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MAX Resource Secures Mineral Applications Covering or Adjacent to Bulk of Historic Production of 1.5mozs of Gold and 1.0mozs of Platinum - Exploration and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2019) - MAX Resource Corp. (TSXV:...
About this update from Max Resource Corp
[{"type":"text","content":"MAX Resource Secures Mineral Applications Covering or Adjacent to Bulk of Historic Production of 1.5mozs of Gold and 1.0mozs of Platinum - Exploration and Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - January 9, 2019) - MAX Resource Corp. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D1) (\"MAX\" or the \"Company\") is pleased to provide this corporate and exploration update.Exploration Activities:During the second half of calendar year 2018, MAX has secured 100% of 89 mineral applications for a total area of 1,757sqkm located within the Choco Province approximately 100km SW of the city of Medellin, Colombia.Sixty three of the 89 applications, representing 1,270sqkm and collectively referred to as the \"Choco Project\" are outside or adjacent to the \"Novita Project\" area, which is the subject of the proposed Noble Metals Transaction. (see MAX News Release dated 18 June 2018).Compania Minera del Choco Pacifico (\"Choco Pacific\") produced 1.5 million ounces of gold and 1.0 million ounces of platinum from the Choco district between 1906 to 1990, largely limited to an average depth of 8 meters or less. The \"Choco Project\" covers or is adjacent to much of Choco Pacific's historic exploration and production areas. The MAX applications include the \"Big Flat\", a largely unexplored area of 100sqkm, hosting extensive historical workings. Choco Pacific historic reports indicate that the underlying hard rock conglomerates, located within the \"Choco Project\" area, are anomalous to gold and platinum group elements. The reports also indicate the hard rock conglomerates are shallow, extensive and generally flat lying with thicknesses from a few metres to 20 metres. (Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd)The Company's exploration strategy is to confirm through current exploration programs, the presence of gold and platinum group elements and the lateral extent of these underlying hard rock conglomerates. MAX cautions investors it has yet to verify the historic information. Trial Bulk Sample ProgramMAX has now collected trial bulk samples over an area of 6 square kilometres, within one of its applications near the town of Novita to obtain geologic data, establish sampling methodology and develop...