{kanada_flagge}Can Colombia compete with Congo’s copper wealth? It’s too early to say. Geologically, at least, it’s not out of the question, even though Colombia has been better known for its gold and coal mines to date. Systematic exploration for copper has never been pursued, in part because of recent political uncertainties. Copper explorer Max Resource (TSX.V: MXR; FRA: M1D2) is about to change that and is well on its way to proving the copper richness of Colombia’s northwest.
At four locations along the more than 90-kilometer-long Cesar Copper Corridor (see Figure 1), Max has so far found high-grade copper deposits in stratabound form. Geologically, Max interprets the sediment-bound, stratabound copper-silver mineralization in the Cesar Basin as related to the Central African Copper Belt in Congo and copper shale deposits in Poland.
Figure 1: URU site Figure 3. URU DT-3 samples.
Max Resources is currently systematically preparing the very first drill holes at its flagship URU project in northwestern Colombia. To date, the exploration team has identified location 5 drill target zones (DT-1 to DT-5) along a 15 kilometer strike on the URU mining concessions. URU is located at the southern end of the approximately 90 kilometer long Cesar Copper Belt that Max Resource has explored to date. The URU and Conejo targets have additional vertical structures, which is why Max will focus its future work here.
Max’s exploration team, led by noted geologist Chris Grainger, sees the potential for copper discoveries of significant size. The new assay results from the URU zone extend the high-grade DT-3 zone to a length of over 1.5 kilometers with peak values ranging from 5.9% to 14.8% copper and 19 g/t to 132 g/t silver. In addition, DT-3 now has a total length of 2.6 kilometers with values ranging from 1.0% to 14.8% copper from an elevation of 420 meters down to 700 meters and open in all directions.
Brett Matich, CEO of Max commented, “Max’s field teams are conducting systematic and methodical rock sampling and mapping programs to further define multiple drill targets located along a 15 kilometer strike on the URU mining claims. For maximum targeting accuracy of upcoming drill holes, Max Resources has commissioned a LiDAR survey in each of the 5 target zones.”
Figure 2: URU drill target zones (DT-1 to DT-5) over 15 km strike length – looking SE.
To date, extensive rock sampling programs over the past 6 months at URU have returned +1.0% copper over a vertical extent of +500 m along a major regional structural corridor linking the upper sedimentary dominated part of the Cesar Basin with the lower volcanic-sedimentary parts.
The structure at URU is interpreted to be a major feeder with a true thickness of +15 meters and significant copper-silver grades in breccias and fault/fracture zones that have considerable vertical extent as evidenced by recent field visits and sampling along a 15 km strike with elevations ranging from 400 m to +950 m a.s.l..
Figure 3: 14.8% Cu + 132 g/t Ag over 1.5 m x 0.8 m (876798) Figure 5. 14.8% Cu + 132 g/t Ag over 1.0 m x 1.0 m (876439).
Conclusion: copper grades at mines around the world are getting lower and lower. As a result, we have become accustomed to copper porphyry projects being considered economically interesting at grades as low as 0.5% copper. In contrast, Colombia, as a new territory for copper exploration, offers completely different values. Max Resources has demonstrated umpteen times that high-grade copper in stratabound form crosses the entire Cesar Basin. The challenge is the sheer size of the area combined with the fact that Max Resources is a true first mover. The URU and Conejo projects will be the focus for now. URU is expected to see its first ever drilling in the first quarter of 2022. Although Max Resources has not declared a resource, it would not be surprising if the company is already attracting interest from major mining companies. We trust Max Resources to positively surprise the market in the coming year.
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