Canada’s Max Resource has received a mining concession contract for five concessions for the URU district, located along the CESAR North copper-silver belt, within the CESAR project, northeastern Colombia.
The five strategic URU concessions are spread out on an area of 74km².
Go deeper with GlobalData
Since late 2021, the CESAR project secured a total of 20 concessions that span 188km².
Max CEO Brett Matich said: “The five strategic URU concessions provide secure tenure of the 20km-long URU district, including the URU-C and URU-CE copper-silver discoveries.”
The firm plans to undertake the first drilling programme targeting copper-silver mineralisation on its URU mining concessions. The diamond core drill rig is scheduled for mobilisation next month.
Matich added: “Concurrently, Max continues its regional exploration programmes along the 90km-long CESAR copper-silver belt, utilising its approximately $20 million treasury.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe contract for each mining concession has an initial term of 30 years. It also includes an extension for another 30 years, bringing the overall duration to 60 years.
The CESAR project is located along the 200km Cesar Basin, which produces copper and silver, in northeastern Colombia.
Earlier, Max signed a co-operation agreement with Endeavour Silver, whereby the latter agreed to assist Max in landholdings expansion at the CESAR project. Endeavour will own an underlying NSR of 0.5%.
Max is focusing on expanding three major copper-silver zones that are located along the CESAR belt.
