OUTLINES GOLD COPPER ZONE AT NORTH CHOCO
Max Resource Corp. (MXR.V) provided further results from its initial sampling program at the North Choco gold-copper property, identifying anomalous gold and copper at surface within an area approximately five kilometres by 7.5 kilometres, open in all directions. Max is acquiring the North Choco Property, located 80 km SW of Medellin, Colombia, through the pending acquisition of Andagueda Mining Pty. Ltd. (see news release of May 8, 2019). A total of 74 rock chip samples were taken in the area with gold values ranging from 5 to 80,000 ppb (80 g/t) gold and copper values ranging from 14.5 ppm to 18,200 ppm (1.82%) copper;Average grades were 537 ppb gold and 640 ppm Copper, medians were 25 ppb Au and 171 ppm Cu;Sample widths of the individual chip samples ranged from 0.125 to 1.00 metres with the majority in the 0.30 to 0.40 metre range;Copper minerals included: chalcopyrite, chalcocite and occasional bornite;Assay results are pending on a further 88 samples.
"Our exploration campaign continues to produce excellent results" Max CEO, Brett Matich, stated. "We have already identified a large area of anomalous gold copper mineralization and will now focus on expanding mineralization foot print, with further assay results pending," he continued. Image 1To view an enhanced version of Image 1, please visit:https://orders.newsfilecorp.com/files/3834/45313_09f790c5c47efa0a_002full.jpg
North Choco Gold-Copper and Choco Gold-Platinum
North Choco Gold-Copper (500 sq. km) is located 80 km SW of Medellin and is contiguous to properties held by AngloGold Ashanti and Continental Gold and includes rights to exploration and exploitation over a 72.5 sq. km Mining Area.
North Choco is 47 km SW of AngloGold's 2005 Nuevo Chaquiro copper porphyry discovery, hosting an inferred resource of 604Mt at 0.65% copper and 0.32g/t gold with a contained metal content of 4 million tons of copper and 6 million ounces of gold. This is one of five known porphyry centres within a 15 sq. km area. The Nuevo Chaquiro Resource is disclosed in the AngloGold presentation "Discovery and Geology of the Nuevo Chaquiro Cu-Au (Ag-Mo) Porphyry Deposit". Max cautions investors results from adjacent and nearby properties are not necessarily representative of the mineralization hosted at North Choco.
AngloGold Ashanti examined the North Choco area for porphyry copper in 2005, locating porphyry copper prospects and anomalies. AngloGold was unable to follow up and the area has sat idle until Andagueda Mining completed its historic agreement earlier this year.
Max's Choco Gold-Platinum Property (2.140 sq. km) is located adjacent to and SW of North Choco Gold-Copper and covers or is adjacent to historic production of 1.5Mozs gold and 1.0Mozs platinum. Free gold was observed from hard-rock conglomerates taken from surface in February of 2019. A follow up Long Wave InfraRed (LWIR) survey identified multiple conglomerate zones spread over a 1,000 sq. km area. Test work is continuing on accessing the fine gold within the conglomerates and the second phase exploration program will commence soon. Source for Choco: 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.)