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Max Resource Announces $1.05 Million Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 12, 2020) -  MAX RESOURCE CORP. (T...
About this update from Max Resource Corp
[{"type":"text","content":"Max Resource Announces $1.05 Million Private PlacementVancouver, British Columbia--(Newsfile Corp. - August 12, 2020) -  MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) (\"Max\" or the \"Company\") is pleased to announce that it will conduct a fully subscribed non-brokered private placement financing (of up to 10,000,000 units (the \"Units\") at a price of CDN$0.105 per Unit for gross proceeds of up to CDN$1,050,000 (the \"Placement\"). Each Unit will consist of one common share in the capital of the Company (a \"Share\") and one transferable share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable to acquire one additional Share at an exercise price of CDN$0.14 per Share for a period of 12 months from the date of issuance.The Company intends to use the proceeds from the Placement towards exploration expenditures and for general working capital purposes. The securities issued under the Placement will be subject to a four-month and one-day hold period. The Placement remains subject to the final approval of the TSX Venture Exchange.Figure 1. CESAR Project LocationTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/3834/61522_d9246f37342f0889_001full.jpgCESAR Stratabound Copper-Silver Project - OverviewThe wholly-owned CESAR project in north east Colombia lies along a 120-kilometre sediment-hosted copper-silver belt that resembles the Kupferschiefer in Poland. The CESAR region enjoys major infrastructure. Mining operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American (Figure 1).Important highlights and exploration activity on multiple fronts:AM North consists of a broad 11-kilometre continuous zone of stratabound copper-silver mineralization and is open in all directions. The copper-silver zone also contains a high-grade area with varying intervals grading 4.0 to 34.4% copper + 28 to 305 g/t silver (July 29, 2020). Two bulk samples extracted from each end of the 1.8-km discovery horizon, returned 10.5% copper +79 g/t silver and 3.5 % copper + 29 g/t silver (May 21, 2020).The AM South zone occurs 40-km SSW of the AM North zone, within the same mineralized trend. The copper-silver zone extends over an area of 4-kilometres by 3-kilometres, and remains opens laterally. The cumula...