,000 on or before October 20, 2021 (paid); USD$150,000 on or before March 20, 2023 (paid); USD$150,000 on or before March 20, 2024; USD$300,000 on or before March 20, 2025; USD$300,000 on or before March 20, 2026; USD$3,000,000 on or March 20, 2027. Upon acquiring a 100% interest, the vendors will retain a 2.5% net smelter royalty on the commercial production.

Sources:                                                                                                                                                                                                       1. Amended NI43-101 Technical Report Fruta Del Norte Mine Ecuador. By: R.Hochstein, D.El Rassi, J.Cox, N.Lincoln, N.Hemrajani Singh for Lundin Gold Inc. Dated 2023-Mar-29.
2. Technical Report Update on the Copper, Gold, and Silver Resources and Pit Optimizations: Mirador and Mirador Norte Deposits. By: G.Sivertz, S.Ristorcelli, S.Hardy for Corriente Resources Inc. Dated 2006-Nov-30.
3. NI 43‐101 Technical Report for the Warintza Project, Ecuador. By: M.Rossi for Solaris Resources Inc. Dated 2022-Apr-01.
4. Newmont Corporation 2022 Mineral Reserves Release dated 2023-Feb-23.

Qualified Person

The Company’s disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, PGeo (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. (TSXV: MAX) is a mineral exploration company advancing the newly discovered district-scale CESAR copper-silver project. The wholly owned CESAR project sits along the Colombian portion of the world’s largest producing copper belt (Andean belt), with world class infrastructure and the presence of global majors (Glencore and Chevron). 

In addition, Max controls the RT Gold project (100% earn-in) in Peru, encompassing two distinct systems, CERRO a bulk tonnage gold-bearing porphyry zone, and 3-km to the NW, TABLON a gold-bearing massive sulfide zone. Historic drilling in 2001 at TABLON, returned values ranging 3.1 to 118.1 g/t gold over core lengths ranging from 2.2 to 36.0-metres. 

Max is proactive, with the corporate goal of transitioning the CESAR basin towards the mining of copper, the key metal for Colombia’s transition to clean energy. The safety of our people and the communities where we operate is most important. We conduct exploration in a manner which supports protection of ecosystems through responsible environmental stewardship. 

Source: NI 43:101 RT Gold Project by Qualified Person (“QP”) Luis Rodrigo Peralta FAusIMM CP (Geo), 2023.

For more information visit: https://www.maxresource.com/

For additional information contact:                                                         

Tim McNulty
E: info@maxresource.com
T: (604) 290-8100

Rahim Lakha
E. rahim@bluesailcapital.com

Brett Matich
T. (604) 484 1230

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MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR
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