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Max Resource Corp (TSXV: MAX) is reporting this morning that it has discovered a new copper-silver system at its CESAR project in northeastern Colombia. The discovery comes as the firm has been working on priority drill target selection.
The new system, referred to as AM-7 Target, is the seventh such discovery in the AM district, with total targets at the CESAR project said to now stand at 21. The target is found within one of six new mining concessions awarded to Max this year.
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AM-7 is reported to have a strike length of over 1,600 metres, with widths ranging from 0.3 metres to 2.0 metres. Five historic open cut copper workings are said to be included as part of the target, which extend over 700 metres,
Commenting on the discovery, Max CEO Brett Matich stated, “AM-7 appears to be a significant discovery with potential for multiple stacked mineralized horizons across an impressive strike length of at least 1,600m and is open in all directions. To date, Max has identified 21 copper silver targets through three districts that span over 90-km of the Cesar Copper Rich Basin: AM, URU and Conejo.”
READ: Max Resource Hits 3.4% Copper Over 10.6 Metres In Initial Drilling
Chip and channel samples have been collected along the length of AM-7, with assays slated to be received in the coming weeks. Preliminary data indicates chalcocite is the main copper-bearing mineral at the target, with minor malachite.
The discovery was made as part of an exploration program focused on identifying potential drill targets. Max is currently conducting systematic chip and channel sampling of mineralized outcrops, along with detailed geological and structural mapping. If warranted, trenching is being conducted to exposure further mineralization, while prospecting and soil sampling is also being conducted, along with ground geophysical surveys when appropriate.
Max Resource Corp last traded at $0.125 on the TSX Venture.
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