Exploring for Critical Metals
Max Resource Corp. (TSXV: MAX) is a mineral exploration company exploring the world’s next sediment-hosted copper district in Colombia and DSO iron ore within the Iron Quadrangle in Brazil, hosting some of the largest DSO mines in the world.
“The AM-13 discovery is a significant achievement by the Max team working with Freeport-McMoRan Exploration Corporation (Freeport), which is earning in at the Sierra Azul Copper-Silver Project to unlock Sierra Azul’s potential, which we believe is host to one of the world’s largest underexplored sedimentary and volcanic copper-silver systems.”
- Brett Matich, MAX CEO & President
The Sierra Azul (formerly Cesar) copper-silver project consists of 20 mining concessions spanning over 188 km2 and comprises three continuous districts spanning 120-km NNE/SSW. Colombia’s Cesar basin lies along the northern portion of the Andean copper belt, the world's largest producing copper belt. This region provides access to major infrastructure resulting from oil & gas and mining operations, including Cerrejón, the largest coal mine in South America, held by global miner Glencore. Max is exploring the world's next sedimentary-hosted copper district along a 120-km copper-silver target zone, where three significant discoveries zones have been made: AM, Conejo and URU.
View Project PageOn May 30, 2024, the Company received exchange approval for an earn-in agreement with Freeport-McMoRan Inc. for a two-stage option to acquire up to an 80% ownership interest in the project by funding cumulative expenditures of C$50 million and making cash payments to Max of C$1.55 million. 2024 exploration at Sierra Azul is fully funded by Freeport-McMoRan Inc. and includes:
Subject to TSX Venture approval, Max has executed a Definitive Agreement to purchase 100% of the Florália DSO Iron Ore Project, located within the Iron Quadrangle in Brazil, which hosts some of the largest DSO mines in the world. Florália is located within 20-km of five major iron ore mines, a number of DSO iron ore purchase delivery locations, eliminating major long-haul costs.
The Florália DSO deposit* consists of four distinct bodies of iron ore mineralization along a southeastern trend. 2023 channel sampling consisted of 41 channel samples collected over a 151m accumulated length of excavated mining pits, resulting in the definition of an 8-to-12-meter geological target estimated at 58% Fe with a 6% Loss of Ignition (DSO benchmark is 58 to 62% Fe). During the mapping and sampling program, 41 channel samples were collected over a 151m accumulated length. The geological target is currently estimated at 2,971,233 m3 to 4,496,333 m3 or 8,052,041 tonnes to 12,184,160 tonnes using a density of 2.71 g/cm3. Mapping has traced iron ore along 1,000m of strike to the north and a further 822m to the southwest, with the largest body located at the southeastern end. This body is exposed by an historic open pit 80m wide and 40m deep.
Florália DSO Property Technical Report View Project Page*Max cautions investors the potential quantity and grade of the iron ore is conceptual in nature, and further cautions there has been insufficient exploration to define a mineral resource and Max is uncertain if further exploration will result in the target being delineated as a mineral resource.