Max Resource Corp (TSXV: MXR) has received three additional mining concession contracts in Colombia. The news follows the firm receiving its first such contract just weeks ago, after years of conducting sampling on its flagship property in the region, the Cesar copper-silver project.
The three new mining concessions, much like the one announced two weeks ago, are for the URU zone, which is part of the Cesar North property. The concessions are said to be contiguous and cover 70 square kilometres.
With concession contracts in hand, the company can now proceed with more in-depth exploration of the property. Next steps include conducting infill mapping and sampling of the entire concession area, following by ground geophysics to identify the best drill targets. From here, environmental surveys will be conducted for drill permitting, after which a phase one drill program will be conducted.
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“Achieving this critical milestone expedites Max’s first drill program at URU, being a significant event in the Cesar basin since the discovery of Cerrejón, the largest coal mine in South America and the basis for much of the critical infrastructure in the Cesar basin. Max’s exploration focus aligns directly with the Agencia Nacional de Minera’s strategy of copper exploitation and future development of the Cesar basin,” commented Brett Matich, CEO of Max Resource Corp.
Max Resource Corp last traded at $0.21 on the TSX Venture.
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