- Max Resource (MXR) has assayed 3.3 per cent copper over 15 m at its Cesar Project in northeastern Colombia
- The result stems from a reconnaissance sampling program at the Conejo Zone, which has returned 44 rock samples over 3 per cent copper to date
- Exploration is ongoing at the Conejo and Uru zones, with the company having initiated drill permitting and mineral claim approvals
- Max Resource is a copper and precious metals exploration company focused on projects in Colombia and Peru
- Max Resource (MXR) is up by 6.82 per cent and is currently trading at $0.235 per share
Max Resource (MXR) has assayed 3.3 per cent copper over 15 m at its Cesar Project in northeastern Colombia.
The result stems from a reconnaissance sampling program that expanded the Conejo Zone along Cesar North’s 90 km belt. The Cesar Project lies along the copper-silver rich 200 km Cesar Basin.
Highlights
- 3.3 per cent copper and 5 g/t silver outcrop over 15 m
- 2.8 per cent copper and 13 g/t silver outcrop over 20 m
- 1.1 per cent copper and 1 g/t silver outcrop over 15 m
- 4.4 per cent copper and 54 g/t silver outcrop over 1.5 m
The Conejo Zone now spans 3.2 km by 1.9 km and remains open in all directions.
To date, 44 rock samples have returned values over 3 per cent copper, 55 returned over 2 per cent copper and 21 returned over 30 g/t silver, with intervals ranging from 0.3 to 20 m. The upper bound of these results includes 12.5 per cent copper and 120 g/t silver.
Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar Basin as analogous to both the Central African Copper Belt (CACB) in the south and the Polish Kupferschiefer in the north.
The CACB contains almost 50 per cent of the copper known to exist in sediment-hosted deposits, including Ivanhoe Mines’ Kamoa-Kakula in the Congo.
Kupferschiefer – the world’s largest silver producer and Europe’s largest copper resource – is a mining orebody ranging from 0.5 to 5.5 m thick, at depths of 500 m, with grades of 1.49 per cent copper and 48.6 g/t silver.
Exploration is ongoing at the Conejo and Uru zones, the latter residing 30 km south of Conejo with assay values up to 14.8 per cent copper and 132 g/t silver. Max has also initiated drill permitting and mineral claim approvals.
Brett Matich, Max Resource’s CEO, stated,
“The Conejo continues to develop to the point where Max is considering it as a significant stand-alone copper project. We look forward to assay results from the Conejo high-grade zone, expected shortly.
Concurrently, the Max technical team has commenced a targeted exploration program over the 48-km² Uru Zone, as well as prospecting the favourable horizons further into the Cesar Basin.
The price of copper continues to rise, reaching an all-time high of US$4.79 per pound this week, driven by the insatiable demands of the green revolution and the ever-depleting copper reserve base. Max shareholders are well-positioned to take advantage with significant potential for district-scale discoveries throughout the Cesar Basin.”
Max Resource is a copper and precious metals exploration company focused on projects in Colombia and Peru.
Max Resource (MXR) is up by 6.82 per cent and is currently trading at $0.235 per share as of 9:47 am ET.