Business
Max Resource Corp. Signs Binding Letter of Intent with Copperbelt Minerals Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2018) - MAX RESOURCE CORP.  ...
About this update from Max Resource Corp
[{"type":"text","content":"Max Resource Corp. Signs Binding Letter of Intent with Copperbelt Minerals Corp.Vancouver, British Columbia--(Newsfile Corp. - February 26, 2018) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D) (\"MXR\" or the \"Company\") is pleased to announce it has executed a binding letter of intent (\"LOI\") to acquire 100% of the outstanding share capital of Copperbelt Minerals Corp. (\"CMC\") a private Canadian company (the \"Acquisition\"), that currently holds the Copperbelt Project (\"Project\"), located in Cundinamarca Department of central Colombia, approximately 50 kilometres east of the capital of Bogota.Project's key highlights:Project underlies a 25 km long section of a 250 km belt of sedimentary copper mineralizationThe 40,000 hectare property is showing copper mineralization spread throughout the ProjectIncludes the region's most prolific copper mine with grab sample grades ranging from background to 26% copper - Cerro de CobreChannel sampling returned 22.8 m at 3.16% copperMobile metal ion sampling defined a 1500 m by 800 m copper-in-soil anomaly open in all directionsInterpreted repetitions and favourable structures outside known mineralizationRecent long-wave infrared (\"LWIR\") survey conducted identified multiple anomalies within the Project\"The northern end of the world's largest copper belt, the Andean Belt, is an underexplored region ripe for exploration and discovery. The widespread occurrences of copper throughout the 400 square kilometre property exhibiting highlight grab samples of 26% Cu and channel sampling of 3.16% over 22 m, combined with the LWIR confirming the known occurrences and identifying several other targets, suggests the Project presents a potential new sedimentary hosted copper district\" stated Brett Matich, CEO and President.Three hundred and three grab and channel samples from the Cerro de Cobre averaged 0.798 % copper with 80 of the samples returning values in excess of 0.5% copper. The Company cautions investors that grab samples are selected samples and are not necessarily representative of mineralization hosted on the property. The orientation of the channel samples has yet to be determined as the outcrop is minimally exposed. The Copperbelt ProjectThe Project underlies a 40,000 hectare section of a 250 kilometre long belt of sedimentary rocks believed to be analogous to th...