Vancouver B.C., May 13, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report it has entered a collaboration agreement with one of the world's leading copper producers (“Major”) and has brought in Fathom Geophysics (“Fathom”) to carry out a technical study of the Company's wholly-owned CESAR copper-silver project, located in northeast Colombia about 420 km north of Bogota.
The technical study is focusing on mapping stratigraphic features that may help to pinpoint stratabound copper-silver mineral horizons at CESAR. Fathom will utilize remotely-sensed data including ASTER and Sentinel-2 infrared bands for spectral correlation mapping to compare the Cesar data set against known standards to identify occurrences of target mineral species associated with stratabound copper-silver deposits. The distribution of these occurrences will be assessed so that general stratigraphic features, such as the surface-trace of various distinct rock units, can be extracted across the study area. During this mineralogical mapping stage, Fathom will be looking for any discrete, localized features and will investigate any such features as possible alteration-zones.
This collaboration with the Major and the study being carried out by Fathom complements a research program initiated with the University of Science and Technology (“AGH”) of Krakow, Poland. AGH has a long history of cooperation with KGHM, the largest copper producer in Europe and the world's second largest silver producer (news release of April 21, 2020).
“Participation of a Major in this geophysical study marks a significant milestone for our Company and provides validation of the CESAR copper-silver project. It combines the expertise of a world-leading copper miner with Fathom's expertise in characterizing copper-silver deposits and their surrounds,” Max CEO Brett Matich said.
“Max's ability to attract the interest of a major mining company and Poland's University of Science and Technology, reflects the technical merit of the CESAR project. The field team has now returned to the site with the objective of both expanding the footprint of the CESAR deposit and determining the continuity of the copper-silver mineralization,” Mr. Matich continued.
About Fathom Geophysics
Fathom Geophysics analyzes exploration data in ways few others can and applies the results to its in-house manual geological interpretations and its exploration target-ranking process. Fathom Geophysics provides geophysical and geoscience data processing and targeting services to the minerals and petroleum exploration industries, from the regional scale through to the near-mine deposit scale.
Among the data types Fathom Geophysics works on are three-dimensional (3D) footprint modeling, potential field data (gravity and magnetics), electrical data (induced polarization and electromagnetics), topographic data, seismic data, geochemical data, precipitation and lake-level time-lapse environmental data, and remotely-sensed (satellite) data such as Landsat and ASTER.
For more information visit: www.fathomgeophysics.com
CESAR Copper-Silver Project
The wholly-owned CESAR copper-silver project of Max in northeast Colombia lies within Jurassic sediments and volcaniclastics that extend the length of northern South America. These Jurassic rocks also host significant stratabound copper-silver mineralization in both Ecuador and Peru. CESAR lies along a historic 120 km copper-silver belt within a major oil and gas and coal-mining district. The region has excellent infrastructure, shipping ports, airports, townships, railways and roadways.
Early success includes:
EBAY Palladium-Platinum Project
The EBAY palladium-platinum project, located 30 km SE of Matagami in the Abitibi Region of Quebec, Canada, is underlain by the Archean Bell River Complex, a layered mafic intrusion measuring 65 km by 15 km and 5 km thick. Max has entered into an Option Agreement pursuant to which the Company may acquire a 100% interest of EBAY (news release May, 12 2020).
Highlight exploration between 2000 to 2008: 4.9 g/t palladium-platinum from a 4 to 5-metre wide zone;
3 g/t palladium + 1.4 g/t platinum + 0.12 rhodium in 2005; 2.5 g/t palladium-platinum from a newly discovered 500-metre long zone in 2006; all consisting of blast pit grab sampling. The Company cautions investors that grab samples are selected samples and are not necessarily representative of mineralization.
EBAY drilling in 2006 intersected 1.90 g/t palladium-platinum over 3.0 metres from 80.5 metres to 83.5 metres. Further drilling discovered a new zone comprising 600 metres of strike, 120 metres deep, 6.7 metres to 31.1 metres wide, open in all directions, with highlight values of 2.52 g/t palladium-platinum. Subsequent aero-magnetic survey extended the target zone to 4.8 km of strike (news release March 25, 2020). Max is planning an exploration and drilling program.
About Max Resource Corp.
With its successful exploration and management team, Max Resource Corp. is advancing both its copper, silver and precious metals landholdings in the mineral-rich belts of Colombia, and its EBAY palladium-platinum landholdings in Quebec, Canada. Each of these belts has potential for the discovery of large-scale mineral deposits attractive to major partners.
Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, is the Qualified Person who has reviewed and approved the technical content of this news release on behalf of the Company.
For more information visit: https://www.maxresource.com/
For additional information contact:
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Max Resource Corp. E: info@maxresource.com
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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
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