Max Resource Corp (TSXV: MXR) this morning indicated it has received further mining concession contracts at its flagship Cesar North project in Colombia. Awarded in late 2021, the firm received a total of 15 additional contracts.
The mining concession contracts are significant for the company, as they enable more in-depth exploration to occur, while paving the way for drill testing of the firms property. The additional contracts bring the total to 19 mining concession contracts that were awarded to Max Resource in 2021, all of which were awarded in November and December.
Collectively, the concessions cover an area of 186 square kilometres, and extend for 45 kilometres along the Cesar North belt. Additional concessions are said to be pending for the company as well.
Looking forward, the firm is planning on conducting a 290 square kilometre survey this year, the results of which will be used for drill design and further exploration targets. In terms of targets, the company currently has five targets at the URU zone which it intends to drill this year. The company is also looking to expand both the Conejo and the URU zones via further exploration, while also conducting geophysical surveys.
“URU is to be the first significant drilling event on this previously unrecognized copper-silver belt, since the discovery of Cerrejón, the largest coal mine in South America and the reasons for much of the critical infrastructure in the CESAR basin,” commented Brett Matich, CEO of Max Resource Corp.
Max Resource Corp last traded at $0.23 on the TSX Venture.
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