Max Resource reports 1.8% copper and 7.2 g/t silver over 48.0 metres at Sierra Azul Project, Colombia

Max Resource Corp. [TSXV-MAX; OTC Pink-MXROF; FSE-M1D2] reported assay results from 10 continuous channel samples collected at the recently discovered AM-13 target on its Sierra Azul Copper-Silver Project (formerly known as the Cesar Project) located in northeastern Colombia.

AM-13 Highlights: Results from 10 mineralized outcrops from the Cedro Valley include 1.8% copper and 7.2 g/t silver over 48.0 metres (AM13_CS08, continuous saw-cut channel), including 3.4% copper and 14.0 g/t silver over 15.0 metres and 3.5% copper and 15.7 g/t silver over 5.0 metres; 1.0% copper and 5.7 g/t silver over 26.0 metres (AM13_CS01, continuous chip channel) and 1.1% copper and 4.3 g/t silver over 9.0 metres (AM13_CS04, continuous chip channel).

Classification and size potential: In addition, Max has identified a 44.0-metre wide mineralized outcrop (assays are pending) in the Mapurito valley, 1.2-km northeast and along strike from the Cedro Valley discovery.

AM-13 hosts Manto-style mineralization and alteration, similar to deposits in the Tocopilla – Taltal region of northern Chile, a mineralized corridor that extends well over 100 km and hosts several economic deposits including Mantos Blancos (500mt at 1.18% copper and 12 g/t silver).

Primary copper minerals observed include native copper and chalcocite (80% copper by weight) (refer to Figure 1). These minerals indicate the depositional environment was sulphur poor, thus leading to the precipitation of these high-grade copper minerals.

AM-13 is top priority drill target, next steps: Establish continuity of the mineralization between the Cedro valley and Mapurito valley outcrops with detailed mapping, soil sampling and ground geophysical surveys.

“The AM-13 discovery is a significant achievement by the Max team working with Freeport-McMoRan Exploration Corporation (Freeport), which is earning in at the Sierra Azul Copper-Silver Project to unlock Sierra Azul’s potential, which we believe is host to one of the world’s largest underexplored sedimentary and volcanic copper-silver systems,” commented Brett Matich, CEO of MAX.

“The 48.0-metre width at 1.8% copper at Cedro valley are quite remarkable and the discovery of a 44.0m outcrop of similar mineralization in Mapurito valley 1.2-km to the northeast, speaks the target’s potential to be a world-class deposit,” he continued.

“The Max property position covers a mineralized belt of rocks similar in length to the Jurassic age belt in northern Chile which hosts no less than 5 economic deposits. The current exploration program is focused on confirming mineralization continuity Cedro and Mapurito valleys to establish the full mineralization footprint and prepare the target for drill testing”, he concluded.

AM-13 is located in the AM District, the northern most exploration area of the Sierra Azul Project.

Native copper and chalcocite are the primary copper-bearing minerals observed in the outcrops include

The alteration of the host rocks and the copper bearing minerals observed at AM-13 appear to be similar to the Manto deposits of northern Chile, including Mantos Blancos, which began production over 60 years ago and is estimated to have contained a total of 500mt at 1.18% copper and 12 g/t silver. Manto Blancos is one of a series of eight manto copper-silver deposits in the Jurassic age volcanic and volcano-sedimentary rocks of northern Chile.

Exploration teams prospecting the Mapurito valley, 1.2km to the north, discovered a 44.0-metre wide outcrop of andesitic tuff with similar mineralization in July 2024, suggesting AM-13 has significant size potential. Rock channel sampling of the Mapurito valley outcrop is underway. Assays will be released when received.

The current exploration objectives are: Determine the footprint of AM-13 with initial efforts focused on establishing the continuity of mineralization between Cedro and Mapurito valleys. The work program includes detailed geological mapping, continuous channel, as well as ground geophysical surveys and detailed structural analysis; continue to systematically evaluate the entire Sierra Azul project through regional soil sampling (7,500 samples) and stream sediment sampling (up to 1,600 samples). In addition, a regional structural analysis will be conducted, followed by geological mapping and prospecting to identify additional mineralized outcrops.

Results from a total of 109 rock channel samples collected across 10 mineralized outcrops in the Cedro valley in June 2024 are summarized in Table 1. Samples were collected perpendicular to bedding with each sample representing a one-metre interval. Saw-cut channels had an approximate depth of 2 cm and a thickness of 5 cm.

The Sierra Azul Copper-Silver Project comprises three districts: AM, Conejo and URU. Collectively the three contiguous districts stretch over 120-km in NNE/SSW direction. Max’s land tenure at Sierra Azul includes 188 km2 of mining concessions and 1,141 km2 of mineral concession applications.

On November 7, 2023, Max executed a Share Exchange Agreement to acquire all the issued and outstanding shares of Bay Street Mineral Corp., an arms length Canadian corporation in exchange for 14,000,000 common shares in the capital of Max. Bay Street held an underlying 3% net smelter royalty over 19 mining concessions covering 184-km² and 31 mining concession applications covering 796-km² of the company’s wholly owned Sierra Azul Copper-Silver Project.

On May 13, 2024, Max entered into an Earn-In Agreement (EIA) with Freeport, a wholly owned-affiliate of Freeport-McMoRan Inc. [NYSE-FCX] relating to Max’s wholly owned Sierra Azul Copper-Silver Project. Under the terms of the EIA, Freeport can earn an 80% interest in the Sierra Azul Copper-Silver Project in two stages by spending an aggregate amount of $50 million and paying a total of $1.55 million in cash to Max.

The US$4.2 million exploration program is underway. There are two main objectives for the 2024 exploration program: conduct systematic regional exploration over the entire Sierra Azul Project Area (>1,300 sq-km) and define priority targets for drilling.

Subject to TSX Venture approval, Max executed a Definitive Agreement to purchase 100% of the Florália DSO Iron Ore Project, located within the Iron Quadrangle in Brazil. Channel sampling of excavated mining pits in 2023 resulted in the definition of a geological target estimated at 8,052,041 tonnes to 12,184,160 tonnes using a density of 2.71 g/cm3 averaging 58% Fe).