FREE GOLD IDENTIFIED IN FIRST FIVE CONGLOMERATE BULK TESTS
Max Resource Corp. (MXR.V) has released test sample results from five conglomerate trial pits, located within the company's Choco precious metal project, 100 kilometres southwest of Medellin, Colombia.
- Free gold was observed in the test sample concentrates from each of the five hard rock conglomerate trial pits;
- The objective was to process approximately 40kg of the 2,500kg of conglomerate collected from each of the 2m by 2m by 30 cm deep pits to gravity test for signs of free gold;
- The initial test results suggest potential gold continuity throughout a surface area of approximately 8 square kilometers; open in all directions;
- Identification of a conglomerate outcrop 1.5km south of Pit 5 indicates a vertical thickness of 12m; test samples are currently being processed;
- The Company is developing a processing system to analyze the gold content of the 2,500kg of bulk sample collected from each of the five pits;
- additional samples are currently being processed; and
- The on-going conglomerate test pit program continues to branch out further and further with the objective of increasing the lateral extent of the gold mineralization.
The exploration strategy is to determine the full lateral extent and gold content of the underlying hard rock conglomerate hosted gold deposits throughout the Company's 89 mineral license applications totaling 1,757 square kilometres in Western Colombia.
Brett Matich, Max's President and CEO commented: "Our initial exploration results support the historic reports of free gold contained within the underlying hard rock conglomerates which are potentially the source of the 1.5Mozs of gold and 1.0Mozs of platinum produced during historic surface mining." (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) Plate 1. -2mm Concentrates with Free Gold.
Table 1. Hard Rock Conglomerate Bulk Sample Detail Sample weight (kg) -2mm (kg) Concentrate -2mm (g) Pit 1 0714 48.38 37.4 838 Pit 2 0718 32.5 28.3 265.08 Pit 3 0716 27.18 24.05 287.57 Pit 4 0713 52.61 45.4 962 Pit 5 0715 45.7 39.7 60
Table key: weight (kg) is the dry weight in kilograms of the conglomerate sample prior to processing; -2mm (kg) is the weight in kilograms of the -2mm fraction of the full sample after crushing and sieving; concentrate -2mm (g) is the weight in grams of the concentrate produced from the -2mm fraction of the full sample.
The Company considers systematic bulk sampling at surface to be the most practical means of determining grade, processing characteristics and the lateral extent of the mineralization. Sampling the exposed face of outcrops will provide initial assessment of thickness, depth and gold content of this flat lying mineralized system.
The six 2m by 2m by 30cm deep test pits are excavated from surface by pneumatic hammer. A measured specific gravity of 2.2 indicates approximately 2,500kg to 3,000kg of hard rock conglomerate is collected from each pit.
The on-going exploration recently identified a 12m thick conglomerate outcrop approximately 1.5km south of the most southern test pit. Samples were taken down the face of the outcrop to determine gold distribution vertically through the conglomerate. Analytical results are pending.
Choco Precious Metals Project
MAX has 100% ownership of 82 and 50% of 7 mineral license applications, totaling over 1,757 square kilometres, located within Choco Department approximately 100km SW of the city of Medellin, Colombia.
Compania Minera del Choco Pacifico ("Choco Pacific") produced 1.5 million ounces of surface gold and 1.0 million ounces of surface platinum from the "Choco District" between 1906 to 1990, largely limited to an average depth of 8 meters or less.