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Max Resource Corp (TSX-V: MXR) is putting an extra two letters in its
Choco Precious Metals Project: “Pl” for platinum.
Up to now exploration at Choco, in Colombia, has focused on the
conglomerate gold (free gold contained in hard rock up to about 12m below
surface) but in its latest set of results, Max updates investors on the
results of two samples taken from a 1,000-square-kilometer new exploration
zone.
The sprawling zone was identified by a long-wave
infrared (LWIR) satellite survey completed earlier this year.
 
A concentrate made from the first sample graded 340.84 grams per tonne (g/t)
gold and 111.03 g/t platinum, for a combined 451.87 g/t gold and platinum.
The second concentrated sample was 222.06 g/t gold and 113.83 g/t
platinum.
It’s important to note that these two samples were taken from surface,
within a 36-square-kilometer area initially identified by Max as potentially
containing conglomerate gold. The samples are also near six test pits dug as
part of a bulk sampling program. (see below for details)
The geological theory Max is operating under, is there is a precious
metals intrusive (gold, platinum, palladium) that runs right up to
surface. In some areas there is more platinum than gold (80-20%) and in
others the ratio is reversed (20% platinum to 80% gold).
Its important to note that the concentrate is recovered simply by panning
and the sample tailings which comprise of about 99.7% of the sample has not
been assayed. Also recovered gold and platinum is significant compared to
assays.
The two samples will be further assayed for evidence of other platinum
group elements. At the same time, Max will move northward to collect
more samples for assaying, within the 1,000 square kilometers identified by
the satellite survey.
LWIR survey
Otherwise known as thermal imaging, LWIR is a new mineral exploration
technique that employs satellite imagery to uncover targets that were
previously unavailable to exploration companies. LWIR bands can penetrate
vegetation and other ground cover, up to 60 centimeters (24 inches) beneath
the surface, to mathematically “fingerprint” mineralized areas.
The aim of the LWIR survey was to identify a correlation
between gold-bearing conglomerate outcrops (mineralized areas at surface) and
historical production in the Choco Precious Metals District, located
100 kilometers from Medellin.
The results of the LWIR go far beyond the previously identified
36-square-kilometer area thought to contain gold-bearing
conglomerates. Max has full and partial ownership of seven mineral license
applications totaling over 1,757 square kilometers.
At a shareholders’ meeting on April 2, the company voted to acquire the mining
rights to a 1,050-square-kilometer land package known as the Novita Project,
finalizing a deal with previous rights owner Noble.
Max
now controls a grand total of 2,807 square kilometers of prospective
gold-bearing conglomerates in the Choco region of Colombia.
Max's Choco Precious Metals Project is either part of, or adjacent to, the
Choco Precious Metals District. Between 1906 and 1990, Colombian mining
company Choco Pacifico extracted 1.5 million ounces of gold and a
million ounces of platinum from the district, all from alluvial (riverbed),
within 8 meters of surface.
Bulk sampling program
Max has bulk-sampled an area of historical alluvial gold mining (the
conglomerate gold underneath has never been fully explored), by digging and
sampling six pits (2m by 2m by 30cm-deep) spread over a 36 sq. kilometer
area.
The plan for the bulk sampling program is to 1) substantiate reports of
free gold within the hard rock conglomerate and 2) determine the thickness of
the gold conglomerate and how far it extends laterally.
The company has determined that the best way to obtain the grade of the
gold-bearing conglomerates is to crush the conglomerate and then process the
material to recover the free gold from the sample, rather than assaying the
samples.
About 2,000 kilograms of hard rock conglomerate was randomly collected
from each pit, then a 50-kg sample from each pit was sent to a lab in
Medellin, where it was crushed to <2mm, then gravity-separated to reveal
the gold.
The grams per tonne of free gold of the minus-two-millimetre concentrate
are being calculated and will be released as initial sample results.
The final results of the entire 50-kg sample will be released
later.
Legal Notice / Disclaimer
This document is not and should not be construed as an offer to sell or
the solicitation of an offer to purchase or subscribe for any investment.
Richard Mills has based this document on information obtained from sources he
believes to be reliable but which has not been independently
verified. Richard Mills makes no guarantee, representation or warranty and
accepts no responsibility or liability as
to its accuracy or completeness. Expressions of opinion are those of
Richard Mills only and are subject to change without notice. Richard Mills
assumes no warranty, liability or guarantee for the current relevance,
correctness or completeness of any information provided within this Report
and will not be held liable for the consequence of reliance upon any opinion
or statement contained herein or any omission. Furthermore, I, Richard Mills,
assume no liability for any direct or indirect loss or damage or, in
particular, for lost profit, which you may incur as a result of the use
and existence of the information provided within this Report.
Max Resources (TSX.V:MXR), is an advertiser on Richard’s site
aheadoftheherd.com. Richard owns shares of MXR
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