Max Resource Coro. (TSXV: MAX) has discovered a new high-grade drill target at URU, which lies along the southern portion of the company’s wholly owned Cesar copper-silver project in north-eastern Colombia.
The reconnaissance, rock channel sampling, targeted three levels of a singular, subvertical mineralised structure.
True widths of the lower two levels are between 7.0m @ 8.5% copper + 143 g/t silver (open-ended) and 16.8m @ 8.3% copper + 146 g/t silver (open-ended) and true widths are yet to be determined on the upper level. The 16.8m channel includes 8.4m @ 11.4% copper + 202g/t silver (6.5oz/t silver).
The upper level, due to limited outcrop on a ridgeline, allowed a total of 24 chip channel samples collected over 48m returning an average value of 5.3% copper + 44 g/t silver. The true widths of the mineralised zone was not immediately identifiable given the topography. This outcrop is visibly more weathered than the lower levels.
Importantly, this indicates the mineralised structure shows +190m of vertical extent with high-grade copper-silver mineralisation and is open both below the lowest levels and vertically above and along strike from the uppermost levels.
CEO, Brett Matich, said this is significant as the samples were taken in an area of rapid eroding topography and therefore the vast majority of the samples were primary chalcocite (80% copper by weight). Notably the silver grades were much higher in these fresh samples, where chalcocite was only partly oxidised to malachite.
Mr Matich said this also suggests the historical adits in this area, which continue for +120m vertically above the uppermost sampled levels, were historic silver mines. Currently the strike length of sampled copper-silver mineralisation is +290m and is open to the NNE, in addition to the identified +190m vertical extent.
Ongoing field work on the priority URU drill target is now focussing on both strike and vertical extensions upwards from the uppermost samples collected to date. The upcoming Induced Polarization survey will target the vertically lower extensions to this zone, along with the strike extent in areas with little surficial outcrops.
“These first pass results over +290m of strike and +190m of vertical extent suggests this first of five structural URU targets represents a remarkable high-grade copper-silver discovery,” Mr Matich said.
“In addition, the mineralisation in the outcrop exposures appear to extend under overburden cover with open-ended grades of 11.1% and 3.7% copper in the last exposed samples with true thickness of the 7.0m channel, and similarly with 16.8m channel at 8.3% copper open-ended, with either end samples grading 4.2% and 2.7% copper.
“The Max field team are focussed on defining orientation, continuity and grade, throughout the topography, on strike and at depth. In addition, the team is commencing a comprehensive Induced Polarisation survey to explore the depth potential of these structures in preparation for the upcoming drilling programme,” he concluded.
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