Max Resource Reports 5.8% Copper and 80 g/t Silver at the CESAR Project in Colombia (TSX.V: MXR)

July 14, 2020

Max Resource Corp.

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

Max Resource Corp. has reported a significant assay results from its newly discovered copper-silver stratabound AM-2 horizon, within the AM South zone, at the company’s wholly-owned CESAR project, located 420-km north of Bogota in Colombia.

CESAR target zone location

The new outcrops, highlight panel values of 5.8% copper and 80 g/t silver, have now extended the Kupferschiefer type copper-silver mineralization of the AM-2 horizon over 1.1-kilometres along strike, with the horizon remaining open along strike and down dip. The AM-2 horizon is presently interpreted to be an offset and down dropped equivalent of the AM-1 horizon.

New outcrop panel and composite grab assay results include:

  • 5.8% copper + 80 g/t silver over 7-metres by 1-metre (panel)
  • 5.6% copper + 70 g/t silver over 13-metres by 1-metre (panel)
  • 4.3% copper + 57 g/t silver over 3-metres by 3-metre (panel)
  • 3.6% copper + 48 g/t silver over 7-metres by 1-metre (panel)
  • 3.4% copper + 20 g/t silver over 2-metres (composite grab)
  • 2.3% + 20 g/t silver over 2-metres; (composite grab)
  • 2.1% copper + 8 g/t silver over 2-metres
  • 1.7% copper + 13 g/t silver over 5-metres (composite grab)
  • 1.7% and 13 g/t silver over 2-metres (composite grab)
  • 1.6% copper + 26 g/t silver over 2-metres (composite grab)
  • 1.2% copper + 10 g/t silver over 2-metres (composite grab)

Rock panel and composite grab samples are considered to be representative but cautions investors that individual grab samples can be selective and may not be representative of continuous mineralization.

The company’s in-country field team is now mapping, sampling and confirming the continuity of mineralized horizons within the 4-kilometre by 3-kilometre AM South zone. The cumulative strike length of the open-ended AM South horizons exceeds 5.8-kilometres, suggesting these horizons could be of significant size.

Newly discovered AM-2 outcrop within the AM South Zone

The AM South zone copper-silver mineralization is interpreted to be of stratabound Kupferschiefer type hosted in fine-grained sediments. The principal minerals are chalcocite, a copper sulphide, and copper oxides malachite and azurite.

The Kupferschiefer is Europe’s largest copper mine, with 2018 production of 30 million tonnes grading 1.49% copper and 48.6 g/t silver from a mineralized zone of 0.5 to 5.5-metre thickness. It is also the world’s leading silver producer, yielding 40 million ounces in 2019, almost twice the production of the world’s second largest silver mine (World Silver Survey 2020). Max cautions investors that the use of the Kupferschiefer model does not necessarily indicate the presence of such mineralization at CESAR.

“Our field teams continue to locate stratabound copper-silver mineralization within the key horizon units as they trace these horizons along strike and down dip. We feel more and more confident the Company is on the verge of a significant mineral discovery at CESAR” quoting Max CEO Brett Matich.

“Along with the continuing exploration providing on-going assay results from AM South zone, we eagerly await assay results from the 11-kilometre AM North zone, located 40-kilometres north of the AM South zone, along the targeted stratabound copper-silver mineralized trend. We also look forward to initial results from Fathom Geophysics, our strategic research partners in collaboration with both, AGH Krakow, Poland, one of the world’s leading copper producers, and the National University of Colombia,” he concluded.

CESAR Sediment-Hosted Copper-Silver Project – Overview

The wholly-owned CESAR project in north east Colombia lies along a 120-km sediment-hosted copper-silver belt, that resembles the Kupferschiefer in Poland.

The CESAR region enjoys major infrastructure. Mining operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American.

Important highlights for the CESAR Project:

  • AM North discoveries lie along a broad 11-km continuous zone of copper-silver mineralization. The northern end the open-ended “Herradura Zone” returned values of 24.8% copper + 230 g/t silver from a continuous 4-metre by 1-metre rock chip channel and 10.4% copper + 88 g/t silver from a continuous 1-metre rock chip channel. Two subsequent bulk samples 1.8-km apart returned 10.4% copper + 88g/t silver and 3.5% copper + 29 g/t silver. The newly discovered “Ventana Zone”,11-km to the south, returned highlight outcrop values of 2.70% copper + 4 g/t silver over 2-metres;
  • The AM South zone occurs 40-km SSW of the AM North zone, within the same stratabound copper-silver mineralized trend. The AM South zone extends over an area of 4-km x 3-km, and remain opens laterally. The open-ended mineralized horizons extending over 5.8-km; highlight panel values include: 5.8% copper + 80 g/t silver over 7-metre by 1-metre; 5.6% copper + 70 g/t silver over 13-metre by 1-metre; 4.3% copper + 57 g/t silver over 3-metre by 3-metre; 3.6% copper + 48 g/t silver over 7-metre by 1-metre; 3.5% copper + 26 g/t silver over 10-metre by 2-metre.
  • Structural analysis conducted by Ingeniería Geológica Universidad Nacional de Colombia in Medellín concluded the stratabound copper-silver mineralization at the Herradura Zone forms a continuous mineralized horizon (June 9, 2020);
  • A technical study by Fathom Geophysics in collaboration with one of the world’s leading copper producers is well underway (May 13, 2020);
  • Mineralogy results from the University of Science and Technology (“AGH”) research study are pending. AGH is located in Krakow, Poland has a long history of cooperation with KGHM, the largest copper producer in Europe and the world’s largest silver producer (April 21, 2020);
  • Additional assays are pending for both AM North and AM South; and
  • Active field work has now re-commenced.

Max’s aim is to demonstrate the potential of the CESAR district as a significant copper and silver regional basin.

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 article (news release) on behalf of the Company.

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James Hyland, MiningIR