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Vancouver, British Columbia, Jan 09, 2019 (Newsfile Corp via COMTEX) — MAX Resource Corp. (MXR) (otc pink:MXROF) (M1D1) (“MAX” or the “Company”) is admiring to accommodate this accumulated and appraisal update.
During the added bisected of agenda year 2018, MAX has anchored 100% of 89 mineral applications for a absolute breadth of 1,757sqkm amid aural the Choco Province about 100km SW of the burghal of Medellin, Colombia.
Sixty three of the 89 applications, apery 1,270sqkm and collectively referred to as the “Choco Project” are alfresco or adjoining to the “Novita Project” area, which is the accountable of the proposed Noble Metals Transaction. (see MAX Account Absolution anachronous 18 June 2018).
Compania Minera del Choco Pacifico (“Choco Pacific”) produced 1.5 actor ounces of gold and 1.0 actor ounces of platinum from the Choco commune amid 1906 to 1990, abundantly bound to an boilerplate abyss of 8 meters or less. The “Choco Project” covers or is adjoining to abundant of Choco Pacific’s celebrated appraisal and assembly areas. The MAX applications accommodate the “Big Flat”, a abundantly adopted breadth of 100sqkm, hosting all-encompassing absolute workings.
Choco Pacific celebrated letters announce that the basal adamantine bedrock conglomerates, amid aural the “Choco Project” area, are aberrant to gold and platinum accumulation elements. The letters additionally announce the adamantine bedrock conglomerates are shallow, all-encompassing and about collapsed lying with thicknesses from a few metres to 20 metres. (source:R.J. Fletcher and Associates (2011) Review of Gold and Platinum Appraisal and Assembly in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd)
The Company’s appraisal action is to affirm through accepted appraisal programs, the attendance of gold and platinum accumulation elements and the crabbed admeasurement of these basal adamantine bedrock conglomerates.
MAX cautions investors it has yet to verify the celebrated information.
Trial Aggregate Sample Affairs
MAX has now calm balloon aggregate samples over an breadth of 6 aboveboard kilometres, aural one of its applications abreast the boondocks of Novita to access geologic data, authorize sampling alignment and beforehand a arrangement for aggregate sample processing and analysis.
Six appraisal pits of 2m x 2m by 30cm abysmal were biconcave by aeriform hammer, anniversary acquiescent 2500kg to 3000kg of adamantine bedrock conglomerate. Additionally, 50kg of amassed was calm from the abject of a 12m blubbery amassed bulge to accommodate an antecedent appraisal through the array of the adamantine bedrock amassed horizon.
The map can be beheld at: Media
Roughly 50kg of amassed from anniversary aggregate sample forth with the 12m bulge sample accept been alien to Activation Laboratories Ltd (Actlabs) Medellin, Colombia alertness ability for processing above-mentioned to celerity to the Actlabs Lancaster, Ontario ability for analysis. Analytical after-effects are pending.
MAX’s geological aggregation has articular a cardinal of amassed occurrences throughout the Choco Project area. An appraisal and sampling affairs accept commenced.
Brett Matich, the Chief Executive Officer of MAX, commented: “This aggregate sampling affairs supports celebrated letters of adamantine bedrock conglomerates basal the alluvial gold address mineralization. Our antecedent appraisal of these conglomerates included one appraisal of arresting gold aural the biconcave material”. Mr. Matich added “the crabbed admeasurement of the gold address conglomerates accumulated with the accepted 12 accent array substantiates our acceptance the Choco Project is an agitative opportunity”.
Sampling and Appraisal Alignment
Sampling candor is essential. The amassed apparent is bankrupt and a 2m by 2m aboveboard is marked. A aeriform bang again chips and break the amassed bulge to a abyss of 30cm. The burst amassed is again calm in rice bags; about 25kg per bag. Anniversary prenumbered bag is closed by the geologist and transported to secure, bound accumulator at the Novita Camp, in Choco. Two accoutrements per pit are again transported by Company cadre to the bounded centre of Quibdo, area it is transported to Medellin for auto by Company cadre and transported to the Actlabs basic lab in Medellin.
The 50kg sample is ashamed to 2 millimetres (2mm). The -2mm and 2mm fractions are afar by sieving. The -2mm is concentrated and bagged for analysis. The 2mm absolute is pulverized, again concentrated and bagged for analysis. Samples from the -2mm and 2mm tailings from the apperception are additionally taken for analysis.
All samples are beatific from the basic lab to the Ancaster class for gold blaze appraisal assay application a 30g charge. Activation Laboratories Ltd. Ancaster is an ISO 17025 accepted ability certified to 9001:2008. The Medellin basic lab is additionally 9001:2008 ISO certified.
Noble Metals Transaction
MAX Resource Corp. entered into a bounden Letter Acceding anachronous June 14, 2018 with Noble Metals Ltd. (“Noble”) pursuant to which MAX agreed to access three Noble subsidiaries – GPS Metals Lab Inc., Global Products Manufacture & Casework S.A.S. and Condoto Platinum Bound (“Condoto”). Although binding, the obligations of the parties beneath the Letter Acceding were accountable to due activity and added conditions. During the beforehand of its due activity investigation, MAX absitively that it was alone absorbed in purchasing the Condoto assets which, through a ‘Sucursal’ (a bounded annex formed in Colombia), accommodate an appraisal camp, a mineral acknowledgment and, best important to MAX, rights of aboriginal abnegation over the 105,975-hectare Novita Higher Community Council aboriginal acreage amalgamation (the “Novita Project”) amid in the Choco Department, Colombia, which is captivated by Noble and Condoto pursuant to a Tenement Assignment and Royalty Acceding with the Novita Higher Community Council anachronous January 25, 2011.
The parties adduce to access into a absolute asset acquirement acceding that would carelessness the Letter Agreement. Beneath this absolute agreement, the parties intend to carelessness the allotment acquirement in favour of an asset acquirement acceding in which MAX will access all of the Condoto assets in barter for $500,000 in banknote and 26,665,896 MAX accepted shares (the “Transaction”).
The Transaction charcoal accountable to TSX Venture Barter and actor approval, in accession to the beheading of the absolute agreement, which will accommodate added closing altitude archetypal of affairs of this nature.
Upon closing of the Transaction, Noble will become a ascendancy being of MAX. MAX has already paid a non-refundable $100,000 drop to Noble and, aural bristles canicule afterwards cancellation of codicillary approval from TSX Venture Barter and beheading of the absolute agreement, MAX will be appropriate to pay an added non-refundable drop in the aggregate of $150,000. On closing MAX will accept a acclaim adjoin the banknote allocation of the acquirement amount for the $250,000 deposit.
There are no finders and no finder’s fee will be paid in affiliation with this Transaction.
In May of 2018, MAX formed Gachala Colombia Corp. (“Gachala”) as a British Columbia accessory and acquired Gachala Colombia Corp. to anatomy a bounded annex (a “Sucursal”) in Colombia. MAX has conducted the aggregate of its appraisal activities in Colombia through the Sucursal of this wholly-owned subsidiary.
At its anniversary accepted and appropriate shareholders’ affair captivated December 31, 2018, the MAX shareholders adopted all four bounden admiral to the Board for 2019 (Brett Matich, Stuart Rogers, Paul John and John Theobald), accustomed and adopted the 2018 Stock Option Plan, re-appointed the Company’s auditors, accustomed the Company’s beforehand apprehension action and the assiduity of the Company out of the Province of Alberta and into the Province of British Columbia. MAX proposes to affect that assiduity into British Columbia shortly.
About MAX Resource Corp.
MAX Resource Corp.’s focus is to analyze and consolidate gold and platinum accumulation mineral assets in the abundantly able Choco mineral commune of Colombia and to analyze the Gachala sedimentary chestnut hosted mineral belt of Colombia.
ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.
Brett Matich, CEO and President
Tim Henneberry, P. Geo (British Columbia), a affiliate of the MAX Resource Corp. Advisory Board, is the able being who has advised and accustomed the abstruse agreeable of this account absolution on account of the Company.
Further advice apropos the Company can be begin on SEDAR at Media or by contacting the Company anon at ( 1) 604 365 1522.
Neither the TSX Venture Barter nor its adjustment casework provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.
This account absolution includes assertive statements that may be accounted as “forward-looking statements” aural the acceptation of applicative Canadian balance laws. All statements in this release, added than statements of absolute facts, are advanced statements, including, after limitation, statements pertaining to achievement of the Transaction and any approvals appropriate in affiliation with the Acquisition. Although the Company believes the expectations bidding in such advanced statements are based on reasonable assumptions, such statements are not guarantees of approaching achievement and absolute after-effects or developments may alter materially from those in advanced statements. Factors that could account absolute after-effects to alter materially from those in the advanced statements include: changes in bazaar conditions, bootless appraisal results, changes in the amount of bolt (particularly copper), hasty changes in key administration cadre and accepted social, bread-and-butter or geo-political conditions. Mining appraisal and development is an inherently chancy business. Accordingly the absolute contest may alter materially from those projected in the advanced statements. This account is not all-embracing of the factors that may affect any of the Company’s advanced statements. These and added factors should be advised anxiously and readers should not abode disproportionate assurance on the Company’s advanced statements. The Company does not undertake to amend any advanced account that may be from time to time by the Company or on its behalf, except in accordance with applicative balance laws. We seek safe harbor.
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