Vancouver B.C., November 18, 2019 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D1) is pleased to report that the Company has entered into Shares for Debt Settlement Agreements (the “Agreements”) to issue a total of 2,925,000 common shares (the “Settlement Shares”) to consultants, directors and officers of the Company at a deemed price of $0.10 per Settlement Share, thereby extinguishing a total of $292,500 in liabilities.
The issuance of the Settlement Shares is subject to the receipt of approval of the TSX Venture Exchange. The Settlement Shares issued pursuant to the Agreements will be subject to a voluntary six-month hold period, which will commence on the date of issuance.
Cesar Copper-Silver Project
Cesar Copper-Silver is wholly owned and is located approximately 420 km north of Bogota, within the northern Andean Copper Belt, which runs north and south along the west side of South America and is the most prolific copper producing region in the world.
Historically, the Cesar project area has been explored from a local context, but never in a broader picture. First pass exploration (see November 6, 2019 news releases) identified 18 distinct copper mineralization within an area of 9 sq. km, open in all directions.
Grab sample assays ranged from 0.3% to 4.2% copper with 34 of the 43 assaying in excess of 1% copper, 15 of the 43 assaying in excess of 2% copper, and 4 of the 43 samples assaying in excess of 3% copper. Silver also appears to be an important constituent with values ranging from 1 to 116 grams per tonne. The company cautions investors that grab samples are selected samples and are not necessarily representative of mineralization hosted on the property.
The phase two exploration program is now underway the Company will release an exploration update very soon.
North Choco Gold-Copper Project
North Choco consists of wholly owned mineral applications (250 sq. km), located approximately 80 km SW of Medellin Colombia, encompassing 10 historic gold mines. The recent NW Gold-Copper Discovery (refer 29 October 2019 news release) outcrop reported 1 metre of 49.8 g/t gold and 4.3% copper, which continues under cover in both directions. The target area is also coincident with a Long Wave InfraRed (LWIR) anomaly and with elevated gold-copper soil values. Future work will focus on mapping and sampling along strike to extend the zone and on locating additional parallel zones.
Choco Gold Project
Choco Gold project consists of wholly owned mineral applications (250 sq. km), located approximately 120 km SW of Medellín Colombia. These cover or are adjacent to historic production of 605,110 ounces of gold by Choco Pacific Mining (1906 to 1990), and encompass the conglomerate gold discovery, including the most recent concentrate results of sample 001 grading 340.84 g/t gold and 111.03 g/t platinum and sample 002 grading 222.06 g/t gold and 113.83 g/t platinum (see April 16, 2019 News Release). The Company has commenced discussions with a potential partner with the prerequisite expertise to assist with the gold bearing conglomerates.
Sample 001 consisted of 26.8 kg of material subsequently panned to a concentrate of 57.99 g which was subsequently assayed and reported. The numbers for sample 002 were 22.8 kg and 39.39 g respectively
About Max Resource Corp
Max is a mineral exploration company with an experienced and successful management team focused on advancing the development of its landholdings in the rich mineral belts of Colombia, with significant potential for the discovery of important-scale mineral deposits that can attract major partners.
Tim Henneberry, P Geo (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/
For additional information contact:
Max Resource Corp.
Tim McNulty
T: (604) 290-8100
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com
