Max Resource Reports "AM North" Discoveries with Values of 10.4% Copper + 88 g/t Silver at the CESAR Project, Colombia
Vancouver, February 27, 2020 - Max Resource Corp. (TSXV: MXR) (OTC: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report two significant stratabound discoveries at "AM North". Initial results from AMN-1returned 10.4% copper + 88 g/t silver from a 1-metre continuous rock chip sample. Assays are pending for AMN-2, a second discovery located 1.8-km westerly of AMN-1. Both zones dip 20 degrees NW, on the CESAR copper + silver project, approximately 420-km north of Bogota, Colombia (refer to Figures 1 & 2).
The CESAR style of mineralization appears to be similar to a large sub-horizontal sheet, with the edges partly exposed. Because of the extensive surface exposure, Max is using rock chip sampling to identify structures, continuity of thickness, and length of strike to determine potential size, prior to drilling. The two discoveries:
- AM North, which is located 35-km north of AM South, share the same mineralized trend;
- Furthermore, the stratabound copper + silver mineralization at AM North and AM South are hosted in a well bedded sandstone-siltstone similar to Kupferschiefer in Poland.
Max cautions investors the copper + silver mineralization at Kupferschiefer is not necessarily indicative of similar mineralization at Cesar.
"The high-grade AM North discovery supports our model of a significant, large-scale stratabound copper + silver system, stretching over 35-kilometers from AM North to AM South," commented Brett Matich, CEO of Max. "We eagerly await initial assay results from AMN-2 and follow-up assays to the extensive AM South."
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CESAR Copper + Silver Project
The wholly owned CESAR Project is located in north east Colombia within Jurassic sediments and volcaniclastics that extend the length of northern South America and host significant stratabound copper + silver mineralization also in both Ecuador and Peru.
It lies along a historic 120-km copper-belt within an oil-gas and coal mining district. The region has extensive infrastructure, major oil-gas and coal operations, ports, townships, railways and roadways.
Considering the first pass exploration at CESAR commenced in mid-November 2019, the Company has enjoyed considerable success. Max's exploration strategy is to unlock the potential of the CESAR district as an up and coming world class copper and silver producing region.
PGE Americas Metals Corp
Max recently established "PGE Americas Metals Corp." as a wholly-owned subsidiary, to hold its PGE Choco Project. This is the first step towards building a portfolio of PGE assets with a targeted focus on palladium, platinum and rhodium. The corporate intent is to unlock this value in an accelerated and timely manner (refer news release February 25, 2020).
The PGE Choco project is located 120-km SW of Medellin Colombia, within a district with historical platinum production of one million ounces (1906-1990) by Choco Pacific Mining. Compilation of historical records revealed the potential for related PGE's particularly palladium and rhodium. In addition, recent field work in 2019 by Max resulted in highlight concentrate values of 114 g/t platinum from a field program in 2019 (refer news release April 16, 2019). Colombia was the world's main source of platinum until 1820 and was world's largest producer between 1917 and 1923. Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condo to Platinum NL.
North Choco Gold and Copper Project
North Choco consists of wholly owned mineral applications, located approximately 80-km SW of Medellin, Colombia. The NW Gold-Copper Discovery (refer to 29 October 2019 news release) outcrop reported 1-metre of 49.8 g/t gold and 4.3% copper, continuing under cover in both directions. Future work will focus on mapping and sampling along strike to extend the zone and on locating additional parallel zones. Max is assessing Joint Venture opportunities.
Quality Assurance
The rock chip samples were shipped to ALS Lab's sample preparation facility in Medellin, Columbia. Sample pulps are sent to Lima, Peru for analysis. All samples were analyzed using ALS procedure ME-MS41, a four-acid digestion with ICP finished. Over limit copper and silver were determined by ALS procedure OG-62, a four-acid digestion with an AAS finish. ALS Labs is independent from Max. Max is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.
About Max Resource Corp.
Max is a mineral exploration company with an experienced and successful management team focused on advancing the development of its copper, silver and precious metals landholdings in the rich mineral belts of Colombia, with potential for the discovery of large-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/
For additional information contact:
Max Resource Corp.
Tim McNulty
E: info@maxresource.com
T: (604) 290-8100
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
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