Max Resource (TSXV MAX / Frankfurt M1D2) can once again report positive news for its subsidiary Max Iron Brazil, which plans to go public on the Australian stock exchange in the second quarter of 2025. It has now been announced that successful results were achieved in iron ore recovery and extraction using dry magnetic tests on material from the Florália hematite DSO project in Brazil!
Preliminary tests, the results of which Max Iron presented at the end of March, had already been successful, leading to further samples being taken from the project, which is located less than 70 kilometers east of Belo Horizonte in the mining state of Minas Gerais.
These included six rock samples (FL-001 to 006) weighing 80 kg each from across the entire Florália property area. Each sample was crushed into three grind sizes of 12 mm, 6 mm, and 2 mm to undergo dry magnetic testing at the Brazilian laboratory Inbras (manufacturer of dry magnetic systems). Sample (FL-005) was divided into two equal parts for internal control.
The highlights of the test results were
FL-001: 69.5% Fe with a recovery of 81% from a 59.7% 6-mm grind size (1500, 2500, 7500 Gauss)
FL-002: 66.9% Fe with a recovery of 73% from a 59.7% 6-mm grind size (1500, 2500, 7500 Gauss)
FL-003: 68.7% Fe with a recovery of 78% from a 64.9% 2-mm grind size (1500, 2500, 7500 Gauss)
FL-004: 61.8% Fe with a recovery of 76% from a 57.5% 12-mm grind size (2500, 7500 Gauss)
FL-005: 60.2% Fe with 78% recovery from a 46.2% 6-mm grind size (1500, 2500, 7500 Gauss)
FL-006: 59.3% Fe with 67% recovery from a 47.8% 2-mm grind size (1500, 2500, 7500 Gauss)
As Max CEO Brett Matich explained, the results of the dry magnetic tests represent a great success for the company, as high-grade iron ore contents were achieved that are significantly above the benchmark of 62% iron (Fe). Mr. Matich also considers the previously published trench sample results as significant. These were taken from the entire banded iron formation, with 131 out of 174 samples containing values between 50 and 61% iron. Now, the Max CEO continued, the company is looking forward to the results of its initial drill program at the Florália DSO project.
Decisive Advantages over the Competition
As Goldinvest.de has reported several times, the Florália DSO project is stands out clearly when compared to similar assets. Florália has strategic advantages compared to other iron ore DSO projects. In particular, the location of the site and the existing infrastructure give the project and Max a decisive advantage – especially the existing 15-kilometer rail connection to numerous steel mills and ports. And not to mention direct road connections to established DSO buyers such as Vale (16 kilometers northwest) and ArcelorMittal (26 kilometers northeast)!
In this respect, we are convinced that Max Iron Brazil will generate great interest with its IPO on the Australian ASX – the symbol MAX is already reserved for the company – which is planned for the current second quarter. Especially since investors Down Under are well-versed in the topic of iron ore.
