Click to view Choco project map
MAX has 100% ownership of 82 and 50% ownership of 7 mineral license applications, totaling over 1,757 square kilometres, located within Choco Department approximately 100km SW of the city of Medellin, Colombia. Compania Minera del Choco Pacifico (“Choco Pacific”) produced 1.5 million ounces of gold and 1.0 million ounces of platinum from the “Choco District” between 1906 to 1990, largely limited to an average depth of 8 meters or less.
• Visible gold was recovered from samples taken from each of the first five trial pits
• The area of on-going exploration has expanded to 36 sq km surface area (open in all directions)
• Confirmation of vertical thickness of 12 meters from outcrop in the central area of the 36 sq km highlights
• Processing of the gold bearing conglomerate from the six 2m by 2m by 30cm trial pits and the two outcrops continues and results will be reported as received and verified
• The Specific Gravity of the gold bearing conglomerates is confirmed as 2.2
• Field exploration continues, with the objective of increasing the lateral extent of the conglomerates and gold mineralization of the Company’s Choco Precious Metals district area
“The continuing exploration success suggests MAX may well be on the cusp of a new gold discovery. The results of this exploration program will provide an indication of the scale of this project.”
– Brett Matich, MAX President & CEO
As shown in the above Exploration Strategy Schematic, the Company is working on an exploration model where the gold bearing conglomerates have formed at the base of the western slopes of the mountains to the east. The Company considers systematic bulk sampling at surface to be the most practical means of determining grade, processing characteristics and the lateral extent of the flat-lying gold bearing mineralized system. Sampling exposed faces of outcrops will provide initial assessment of thickness, depth and vertical continuity of the gold through the system.
• The six 2m by 2m by 30cm deep trial pits are excavated from surface by pneumatic hammer
• A measured specific gravity of 2.2 indicates + 2,000 kg of hard rock conglomerate is collected from each pit
The on-going exploration in the central part of the mineralized area indicates a vertical thickness of 12metres. Samples were taken down the face of the outcrop to determine gold distribution vertically through the conglomerate. Analytical results are pending.
MAX’s Choco Precious Metals Project (“Choco Project”) covers or is adjacent to much of Choco Pacific’s historic exploration and production areas. Choco Pacific historic reports indicate the hard rock conglomerates underlying the production areas are gold-bearing, extensive, shallow and generally flat lying with thicknesses from a few metres to 20 metres.*
*(Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd)