{kanada_flagge}With a broad chest, Max Resource (TSX.V: MAX; OTC: MXROF; FRA: M1D2) is advancing exploration at its URU copper discovery in northeastern Colombia. The company has just raised a total of CAD 21 million in capital from the market – without a single drill hole – and already the first interim results indicate that the high-grade copper discovery at URU is rapidly growing in size: 750 meters from the previously known mineralization, the company has now discovered a 15-thickness copper-silver outcrop. This new discovery lies on an easterly extension on the suspected trend of the URU discovery. Field teams are now in the process of tracing the new 750m mineralized trend. To date, all indications are that the URU discovery and the new outcrop represent the same copper-silver mineralized structure dipping south and extending east-west (see Figures 2, 3 and 4). Samples were taken from the new outcrop at 1.0 m intervals. Assay results are pending.
Figure 1: Geologists suggest that the high-grade URU copper discovery continues eastward for a distance of 750 meters.
As before, exploration on the 20 kilometer URU zone is in its infancy. URU is only the southernmost of four projects to date along the 90 kilometer long Cesar Sedimentary Basin being explored by Max Resource. Cesar is located along the copper-silver-rich, 200-kilometer-long Cesar Basin in northeastern Colombia. This region benefits from access to key infrastructure resulting from oil and gas and mining operations, including Cerrejón, the largest coal mine in South America owned by Glencore. Max’s mining concessions cover an area of more than 180 square kilometers. Max recently entered into a collaboration agreement with Endeavour Silver Corp (TSX: EDR, NYSE: EXK) that will assist Max in further significantly expanding its land holdings at Cesar
Figure 2: New discovery – outcrop with 15 meters of vertical thickness.
The URU discovery now extends 290 meters to the north-northeast and 750 meters to the east, with a combined vertical elevation profile of 322 meters. In the original URU discovery, channel sampling had yielded the following values: At the valley bottom, samples returned 7.0 m at 8.5% copper + 143 g/t silver (true width); 6.0 m higher samples returned 16.8 m at 8.3% copper + 146 g/t silver (true width); and 190 m above the valley bottom and 290 m north-northeast of the valley bottom, channel samples returned 48.0 m at 5.3% copper + 44 g/t silver (along a ridge). The newly discovered mineralized outcrop, located 750 m east of the URU discovery, is +15 m thick, pending assays.
IP measurements and ground magnetic survey underway
Max Resource has commenced an induced polarization and ground magnetic survey over the URU Discovery zone. This survey will be part of the drill planning and targeting of the high grade copper-silver mineralization (see Figure 2).
Figure 3: In order to make the IP geophysical measurements, dense vegetation along the planned lines must be removed. Highlighted in yellow is the suspected strike length of 750 m.
Brett Matich, CEO of Max explained, “The goal of the field work and geophysical survey is to expand URU Discovery’s footprint and prepare for drill holes.” He added that they have already engaged a Colombian drilling contractor.
Bottom line: exploration at Max Resource must be a feast for the geologists involved. Time after time, you find a new high-grade thick structures with copper mineralization – and on the surface. The only reason these deposits have not been discovered long ago is the dense vegetation. The ease of finding could translate into the ease of mining later. Max Resource would do well to consolidate its discoveries with geopyhsical data first. Only then will the company drill. The company has the money to do so and the right partners as well. It’s a pleasure to accompany Max on his journey. We’re only at the beginning, but Max seems to have what it takes to become something really big.
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