Regional sampling identified the presence of several new outcrops of stratabound copper-silver mineralization, expanding the Herradura zone to over 5.7-km along strike and over 5.1-km down dip. The zone remains open along both strike and dip as the new horizons are interpreted as strike and dip continuations of Herradura.
Max believes CESAR is very similar to the Kupferschiefer. Those deposits are
In addition, a recent presentation by leading Kupferschiefer expert, Professor Adam Piestrzyski, identified numerous similarities between CESAR and Kupferschiefer including: basin characteristics, lithology, mineralogy, deposit parameters, grades and origin of sulfur. A notable difference is the Kupferschiefer orebody starts at 500-metres below surface, whereas Max's CESAR copper-silver mineralization starts at surface.
'Regional exploration has not only expanded the Herradura zone from 16 to 29 sq.km, but the zone still remains open along strike and down dip, demonstrating the significance and regional nature of the CESAR basin,' said Max CEO,
'As part of the structural modelling program, we plan to study historical core from oil & gas drill holes that intersect the Jurassic stratigraphy,' he continued.
'CESAR gives Max significant leverage to copper demand as prices have recently increased to
The new discovery, 1.5-km to the south of the main Herradura horizon is interpreted as the fault offset and down-dropped, up-dip continuation of the main Herradura horizon. Additionally, new mineralized outcrops were mapped and sampled approximately 3.5-km down dip from the main Herradura discovery zone. Both areas need additional structural mapping to determine the significance of this new discovery.
The copper-silver mineralization at the Herradura zone is of stratabound, Kupferschiefer type. Mineralization is hosted in fine-grained sediments: sandstone and siltstone, mainly represented by chalcocite and copper oxides (malachite and azurite). Based on field observations and mineralogical studies, the surface copper oxides phase out at shallow depth to copper sulphide, mainly chalcocite.
CESAR COPPER-SILVER PROJECT -
The CESAR project spans an area 500 sq.km in North Eastern Colombia, covering a major part of a 200-km long sediment-hosted copper-silver belt. The CESAR region enjoys major infrastructure as result of oil & gas and mining operations, including Cerrejon, the largest coal mine in
Max has entered into three non-exclusive confidentiality agreements regarding the CESAR project with: one of the world's leading copper producers; a global mining company and a mid-tier copper explorer.
The exploration priorities for the CESAR project are: regional geochemical sampling, structural modelling interpretation of seismic data, analysis of oil & gas drill cores and expansion of landholdings.
Exploration activities on multiple fronts include: AM North forms an 11-km long zone of stratabound copper-silver mineralization, open along strike and down dip, containing a high-grade area with varying intervals grading 4.0 to 34.4% copper + 28 to 305 g/t silver (
Fathom Geophysics is currently interpreting geophysical data funded by the Company in collaboration with one of the world's leading copper producers; Ongoing structural analysis and interpretation of seismic data is conducted by Ingenieria Geologica Universidad Nacional de
RT GOLD PROPERTY -
Max has the exclusive rights to acquire 100% of the RT Gold project, located within the Cajamarca Metallogenic belt, 760-km NW of
Two distinct mineralized systems occur within RT Gold: the
Cerro, hosts several known mineralized zones with anomalous concentrations of gold in rock and soils: Structures assay 0.1 to 62.9 g/t gold, hosted in wall rock returning gold values of 0.5 to 1.0 g/t gold; Soil geochemistry for gold in the
Intervals are core lengths not true widths, which are unknown at this time. Source: NI43:101
The Max in-country team plans to conduct a verification program and initiate drill permitting.
ABOUT
With its successful exploration and management team,
Contact:
Tel: (604) 290-8100
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
(C) 2020 Electronic News Publishing, source