Max Resource Reports High-Grade Iron Ore (Fe) Results from Florália Hematite DSO Project in Minas Gerais, Brazil
Original announcement by tmx on
- Company
- MAX RESOURCE CORP.
- Ticker
- MAX
- Exchange
- TSX
- Region
- Minas Gerais, Brazil
- Primary commodity
- Iron ore
- Secondary commodities
- Copper, Silver
- Document categories
- Metallurgy, Drill results, Capital raise
- Extracted
- 2026-09-14 11:15:31 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Max Resource reports successful preliminary dry magnetic test work at the Florália Hematite DSO Project in Brazil, yielding iron grades up to 69.5% Fe and recoveries up to 81%. The company also announced a successful AUD $2.73 million private placement for its subsidiary, Max Brazil, to support an upcoming ASX listing.
Reasoning: The announcement reports successful preliminary metallurgical test work for iron ore at the Florália project, alongside a capital raise for its Brazilian subsidiary. While grades are high, the company explicitly cautions that XRF is not chemical analysis and a resource is not yet defined.
Positive factors
- High-grade iron ore results (up to 69.5% Fe)
- Strong recovery results from dry magnetic testing (up to 81%)
- Strategic location with existing rail and road infrastructure
- Successful capital raise for Max Brazil subsidiary
Negative factors
- Results based on handheld XRF (not chemical analysis)
- Insufficient exploration to define a mineral resource
- No internal standards or blanks inserted in the assay stream
Facts used in scoring: 9
Classification and evidence
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release mentions that all samples have been sent to ALS Laboratories for follow up chemical analysis and discusses ALS's internal QA/QC.
Evidence · text
“All samples have been sent to ALS Laboratories for follow up chemical analysis.”
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: The company explicitly states they did not insert their own standards or blanks in the assay stream for the XRF results.
Evidence · text
“Max did not insert standards or blanks in the assay stream and is relying on ALS's lab QA/QC.”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a flotation route ("concentrate")
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 9 distinct composites were tested
Extracted facts
Stored fact records: 9. Some facts used in scoring do not have a stored record.
Metallurgical Results (9)
dry magneticiron_oreRecovery: 81 %Head Grade: 69.5Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Processing Route
- dry magnetic
- Sample
- FL-001 59.7% 6mm fraction sample
Recovery
- Recovery
- 81 %
- Head Grade
- 69.5
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Exceptional iron grade and recovery for a DSO project, though based on preliminary XRF testing.
Positive factors
- High grade (69.5% Fe)
- High recovery (81%)
Negative factors
- Handheld XRF used
- No internal QA/QC standards/blanks mentioned
Evidence · text
“FL-001: 69.5% Fe at 81% recovery from 59.7% 6mm fraction sample”
dry magneticiron_oreRecovery: 73 %Head Grade: 66.9Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Processing Route
- dry magnetic
- Sample
- FL-002 59.7% 6mm fraction sample
Recovery
- Recovery
- 73 %
- Head Grade
- 66.9
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Strong iron grade and recovery from preliminary testing.
Positive factors
- Strong iron grade
Negative factors
- Handheld XRF used
Evidence · text
“FL-002: 66.9% Fe at 73% recovery from 59.7% 6mm fraction sample”
dry magneticiron_oreRecovery: 78 %Head Grade: 68.7Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Processing Route
- dry magnetic
- Sample
- FL-003 64.9% 2mm fraction sample
Recovery
- Recovery
- 78 %
- Head Grade
- 68.7
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Strong iron grade and recovery from preliminary testing.
Positive factors
- High grade and recovery
Negative factors
- Handheld XRF used
Evidence · text
“FL-003: 68.7% Fe at 78% recovery from 64.9% 2mm fraction sample”
dry magneticiron_oreRecovery: 76 %Head Grade: 61.8Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Processing Route
- dry magnetic
- Sample
- FL-004 57.5% 12mm fraction sample
Recovery
- Recovery
- 76 %
- Head Grade
- 61.8
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Moderate iron grade and recovery from preliminary testing.
Positive factors
- Solid recovery
Negative factors
- Handheld XRF used
Evidence · text
“FL-004: 61.8% Fe at 76% recovery from 57.5% 12mm fraction sample”
dry magneticiron_oreRecovery: 78 %Head Grade: 60.2Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Processing Route
- dry magnetic
- Sample
- FL-005 46.2% 6mm fraction sample
Recovery
- Recovery
- 78 %
- Head Grade
- 60.2
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Moderate iron grade and recovery from preliminary testing.
Positive factors
- Solid recovery
Negative factors
- Handheld XRF used
Evidence · text
“FL-005: 60.2% Fe at 78% recovery from 46.2% 6mm faction sample”
dry magneticiron_oreRecovery: 67 %Head Grade: 59.3Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Processing Route
- dry magnetic
- Sample
- FL-006 47.8% 2mm fraction sample
Recovery
- Recovery
- 67 %
- Head Grade
- 59.3
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Lower grade and recovery compared to other samples in the set.
Negative factors
- Lower recovery compared to other samples
- Handheld XRF used
Evidence · text
“FL-006: 59.3% Fe at 67% recovery from 47.8% 2mm fraction sample”
Fact 7copperHead Grade: 1.6Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- copper
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Sample
- CS11 composite channel assay
Recovery
- Head Grade
- 1.6
- Head Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Strong copper-silver intercept at the Sierra Azul project.
Positive factors
- Significant width (55m)
Evidence · text
“1.6% Copper & 6 g/t Silver over 55.0m (CS11)”
Fact 8copperHead Grade: 1.6Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- copper
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Sample
- CS08 composite channel assay
Recovery
- Head Grade
- 1.6
- Head Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Strong copper-silver intercept at the Sierra Azul project.
Positive factors
- Significant width (49m)
Evidence · text
“1.6% Copper & 7 g/t Silver over 49.0m (CS08)”
Fact 9copperHead Grade: 1Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- copper
- Region
- brazil
- Reported Region
- Minas Gerais, Brazil
- Ticker
- MAX
Test Work
- Sample
- CS01 composite channel assay
Recovery
- Head Grade
- 1
- Head Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Moderate copper-silver intercept at the Sierra Azul project.
Positive factors
- Significant width (26m)
Evidence · text
“1.0% Copper & 6 g/t Silver over 26.0m (CS01)”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.