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  • TSX VOL 90
  • Cesar

    Copper-Silver Project

    Project Overview

    The recently acquired Cesar Copper-Silver project is located approximately 420 km north of Bogota within the Andean Copper Belt, north east Colombia. It is situated within Jurassic sediments and volcaniclastics that run through the length of northern South America and host significant stratabound copper-silver mineralization in Ecuador and Peru. Worldwide deposit examples of this type sedimentary hosted copper mineralization, which is typically flat lying, near surface include the Copperbelt of Central Africa, Kupferschiefer of Germany and Poland.

    Historically, the Cesar copper belt has only been explored from a local context and never in a broader larger-scale perspective. However, because the Cesar copper-silver belt appears to be formed like the world class Kupferschiefer copper-silver deposit: it has the same mechanism for mineralization, host rock, and likely stratigraphy. Max is considering Cesar to be a very similar exploration target, and using similar exploration methods that were successful on other deposits.

    First pass exploration was conducted in September 2019, highlights include:

    • Identified a total to 19 distinct areas of copper mineralization within an area of 9 square kilometres open in all directions
    • Reported grades ranged from 0.3% to 4.2% copper with 34 of the 43 samples assaying in excess of 1% copper; 15 of the 43 assaying in excess of 2% copper; 4 of the 43 samples assaying in excess of 3% copper
    • Silver also appears to be an important constituent with values ranging from 1 to 116 g/t

    Table 1

    Sample Type Copper % Silver g/t Sample Type Copper % Silver g/t
    A-13 Grab 3.02 7.1 A-17 Grab 1.63 11.2
    A-13.1 Grab 3.01 6.7 A-17.1 Grab 1.68 14.1
    A-14 Grab 3.60 59.6 A-18 boulder 0.99 1.9
    A-14.1 Grab 2.44 5.3 A-18.1 boulder 1.37 4.9
    A-15 Grab 2.00 7.3 A-19 boulder 1.58 6.2
    A-15.1 Grab 2.28 9.8 A-19.1 boulder 1.63 8.7
    A-15.2 Grab 2.10 10.0 A-20 boulder 1.31 2.8
    A-16 Grab 1.95 4.3 A-20.1 boulder 2.62 1.2
    A-16.1 Grab 1.96 5.6 A-21 Grab 1.69 8.5
    A-21.1 Grab 1.17 1.7

    Table 2

    Sample Type Copper (%) Silver (g/t) Sample Type Copper (%) Silver (g/t)
    A-1 Grab 1.31 31.4 A-7 Grab 1.00 12.3
    A-1b Grab 1.10 17.8 A-7b Grab 0.87 9.1
    A-2 Grab 3.84 96.9 A-8 Grab 3.15 23.2
    A-2b Grab 2.66 116.0 A-8b Grab 4.15 29.0
    A-3 Grab 0.85 14.2 A-9 Grab 1.24 5.7
    A-3b Grab 0.86 14.7 A-9b Grab 2.19 8.9
    A-4 Grab 0.50 8.4 A-10 Grab 1.51 4.1
    A-4b Grab 0.65 7.8 A-10b Grab 2.16 6.6
    A-5 Grab 0.28 2.3 A-11 Grab 1.84 4.6
    A-5b Grab 0.43 5.4 A-11b Grab 2.14 5.7
    A-6 Grab 1.45 14.1 A-12 Grab 1.54 10.5
    A-6b Grab 1.97 21.8 A-12b Grab 1.97 14.3

    Phase Two Exploration

    Phase two of exploration underway at Cesar:

    • Mapping of the known mineralized horizon including strike, dip and true width
    • Following up mineralization along the strike to establish strike length of mineralization always recording strike, dip and width of mineralization
    • Systematic sampling across the mineralized horizon following strike of mineralization
    • Reviewing possibility of the presence of multiple mineralized horizons

    Knowing strike, dip and width of mineralized horizon will allow to predict down dip extension of mineralization, estimate possible size; estimate copper and silver grades prior to mechanical trenching and drilling.

    "The next step is to identify the strike, dip and width of the mineralized horizon and then we be able to predict down dip extension of the mineralization. We are currently reviewing historic oil and gas drill holes and seismic sections to assist us in predicting the continuity of the mineralized horizons. The Cesar mineralization appears to have formed the same way as the Kupferschiefer copper-silver deposit, so we are utilizing this geological model to assist in exploring a very similar exploration target and to gauge the potential scale."

    - Brett Matich, Max CEO

    The Cesar Copper-Silver belt was formed like the world class Kupferschiefer copper-silver deposit. The Cesar copper-silver project has the same mechanism for mineralization, host rock, likely stratigraphy; Cesar is a very similar exploration target Kupferschiefer.

    Peer Comparison

    Aurania Resource Ltd. (TSXV: ARU) is developing the Cutucu Copper project, which has similar attributes to Max’s Cesar copper-silver project and is located on the same Andean Copper Belt in Colombia’s neighboring country of Ecuador. Aurania has used the Kuperferschiefer geological model and exploration strategy to identify a large copper sedimentary system. They used mapping, trenching and geophysics and are about to commence their first drilling program.