Business
Max Resource Establishes Subsidiary for Palladium, Platinum, Rhodium Resource Assets
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - MAX RESOURCE CORP. (TSX...
About this update from Max Resource Corp
[{"type":"text","content":"Max Resource Establishes Subsidiary for Palladium, Platinum, Rhodium Resource AssetsVancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) (“Max” or the “Company”) reports the establishment of a wholly-owned subsidiary named “PGE Americas Metals Corp.” whereby the Company has transferred all of its rights in the PGE Choco Project. This is the first step towards building a portfolio of PGE assets with a targeted focus on palladium, platinum and rhodium in order to capitalize on real world technology metal deficits. The corporate intent is to unlock this value in both, an accelerated and timely manner. PGE Choco Project - Platinum Group Elements The wholly owned PGE Choco project is located 120 km SW of Medellin Colombia, within an historical PGE region, recorded production of one million ounces of platinum (1906-1990) by Choco Pacific Mining. Compilation of historical records revealed the potential of related PGE’s, particularly palladium and rhodium. In addition, recent field work by Max resulted in highlight concentrate values of 114 g/t platinum from a field program in 2019 (refer to news release April 16, 2019). Colombia was the world’s main source of platinum until 1820 and was world’s largest producer between 1917 and 1923.  Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condo to Platinum NL. “Current demand for palladium, platinum and rhodium outstrips supply and increasingly stringent environmental regulations are forcing auto makers to use more of these metals. We are adopting a sum of the parts strategy in creating a PGE metals subsidiary and consequently compounding shareholder value,“ commented Brett Matich, CEO of Max. “Max’s CESAR Phase II exploration program is in full swing and we eagerly await the very first initial assay results from AM North located on trend, 35 km north of the AM South discovery,” he continued.  CESAR Copper and Silver Project The wholly owned CESAR Project is located in north east Colombia within Jurassic sediments and volcaniclastics that run through the length of northern South America, hosting significant s...