Max Resource Corp (TSXV: MXR) this morning provided an update to the market in relation to its Cesar copper-silver project in Northern Colombia. After analysis by AGH-University of Science and Technology of Krakow, Poland, it has been confirmed that silver is present at its flagship program in the form of silver-bearing copper sulfides and native silver within the AM South zone.
The announcement is significant, as it puts the company one step closer to confirming that the deposit on its property is similar to that of the Kupferschiefer deposit in Poland. The significance of this is Kupferschiefer is the largest copper deposit within Europe, with the operation in 2018 producing 30 million tonnes of rock grading 1.49% copper. The deposit is also the worlds largest silver producer, with those 30 million tonnes of rock grading 48.6 grams per tonne silver, resulting in 40 million ounces being produced at the deposit last year.
Kupferschiefer’s silver occurs most commonly in the copper sulfides chalcocite and bornite, as well as in the form of native silver and amalgamats of silver-mercury.
The study was conducted by the University following samples being collected at Max’s AM South deposit that were then sent for mineralogical study. Silver bearing chalcolite and covellite as well as native silver was found using energy dispersive spectroscopy.
The initial study results from AGH are significant as they identified the presence silver-bearing chalcocite and covellite as well as native silver at AM South. Silver is a key component of stratabound copper deposits, so we are extremely pleased with CESAR’s silver content. The presence of silver further substantiates a Kupferschiefer type system at CESAR. Our on-going exploration programs continue to meet Company expectations and support management’s belief in the presence of a significant stratabound copper-silver system at CESAR.Brett Matich, EO of Max Resource Corp
Max Resource Corp last traded at $ on the TSX Venture.
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