Max Resource Corp (TSXV: MXR) released further results from its Cesar Copper-Silver property, located in Colombia this morning. The results come from the Herradura Zone, within the AM North portion of the property. Highlights from the data released this morning include an assay of 5.8% copper and 51 g/t silver over 25 metres from a representative grab sample.
With all results reported this morning coming from grab samples, the samples are said to be from a series of 25-metre samples taken over 250 metres, with the results said to be representative of the mineralization of the zone. Each sample was taken from the outcrop over these intervals, with all samples collected combined into one sample, resulting in an average grade over 250 metres of 3.0% copper and 29 g/t silver.
Highlights from the sample include the following.
- 5.8% copper + 51 g/t silver over 25-metres (#875507)
- 5.2% copper + 58 g/t silver over 25-metres (#875503)
- 3.3% copper + 32 g/t silver over 25-metres (#875504)
- 2.4% copper + 23 g/t silver over 25-metres (#875508)
- 0.9% copper + 7 g/t silver over 25-metres (#875505)
- 0.5% copper + 5 g/t silver over 25-metres (#875506)
“While the geometry of the outcrop exposures indicate that the copper-silver horizon appears to be close to paralleling the slope, we are extremely encouraged to see the distribution of copper-silver mineralization that continues along 250-metres of the horizon. The Max in-country field team continues to make discoveries, further substantiating our Kupferschiefer-style geological model for CESAR, as we significantly expand the CESAR mineralization working towards our goal of a major Kupferschiefer copper silver deposit.”Brett Matich, CEO
This grab rock sampling is said to allow the company to identify the mineralized intervals on the property. These intervals are then to be followed up with mapper and systemic chip channel sampling. Current priorities for the Cesar project include surface geochemical sampling, structural mapping, seismic data interpretation, and logging of the oil-gas drill hole core chips.
Results released this morning demonstrate the persistence of mineralization over 250 metres, as per Max, with mineralization showing to crop out at surface. The company is currently working under the assumption that the dominant copper mineral is likely chalcocite, which is a positive as it contains an 80% copper content.
The announcement of the strong assay results this morning follows the news earlier this week of the company closing a $6.5 million oversubscribed private placement. The financing notably saw famed mining financier Eric Sprott take a 9.6% stake in the company.
Max Resources last traded at $0.30 on the TSX Venture.
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