Max Resource: Further analogies to European copper slate confirmed – columns

Analysis of historical drill cores from oil and gas exploration in the sedimentary basin in northeastern Colombia strongly suggests that the surface copper-silver mineralization horizon is on the CESAR project of Max Resources (TSX.V: MXR; FRA: M1D2) continues sloping down over many kilometers. Max Resources thus once again confirms the analogy of the Colombian copper shale to the corresponding copper shale deposits in Europe.

Brett Matich, CEO of Max Resource said, “The XRF analysis confirms that the CESAR project is a regional stratified copper-silver system that corresponds to the world-class copper shale deposits in Poland.”

Last year, Max was able to demonstrate the regional extent and lateral continuity of the stratified copper-silver mineralization at CESAR, which has been traced for more than 200 kilometers in strike direction. The continuity of this mineralization has now been demonstrated in the historic drill core which extends to depths of more than 400 meters.

As reported, Max Resources works closely with the Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”). Employees of the university examine the historical drill cores with favorable stratigraphy from the Jura using XRF analysis for increased copper values ​​(see press release from Max from December 8, 2020).

Max will continue the drill core analysis and produce a 3D structural model of the copper shale horizon. In particular, this should make it possible to trace the copper slate back to the point where it came to the surface. Max Resources intends to use the data in particular for further expansions of its license area and for the ongoing copper-silver exploration program at CESAR.

Figure 1. Interpretation of the stratified copper-silver horizon based on the XRF values ​​and the seismic sections with the projection of the mineralized horizon on the surface.

Figure 2. Drill core from the Cesar Basin in Colombia with gray, copper-enriched sandstone identified by XRF analysis. Examination of the drill cores includes core logging, XRF analysis, binocular microscopic examination and photography.

The copper-enriched sections of the historical drill cores are embedded in gray sandstone, the color of which changes to red (hematite-rich) in areas without copper enrichment. This zone formation between red sandstone with hematite enrichment and gray sandstone is typical for the copper shale deposits in Poland and represents a reducing milieu in which copper was precipitated from the solution to form the copper-silver deposits copper shale.

The copper shale deposits, Europe’s largest copper source, produced 3 million tons of copper with a content of 1.49 percent copper and 48.6 grams of silver per ton from a 0.5 to 5.5 m thick ore horizon in 2018. In 2019, the copper shale deposits also returned 40 million ounces of silver, almost twice as much as the world’s second largest silver mine.

At the 2020 Colombia Gold Symposium in Medellin, Professor Adam Piestrzynski, a leading copper shale expert, pointed out numerous similarities between CESAR and copper shale. These are basin properties, lithology, mineralogy, deposit parameters, grades and sulfur origin. The Polish copper shale ore bodies are 500 meters below the surface, while the copper-silver mineralization in Max’s CESAR project is exposed to the surface.

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