Vancouver, British Columbia--(Newsfile Corp. - September 1, 2020) - MAX RESOURCE CORP. ("Max" or the "Company") (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) is pleased to report a paper titled "Redbed type stratabound copper-silver discovery, eastern part of the Cesar-Rancheria Basin, Colombia" has been accepted for presentation at the IV Geological Congress, Poznań, Poland. Due to COVID-19, the conference and paper presentation has been postponed until 2021.
The Conference is organized by Polish Geological Society, and will be held at Adama Mickiewicza Uniwersytet in Poznan, Poland.
This paper and presentation is part the on-going involvement of the University of Science and Technology ("AGH-UST"), Faculty of Geology, Geophysics and Environmental Protection, Department of Economic Geology ("AGH"), Krakow, Poland in a study of the sediment-hosted copper-silver mineralization of the Company's CESAR Copper-Silver Project, located 420-km north of Bogota, in NE Colombia (Figure 1).
Three authors collaborated on this paper: A. Piestrzyński, prof. dr hab. Eng (1), J. Pieczonka, dr hab. Eng (1) and P. Lutynski, M. Sc, & P. Eng (2) (head geologist of Max). An abstract of the paper can be viewed on the Company's webpage (IV Geological Congress, Poznan, Poland). (1): University of Science and Technology ("AGH-UST"), Faculty of Geology, Geophysics and Environmental Protection, Department of Economic Geology ("AGH"), Krakow, Poland. (2) Max Resource Corp., Vancouver, Canada.
Lead Professor Adam Piestrzynski and his team at AGH conducted various mineralogical and geochemical tests on samples and project materials from CESAR. This paper is the initial publication under collaboration between Max and AGH whereby results from the study on CESAR may be used for public presentations and scientific papers, with this paper being the first result of the research. In addition, discussions have commenced with respect to an AGH M.Sc. student focusing has his thesis on material from the CESAR project.
AGH Professors and teaching staff have a long history of cooperation with KGHM Polska Miedz ("KGHM"), Poland's largest copper and silver producer, and will bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland, to bear on the technical studies of CESAR.
Kupferschiefer is Europe's largest copper mine, with production in 2018 of 30 million tonnes grading 1.49% copper and 48.6 g/t silver from a mineralized zone of 0.5 to 5.5-metre thickness. The Kupferschiefer deposit is also the world's leading silver producer, yielding 40 million ounces in 2019, almost twice the production of the world's second largest silver mine (World Silver Survey 2020).
"We are extremely pleased to have our CESAR copper-silver project selected for presentation at such a prestigious conference. Inclusion of our CESAR project at this conference brings more attention to the increasing importance of the stratabound copper-silver deposits of northeastern Colombia. Our exploration team continues to make discoveries, that both further substantiates our Kupferschiefer geological model, and significantly expands the mineralization footprint," said Max CEO, Brett Matich.
"With the price of copper increasing from a low of $4,618 in March to the current $6,700 per ton, and silver prices more than doubling since March this year, the importance of the CESAR copper-silver project also increases, so we have implemented additional measures to significantly increase our land position within this key copper-silver basin," he continued.
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CESAR Copper-Silver Project Overview
The wholly-owned CESAR project in north east Colombia lies along a 120-kilometre sediment-hosted copper-silver belt, that resembles the Kupferschiefer in Poland. The CESAR region enjoys major infrastructure. Mining operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American (Figure 1).
Important highlights and exploration activity on multiple fronts:
- AM North consists of a broad 11-kilometre continuous zone of copper-silver mineralization. At the northern end, the open-ended "Herradura Zone" returned values of 24.8% copper + 230 g/t silver from a continuous 4-metre by 1-metre outcrop and 10.4% copper + 88 g/t silver from a continuous 1-metre outcrop. Two subsequent bulk samples 1.8-kilometres apart returned 10.4% copper + 88g/t silver and 3.5% copper + 29 g/t silver. The newly discovered "Ventana Zone",11-kilometres to the south, returned highlight outcrop values of 2.70% copper + 4 g/t silver over 2-metres;
- The AM South zone occurs 40-km SSW of the AM North zone (refer Figure 1), within the same Kupferschiefer style mineralized trend. The AM South zone extends over an area of 4-kilometres by 3-kilometres, and remains opens laterally. The cumulative strike length of the open-ended AM South horizons exceeds 5.8-kilometres, returning highlight values of 5.8% copper and 80 g/t silver from 0.1 to 25-metre intervals, suggesting these horizons could be of significant size.
- Initial results from the Fathom Geophysics technical studies are expected soon. The study was funded by the Company and one of the world's leading copper producers. These studies are focused on mapping stratigraphic features and identifying distinct rock types and alteration-zones, which will assist in highlighting stratabound copper-silver mineral horizons over the CESAR target zone (Figure 1);
- Geochemical and metallurgical research programs by the University of Science and Technology ("AGH") of Krakow, Poland are well underway. AGH will bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;
- Ongoing structural analysis of the CESAR target zone is being conducted by Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín, with the assistance of the Max field team;
- The Company has also entered into two non-exclusive confidentially agreements regarding the CESAR project: the first with one of the world's leading copper producers, and a second with a global mining company;
- The in-country exploration team has now re-commenced field activities.
Our in-country field team is now mapping, sampling and confirming the continuity of the mineralized horizons and expanding the zones of AM North and AM South.
About Max Resource Corp.
With its successful exploration and management team, Max Resource Corp. is advancing its stratabound Kupferschiefer type copper-silver project in Colombia, that has potential for the discovery of large-scale mineral deposits attractive to major partners.
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/
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Max Resource Corp.
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