MAX Resource Corp. Provides Gold and Platinum Sample Analysis and Exploration Update
TSX VENTURE: MXR
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2019) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D1) (the "Company") is pleased to provide a sample analysis and exploration update for the Company's 1,757 sq. km "Choco Gold and Platinum Project", located 100km SW of Medellin, Colombia.
- MAX continues to process 25kg to 50kg sample lots from the 2500 kg of gold-bearing conglomerate from each of the six conglomerate test pits;
- This on-going analytical testing of the 25kg to 50kg samples continues to show free gold + free platinum in most of the samples processed;
- Subsequent further processing of the panned concentrates has proven to be a challenge as most of the fine gold observed in the panned concentrates does not appear in the concentrates, once the follow up processing is completed;
- Detailed investigation has indicated, due to the fine nature or particle size of the gold grains, all the fine gold in the sample could not be collected for analysis, as free gold was observed washed away in the processing water, the samples processed to date are therefore compromised;
- Testing is progressing towards optimizing recovery of the fine gold; MAX will provide further updates as received.
It is important to be aware that the conglomerate geological model has only recently been identified. MAX has experienced sampling inconsistences not previously encountered, this has resulted in on going changes and refinements in the processing of the conglomerate samples. Management anticipates the technical team will resolve the processing inconsistences in the near future.
While awaiting the test results of the conglomerates, exploration continues at Choco. The MAX team has refined its exploration strategy to focus on locating enrichment zones, by conducting sample analysis on the weathered material, that overlays the conglomerates. The gold in the weathered conglomerate appears coarser in nature.
The relevance of identifying the surface zones is the enrichment zones should continue at depth. As originally theorized, the entire system was essentially in-situ. The field team expects to then zero in on the underlying conglomerate (hard-rock) enrichment zones over the 1,757 sq. km property, including the 1,000 sq. km exploration area. Results will be released as received.
MAX CEO Brett Matich commented. "We remain excited with the free gold + free platinum observed in most of the 25kg to 50kg samples processed to date and we will continue to advance our objective of optimizing recovery of the fine gold and platinum from the conglomerates." He continued, "I have no doubt the revised exploration strategy will successfully identify the underlying conglomerate enrichment zones."
About MAX Resource Corp.
MAX is a mineral exploration company focused on the development and acquisition of prospective projects in the rich mineral belts of Colombia. The Company has established significant exploration infrastructure and local community support for the Choco Gold and Platinum Project, located 100 km south of Medellin, which covers or is adjacent to historic production of 1.5Mozs gold and 1.0Mozs platinum. The Company's Gachala Copper Project, is located 60 km east of Bogota. The Company is led by a seasoned management team with a track record of significant discovery and exploration success.
Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd.)
MAX cautions investors it has yet to verify the historic information.
Tim Henneberry, PGeo (British Columbia), a member of the MAX Resource advisory board, is the qualified person who has reviewed and approved the technical content of this news release on behalf of the company.
For more information visit: https://www.maxresource.com/
For additional information contact:
MAX Resource Corp.
T: (604) 290-8100
For MAX Resource's French inquiries:
Remy Scalabrini, Maricom Inc.
T: (888) 585-MARI
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release. Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for UXD described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com