MAX Resource Announces LWIR Correlates with Gold Bearing Correlates at Choco
Vancouver British Columbia--(Newsfile Corp. - February 27, 2019) - MAX RESOURCE CORP. (TSXV: MXR) (OTC: MXROF) (FSE: M1D1) ("MAX" or the "Company") is pleased to report the results of a "cloud stitched" Long Wave InfraRed (LWIR) survey over a 1,000 sq. km area within the Company's 1,757 sq. km "Choco Gold Bearing Conglomerate Project", located 100km SW of Medellin, Colombia.
• The LWIR results appear to suggest a strong correlation between the gold bearing conglomerate Trial Pits and Outcrop sample sites and LWIR anomalies.
• The LWIR survey area encompasses the previously reported 36 sq. km gold bearing zone and covers or is adjacent to historic production (1906 - 1990) of 742,308 oz. gold and 769,049 oz. of platinum and the 2006 ANM drill hole which identified conglomerates units down to 500m. Source: R.J. Fletcher & Associates 2011 Review of Gold and Platinum Exploration & Production in Choco Province Colombia, P3 Private Report for Condoto Platinum Ltd.
• The LWIR identified anomalous zones interpreted to be conglomerates continue further to the northeast and southwest.
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Brett Matich, MAX's President and Chief Executive Officer, commented: "The LWIR has yielded responses throughout the 1000 sq. km survey area similar to responses over the 36 sq. km area of our concentrated exploration efforts to date." He continued: "The LWIR survey has also further increased our level of confidence in a possible link between overlying Choco Pacific production and underlying gold-bearing conglomerates."
Max conducted the cloud stitching Long Wave InfraRed (LWIR) survey to investigate a potential correlation between conglomerate outcropping and areas of historic production. Historically, satellite imagery has been hindered because of year-round cloud cover. This survey sourced multiple bands through the gaps in the clouds over a 20-year period, stitching the imagery together.
LWIR analysis, through proprietary processing of Aster satellite data, has the ability to map or identify, through reflectance spectroscopy against a set of known standards, mineral distribution over extremely large areas covered by vegetation and shallow cover. The ground-penetrating nature of infrared radiation in the long wave bands allows viewing of mineral spectra in the first 30 to 60 centimetres of the earth's surface through dense vegetation.
The Choco Gold Bearing Conglomerate Project
MAX has 100% ownership of 82 and 50% of 7 mineral license applications, totaling over 1,757 sq. km located within Choco Department approximately 100km SW of the city of Medellin, Colombia.
Compania Minera del Choco Pacifico ("Choco Pacific") produced 1.5 million ounces of surface gold and 1.0 million ounces of surface platinum from the "Choco District" between 1906 to 1990, largely limited to an average depth of 8 meters or less.
MAX's Choco Gold Project covers or is adjacent to much of Choco Pacific's historic exploration and production areas, in addition, an ANM hole drilled for hydrocarbons in the northern end of the current 1000 sq. km exploration area, that appears to have intersected zones of conglomerates through the top 500 metres according to the summary of drill log for hole Choco-1-ST-P. None of the conglomerate was sampled for gold as the target was deeper hydrocarbons.
Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd.)
MAX cautions investors it has yet to verify the historic information.
Tim Henneberry, P. Geo (British Columbia), a member of the Max Resource Corp. Advisory Board, is the Qualified Person who has reviewed and approved the technical content of this news release on behalf of the Company.
About Max Resource Corp.
Max Resource Corp.'s focus is to explore and consolidate gold and platinum group mineral assets in the richly endowed Choco mineral district of Colombia.
ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.
Brett Matich, CEO and President
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This news release includes certain statements that may be deemed as "forward-looking statements" within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical facts, are forward-looking statements, including, without limitation, statements pertaining to completion of the Transaction and any approvals required in connection with the Acquisition. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper), unanticipated changes in key management personnel and general social, economic or geo-political conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws. We seek safe harbor.
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