Max Resource reports strong gold and copper results – talks of expanding exploration

12 June 2019

Max Resource Corp.


80.44 g/t Gold, 1.82% Copper and 264 pmm Cobalt over 0.3 m sampled at North Choco, Colombia

Vancouver’s Max Resource Corp. has reported further assay results from their exploration program at their North Choco gold-copper project 80 km SW of Medellin, Colombia. Max is in the process of acquiring North Choco, through the pending acquisition of Andagueda Mining Pty. Ltd.

Max Resource CEO, Brett Matich, said that in addition to the gold and copper results, notable levels of cobalt were also picked up. Additionally, while some of the samples came from areas of known mineralization, others came from bedrock samples well removed from these areas, which is positive sign for future expansion: “Our strategy is to expand our exploration efforts in all directions within the 500 sq. km land package” commented Matich.

Highlights of the latest round of sampling include:

• Five of twenty-three chip samples returned grades ranging from 1.58 g/t gold to 80.44 g/t gold;

• The 80.44 g/t gold sample included a copper value of 1.82% and 264 ppm cobalt and, most importantly, came from an area of mineralized granodiorite;

• The chip samples were taken over various widths from 2 locations within a 400 metre by 700 metre exploration area centred on the historic gold mines; and

• All samples lie within the 37.5 sq. km anomalous exploration area.

Details for the five samples can be seen in the table below.

About North Choco Gold-Copper and Choco Gold-Platinum

North Choco Gold-Copper (500 sq. km) is located 80 km SW of Medellin, is contiguous to properties held by AngloGold Ashanti (NYSE: AU) and Continental Gold (TSX: CNL) and includes rights to exploration and exploitation over a 72.5 sq. km mining area.

North Choco is 47 km SW of AngloGold’s 2005 Nuevo Chaquiro copper porphyry discovery, hosting an inferred resource of 604Mt at 0.65% copper and 0.32g/t gold with a contained metal content of 4 million tons of copper and 6 million ounces of gold. This is one of five known porphyry centres within a 15 sq. km area.The Nuevo Chaquiro Resource is disclosed in the AngloGold presentation “Discovery and Geology of the Nuevo Chaquiro Cu-Au (Ag-Mo) Porphyry Deposit”. 

Max cautions investors that results from adjacent and nearby properties are not necessarily representative of the mineralization hosted at North Choco.

AngloGold Ashanti examined the North Choco area for porphyry copper in 2005, locating porphyry copper prospects and anomalies. AngloGold was unable to follow up and the area has sat idle until Andagueda Mining completed its historic agreement earlier this year.

Max’s Choco Gold-Platinum Property (2,140 sq. km) is located adjacent to and SW of North Choco Gold-Copper and covers or is adjacent to historic production of 1.5 million ounces of gold and 1.0 million ounces of platinum. Free gold was observed from hard-rock conglomerates taken from surface in February of 2019. A follow up Long Wave InfraRed (LWIR) survey identified multiple conglomerate zones spread over a 1,000 sq. km area. Test work is continuing on accessing the fine gold within the conglomerates and the second phase exploration program has now commenced. 

About Max Resource Corp.

Max is a mineral exploration company focused on the development and expanding its landholdings in the rich Choco mineral belt of Colombia. The Company has established significant exploration infrastructure and local community support for the Choco Gold-Platinum project, located 100 km south of Medellin, which covers, or is adjacent to, historic production of 1.5 million ounces of gold and 1.0 million ounces of platinum. The North Choco Gold-Copper project lies adjacent to the Choco Gold-Platinum project. The Gachala copper project is located 60 km east of Bogota. The Company is led by a seasoned management team with a record of significant discovery and exploration success.

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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