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
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