June 10, 2021
Vancouver B.C., June 10, 2021 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report the first assay results from the URU zone, at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer to Figures 1 to 4).
Fifteen rock chip channels over widths of 10-metres, along 4-kilometres of strike, returned values greater than over 1% copper, highlight values of 5.7% copper and 14 g/t silver.
Highlights of the URU Zone Assay Results:
- 4.3% copper and 8 g/t silver over widths of 10-metres (876065)
- 3.6% copper and 12 g/t silver over widths of 10-metres (876687)
- 3.0% copper and 6 g/t silver over widths of 10-metres (876685)
- 2.2% copper and 5 g/t silver over widths of 10-metres (876064)
- 2.0% copper and 1 g/t silver over widths of 10-metres (876097)
- 1.9% copper and 1 g/t silver over widths of 10-metres (876072)
- 1.9% copper and 9 g/t silver over widths of 10-metres (876067)
The newly discovered URU zone now spans over 4-kilomtre by 1-kilometre, and open in all directions, lying along the southern portion of the 80-kilometre-long CESAR North copper-silver belt. The URU 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 oxides. Epidote is also common and appears to be associated with copper mineralization (refer to Figure 5).
“Max’s in-country team has now identified five potential deposits along the CESAR North 80-kilometre zone, demonstrating a continuous trend of copper mineralization,” commented Max CEO, Brett Matich.
“The second phase exploration programs have now commenced on the URU and CONEJO zones,” he continued.
“World demand for copper continues to increase and is the key metal for the “green revolution’s” move to electric vehicles, solar, wind and clean power grid infrastructure. Combined with copper’s declining reserve base, exploration for copper to replace depleting reserves is essential. Due to the potential district scale of CESAR, Max is well positioned to take advantage of the copper shortfalls,” he concluded.
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.
CESAR COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW
CESAR, is located along the 200-kilometre-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;
Geophysical: Fathom Geophysics is interpreting seismic data, funded by the Company in collaboration with one of the world’s leading copper producer;
Proprietary Field Exploration & Techniques: Max’s in-country exploration teams continue to target new copper-silver stratabound mineralized zones;
- CESAR North 80-kilomtre-long-copper-silver zone (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, 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, the URU discovery extends over 4-kilometres, and open in all directions, located 30-km south of CONEJO. Although early stage, URU appears to have scalable potential; Sixteen rock chip channel samples returned over 1% copper with assay values up to 5.7 % copper and 14.4 g/t silver including URU results include:
- 4.3% copper and 8 g/t silver over widths of 10-metres;
- 3.6% copper and 12 g/t silver over widths of 10-metres;
- 3.0% copper and 6 g/t silver over widths of 10-metres;
- 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 and July;
- 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.