MAX Resource Reports Presence of Silver-Bearing Copper Sulfides and Native Silver in the AM South Zone at CESAR Project, NE Colombia
Vancouver, August 25, 2020 - Max Resource Corp. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report the presence of silver-bearing copper sulfides and native silver from samples analyzed during the initial stage of the on-going study by the AGH-University of Science and Technology ("AGH") of Krakow, Poland. The presence of these two forms of silver was identified in samples from the AM South zone on the Company's wholly-owned CESAR project, located 420-km north of Bogota, Colombia (Figures 2 and 3).
Sample (425775) from the AM South copper-silver stratabound zone was delivered for mineralogical study to AGH, Poland. The presence of silver-bearing chalcocite and covellite as well as native silver was identified using "Energy Dispersive Spectroscopy" (EDS) analysis (Figure 1).
Silver, after copper, is the most important element in the Kupferschiefer stratabound deposit. At the KGHM Polska Miedź S.A. ("KGHM") Kupferschiefer, silver occurs as native silver, amalgamats of silver-mercury but most commonly in copper sulfides: chalcocite and bornite (The Kupferschiefer Deposits and Prospects in SW Poland: Past, Present and Future, 4. Ore Controls by KGHM, 2019).
The Max technical team continues to build a geological model based on KGHM's Kupferschiefer, Europe's largest copper deposit, with production in 2018 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. The Kupferschiefer deposit 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 as a geological model is not necessarily indicative of mineralization at CESAR.
"The initial study results from AGH are significant as they identified the presence silver-bearing chalcocite and covellite as well as native silver at AM South. Silver is a key component of stratabound copper deposits, so we are extremely pleased with CESAR's silver content. The presence of silver further substantiates a Kupferschiefer type system at CESAR," said Max CEO, Brett Matich.
"Our on-going exploration programs continue to meet Company expectations and support management's belief in the presence of a significant stratabound copper-silver system at CESAR," he continued.
"Energy Dispersive X-Ray Spectroscopy" (EDS) is a chemical microanalysis technique used in conjunction with scanning electron microscopy (SEM). The EDS technique detects x-rays emitted from the sample during bombardment by an electron beam to characterize the elemental composition of the analyzed volume.
Figure 1. Native silver (Ag) and silver-bearing chalcosite (1) from CESAR - (425775)
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Figure 2. Sample (425775) location - AM South Zone
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Figure 3. CESAR Project Location
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CESAR Stratabound Copper-Silver Project - Overview
The wholly-owned CESAR project in north east Colombia lies along a 120-kilometre 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 (Figure 3).
Important highlights and exploration activity on multiple fronts:
- AM North consists of a broad 11-kilometre continuous zone of stratabound copper-silver mineralization and is open in all directions. The copper-silver zone also contains a high-grade area with varying intervals from 0.2 to 3.0-metre grading 4.0 to 34.4% copper + 28 to 305 g/t silver (July 29, 2020). Two 50-kilogram bulk samples extracted from each end of the 1.8-km discovery horizon, returned 10.5% copper +79 g/t silver and 3.5 % copper + 29 g/t silver (May 21, 2020).
- The AM South zone occurs 40-km SSW of the AM North zone, within the same mineralized trend. The copper-silver zone extends over an area of 4-kilometres by 3-kilometres, and remains opens laterally. The cumulative strike length of the open-ended AM South horizons exceeds 5.8-kilometres, returning highlight values of 5.8% copper and 80 g/t silver from 0.1 to 25-metre intervals, suggesting significant size for these horizons (July 14, 2020).
- The Fathom Geophysics initial results from the technical study are expected soon. This study is funded by the Company and one of the world's leading copper producers. These studies focus on mapping stratigraphic features, distinct rock types and alteration-zones, which will assist in highlighting stratabound copper-silver mineral horizons over the CESAR target zone (May 13, 2020);
- Geochemical and mineralogical studies by the AGH-University of Science and Technology ("AGH") of Krakow, Poland are well underway (May 26, 2020). AGH will bring to the CESAR project their extensive knowledge of KGHM's world renowned Kupferschiefer copper-silver deposits in Poland;
- Ongoing structural analysis of the CESAR target zone is being conducted by Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín, with the assistance of the Max field team;
- In respect to the CESAR project, the Company has entered two non-exclusive confidentially agreements; the first with one of the world's leading copper producers (May 13, 2020) and a second with a Global Miner (July 21,2020);
- The in-country exploration team has been continuously conducting field activities.
Our in-country field team is now mapping, sampling and confirming the continuity of the mineralized horizons and expanding the zones of AM North and AM South.
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About Max Resource Corp.
With its successful exploration and management team, Max Resource Corp. is advancing its stratabound Kupferschiefer type copper-silver project in Colombia, that has potential for the delineation of large-scale mineral deposits attractive to 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
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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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