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, Capital raise
- Extracted
- 2026-08-21 22:58:14 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Max Resource reported successful dry magnetic test work at its Florália Hematite DSO Project in Brazil, yielding iron concentrates up to 69.5% Fe with 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 and a successful private placement, though it cautions that XRF results are not definitive chemical assays.
Positive factors
- High-grade iron ore concentrates achieved (up to 69.5% Fe)
- Strong recovery results from dry magnetic testing
- Successful capital raise for Max Brazil subsidiary
- Strategic infrastructure proximity mentioned
Negative factors
- Results based on handheld XRF (not chemical analysis)
- No internal standards or blanks inserted by company in assay stream
- Project is still in early exploration stage (conceptual tonnage)
Facts used in scoring: 8
Classification and evidence
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: Test work described as preliminary dry magnetic tests on 80kg bedrock samples.
Evidence · text
“Max collected 6 bedrock 80kg samples (FL-001 to 006)”
No QA/QC Disclosurenegative · Story-specific tag
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: Company explicitly stated they did not insert standards or blanks in the assay stream.
Evidence · text
“Max did not insert standards or blanks in the assay stream”
Extracted facts
Stored fact records: 8. Some facts used in scoring do not have a stored record.
Metallurgical Results (8)
dry magneticiron_oreRecovery: 81 %Head Grade: 59.7Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Sample
- FL-001 6mm fraction sample
Recovery
- Recovery
- 81 %
- Recovery Basis
- actual_test
- Head Grade
- 59.7
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: High-grade iron concentrate achieved via magnetic separation.
Positive factors
- High grade concentrate (69.5% Fe)
- Strong recovery (81%)
Negative factors
- XRF analysis used instead of chemical assay
Evidence · text
“FL-001: 69.5% Fe at 81% recovery from 59.7% 6mm fraction sample”
dry magneticiron_oreRecovery: 73 %Head Grade: 59.7Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Sample
- FL-002 6mm fraction sample
Recovery
- Recovery
- 73 %
- Recovery Basis
- actual_test
- Head Grade
- 59.7
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Standard recovery result for the test program.
Positive factors
- Solid recovery and grade
Negative factors
- XRF analysis used
Evidence · text
“FL-002: 66.9% Fe at 73% recovery from 59.7% 6mm fraction sample”
dry magneticiron_oreRecovery: 78 %Head Grade: 64.9Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Sample
- FL-003 2mm fraction sample
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Head Grade
- 64.9
- 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 results from the finer 2mm fraction.
Positive factors
- High grade and recovery
Negative factors
- XRF analysis used
Evidence · text
“FL-003: 68.7% Fe at 78% recovery from 64.9% 2mm fraction sample”
dry magneticiron_oreRecovery: 76 %Head Grade: 57.5Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Sample
- FL-004 12mm fraction sample
Recovery
- Recovery
- 76 %
- Recovery Basis
- actual_test
- Head Grade
- 57.5
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Results from the coarser 12mm fraction.
Positive factors
- Acceptable recovery
Negative factors
- Lower grade head feed
Evidence · text
“FL-004: 61.8% Fe at 76% recovery from 57.5% 12mm fraction sample”
dry magneticiron_oreRecovery: 78 %Head Grade: 46.2Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Sample
- FL-005 6mm faction sample
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Head Grade
- 46.2
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Recovery is good despite lower head grade.
Positive factors
- Good recovery
Negative factors
- Low head grade
Evidence · text
“FL-005: 60.2% Fe at 78% recovery from 46.2% 6mm faction sample”
dry magneticiron_oreRecovery: 67 %Head Grade: 47.8Head Grade Unit: %View all detailsHide details
Identity
- Commodity
- iron_ore
- Ticker
- MAX
Test Work
- Program Status
- preliminary
- Test Type
- dry magnetic
- Sample
- FL-006 2mm fraction sample
Recovery
- Recovery
- 67 %
- Recovery Basis
- actual_test
- Head Grade
- 47.8
- Head Grade Unit
- %
Lab
- Laboratory
- Inbras Laboratory Brazil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Relatively lower recovery for this sample set.
Negative factors
- Lower recovery compared to other samples
Evidence · text
“FL-006: 59.3% Fe at 67% recovery from 47.8% 2mm fraction sample”
Fact 7copperView all detailsHide details
Identity
- Commodity
- copper
- Ticker
- MAX
Test Work
- Sample
- CS11 channel sample
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Strong copper-silver intercept at Sierra Azul.
Positive factors
- Significant width and grade
Evidence · text
“1.6% Copper & 6 g/t Silver over 55.0m (CS11)”
Fact 8silverView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- MAX
Test Work
- Sample
- CS11 channel sample
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-04-22T00:00:00.000Z
Reasoning: Silver byproduct in copper intercept.
Positive factors
- Significant silver grade
Evidence · text
“1.6% Copper & 6 g/t Silver over 55.0m (CS11)”
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.