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Max Resource Announces Closing of Transaction to Purchase 100% of the Florália Hematite Iron Ore Project in Brazil
Vancouver, British Columbia--(Newsfile Corp. - October 11, 2024) - MAX RESOURCE CORP. (TSXV: MA...
About this update from Max Resource Corp
[{"type":"text","content":"Max Resource Announces Closing of Transaction to Purchase 100% of the Florália Hematite Iron Ore Project in BrazilVancouver, British Columbia--(Newsfile Corp. - October 11, 2024) - MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) (\"Max\" or the \"Company\") is pleased to announce that, further to its news releases on May 16, June 17, August 6, and August 19 2024, it has closed the transaction to purchase a 100% interest in Mineral Right n° 832.022/2018, which represents the Florália Hematite Iron Ore Project (\"Florália Hematite or Florália\") located 70-km east of the city Belo Horizonte, State of Minas Gerais, Brazil (the \"Transaction\"). The Transaction closed pursuant to a mineral right purchase agreement (the \"APA\") entered into with the Company's wholly owned Brazilian subsidiary, Max Resource Brazil Ltd. (\"Max Brazil\" and, together with the Company, the \"Max Entities\"), Jaguar Mining Inc. (\"Jaguar\") (TSX: JAG) and Jaguar's wholly owned Brazilian subsidiary, Mineração Serras Do Oeste Limitada (together with Jaguar, the \"Jaguar Entities\"). The transfer of the Florália Hematite Project to Max Brazil was lodged at the Brazilian National Mining Agency (\"ANM\") on September 5, 2024. \"The Florália Hematite Iron Ore open pit reveals sizable, sub-horizonal plunging bands of hematite iron ore which appear to extend in all directions. Upon successful exploration and development, with iron ore buyers situated within 20-km, Florália would have a significant transportation cost advantage, as bulk tonnage haulage to a shipping port would not be required,\" commented Max CEO, Brett Matich. \"Our Brazilian exploration team has commenced the 2024 program, starting with a drone magnetic survey, channel sampling of roads cutting through the mineralization, and subsequent auger and diamond drilling. I look forward to updating shareholders in the coming weeks,\" he concluded.Figure 1. Iron Ore Buyers within 20-km Radius of the Florália Hematite Iron Ore Project.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3834/226355_0ba284a9d492fb19_001full.jpgThe Florália Hematite Project is centrally located within a prolific iron ore mining region in Minas Gerais, Brazil's largest iron ore producing State. Numerous iron o...