Max Resource Significantly Expands the CONEJO Copper-Silver Zone at CESAR North, Colombia

Vancouver, British Columbia--(Newsfile Corp. - May 11, 2021) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report new assay results increasing the area of the CONEJO Zone by 500% at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer to Figure 2).

The latest set of assays expands the CONEJO copper-silver zone to an area covering 3.2-km by 1.6-km. The CONEJO zone still remains open in all directions, lying along the mid portion of the 80-kilometre-long CESAR North copper-silver belt. CONEJO assay results include:

  • Highlights of 3.0% copper and 22.6 g/t silver over intervals of 1.0-metre by 1.0-metre rock panels;
  • Ten rock panel samples returned values above 1.0% copper;
  • The CONEJO discovery returned values above 5.0% copper from twenty-three rock panels varying from 5.0-metre by 5.0-metre to 1.0-metre by 1.0-metre;
  • Sixty-six panel samples returned values over 1.0% copper (refer to Figure 3 and Table 1).

The CONEJO mineralization occurs both as a stockwork of cross cutting fractures and as disseminated mineralization hosted in igneous rock. Observed minerals include: chalcocite, native copper, cuprite and copper oxides. Epidote is commonly associated with the copper mineralization (refer to Figure 1).

"Newly discovered in March of this year, and although early stage, CONEJO appears to have scalable potential. Systematic mapping is now underway to determine both the density and orientation of the mineralized structures," commented Max CEO, Brett Matich.

"Over the last 18 months, Max has significantly extended CESAR North, consisting of five discoveries spanning over 80-km of strike, demonstrating a district-scale sediment-hosted copper-silver system," he continued.

"In addition, the Max team are eagerly awaiting assay results from another new discovery, the URU zone located 30-km south, which seems to be very similar mineralization to CONEJO," he concluded.

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Figure 1. The CONEJO copper-silver mineralization.

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Figure 2. CONEJO zone location.

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Figure 3. CONEJO sample locations and geochemistry.

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CONEJO Results 0.8% Copper and Above
NumberTypeInterval (m)Copper (%)Silver (g/t)
878469rock panel1.0 x
878496rock panel1.0 x
878460rock panel1.0 x 1.02.313.2
878461rock panel1.0 x
878465rock panel1.0 x
878459rock panel1.0 x
878470rock panel1.0 x
878495rock panel1.0 x
878491chip channel0.51.314.6
878494rock panel1.0 x
878458rock panel1.0 x
878464rock panel1.0 x
CONEJO Discovery Results 2.0% Copper and Above
878335rock panel5.0 x 5.012.583.5
878389rock panel1.0 x 1.010.751.6
878603rock panel3.0 x 2.010.550.1
878338rock panel5.0 x 5.010.495.2
878334rock panel5.0 x
878363rock panel5.0 x
878390rock panel1.0 x 1.09.5120.0
878391rock panel1.0 x
878386rock panel1.0 x 1.08.966.3
878336rock panel5.0 x 5.08.789.4
878337rock panel5.0 x 5.08.460.4
878368rock panel5.0 x 5.07.921.0
878373rock panel 5.0 x 5.07.784.1
878333rock panel 5.0 x 5.07.447.2
878394rock panel 3.0 x 3.07.380.0
878352rock panel 5 .0x
878356rock panel 5.0 x
878348rock panel 5.0 x 5.05.816.1
878393rock panel 1.0 x 1.05.563.7
878388rock panel 1.0 x 1.05.584.4
878349rock panel 5.0 x 5.05.319.0
878604rock panel 1.0 x
878625rock panel 5.0 x 5.04.936.2
878347rock panel 5.0x 5.04.911.1
878362rock panel 5.0 x 5.04.731.6
878351rock panel 5.0 x 5.04.628.8
878620rock panel 5.0 x 5.04.521.0
878614rock panel 5.0 x 5.04.425.8
878387rock panel 1.0 x
878381rock panel 5.0 x
878353rock panel 5.0 x 5.03.930.6
878617rock panel 5.0 x 5.03.817.6
878602rock panel 1.0 x
878619rock panel 5 .0x 5.03.615.2
878359rock panel 3.0 x 3.03.519.4
878364rock panel 5 .0x 5.03.518.5
878358rock panel 3.0 x 3.03.417.3
878427rock panel 5.0 x
878360rock panel3.0 x 3.03.328.7
878621rock panel 5.0 x
878605rock panel 1.0 x 1.02.923.4
878346rock panel 5.0 x
878361rock panel 5.0 x 5.02.719.6
878606rock panel 5.0 x 5.02.629.8
878607rock panel 5.0 x 5.02.628.5
878610rock panel 5.0 x 5.02.521.0
878354rock panel 5.0 x 5.02.514.8
878382rock panel 5.0 x
878345rock panel 5.0 x 5.02.412.6
878000rock panel 5.0 x 5.02.414.4
878424rock panel 5.0 x
878601rock panel 1.0 x
878419rock panel 5.0 x
878628rock panel 5.0 x
878379rock panel 5.0 x
878551rock panel 1.0 x


Table 1. CONEJO assay results. Max cautions investors that rock panel and representative sampling can both be selective and are not necessarily representative of the mineralization.

Max interprets the sediment-hosted stratabound copper-silver mineralization of the Cesar Basin to be 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.


The CESAR project, that covers a significant portion of the 200-km long Cesar Basin in North Eastern Colombia, has now been demonstrated to contain widespread highly prospective 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 2).

Due to the district-scale copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:

Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration with Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín (January 7, 2021 NR);

Geochemical and Mineralogical: geochemical and mineralogy 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 is interpreting regional airborne magnetic and radiometric data, funded by the Company in collaboration with one of the world's leading copper producers;

Proprietary Field Exploration & Techniques: Max's exploration teams continue to explore copper-silver stratabound targets at CESAR;

  • CESAR North 80-kilomtre-long-copper-silver belt (refer to Figure 2):

    • In 2020, Max identified the AMS (previously named AM South) and AMN (previously named AM North) stratabound copper-silver zones, collectively spanning over 45-km², with highlight values of 0.1 to 34.4% copper and 5.0 to 305.0 g/t silver over intervals ranging 0.1 to 25.0-metres;

    • In March 2021, Max reported the CONEJO discovery, now spanning an area of 3.2-km by 1.6-km and open in all directions. CONEJO returned values above 5.0% copper from 23 rock panels varying from 5.0m by 5.0m to 1.0m by 1.0m, 66 rock panel samples returned values over 1.0% copper (March 24, 2021 NR). Highlight assays above 9% copper and 50 g/t silver:
      • 12.5% copper + 84 g/t silver over 5.0-metre by 5.0-metre
      • 10.5% copper + 50 g/t silver over 3.0-metre by 2.0-metre
      • 10.4% copper + 95 g/t silver over 5.0-metre by 5.0-metre
      • 10.2% copper + 62 g/t silver over 5.0-metre by 5.0-metre
      • 10.0% copper + 80 g/t silver over 5.0-metre by 5.0-metre
      • 8.7% copper + 89 g/t silver over 5.0-metre by 5.0-metre
      • 8.4% copper + 60 g/t silver over 5.0-metre by 5.0-metre
      • 7.9% copper + 21 g/t silver over 5.0-metre by 5.0-metre
      • 7.7% copper + 84 g/t silver over 5.0-metre by 5.0-metre
      • 7.4% copper + 47 g/t silver over 5.0-metre by 5.0-metre

    • Early April 2021, Max identified the URU zone, located 30-km south of the CONEJO zone. Sampling indicated the presence of copper mineralization extending over 3.7-km, and open in all directions. Rock samples were sent to ALS for analysis, with results expected in May;

    • Late April 2021, Max identified the SP target, which lies along the mid portion of the CESAR North 80-km belt in line with the four previous copper discoveries URU, CONEJO, AMN and AMS. Rock samples were sent to ALS for analysis, with results expected in June;

    • Exploration continues on CONEJO, URU and SP;

  • CESAR West: Max has initiated a first pass field program to identify copper-silver mineralization along the new CESAR West 180-kilometre-long copper-silver target zone.


The Company's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, who serves as a qualified person under the definition of National Instrument 43:101.


Max Resource Corp. is an Energy Metals and Precious Metals exploration company, engaged in advancing both its district-scale 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 mineral deposits; both sediment-hosted-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.

Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.

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