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Max to Acquire North Choco Gold-Copper Assets Contiguous to AngloGold Ashanti and Continental Gold Properties
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2019) - MAX RESOURCE CORP. (TSXV: MXR) ...
About this update from Max Resource Corp
[{"type":"text","content":"Max to Acquire North Choco Gold-Copper Assets Contiguous to AngloGold Ashanti and Continental Gold PropertiesVancouver, British Columbia--(Newsfile Corp. - May 8, 2019) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D1) (\"Max\" or the \"Company\") is pleased to announce that it has entered into a binding Letter of Intent (the \"LOI\") dated May 7, 2019 with Noble Metals Limited and Buena Fortuna Mining Company Pty Ltd. (together, the \"Vendors\") whereby the Vendors shall grant an option to Max to acquire up to 100% of their interest in Andagueda Mining Pty Ltd. (\"Andagueda\") which holds an exploration and mining Agreement with the Tahami Indigenous Reservation of Alto Andagueda (\"TAHAMI\") for the North Choco Gold-Copper Project (\"North Choco\"). North Choco is located adjacent and trending to the NE of the Company's 2,140 sq. km Choco Gold-Platinum Project (\"Choco\"), located 100km SW of Medellin, Colombia with the following highlights:Through Andagueda's historic agreement, North Choco encompasses TAHAMI's 500 sq. km land area, and includes exploration and development of economic mineral resources on: Indigenous Communities Mining Zone 8-1704 covering 6535.7 hectares and Mining Concession BAE-112 covering 720.6 hectares;Andagueda conducted a reconnaissance visit of the North Choco property in January 2019, concentrating on the historic gold mines taking 14 samples, including the following channel samples:0.3m at 262.0 g/t gold + 0.57% copper + 941 ppm cobalt2m at 29.1 g/t gold1.6m at 20.7 g/t gold + 592 ppm cobalt0.3m at 49.3 g/t gold + 11.4% copper + 502 ppm cobaltNorth Choco is located 47 km SW of AngloGold Ashanti's Nuevo Chaquiro porphyry copper discovery; AngloGold's 03-Nov-2014 News Release announced an initial Inferred Resource of 604Mt at 0.65% copper and 0.32g/t gold for contained metal content of 3.95Mt of copper and 6.13Moz of gold. This is one of five known porphyry centres concentrated within a 15 sq. km area; Max cautions investors it has not yet verified the Andagueda and AngloGold sampling data. Max further cautions investors mineralization on the Nuevo Chaquiro property is not necessarily indicative of similar mineralization at North Choco.AngloGold's initial reconnaissance in 2005 within the North Choco property area identified pyrite, chalcopyrite, galena, sphalerite and arsenopyrite, in a...