Explorer Secures High-Grade Gold-Silver Title in Colombia

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MAX Resource Corp. (MAX:TSX.V; MXROF:OTCBB) announced that its wholly owned Colombian subsidiary, Maximum Company Colombia SAS, entered into a purchase agreement to acquire up to 100% of Inversione's Villamora SAS. Villamora holds mining concession No. KK6-08031, known as the Mora gold-silver title, covering 713 hectares in the Middle Cauca gold belt, 85 kilometers south of Medellin, Colombia.

The Mora concession includes 40 historic workings, five active artisanal mines, and polymetallic structures extending 2,500 meters by 1,000 meters. The title borders Aris Mining's Marmato project along a 3.4-kilometer eastern boundary and Collective Mining's Guayabales project to the north, west, south, and eastern vertical boundaries over 4.8 kilometers.

Channel sampling on the Mora property has reported grades including 45.0 grams per tonne (g/t) gold with 7,110 g/t silver over one meter, 27.0 g/t gold with 732 g/t silver over one meter, and 36.7 g/t gold over two meters. The company noted that mineralization identified at Marmato and the Apollo porphyry discovery may not necessarily be indicative of mineralization on the Mora title.

Max chief executive officer Brett Matich stated in the news release, "The Mora gold-silver title is of significant size, and provides both a high-grade Marmato type target, clearly manifested by the numerous small-scale mines and geological proximity, and an underlaid Apollo porphyry type target, again with geological proximity and the series of polymetallic structures, which occur on all the targets for the adjacent Guayabales gold project, including the recent Apollo discovery." He added, "We are excited about the opportunity of being the first exploration company to conduct significant exploration on the Mora title. Our in-country expertise abodes well to acting as the sole operator."

Terms of the purchase agreement include staged cash payments in U.S. dollars to Villamora shareholders, beginning with four option payments totaling US$400,000. If Max proceeds, further payments of US$1 million, US$1 million, US$2 million, and US$4 million would advance its ownership in 20% increments to 100%. A 3% net smelter royalty on future production is also included.

Historical work on the property has been limited. A Crown Gold Corp. report in 2012 documented artisanal mining and channel sampling, with weighted average results of 13.2 g/t gold over 5.9 meters and 1,647 g/t silver. More recently, Max conducted reconnaissance in April 2025, identifying multiple mineralized polymetallic structures across the San Juan sector and additional structures trending toward Marmato.

The company also reported that Max Brazil, a separate subsidiary, closed the fourth tranche of a non-brokered private placement, raising gross proceeds of AU$2.74 million from 27.4 million ordinary shares priced at 10 Australian cents. Proceeds are being used for the Floralia direct shipping ore (DSO) project and working capital.

Shifting Currents in Precious Metals

An August 17 technical analysis from CaptainEwave applied Elliott Wave theory to both metals, suggesting silver was "moving higher in wave 3" with intermediate projections at 48.05 and a longer-term target at 86.50. For gold, the analysis indicated that wave -iv- was either continuing in a triangle pattern or had ended, with both interpretations pointing to "a very sharp thrust higher in wave -v-." The commentary emphasized that both metals remained in upward wave structures across longer cycle counts.

On August 19, Stewart Thomson of Gold321 highlighted that gold reached US$3,500 in late April before consolidating for several months. He noted that "gold stocks generally keep making higher highs even while gold trades sideways," pointing out that senior producers had shown "upside action" since late 2023. Thomson described the current setup as "one of the most spectacular base pattern breakouts in the history of markets," citing strong institutional buying alongside subdued retail sentiment.

Also on August 19, PauloMacro reflected on the cyclical nature of commodities, drawing comparisons between uranium and silver. Recalling the broad commodity rally of the 2000s, he remarked that "everything in commodities was rallying back then…bull markets have a knack for making geniuses out of everyone." His comments reinforced the view that precious metals markets often recover strongly following periods of weakness.

Matthew Piepenburg added context on August 20, linking gold's performance to fiscal conditions in the United States. He pointed to the country's high debt-to-GDP ratio as a factor limiting policy options and noted discussions of a potential gold revaluation. "The very fact that the U.S. is considering such a gold revaluation . . . is a constructive admission that gold has more trust, merit, confidence, and strength than a debased U.S. dollar and unloved UST," Piepenburg said.

An August 22 report from FXEmpire noted that gold traded under pressure as the U.S. dollar strengthened after Federal Reserve minutes emphasized persistent inflation risks, reducing expectations for aggressive policy easing. Futures markets priced in a roughly 75% probability of a quarter-point rate cut next month, down from full expectations a week earlier. Silver, however, posted modest gains, supported by safe-haven demand amid geopolitical uncertainty and domestic political tensions. Analysts noted silver's dual role as both a safe-haven and industrial metal, which has helped maintain demand despite headwinds from the stronger dollar.

Expert Endorsement of Max's Gold-Silver Play

On August 23, Rick Mills of Ahead of the Herd noted that Max Resource had secured a highly prospective concession in Colombia's Middle Cauca Gold Belt. He emphasized that Mora was considered prospective for both high-grade vein-style mineralization and porphyry-related bulk tonnage systems. According to Mills, "there is no question that the geology of Marmato continues across the Mora title (KK6-08031) boundary in the region of San Juan." He referenced a 2012 field visit documenting that all channel samples collected at Mora returned gold and silver values, with weighted averages of 13.2 grams per tonne gold over 5.9 meters and 1,647 grams per tonne silver. Mills highlighted that Mora's polymetallic structures, extending more than 2.5 kilometers, reinforced the property's significance within a major producing district.

In March and April 2025, Mills also reviewed Max's Florália direct shipping ore (DSO) project in Brazil. He noted that drone magnetics and channel sampling had significantly expanded the project's geological target from 8–12 million tonnes grading 58 percent iron to 50–70 million tonnes grading 55–61 percent iron. Mills described the results from surveys and assays as "impressive" and fundamental in confirming the project's potential. He added that environmental studies were under way and feasibility work was targeted for completion by the first quarter of 2026.

By late August 2025, Mills pointed to the combination of the Mora gold-silver concession, the Florália DSO project, and Max's ongoing copper-silver work at Sierra Azul as providing a diversified portfolio. Referring to channel samples at Mora that returned up to 45 g/t gold and 7,110 g/t silver over one meter, he remarked, "These are magnificent grades." Mills concluded that Max "offers outstanding value for shareholders to capitalize on a very exciting gold exploration project, in one of the richest gold-mining belts in the world."

Digging Into Catalysts

The Mora acquisition provides Max Resource with a position adjacent to two significant projects in Colombia's Middle Cauca gold belt, an area known for bulk-tonnage porphyry systems and high-grade vein deposits. According to the company's most recent 2025 corporate presentation, Max is also advancing two other projects: the Sierra Azul copper-silver project in northeastern Colombia and the Floralia DSO iron ore project in Brazil.

At Sierra Azul, Max is an operator under an earn-in agreement with Freeport-McMoRan Inc. (FCX:NYSE). A 2025 program funded at US$4.8 million includes geophysics, mapping, and geochemistry across the 200-kilometer-long Cesar basin. Early drilling at the URU district intersected copper grades up to 3.4% with 48 g/t silver over 10.6 meters. The AM district has returned channel results such as 1.6% copper and 6 g/t silver over 55 meters.

In Brazil, Max is advancing the Floralia hematite project through its Max Iron Brazil subsidiary. The project reported an exploration target of 50 to 70 million tonnes grading 55 to 61% iron and is located near major buyers, including Vale and ArcelorMittal. A pre-IPO financing raised AU$2.7 million, and the company received pre-approval to list on the Australian Securities Exchange. Environmental and mining filings are expected in 2025, with a feasibility study targeted for the first half of 2026.

Ownership and Share Structure

12.77% of Max Resource Corp is held by institutions, as per Refinitiv. Of them, Merk Investments LLC and Franklin Advisors hold the most, with both at 4.56%. 

Management and Insiders hold 5.87%. Brett Robert Matich owns the most with 5.32%. The rest is retail.

Max Resource Corp has a market cap of CA$7.81 million. It has 169.33 million free float shreas and 52-week range of CA$0.04 - CA$0.09.