Max Resource Files NI 43-101 Technical Report for Its RT Gold Project, Peru
Vancouver, June 29, 2023 - Max Resource Corp. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to announce the filing of a technical report for its RT Gold Project, located 760-km NNW of Lima in the District of Tabaconas, Department of Cajamarca, Peru. This report, dated March 8, 2023, is titled "RT Gold Project, Cajamarca, Peru" was prepared for Max Resource Corp., by Qualified Person ("QP") Luis Rodrigo Peralta FAusIMM CP (Geo) in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The report can be found on the Company's website at https://maxresource.com and on SEDAR at www.sedar.com under the Company's Issuer Profile.
"The RT Gold report validates the true potential of the two distinct gold-bearing systems; the CERRO bulk tonnage porphyry zone, and 3-km NW lies, the TABLON massive sulfide zone," commented Max CEO, Brett Matich.
"The new TABLON diamond core assays demonstrate the exceptional near surface high-grade-gold drill results and associated credits of copper, silver and zinc over substantial intervals," he continued.
"The next step is to conduct an environmental survey in preparation for a drilling program to further expand TABLON and to test the outstanding intrusive target at CERRO which has never been drilled," he concluded.
Highlight 2021 drill core re-assay results:
| Interval | Gold | Silver | Copper | Zinc | From | DDH No. |
| 26.5m | 10.8 g/t | 20.7 g/t | 0.12% | 0.29% | 13.4m | RT-13 |
| 26.3m | 3.3 g/t | 14.9 g/t | 0.25% | 0.25% | 8.2m | RT-6 |
| 20.3m | 2.2 g/t | 4.2 g/t | 1.80% | 0.29% | 9.6m | RT-7 |
| 10.5m | 4.7 g/t | 7.9 g/t | 0.09% | 0.02% | 10.7m | RT-11 |
| 8.6m | 6.6 g/t | 6.1 g/t | 0.05% | 0.01% | 12.8m | RT-15 |
| 4.9m | 40.1 g/t | 12.8 g/t | 0.11% | 0.04% | 16.2m | RT-16 |
| 12.5m | 3.5 g/t | 5.2 g/t | 0.10% | 0.04% | 39.4m | RT-22 |
| 16.4m | 3.8 g/t | 5.0 g/t | 0.07% | 0.04% | 34.9m | RT-29 |
RT Gold sits along the Cajamarca Metallogenic belt, extending north from Central Peru into Southern Ecuador. This prolific belt hosts a number of world class deposits; In Ecuador, the Fruta Del Norte¹ discovery of 15.49Mozs Au, Mirador² with 2.67Mt Cu and 2.74Mozs Au (2008) and the new discovery by Solaris Resources at its Warintza4 deposit with 2.7Mt of Cu and 0.93Mozs Au. On the Peruvian side; Newmont's Yanacocha³ 8.61Mozs gold (refer to Figure 1).
CERRO hosts several mineralized zones. Soil geochemistry has outlined a 2.0 by 1.5-km gold anomaly, open in all directions with gold values ranging from 0.1 to 4.0 g/t. The soil geochemistry is coincident with IP chargeability. A continuous channel sample across the zone assayed 3.3 g/t gold over a width of 25.5m.
TABLON was drilled in 2001 by Golden Alliance Resources Corp. In February 2021, Max obtained the historic drill core and commenced a re-logging and resampling campaign. The resampling results confirmed thickness and grade of the 2001 historical drill intercepts and reasonably well reproduce the reported grades.
In addition, the gold-bearing mineralization is associated with highly anomalous silver and copper values. The multi element suite of data will allow Max to examine metal ratios and zoning patterns for target generation and geological interpretation purposes (refer Figures 2 to 4 and Table 1 and 2).
Figure 1. RT Gold location.
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Figure 2. CERRO and TABLON gold geochemistry, TABLON drill hole locations.
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Figure 3. RT-6 diamond drill core 14.02 to 16.83m.
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Figure 4. Re-logging historic 2001 diamond drill core.
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Table 1. TABLON comparative table between historical (2001) and Max Resource intercepts (2021). True widths and orientations are currently unknown.
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| DDH Number | UTM E DATUM PSAD 56 | UTM N Garmin 12 GPS | Elevation (m) Garmin 12 GPS | Azimuth North 360° | Dip Horizontal 0° | Length Measured From collar (m) |
| RT-1 | 706462 | 9418622 | 1918 | 355 | -45 | 126.19 |
| RT-2 | 706448 | 9418611 | 1916 | 355 | -45 | 57.92 |
| RT-3 | 706479 | 9418667 | 1955 | 340 | -45 | 142.65 |
| RT-4 | 706436 | 9418644 | 1948 | 147 | -75 | 33.54 |
| RT-6 | 706436 | 9418644 | 1948 | 127 | -75 | 42.68 |
| RT-7 | 706436 | 9418644 | 1948 | 115 | -66 | 31.71 |
| RT-11 | 706434 | 9418684 | 1985 | 310 | -45 | 34.75 |
| RT-12 | 706434 | 9418684 | 1985 | 310 | -65 | 35.67 |
| RT-13 | 706434 | 9418684 | 1985 | 280 | -45 | 41.76 |
| RT-14 | 706434 | 9418684 | 1985 | 280 | -65 | 40.24 |
| RT-15 | 706434 | 9418684 | 1985 | 344 | -50 | 30.79 |
| RT-16 | 706410 | 9418661 | 1976 | 310 | -45 | 25.91 |
| RT-21 | 706384 | 9418645 | 1976 | - | -90 | 24.4 |
| RT-22 | 706353 | 9418697 | 2016 | 155 | -45 | 69.21 |
| RT-25 | 706144 | 9418499 | 2016 | 310 | -45 | 39.94 |
| RT-26 | 706144 | 9418499 | 2016 | 330 | -45 | 33.53 |
| RT-27 | 706144 | 9418518 | 2026 | 215 | -45 | 45.73 |
| RT-28 | 706397 | 9418691 | 1999 | - | -90 | 36.28 |
| RT-29 | 706397 | 9418691 | 1999 | 180 | -60 | 80.80 |
Table 2. TABLON 2001 summary of drill collars coordinates, azimuth, dip and length measured from collar.
Next Steps
Commencement of the environmental survey which is a requirement for the drilling application.
Max Resource has exclusive rights to earn 100% of the RT Gold Project
On September 16, 2020, Max optioned the RT Gold Project, which consists of two contiguous mineral concessions within the district of Tabaconas, Peru. On November 4, 2021, the option agreement was amended to change the dates of the payment required.
In accordance with the amended option agreement, Max has the exclusive right to earn a 100% interest, the company must pay the vendors: USD$300,000 on execution of the agreement (paid); USD$300,000 on or before October 20, 2021 (paid); USD$150,000 on or before March 20, 2023 (paid); USD$150,000 on or before March 20, 2024; USD$300,000 on or before March 20, 2025; USD$300,000 on or before March 20, 2026; USD$3,000,000 on or March 20, 2027. Upon acquiring a 100% interest, the vendors will retain a 2.5% net smelter royalty on the commercial production.
Sources:
1.Amended NI43-101 Technical Report Fruta Del Norte Mine Ecuador. By: R.Hochstein, D.El Rassi, J.Cox, N.Lincoln, N.Hemrajani Singh for Lundin Gold Inc. Dated 2023-Mar-29.
2. Technical Report Update on the Copper, Gold, and Silver Resources and Pit Optimizations: Mirador and Mirador Norte Deposits. By: G.Sivertz, S.Ristorcelli, S.Hardy for Corriente Resources Inc. Dated 2006-Nov-30.
3. NI 43‐101 Technical Report for the Warintza Project, Ecuador. By: M.Rossi for Solaris Resources Inc. Dated 2022-Apr-01.
4. Newmont Corporation 2022 Mineral Reserves Release dated 2023-Feb-23.
Qualified Person
The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, PGeo (British Columbia), a member of the Max Resource advisory board, who serves as a qualified person under the definition of National Instrument 43-101.
About Max Resource Corp.
Max Resource Corp. (TSXV: MAX) is a mineral exploration company advancing the newly discovered district-scale CESAR copper-silver project. The wholly owned CESAR project sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world class infrastructure and the presence of global majors (Glencore and Chevron).
In addition, Max controls the RT Gold project (100% earn-in) in Peru, encompassing two distinct systems, CERRO a bulk tonnage gold-bearing porphyry zone, and 3-km to the NW, TABLON a gold-bearing massive sulfide zone. Historic drilling in 2001 at TABLON, returned values ranging 3.1 to 118.1 g/t gold over core lengths ranging from 2.2 to 36.0-metres.
Max is proactive, with the corporate goal of transitioning the CESAR basin towards the mining of copper, the key metal for Colombia's transition to clean energy. The safety of our people and the communities where we operate is most important. We conduct exploration in a manner which supports protection of ecosystems through responsible environmental stewardship.
Source: NI 43:101 RT Gold Project by Qualified Person ("QP") Luis Rodrigo Peralta FAusIMM CP (Geo), 2023.
For more information visit: https://www.maxresource.com/
For additional information contact:
Tim McNultyE: info@maxresource.comT: (604) 290-8100
Rahim LakhaE. rahim@bluesailcapital.com
Brett MatichT. (604) 484 1230
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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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