Large Areas with Productive Copper-Silver Mineralization
Max Resource Corp. (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) has quickly discovered five additional mineralized outcrops on its AM mining concession in the northern part of the regional Cesar copper-silver project in northeastern Colombia (see Figure 1). The 5 new outcrops show stratiform copper-silver mineralization and are located in the so-called AM-14 target area. The outcrops have been exposed along their strike for 130 to 285 m and have a thickness of 0.8 m to 4.0 m. The total exposed area is approximately 1,000 m². The company sees strong indications that the new discoveries are a continuation of the same mineralized horizon as the AM-07 target, which is located about 1.5 km to the northeast. This insight supports the company’s interpretation that the copper-silver-bearing layers in the AM district are continuous over long distances.
Brett Matich, CEO of Max Resource commented: “We continue to systematically find significant, high-grade structurally controlled and stratiform copper-silver mineralization right at the surface. This reinforces our belief that our Cesar project is getting closer to realizing its potential for significant deposits. The AM-14 mapping and sampling outlines an area of approximately 600 to 1000 meters by 1000 to 1200 meters, which supports our conviction that Cesar is a regional or district-wide copper-silver target, as opposed to a collection of smaller, disconnected zones.”
All five exposed mineralized layers are open along strike. Systematic sampling of the mineralized outcrops continues. In addition, crews are working on detailed mapping to trace the footprint of the mineralization.
Conclusion: Max Resource has identified a total of 28 targets along a 120 km long regional copper belt in the three districts of AM, Conejo, and URU on its Cesar copper-silver project. Although only a fraction of the basin has been explored so far, the company has demonstrated that the logistically well-developed Cesar Basin as a whole contains large areas with productive copper-silver mineralization. Recently, Max has focused on the near-surface, stratabound copper occurrences in the northern AM district. The recent discoveries there suggest that the sedimentary horizon containing the copper mineralization could continue on a large scale. In its press release, the company already draws geological parallels to one of the world’s largest new copper projects, Kamoa Kakula in Congo. It should not be forgotten that the Cesar project forms the extension of the Andean Belt, one of the world’s largest producing copper belts. Despite its successes, Max is trading near a 52-week low of 0.09 CAD on the stock exchange. The market value has shrunk to around 15 million CAD. According to the latest available quarterly report as of September 30, 2023, the company had liquid assets of 8,668,411 CAD.
