MAX Resource identifies free gold at Colombian project
MAX Resource (TSXV: MXR) announced this week that, following sampling work at five conglomerate trial pits on its Chocó project, free gold was observed in the test concentrates obtained from each of the hard rock pits.
In a press release, MAX said that initial results suggest potential gold continuity throughout a surface area of approximately eight square kilometers, open in all directions.
The Vancouver-based miner said the goal of the sampling program was to process approximately 40kg of the 2,500kg of conglomerate collected from each of the 2m by 2m by 30 cm deep pits to gravity test for signs of free gold.
"The exploration strategy is to determine the full lateral extent and gold content of the underlying hard rock conglomerate"
MAX's exploration team in the field is processing additional samples and continuing the conglomerate test pit program with the idea of branching out further to increase the lateral extent of the gold mineralization.
"Our initial exploration results support the historic reports of free gold contained within the underlying hard rock conglomerates which are potentially the source of the 1.5Mozs of gold and 1.0Mozs of platinum produced during historic surface mining," the Canadian firm's President and CEO, Brett Matich, said in the statement.
Earlier this month, MAX secured 100% of the 89 mineral applications it is aspiring to develop in western Colombia. Sixty-three of those applications are collectively referred to as the “Chocó project,” located within the western Chocó department, approximately 100 kilometres southwest of the city of Medellín.
The applications cover a total area of 1,757 square kilometres and are located outside or adjacent to the Novita project area, which the company is seeking to acquire.