Vancouver, British Columbia--(Newsfile Corp. - June 6, 2018) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D)("MXR" or the "Company") is pleased to announce it has filed five initial mineral license applications covering a total area of 9,384 hectares, located within the Gachala sedimentary copper basin of Eastern Colombia, approximately 60kms east of Bogata (Refer: Gachala Project Area map).
MXR's Gachala 100% owned license applications encompass an aggregate total of 27 line kilometres of the 250km by 120km belt of Devonian through Cretaceous age rocks in a geological setting conducive to hosting sedimentary copper deposits, believed to be analogous to the Zambian Copper Belt of Africa. (Source: Rodriguez and Warden (1993). Overview of some Colombian gold deposits and their development potential. Mineralium Deposita Volume 28, pages 47-57). The Gachala mineralization appears to be localized at the contact between the Devonian-Permian red beds overlying Cretaceous reducing black shales, one of the settings typical of these copper deposits.
Brett Matich, MXR Chief Executive Officer, commented: "I am excited with our early success in developing MXR's strategy of identifying sedimentary copper hosted mineralization within the Gachala region. We believe the underexplored Gachala region has the potential to become the world's next copper frontier."
Three of the license applications cover a 19 kilometre long continuous section of the Cano Negro area, where historic sampling has identified a 25 kilometre strike length of copper enrichment with grades ranging from 0.6% to 13% copper. (Source: C. Rodriguez and A.J.Warden. 1993 Overview of Some Colombian Gold Deposits and Their Development Potential. Mineralium Deposita Volume 28, pages 47-57.) The Cano Negro area appears to lie on the eastern limb of the 32 kilometre "Anticlinal Montecristo".
The remaining two license applications cover the western limb of the "Anticlinal Montecristo" in the area adjacent to and immediately north of the Sinai Property where Rio Tinto Mining and Exploration Limited completed stream sediment and limited rock sampling in 1999. They took a total of 47 rock samples with 12 returning values in excess of 1% copper, ranging from 1.6% to 7.82%. (Source: E.E.Vargas Ruiz, 1999. Exploracion Geoquimica Chivor Colombia Rio Tinto Mining and Exploration Limited.) MXR cautions investors that mineralization on the Sinai Property is not necessarily indicative of similar mineralization on the MXR license applications. MXR's Gachala license application areas were visited by MXR Geologist R. Tim Henneberry, P.Geo. and Colombian Geologist Carlos Gaviria at the end of May during an initial reconnaissance. A Colombian exploration team under Mr. Gaviria will commence surface survey exploration programs mid-June to confirm the 1993 and 1999 sampling results and locate and identify bedrock copper mineralization for following up trenching and diamond drilling.
Gachala Project Area map
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About Max Resource Corp.
Max Resource Corp., a Canadian-based exploration company, is focussed on identifying advanced exploration projects which are located within the under-explored northern section of the richly endowed Andean Copper Belt of Colombia. The Company is currently reviewing a number of exploration opportunities in Colombia, both in base and precious metals.
ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.
Brett Matich, CEO and President
Tim Henneberry, P. Geo (British Columbia), a member of the Max Resource Corp. Advisory Board, is the qualified person who has reviewed and approved the technical content of this news release on behalf of the Company.
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by contacting the Company directly at (604) 365 1522.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that may be deemed as "forward-looking statements" within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical facts, are forward-looking statements, including, without limitation, statements pertaining to completion of the Acquisition and any approvals required in connection with the Acquisition. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper), unanticipated changes in key management personnel and general social, economic or geo-political conditions. Mining exploration and development is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. his list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws. We seek safe harbor.
Source: Newsfile Corp.