Max Resource Corp (TSXV:MXR, OTC:MXROF, Frankfurt:M1D2) is making good headway at its flagship CESAR copper-silver project in northeastern Colombia, where the Vancouver-based company has been focused on the newly discovered URU zone.
URU is the second copper discovery Max has made at CESAR North this year, and one of the area’s five discovery zones since the company took ownership of the project in late 2019.
In July the zone was significantly expanded, with its strike length increased threefold from 4 to 12 kilometers.
URU lies along the southern portion of the 80-kilometer-long CESAR North copper-silver belt, appears to be continuous over the entire 12 kilometers, and remains open in all directions.
CESAR North, URU discoveries and locations
The initial URU discovery (April 8, 2021) reported 16 rock chip channel samples returning greater than 1% copper extending over a 4-kilometer-long strike, with highlights of 5.7% copper and 14 g/t silver, including:
The copper mineralization is hosted in a stockwork within igneous host rock that crosscuts sediment-hosted stratabound mineralization. Observed minerals include chalcocite, native copper, cuprite and copper oxide. Epidote is also common and appears to be associated with copper mineralization.
This week Max reported some impressive assay results from surface sampling, including 3.9% copper over 10-meter widths and visible copper over the zone’s 12 square kilometers.
Twenty-one rock samples returned values greater than 1% copper, with eight samples featuring 2% copper or higher, over widths ranging from 10 to 25 meters.
Among the >2% copper rock chip channel samples, highlights included:
Grab samples collected over 25-meter widths returned 2.7% and 2.2% copper. Max is awaiting assay results from locations along the 10 kilometers of strike, shown as white dots in Figure 2 below.
“The widespread nature of the copper mineralization over significant widths demonstrates the major-scale potential of the URU zone, that is open in all directions. We look forward to additional URU zone copper assay results due late next month,” said Max’s CEO, Brett Matich, in the Aug. 10 news release.
An important takeaway from Tuesday’s news release, is Figure 3 below, depicting a three-dimensional model of the URU Zone. The model shows the various mineralized occurrences, which range from 1,000 to 34,400 parts per million (ppm) copper and 5 to 656 ppm silver, presenting at surface within a mountainous topography. The elevation scale on the right of the model shows the rock copper and silver samples are between 600 meters and 1,800m.
As you can see the topography is obviously not flat. Some of the mineralization has to extent vertically. When I first saw this picture, saw the terrain, I thought ‘that mineralization had to come from depth.’
The figure below shows the URU discovery cross-section. Notice that three of the four surface sample locations with grades attached are taken from where the green “ore shoots” rise up to the surface. The fourth sample location is deeper, taken from within the porphyritic intrusion, colored red.
In less than two years, the Max team has reported multiple copper-silver discoveries on the CESAR property, with room for further expansion.
CEO Brett Matich’s claims that “CESAR provides Max shareholders significant copper exposure, the key metal for the green revolution’s move to electric vehicles, solar, wind and clean power grid infrastructure” are backed up by the magnitude of industry interest in the asset since its acquisition. There are already multiple non-disclosure agreements in place to advance the project, including a collaboration agreement with an industry-leading copper producer.
The URU Zone makes a very interesting addition to Max’s four other discoveries at CESAR. We’re anxious to hear more – the potential discovery of a massive buried copper + silver porphyry at URU with ore shoots extending to surface – is quite intriguing.
Field exploration is continuing at CESAR through to the end of year, which means more promising developments are in the pipeline as the company unearths the true potential of the region’s copper and silver minerals.
Max Resource Corp.
TSXV:MXR, OTC:MXROF, Frankfurt:M1D1
Shares Outstanding 90.6m
Market cap Cdn$15.4m
Richard (Rick) Mills
subscribe to my free newsletter
Legal Notice / Disclaimer
Ahead of the Herd newsletter, aheadoftheherd.com, hereafter known as AOTH.
Please read the entire Disclaimer carefully before you use this website or read the newsletter. If you do not agree to all the AOTH/Richard Mills Disclaimer, do not access/read this website/newsletter/article, or any of its pages. By reading/using this AOTH/Richard Mills website/newsletter/article, and whether you actually read this Disclaimer, you are deemed to have accepted it.
Any AOTH/Richard Mills document is not, and should not be, construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.
AOTH/Richard Mills has based this document on information obtained from sources he believes to be reliable, but which has not been independently verified.
AOTH/Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness.
Expressions of opinion are those of AOTH/Richard Mills only and are subject to change without notice.
AOTH/Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.
Furthermore, AOTH/Richard Mills assumes no liability for any direct or indirect loss or damage for lost profit, which you may incur as a result of the use and existence of the information provided within this AOTH/Richard Mills Report.
You agree that by reading AOTH/Richard Mills articles, you are acting at your OWN RISK. In no event should AOTH/Richard Mills liable for any direct or indirect trading losses caused by any information contained in AOTH/Richard Mills articles. Information in AOTH/Richard Mills articles is not an offer to sell or a solicitation of an offer to buy any security. AOTH/Richard Mills is not suggesting the transacting of any financial instruments.
Our publications are not a recommendation to buy or sell a security – no information posted on this site is to be considered investment advice or a recommendation to do anything involving finance or money aside from performing your own due diligence and consulting with your personal registered broker/financial advisor.
AOTH/Richard Mills recommends that before investing in any securities, you consult with a professional financial planner or advisor, and that you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. Ahead of the Herd is not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security.
Richard owns shares of Max Resources (TSX.V:MXR). MXR is a pais advertiser on his site aheadoftheherd.com