Max Resource Corp. (the â€œCompanyâ€) [TSX.V: MXR; OTC: MXROF; Frankfurt: M1D] is pleased to provide a sample analysis and exploration update for the Companyâ€™s 1,757 sq. km â€œChoco Gold and Platinum Projectâ€, 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. â€œWe 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.â€ He continued â€œI have no doubt the revised exploration strategy will successfully identify the underlying conglomerate enrichment zones.â€
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 Companyâ€™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/
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