Max Resource Corp. (TSX.V: MAX; OTC: MXROF; FRA: M1D2) has already received six permit applications this year for mining concessions in the copper-silver-rich Cesar Basin in northeastern Colombia, and has made a number of other significant discoveries on the new licenses. In particular, the AM-7 target in the north of the Cesar Basin appears to be a significant discovery.
The AM-7 mineralized horizon is a tabular body ranging in thickness from 0.3 m to 2 m, extending over 1600 m along strike and open in all directions. AM-7 comprises five historic open pit copper workings extending over 700 m. The primary copper mineral is chalcocite (80% copper by weight) with minor malachite. Rock chip and channel samples have been collected throughout the outcrop area; results are pending.
The AM-7 target is Max's seventh discovery in the so-called AM district. The total number of copper-silver targets on the Cesar project is now 21, with licenses totaling 188 km². (Figures 1 and 2)
Brett Matich, CEO of Max commented, "AM-7 appears to be a significant discovery with the potential for multiple overlying mineralized horizons over an impressive strike length of at least 1,600 m and open in all directions. To date, Max has identified 21 copper-silver targets in three districts spanning 90 km of the Cesar copper-rich basin: AM, URU and Conejo."
Figure 1: Map shows the 90-kilometer-long Cesar Basin in northeastern Colombia with the three copper districts identified to date: Uru, Conejo and AM.
Figure 2: Seven new discoveries have now been reported on the AM project over a strike length of approximately eighteen kilometers.
At AM-7, channel and chip samples have been collected at intervals along the entire length of exposed mineralization. Assay results are expected in the coming weeks and will help determine the next steps in evaluating the AM-7 target.
The AM-7 target represents classic stratabound copper-silver mineralization occurring in interbedded mudstone, siltstone and fine-grained cross-bedded red sandstone of the La Quinta Formation. The mineralized horizon is a tabular body ranging from 0.3 m to 2 m wide and extends for 1600 m along strike. Chalcocite is the main copper-bearing mineral in the deposit and is concentrated along the stratigraphic layers and as disseminated grains. Malachite and azurite were also observed. Carbonaceous material was associated with all mineralized layers.
Figure 3: Copper mineralization at AM-7 begins directly at surface and is easily traced in tabular sedimentary layers.
Summary: Max Resource is one of the first companies to pursue the enormous copper potential along the Colombian foothills of the Andes. To date, this part of the country has been primarily oil, gas and coal producing, which has led to good development of the area by companies such as Chevron and Glencore. Copper mineralization at AM-7 starts right at the surface and is easily traced in sedimentary layers. Similar copper shales are mined in Europe, among other places - but there at depths of up to 500 meters.
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