Vancouver’s Max Resource Corp have reported a set of assays from their Cesar copper-silver project, found 420km north of Bogota in North-East Columbia.
The highlights of the results include:
Two grab samples taken from each of 9 sites reported grades ranging from 0.99% to 3.02% copper with all but one sample returning values in excess of 1% copper and eight of the 19 samples exceeding 2% copper
Identified six additional distinct outcrops and four boulder areas bringing the total to 18 distinct areas of copper mineralization within an area of 9 square kilometres open in all directions
Combined with the earlier results reported September 24, 2019, grades ranged from 0.28% to 4.15% copper with 34 of the 43 samples assaying in excess of 1% copper, 15 of the 43 assaying in excess of 2% copper, and 4 of the 43 samples assaying in excess of 3% copper
Silver also appears to be an important constituent with values ranging from 1 to 116 grams per tonne
Whilst positive, Max point out that at this stage, these results are grab samples, and not necessarily representative of the mineralization on the property.
Max also announced that phase two of this exploration program is about to commence, with the key objectives being to establish the strike length, recording the dip and width of the mineralisation, and a review of the multiple mineralised horizons located to date.
Discussing the nature of the mineralization found at Cesar, Max’s CEO, Brett Matich, commented: “We are currently reviewing historic oil and gas drill holes and seismic sections to assist us in predicting the continuity of the mineralized horizons. The Cesar mineralization appears to have formed the same way as the Kupferschiefer copper-silver deposit, so we are utilizing this geological model to assist in exploring a very similar exploration target and to gauge the potential scale.”
North Choco Gold-Copper Project
North Choco is made up of wholly owned mineral applications (250 sq. km), located approximately 80 km SW of Medellin Colombia, encompassing 10 historic gold mines. The recent blind outcrop NW Gold-Copper Discovery (refer 29 October 2019 news release) included 1 metre of 49.8 g/t gold and 4.3% copper which continues under cover in both directions. The target area is also coincident with a Long Wave InfraRed (LWIR) anomaly and with elevated gold-copper soil values. The Company believes there could be sizable amounts of both gold and copper. Future work will focus on mapping and sampling along strike to extend the zone and on locating additional parallel zones.
It’s important to note that AngloGold Ashanti’s 2005 Quebradona gold-copper discovery and IAMGold’s 2010 Caramanta gold-copper discovery are both in a similar geological environment to the NW Gold-Copper Discovery area, located 12 km NE and 6 km W respectively;
- Quebradona hosts a 2014 inferred mineral resource of 604 million tons grading 0.65% copper, 0.32 g/t gold, 4.4 g/t silver and 116 ppm molybdenum representing an inferred 6.1Moz gold & 3.95Mt copper and hosts four additional porphyry centres. Source “Discovery and Geology of the Nuevo Chaquiro Cu-Au (Ag-Mo) Porphyry Deposit” by N. Winer, VP Greenfields Colombia, AngloGold Ashanti and undated;
- Caramanta hosts five porphyry centres and has recorded several drill intersections in excess of 1 g/t gold, including a highlight value of 460.6m at 1.4 g/t gold equivalent. Source “Technical Report on the Caramanta Project, Department of Antioquia, Republic of Colombia by O’Prey, 2014 for Solvista Gold Corporation;
Max cautions investors that results from adjacent and nearby properties are not necessarily representative of the mineralization hosted at North Choco.
Choco Gold Project
The wholly owned Choco Gold project, located approximately 120 km SW of Medellín Colombia, is currently being reduced to approximately 250 sq. km. of mineral applications. These cover or are adjacent to historic production of 605,110 ounces of gold by Choco Pacific Mining (1906 to 1990), and encompass the conglomerate gold discovery, including the most recent concentrate results of sample 001 grading 340.84 g/t gold and 111.03 g/t platinum and sample 002 grading 222.06 g/t gold and 113.83 g/t platinum (see April 16, 2019 News Release). Furthermore, Max has commenced discussions with a potential partner with the prerequisite expertise to assist with the gold bearing conglomerates.
Sample 001 consisted of 26.8 kg of material subsequently panned to a concentrate of 57.99 g which was subsequently assayed and reported. The numbers for sample 002 were 22.8 kg and 39.39 g respectively.
About Max Resource Corp.
Max is a mineral exploration company with an experienced and successful management team focused on advancing the development of its landholdings in the rich mineral belts of Colombia, with significant potential for the discovery of important-scale mineral deposits that can attract major partners.
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/