Max recently reports the establishment of a wholly-owned subsidiary named “PGE Americas Metals Corp.” whereby the Company has transferred all of its rights in the PGE Choco Project. This is the first step towards building a portfolio of PGE assets with a targeted focus on palladium, platinum and rhodium in order to capitalize on real world technology metal deficits. The corporate intent is to unlock this value in both, an accelerated and timely manner.
PGE Choco project is located 120 km SW of Medellin Colombia, within an historical PGE region, recorded production of one million ounces of platinum (1906-1990) by Choco Pacific Mining. Compilation of historical records revealed the potential of related PGE’s, particularly palladium and rhodium. In addition, recent field work by Max resulted in highlight concentrate values of 114 g/t platinum from a field program in 2019 (refer to news release April 16, 2019). Colombia was the world’s main source of platinum until 1820 and was world’s largest producer between 1917 and 1923.
"The high-grade AM North discovery supports our model of a significant, large-scale stratabound copper + silver system, now stretching over 35-kilometers between AM North and AM South."- Brett Matich, Max Resource Corp. CEO
The wholly owned Choco Gold Property is located approximately 80 km SW of Medellin, Colombia. Max is currently assessing Joint Venture opportuntities.
High Grade Discovery
A continuous rock chip sample collected over 1m sample intervals at the new NW Gold-Copper Discovery returned 49.8 g/t gold and 4.3 % copper, with the mineralized zone continuing under the cover in both directions. The mineralization appears to be structurally controlled within granodiorite to quartz monzonite and is coincident with a Long Wave InfraRed (LWIR) anomaly.
It's important to note that AngloGold Ashanti’s 2005 Quebradona gold-copper discovery and IAMGold’s 2010 Caramanta gold-copper discovery are both in a similar geological environment to the NW Gold-Copper Discovery area, located 12 km NE and 6 km W respectively.
* Source: “Discovery and Geology of the Nuevo Chaquiro Cu-Au (Ag-Mo) Porphyry Deposit” by N. Winer, VP Greenfields Colombia, AngloGold Ashanti and undated.
** Source: “Technical Report on the Caramanta Project, Department of Antioquia, Republic of Colombia by O’Prey, 2014 for Solvista Gold Corporation
Future work will focus on mapping and sampling along strike to extend the zone and on locating additional parallel zones.