Max Resource ‘very pleased’ with first round of exploration results

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    Max Resource Corp North Choco Copper Gold Colombia

    Vancouver-based Max Resource Corp, an exploration company focussed on gold, platinum and copper projects in Colombia, has reported positive first assays from their current 10-week exploration program at their North Choco copper gold project. North Choco is approximately 80 km south west of Medellin, Max is acquiring the project through the planned acquisition of Andagueda Mining.

    New to this company? Read our previous articles about Max Resource Corp.

    Highlights from the results include:

    • Seven of 23 chip samples returned grades ranging from 155.27g/t gold to 2.94g/t gold;
    • Three of the 7 samples returned values of >10,000 ppm copper, in excess of the upper detection limit, and will need to be reanalyzed to determine the final grade;
    • The chip samples were taken over various widths from 4 locations within a 400 metre by 700 metre exploration area centred on the historic gold mines;
    • Max is three weeks into the 10-week North Choco exploration program and further results will be released after receipt and interpretation.

    Brett Matich, Max’s CEO, commented on the results: “The assay results are delivering significant grades of gold and we expect the copper re-assay results very soon.”

    Speaking about the next steps for Max, Matich said: “Our strategy is to expand our exploration efforts in all directions within the 500 sq. km land package.”

    Details for the seven samples are listed below:

    More about the North Choco Gold-Copper and Choco Gold-Platinum projects

    North Choco Gold-Copper (500 sq. km) is located 80 km SW of Medellin and 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 4Mt of copper and 6Moz of gold. This is one of five known porphyry centres within a 15 sq. km area.
    Max cautions investors mineralization on the Nuevo Chaquiro property is not necessarily indicative of similar mineralization on North Choco. The Nuevo Chaquiro Resource is disclosed in the AngloGold presentation “Discovery and Geology of the Nuevo Chaquiro Cu-Au (Ag-Mo) Porphyry Deposit”.

    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 and covers or is adjacent to historic production of 1.5Mozs gold and 1.0Mozs 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.

    About Max Resource Corp.

    Max is a mineral exploration company focused on the development and acquisition of prospective projects in the rich mineral belts of Colombia. The company has established significant exploration infrastructure and local community support for the Choco gold and platinum project, located 100 kilometres south of Medellin, which covers, or is adjacent to, historic production of 1.5 million ounces of gold and one million ounces of platinum. The company’s Gachala copper project is located 60 kilometres east of Bogota. The company is led by a seasoned management team with a record of significant discovery and exploration success.For more information visit: https://www.maxresource.com/and follow Max Resource Corp on Twitter @MaxResourceCorp

    Disclaimer
    MiningIR host 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.

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