Subscribe
Be the first with the news that moves the market- Max Resource (MXR) has been granted three additional Mining Concession Contracts by authorities in Colombia
- That brings the total number of concession contracts on the company’s URU zone to four
- The four Mining Concession Contracts are contiguous and collectively cover 70 square kilometres
- The URU zone is located along the CESAR North 90-kilometre-long copper-silver belt, within its wholly-owned CESAR project in Northeastern Colombia
- Max Resource is up 2.38 per cent on the day, trading at $0.215 at 2 pm EST
Max Resource (MXR) has been granted three additional Mining Concession Contracts by authorities in Colombia.
That brings to four, the total number of concession contracts for the company’s URU zone.
Brett Matich, CEO of Max Resource sat down with Caroline Egan to discuss the contracts.
“These four strategic Mining Concession Contracts provide secure tenure of the URU zone and immediately forge the way for more advanced work programs, surveys and drill permitting,” said Brett.
“Achieving this critical milestone expedites Max’s first drill program at URU, being a significant event in the Cesar basin since the discovery of Cerrejón, the largest coal mine in South America and the basis for much of the critical infrastructure in the Cesar basin. Max’s exploration focus aligns directly with the Agencia Nacional de Minera’s strategy of copper exploitation and future development of the Cesar basin.”
The URU zone is located along the CESAR North 90-kilometre-long copper-silver belt, within its wholly-owned CESAR project in Northeastern Colombia.
The four Mining Concession Contracts are contiguous and collectively cover an expanse of 70 square kilometres. To date, copper-silver mineralization is identified over 48 square kilometres at the URU zone.
The URU zone remains open in all directions and has recorded highlight values of 14.8 per cent copper and 132 grams of silver per tonne, from sampling that included thirteen samples in excess of 3.0 per cent copper, sixty-nine samples in excess of 1.0 per cent copper and fourteen samples in excess of 15 grams of silver per tonne. Sample widths range from 0.5 to 25 metres.
Each of the Vancouver-based company’s Mining Concession Contracts has an initial term of 30-years and an extension for a further 30-years.
Max Resource (MXR) is up 2.38 per cent on the day, trading at $0.215 at 2 pm.
