Vancouver - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ('Max' or the 'Company') is pleased to report initial assay results for 'SP', a new target located midway along the CESAR North 80-kilometre-long belt, in line with the four previous discoveries the URU, CONEJO, AMN and AMS zones, within the wholly-owned CESAR project in North Eastern Colombia.
Presently, the SP target spans over 1.6-kilometres and is open in all directions. The reconnaissance composite grab sampling over 25-metres averaging 4.8% copper and 51 g/t silver is considered very significant, as is indicates the presence of a higher copper and silver grades within each 25-metre interval. This first pass sampling program is to be followed up with trenching and detailed chip channel sampling.
'In 2021 alone, Max's in-country team have now identified three new copper-silver discoveries spanning along the CESAR North 80-kilometre-long belt, showing the importance of identifying the extent of the copper-silver rich mineralization,' commented Max CEO, Brett Matich.
'In addition to these new results, Max looks forward to reporting continued results from the CONEJO and URU zones located along the CESAR North 80-kilometre-long copper-silver belt,' he continued.
'World demand for copper continues to increase because it is the key metal for the green revolution's move to electric vehicles, solar, wind and clean power grid infrastructure. Combined with copper's declining reserve base, new discoveries of copper are essential to replace depleting reserves. The potential district-size of the CESAR discoveries positions Max to take advantage of the copper shortfalls,' he concluded.
Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar basin to be analogous to both the Central African Copper Belt (CACB) to the south and the Polish Kupferschiefer to the north. Almost 50% of the copper known to exist in sediment-hosted deposits is contained in the CACB, including Ivanhoe Mines Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula copper deposits in the Congo.
Kupferschiefer, the world's largest silver producer and Europe's largest copper source, is a mining orebody of 0.5 to 5.5-metres thick at depths of 500-metres, grading 1.49% copper and 48.6 g/t silver. The silver yield is almost twice the production of the world's second largest silver mine.
All CESAR rock chip samples are shipped to ALS Lab's sample preparation facility in Medellin, Columbia. Sample pulps are then sent to Lima, Peru, for analysis. All samples are analyzed using ALS procedure ME-MS41, a four-acid digestion with inductively coupled plasma finished. Over-limit copper and silver are determined by ALS procedure OG-62, a four-acid digestion with an atomic absorption spectroscopy finish. ALS Labs is independent from Max.
Max uses standard chip and channel sampling where possible, but also relies on composite grab sampling. Max considers composite grab samples to be representative but cautions investors that individual grab samples can be selective and may not be representative of continuous mineralization at CESAR.
ABOUT MAX RESOURCE CORP.
Max Resource Corp. is a copper and precious metals exploration company, engaged in advancing both the newly discovered district-scale CESAR copper-silver project (100% owned) in Colombia and the newly acquired RT Gold project (100% earn-in) in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both stratabound-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.
Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50 for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.
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Except for statements of historic fact, this news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.