Max Resource Receives Three
Additional Mining Concession Contracts for URU, CESAR Project in NE
Colombia
Vancouver B.C., November 24, 2021
-- InvestorsHub NewsWire -- MAX RESOURCE CORP. ("Max" or the
"Company") (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is
pleased to report that it has been granted three key Mining
Concession Contracts for a total of four for the URU zone, located
along the CESAR North 90-kilometre-long copper-silver belt, within
its wholly-owned CESAR project, North Eastern Colombia.
The four Mining Concession Contracts are contiguous and
collectively cover an expanse of 70-km². To date, the URU
copper-silver mineralization is identified over 48-km².
URU remains open in all directions and has recorded highlight
values of 14.8% copper and 132 g/t silver, from sampling that
included thirteen samples in excess of 3.0% copper, sixty-nine
samples in excess of 1.0% copper and fourteen samples in excess of
15 g/t silver. Sample widths range from 0.5 to 25.0m.
Next Steps for URU
-
Infill mapping and sampling of the entire 70-km²
-
Ground geophysical surveys to zero in on drill
targets
-
Environmental and socio-economic surveys for drill
permitting
-
Phase one drilling of the delineated targets
"These four strategic Mining Concession Contracts provide
secure tenure of the URU zone and immediately forge the way for
more advanced work programs, surveys and drill permitting,"
commented Max CEO, Brett Matich.
"Achieving this critical milestone expedites Max's first
drill program at URU, being a significant event in the Cesar basin
since the discovery of Cerrejón, the largest coal mine in South
America and the basis for much of the critical infrastructure in
the Cesar basin," he continued.
"Max's exploration focus aligns directly with the Agencia
Nacional de Minera's strategy of copper exploitation and future
development of the Cesar basin," he concluded.
Mining Concession Contract
Process
Max has completed all the requirements, which include a
detailed Social Management Plan, followed by a Public Hearing with
the local community. Each Mining Concession Contract has an initial
term of 30-years and extension for a further 30-years for a total
duration of 60-years.
Figure 1: First new Mining Concession Contract
Figure 2. URU 48-km² drill target area
Figure 3: CESAR copper-silver project
location
Figure 4: URU zone location
Figure 5: Mining
Concession Contract in Colombia
Geologically, Max interprets the URU 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 under the
definition of National Instrument 43:101.
CESAR
COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW
CESAR lies along the copper-silver rich 200-kilometre-long
Cesar Basin in northeastern Colombia. This region provides access
to major infrastructure (refer to Figure 3) resulting from oil
& gas and mining operations, including Cerrejón, the largest
coal mine in Latin America, now held by global miner
Glencore.
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 0.5 to 25.0m
-
Max's CONEJO discovery (March 2021), now spans over 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:
-
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 URU discovery (April 2021) is located 30-km south of
CONEJO, now expanded to 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 1.0 to 10.0m:
-
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
-
Recently granted four contagious Mining Concession Contracts
covering 70-km² of the URU target zone (November 24, 2021, NR)
-
The SP target is located within the mid portion of the CESAR
North 90-km-long-copper-silver belt, reconnaissance sampling over
25.0m averaged 4.8% copper and 51 g/t silver considered to be
significant (September 7,
2021, NR)
-
Next Steps:
-
Continue the regional exploration
programs
-
Infill mapping and sampling of
the entire 70-km² (Mining Concessions Contract area)
-
Ground geophysical surveys to
zero in on drill targets
-
Environmental and socio-economic
surveys for drill permitting
-
Phase one drilling of the
delineated targets
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