Max Resource reports 3% Cu in meter thick copper shale sediment

The copper schists in Europe are famous, at least among geologists. There are several reasons for this: They are the largest copper source in Europe and come from a layer of sediment that, in geological times, was deposited on the seabed like a carpet under the exclusion of oxygen. This fact, combined with the comparatively high ore grades of around 1.5% copper and almost 50 g / t silver as well as thicknesses of 0.5 to 5.5 meters, require a completely different form of exploration than deposits of volcanic origin. Basically, drilling is about verifying the continuity of the deposit and its thickness.

It is exactly based on this model, which has been tried and tested in Europe Max Resource (TSX-V: MXR, OTC: MXROF, Frankfurt: M1D2) now to the exploration of the copper shale in Colombia. The first results stop: The company has just published representative samples along a 250 meter long corridor from the Herradura zone near AM North (see Figures 2 and 3) in the 100% company-owned CESAR project. The results suggest that the copper shales in Colombia may be thicker and richer in copper than the European ones. However, Max Resources expressly advises investors of the selective nature of the rock sampling. The actual thickness of the copper-silver horizon has yet to be finally determined (see Figures 3 and 4). The numbers are still impressive:

• 5.8% copper and 51 g / t silver over 25 m (# 875507)

• 5.2% copper and 58 g / t silver over 25 m (# 875503)

• 3.3% copper and 32 g / t silver over 25 m (# 875504)

• 2.4% copper and 23 g / t silver over 25 m (# 875508)

• 0.9% copper and 7 g / t silver over 25 m (# 875505)

• 0.5% copper and 5 g / t silver over 25 m (# 875506)

Each sample was taken from an available outcrop over a 25 meter section and reassembled into a sample. The average grade on the 250 meter interval is 3.0% copper and 29 g / t silver.

The company considers these results to be extremely significant as they clearly demonstrate the continuity of copper-silver mineralization over an interval of 250 meters. The angle of repose and incidence of the copper-silver horizon appear to be nearly parallel, meaning that the mineralization is exposed at the surface. The lack of visible copper oxides (malachite or azurite) in these samples indicates that the dominant copper mineral is probably chalcosine, which has a higher copper content (80%).

According to interpretations, the copper-silver mineralization at AM North in the CESAR project is stratified and embedded in fine-grained sediments: sandstone and siltstone. The copper-silver mineralization at AM North generally strikes 245 degrees and dips slightly to the northwest. The AM South copper-silver zone at CESAR is located 40 kilometers south-southwest of AM North along the same mineralized trend.

The company believes that the stratified copper-silver mineralization at CESAR is analogous to the European copper shale deposits, the largest copper source in Europe. These deposits recorded production of 3 million tonnes in 2018 grading 1.49% copper and 48.6 g / t silver from a mineralized zone ranging from 0.5 to 5.5 meters in width. Source: “The Kupferschiefer Deposits and Prospects in SW Poland: Past, Present and Future” by, September 27, 2019.

The copper shale deposits delivered 40 million ounces of silver in 2019 – almost twice as much as the production of the second largest silver mine in the world (World Silver Survey 2020). Max advises investors that the presence of stratified copper-silver mineralization in copper shale does not necessarily indicate similar mineralization at CESAR.

“Although the geometry of the outcrops indicates that the copper-silver horizon is nearly parallel to the slope of the bank, we are very confident about the distribution of copper-silver mineralization that continues over 250 meters of the horizon,” said Brett Matich, CEO of Max.

“Max’s field team continues to make discoveries to underpin our copper-shale-type geospatial model for CESAR as we significantly expand mineralization at CESAR and work towards our goal of delineating a large copper-silver-copper-shale-type deposit,” said Mr. Matich continue.

Figure 1. CESAR site plan Figure 2. AM North, Herradura zone

Figure 3. AM North, Herradura Zone: 3.0% copper and 29 g / t silver over 250 meters

Figure 4. Herradura landscape: 3.0% copper and 29 g / t silver over 250 m

Copper-silver project CESAR (Colombia)

The 100 percent company-owned CESAR project in northeast Colombia stretches along a 120-kilometer-long copper-silver belt surrounded by sediments, which is similar to copper shale in Poland. The CESAR region has a comprehensive infrastructure. Mining operations include Cerrejón, the largest coal mine in Latin America, jointly owned by global mining companies BHP Billiton, Xstrata, and Anglo American (Figure 1).

Exploration work is taking place on several fronts:

AM North forms a broad, 11 kilometer zone of stratified copper-silver mineralization that is open along strike and down dip. The zone also contains a high grade area with different intercepts grading 4.0 to 34.4% copper and 28 to 305 g / t silver as of July 29, 2020. Two bulk samples, taken at either end of the 1.8 kilometer discovery horizon, returned 9.4% copper and 79 g / t silver, and 3.5% copper and 29 g / t silver as of May 21, 2020.

The AM South Zone is 40 kilometers south-southwest of the AM North Zone. The AM South Zone extends over an area of ​​four by four kilometers and is still open on the sides. The total strike length of AM South’s open horizons is over 6.4 kilometers with peaks of 6.8 percent copper and 168 grams of silver per ton at intervals of 0.1 to 25 meters, indicating that these horizons are could be of considerable size (October 7, 2020).

Geochemical and mineralogical research programs at the University of Science and Technology (the “AGH”) in Krakow, Poland are underway. AGH will contribute its extensive knowledge of the world-famous copper shale-sediment-copper-silver deposits of KGHM in Poland to the CESAR project.

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