Max Resource Corp (TSXV: MXR) is now one step closer to drilling out its flagship Cesar copper-silver project in Northern Colombia. The company this morning indicated that it has received its first mining concession contract for the property.
The mining concession contract specifically refers to the URU zone, which is located within the firms Cesar North property. Such a contract is valid for a period of thirty years, with an extension available for a second 30 year term, making such concessions valid for up to 60 years.
The receipt of the contract follows a public hearing held in the community and is said to be a key step in developing a plan for the firms first drill program and in acquiring the necessary drill permits.
“The Max technical team is now working in the field to identify drill targets over the approved Mining Concession Contract and continue to expand the 48-km2 URU zone, located along the southern portion of the 90-kilometre-
long CESAR North copper-silver belt,” commented CEO Brett Matich.
A timeline for the drilling of the property was not provided.
Max Resource Corp last traded at $0.19 on the TSX Venture.
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