Max Resources Corp. reports on the newly acquired CESAR West, encompassing approximately 2,000 square kilometres of highly prospective areas for copper-silver mineralization, at the Company’s wholly owned CESAR project, North Eastern Colombia (refer to Figure 1).
“CESAR West was identified through surface structural mapping, interpretation of available seismic sections and drill core review. The Max in-country field crew have commenced sampling and mapping for Jurassic host rock and copper-silver mineralization along this new continuous 140-kilometre-long landholding,” commented Max CEO, Brett Matich.
“Max has achieved a major milestone, expanding its landholdings in the CESAR Basin by over 300%. The newly discovered area lies along the central-western part of the CESAR Basin, and, together with the recent copper discovery at depth, supports the regional scale potential of the CESAR project,” he concluded.
Max believes that the stratabound mineralized 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 covers the major portion of over 200-km long Cesar Basin with identified statabound sediment-hosted 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).
Max has entered into three non-exclusive confidentiality agreements regarding the CESAR project: one with one of the world’s leading copper producers; a second with a global mining company and a third with a mid-tier copper explorer.
The exploration priorities for the CESAR project are: regional geochemical sampling, structural modelling interpretation of seismic data, analysis of oil & gas drill cores and expansion of landholdings.
Max has initiated its fully funded 2021exploration campaign:
Regional Mapping: sampling and mapping for Jurassic host rock and copper-silver mineralization along this new continuous 140-kilometre-long landholding;
Advanced Analysis of Drill Core: XRF analysis of core from historic drilling of the Cesar Basin to identify the presence of copper at depth (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 funded by the Company in collaboration with one of the world’s leading copper producers;
Structural Modelling: drill core and seismic analysis is being conducted by Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”) in Medellín, and the Max team.
CESAR WEST ACQUISTION
The Company has secured 20 mineral applications from an arm’s-length vendor by agreeing to pay USD $175,000. The Vendor retains a 3% NSR with the Company having the exclusive right to purchase 100% of the 3% NSR for USD $4,000,000, any time prior to production.
For more information visit: https://www.maxresource.com/