Max Resource Provides Update on its Florália Hematite Iron Ore Project, Mina Gerais State, Brazil [Yahoo! Finance]
ASX LTD UNSP/ADR (ASXFY)
NASDAQ:AMEX Investor Relations:
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Company Research
Source: Yahoo! Finance
provide an update in relation to the Company's news release dated November 4, 2024. The Company has added a wholly-owned Australian entity, Max Iron Brazil Ltd. ("Max Brazil") to hold the "Florália Brazilian Assets" within the existing Canadian and Brazilian holding entities. The Company plans to seek listing on the ASX Limited ("ASX" or "Australian Stock Exchange"), prior to a pre-listing financing directly into Max Brazil to fund the proposed transaction and to advance drilling. Florália Hematite Exploration Update Max Resource reports high-resolution drone magnetics at Florália has identified a large anomalous zone of surficial outcropping high-grade mineralization associated with hematite/itabirite type iron formation. The size of the anomalous area has far exceeded the approximate 160m by 160m historic open cut to around 1,500m by 1,000m based on the drone magnetics, field activities and 58 channel samples (Refer to Figure 1). Max's technical team has reviewed the new drone
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