Max Resource up 33% on sponsorship news
The Max Resource 30-person exploration camp and bulk testing facilities in Colombia. Source: Max Resource Corp.
[MXR-TSXV; MAXROF-OTC; M1D1-FSE] rallied strongly in active trading Monday February 4 after the company said it has signed a sponsorship deal with Star Finance GmbH, a privately-owned communications services provider based in Steinhausen, Switzerland and Cologne, Germany.
Max shares jumped 33% or $0.06 to 24 cents on volume of almost 6.13 million. The 52-week range is 12 cents and 31.5 cents.
Star Finance is owned and operated by Michael Adams, an experienced communications professional with more than 15 years of experience assisting Canadian public companies to investors, primarily in Germany and German-speaking Europe.
Among other services, Star Finance owns and operates two established investment-focused financial websites and provides information about investment opportunities to its audience through an e-mail newsletter, websites and various social media channels in the form of written articles and video content.
The sponsorship agreement provides for the introduction of MAX to Star Finance’s audience and subscribers was well as the distribution of company news releases through Star Finance channels and/or the creation and launch of web-based interviews.
The arrangement will have a 12-month term and a cost of 5,000 EUR per month.
Max is a Canadian exploration company with a focus on exploration of mineral assets in Colombia. Its portfolio includes 100%-ownership of 82 and 50% ownership of seven mineral license applications covering 1,757 km2 in the Choco Department, approximately 110 km southwest of Medellin.
Former operator Choco Pacifico produced 1.5 million ounces of gold and 1.0 million ounces of platinum from the Choco District between 1906 and 1990. This historic production was largely limited to an average depth of 8 metres or less.
Max says its Choco Precious Metals project covers, or is adjacent to much of Choco Pacifico’s historic exploration and production areas.
Max said the emphasis of the company’s exploration program is to both substantiate historic reports of free gold within the hard rock conglomerates underlying the surface gold-bearing mineralization and to determine thicknesses and ultimate lateral extent.
Its exploration program involves bulk sampling the conglomerate (hard rock) mineralization to access scale and continuity of gold grades. Max said it is working to develop a system to analyze the gold contained within the 2,500 kilograms of hard rock collected from five trial pits. The pits are typically 2 metres by 2 metres deep.
Meanwhile, Max said it has identified copper/cobalt occurrences over significant areas on its 100%-owned Gachala Copper Project which covers 13,677 hectares and is located 60 km east of Bogota. It said exploration results are pending.
Star Finance does not hold any direct or indirect interest in Max Resource, the company said in a press release.
The company said these four license applications are contiguous to an area where historic sampling has identified a 25-km strike length of copper enrichment with grades ranging from 0.6% to 13% copper.