Max Resource Secures Major Landholdings Over 140-kilometres of the Prospective Copper-Silver Belt at its CESAR Project, NE Colombia
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2021) - MAX RESOURCE CORP. (TSXV: MXR) (OTC: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report the newly acquired CESAR West, encompassing approximately 2,000 square kilometres of highly prospective areas for copper-silver mineralization, at the Company's wholly owned CESAR project, North Eastern Colombia (refer to Figure 1).
"CESAR West was identified through surface structural mapping, interpretation of available seismic sections and drill core review. The Max in-country field crew have commenced sampling and mapping for Jurassic host rock and copper-silver mineralization along this new continuous 140-kilometre-long landholding," commented Max CEO, Brett Matich.
"Max has achieved a major milestone, expanding its landholdings in the CESAR Basin by over 300%. The newly discovered area lies along the central-western part of the CESAR Basin, and, together with the recent copper discovery at depth, supports the regional scale potential of the CESAR project," he concluded.
To view an enhanced version of Figure 1, please visit:
Max believes that the stratabound mineralized system in the CESAR Basin is analogous to the Kupferschiefer Basin in Poland. The Kupferschiefer deposits, Europe's largest copper source, produced 3MT of copper in 2018 and 40 million ounces of silver in 2019 from an orebody 0.5 to 5.5-metres thick, grading 1.49% copper and 48.6 g/t silver. This silver yield is almost twice the production of the world's second largest silver mine.
Source: World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper-silver mineralization at Kupferschiefer is not necessarily indicative of similar mineralization at CESAR.
CESAR COPPER-SILVER PROJECT IN COLOMBIA
The CESAR project in North Eastern Colombia covers the major portion of over 200-km long Cesar Basin with identified statabound sediment-hosted copper-silver mineralization. This region enjoys major infrastructure as a result of oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American (refer to Figure 1).
Max has entered into three non-exclusive confidentiality agreements regarding the CESAR project: one with one of the world's leading copper producers; a second with a global mining company and a third with a mid-tier copper explorer.
The exploration priorities for the CESAR project are: regional geochemical sampling, structural modelling interpretation of seismic data, analysis of oil & gas drill cores and expansion of landholdings.
Max has initiated its fully funded 2021 exploration campaign:
Regional Mapping: sampling and mapping for Jurassic host rock and copper-silver mineralization along this new continuous 140-kilometre-long landholding;
Advanced Analysis of Drill Core: XRF analysis of core from historic drilling of the Cesar Basin to identify the presence of copper at depth (January 7, 2021);
Geochemical and Mineralogical: research programs by the University of Science and Technology ("AGH") of Krakow, Poland. AGH bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;
Geophysics: Fathom Geophysics interpreting geophysical data funded by the Company in collaboration with one of the world's leading copper producers;
Structural Modelling: drill core and seismic analysis is being conducted by Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín, and the Max team.
CESAR WEST ACQUISITION
The Company has secured 20 mineral applications from an arm's-length vendor by agreeing to pay USD $175,000. The Vendor retains a 3% NSR with the Company having the exclusive right to purchase 100% of the 3% NSR for USD $4,000,000, any time prior to production.
ABOUT MAX RESOURCE CORP.
Max Resource Corp. is advancing both its stratabound Kupferschiefer type CESAR copper-silver project in Colombia and the newly acquired RT Gold project in Peru. Both projects have potential for the discovery of large-scale copper and precious metals deposits.
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.
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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