- Max Resource (TSXV:MAX) announced promising results from its dry magnetic test work for the Florália Hematite Direct Shipping Ore (DSO) project
- The company reported significant iron ore recovery from various fraction samples, showcasing the potential of the project
- Max Resource has secured funding from Freeport McMoRan, with an approved exploration budget of US $4.8 million for 2025
- Max Resource stock (TSXV:MAX) last traded at $0.04
Max Resource (TSXV:MAX) announced promising results from its dry magnetic test work for the Florália Hematite Direct Shipping Ore (DSO) project, located 67 km east of Belo Horizonte, Minas Gerais, Brazil. The company reported significant iron ore (Fe) recovery from various fraction samples, showcasing the potential of the project.
Highlights of the test results
- FL-001: 69.5 per cent Fe at 81 per cent recovery from a 59.7 per cent 6mm fraction sample (1500, 2500, 7500 Gauss)
- FL-002: 66.9 per cent Fe at 73 per cent recovery from a 59.7 per cent 6mm fraction sample (1500, 2500, 7500 Gauss)
- FL-003: 68.7 per cent Fe at 78 per cent recovery from a 64.9 per cent 2mm fraction sample (1500, 2500, 7500 Gauss)
- FL-004: 61.8 per cent Fe at 76 per cent recovery from a 57.5 per cent 12mm fraction sample (2500, 7500 Gauss)
- FL-005: 60.2 per cent Fe at 78 per cent recovery from a 46.2 per cent 6mm fraction sample (1500, 2500, 7500 Gauss)
- FL-006: 59.3 per cent Fe at 67 per cent recovery from a 47.8 per cent 2mm fraction sample (1500, 2500, 7500 Gauss)
The dry magnetic test work was conducted at Inbras Laboratory in Brazil, a manufacturer of dry magnetic units. The samples were crushed into three fractions: 12mm, 6mm, and 2mm, and tested under varying magnetic intensities (1500, 2500, and 7500 Gauss).
“The dry magnetic test work was a great success delivering high-grade Fe results well above the benchmark of 62 per cent Fe,” Max CEO, Brett Matich, commented in a media release. “The previously announced channel sampling results were significant, taken across banded iron formation, 131 of 174 returning values from 50 to 61 per cent Fe. We look forward to the initial drilling results due shortly.”
Exploration budget and objectives
Max Resource has secured funding from Freeport McMoRan, with an approved exploration budget of US$4.8 million for 2025. The exploration program at the Sierra Azul project aims to achieve three main objectives:
- Drill target development:
- Focus on priority targets in the AM, Conejo, and URU districts.
- Activities include detailed geological mapping, soil sampling, ground geophysical surveys, and structural analysis.
- District scale exploration:
- Systematic evaluation of the entire Sierra Azul project area.
- Soil and stream sediment sampling to identify additional priority targets.
- Collection of 3,646 soil samples at 50m intervals along lines spaced 2,000m apart, with 27 per cent of samples already collected.
- Basin scale analysis:
- Comprehensive analysis of the basin to understand the geological framework and potential mineralization zones.
Digging deeper ….
The successful iron ore recovery results from the Florália Hematite DSO project highlight the potential for high-grade iron ore production. With substantial funding and a well-structured exploration program, Max Resource Corp. is in a position to advance its projects and contribute significantly to the mining sector in Brazil.
About Max Resource
Max Resource is a junior copper miner advancing its district-scale Cesar copper-silver project in Colombia.
Max Resource stock (TSXV:MAX) last traded at $0.04 but is down nearly 71 per cent since April 2024.
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(Top image: Florália channel geochemistry, logistics, diamond and auger drill hole locations. Source: Max Resource Corp.)