Vancouver, British Columbia--(Newsfile Corp. - November 17,
2021) - MAX RESOURCE
CORP. (TSXV: MXR)
(OTC Pink:
MXROF) (FSE: M1D2) ("Max" or the
"Company") is pleased to report that it has received
its first Mining Concession Contract for the URU zone, located
along the CESAR North 90-kilometre-long copper-silver belt, within
the wholly-owned CESAR copper-silver project in North Eastern
Colombia (refer to Figures 1 to 5).
"Receipt of this initial Mining Concession Contract is a key
step in obtaining drill permits and developing a plan for the very
first drilling program on the URU copper-silver zone," commented
Max CEO, Brett Matich.
"The Max technical team is now working in the field to
identify drill targets over the approved Mining Concession Contract
and continue to expand the 48-km² URU zone, located along the
southern portion of the 90-kilometre-long CESAR North copper-silver
belt," he concluded.
The Colombian Mining Concession Contract process includes,
amongst other requirements, a detailed Social Management Plan,
followed by a public hearing with the local community. The public
hearing for the Mining Concession Contract (501537) took place on
September 2, 2021, followed by the issue of the Contract. Mining
Concession Contracts have an initial term of 30-years and include
an extension for a further 30-years for a total duration of
60-years.
Today at 3pm EST at the Colombian Gold Symposium (CGS2021) in
Medellin, Max's technical consultant, Dr. Christian Grainger will
present the CESAR copper-silver project; this presentation can be
viewed by live stream. The CGS2021 Conference is a leading,
in-person regional event focused on gold and copper exploration and
development, as the world transitions to clean electrification and
decarbonisation.
For live stream viewing of the CGS2021 visit: https://cgs2021.substack.com/
Figure 1. First new Mining Concession
Contract
Figure 2. URU 48-km² copper-silver
zone
Figure 3. CESAR copper-silver project
location
Figure 4. URU zone location
Figure
5. Colombian Mining Concession
Contract
Max interprets the sediment-hosted stratiform copper-silver
mineralization in the Cesar basin to be analogous to both the
Central African Copper Belt (CACB) and the Kupferschiefer deposits
in Poland. Almost 50% of the copper known to exist in
sediment-hosted deposits is contained in the CACB, including
Ivanhoe Mines Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula
discovery in the Congo.
Kupferschiefer, the world's largest silver producer and Europe's
largest copper source, is a mining orebody ranging from 0.5 to 5.5m
thick at depths of 500m, grading 1.49% copper and 48.6 g/t silver.
The silver yield is almost twice the production of the world's
second largest silver mine.
Source: Central African Belt Descriptive models,
grade-tonnage relations, and databases for the assessment of
sediment-hosted copper deposits with emphasis on deposits in the
Central Africa Copperbelt, Democratic Republic of the Congo and
Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World
Silver Survey 2020 and Kupferschiefer Deposits & Prospects in
SW Poland, September 27, 2019. Max cautions investors that the
presence of copper mineralization of the Central African Copper
Belt and the Polish Kupferschiefer are not necessarily indicative
of similar mineralization at CESAR.
QUALIFIED PERSON
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 (QP) under the definition
of National Instrument 43:101.
CESAR COPPER-SILVER PROJECT IN COLOMBIA -
OVERVIEW
CESAR lies along the copper-silver rich 180-kilometre-long Cesar
basin in northeastern Colombia. This region enjoys major
infrastructure resulting from oil & gas and mining operations,
including Cerrejon, the largest coal mine in Latin America, now
held by global miner Glencore (refer to Figures 3 and 4).
CESAR North 90-kilometre-long-copper-silver
belt:
- In 2020, Max discovered both the copper-silver rich AMS
(previously named AM South) zone and the AMN (previously named AM
North) zone 40-km north, collectively spanning over 45-km².
Highlight values of 34.4% copper and 305 g/t silver. Intervals
range from 0.5 to 25.0m.
- In March 2021, Max's announced the CONEJO discovery, now
spanning 3.7-km of strike and open in all directions. To date, 13
rock samples returned values greater than 8.0% copper; 53 returned
values greater than 5.0% copper; 93 returned values 2.0% copper and
above; 36 returned values greater than 20 g/t silver. Widths range
from 0.5 to 20.0m. Highlight values of 12.5 % copper and 126 g/t
silver (November 3, 2021 NR):
-
- 12.5% copper + 84 g/t silver over 5.0m by 5.0m
- 10.5% copper + 50 g/t silver over 3.0m by 2.0 m
- 10.4% copper + 95 g/t silver over 5.0m by 5.0m
- 10.2% copper + 62 g/t silver over 5.0m by 5.0m
- 10.0% copper + 80 g/t silver over 5.0m by 5.0m
- 9.9% copper and 50 g/t silver over widths of 2.0m
- 9.3% copper and 126 g/t silver over widths of 2.0m
-
- The 2021 URU discovery is located 30-km south of CONEJO, now
spans over 48-km² and open in all directions. URU appears to have
major-scale potential; Highlight values of 14.8% copper and 132 g/t
silver. Widths range from 1.0 to 10.0m (October 7, 2021
NR):
-
- 14.8% copper and 132 g/t silver outcrop over 1.5m x 0.8m
- 6.5% copper and 6 g/t silver outcrop over widths of 1.0m
- 5.6% copper and 87 g/t silver outcrop over 1.0m by 1.0m
- 4.3% copper and 8 g/t silver outcrop over widths of 10.0m
- 3.9% copper and 7 g/t silver outcrop over widths of 10.0m
- 3.6% copper and 12 g/t silver outcrop over widths of 10.0m
- 3.0% copper and 6 g/t silver outcrop over widths of 10.0m
- 3.0% copper and 37 g/t silver outcrop over widths of 10.0m
- First Mining Concession Contract (November 24, 2021
NR)
- The new SP target reconnaissance composite grab sampling over a
25.0m outcrop averaging 4.8% copper and 51 g/t silver is considered
significant (September 7, 2021 NR)
- NEXT STEPS: Regional exploration along the 90-kilometre-long
CESAR North copper-silver belt. In addition, the Max technical team
are now working in the field to identify drill targets over the
approved Mining Concession Contract and continue to expand the
48-km² URU zone
ABOUT MAX RESOURCE CORP.
Max Resource Corp. is a copper and precious metals exploration
company, engaged in advancing both the newly discovered
district-scale CESAR copper-silver project (100% owned) in Colombia
and the newly acquired RT Gold project (100% earn-in) in Peru. Both
projects have potential for the discovery of large-scale mineral
deposits; both stratiform-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.
For more information visit: https://www.maxresource.com/
For more information visit: www.tsx.com/venture50
TSX Venture 50™ for 2021 video: MAX Resource
Corp. (TSXV: MXR) - 2021 TSX Venture 50 - YouTube
For additional information contact:
Max Resource Corp.
Tim McNulty
E: info@maxresource.com
T: (604) 290-8100
*The Venture 50 ranking is provided by TSX Venture Exchange
Inc. ("TSXV") for information purposes only. Neither TMX Group
Limited nor any of its affiliated companies guarantees the
completeness of this information and are not responsible for any
errors or omissions in or any use of, or reliance on, this
information. The Venture 50 program is not an invitation to
purchase securities listed on TSX Venture Exchange. TSXV and its
affiliates do not endorse or recommend any of the referenced
securities or issuers, and this information should not be construed
as providing any trading, legal, accounting, tax, investment,
business, financial or other advice and should not be relied on for
such purposes"
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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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