- High-grade iron ore results from Max Resource Corp.'s (MXROF, Financial) Florália Project show Fe content from 59.3% to 69.5%.
- Max Brazil plans an IPO on ASX to raise AUD $6-10 million for the project's advancement.
- The Florália Project benefits from strategic infrastructure, including proximity to major DSO buyers Vale and ArcelorMittal.
Max Resource Corp. (MXROF) has reported significant advancements in its Florália Hematite DSO Project in Minas Gerais, Brazil. Results from its latest iron ore tests show exceptionally high-grade iron content between 59.3% and 69.5% across six bedrock samples, with recovery rates of 67% to 81%. This positions the project well above the standard benchmark of 62% Fe.
The project enjoys a strategic location with existing infrastructure, including a 15km road leading to a rail loading terminal. The proximity to established DSO buyers, Vale (16km NW) and ArcelorMittal (26km NE), further enhances its logistical advantage, facilitating efficient shipping to multiple steel mills and ports.
Max Brazil Iron, a subsidiary of Max Resource, has achieved an important milestone by receiving In-Principle Advice from ASX for listing. The company plans to raise between AUD $6-10 million by issuing 30-50 million shares at AUD $0.20 per share in an IPO. Funds from this offering will be directed towards advancing the Florália DSO Project and other operational needs.
