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Maxtech Ventures Inc. is pleased to announce the Company's Brazil exploration and operational update on all activities in Brazil.
Maxtech has begun the next phase of operation on its portfolio of claims in the Juina area of Mato Grosso. The Company has four claims totaling near 40,000 ha in this area. These claims contain numerous manganese occurrences found through reconnaissance prospecting to date. Detailed prospecting and geological studies will follow up on these showings in our next phase of exploration in order to acquire a trial mining license ("GUIA"). Analyses of the grab samples taken from surcial cobbles located within these claims returned values of 51.4% to 55.9% Mn. (as released May 4th) The analyses were performed by SGS Geosol Laboratorios LTDA of Belo Horizonte, Brazil.
In conjunction with our strategic partner in Brazil, Maxtech has begun a new due diligence phase on additional claims with high-grade potential and a timeframe in which to ramp up a full mining plan in the Mato Grosso area.
Additionally, the Company is planning to expand its Brazilian operation into other states of the country including Rondonia and Goias. To that extent, the Company has signed a letter of interest with an existing manganese mining operation located in the state of Goias. The Company and its partner will initiate due diligence activities including a site visit in the coming weeks to evaluate the property for potential acquisition. Maxtech will report on its findings as research progresses.
Peter Wilson, CEO of Maxtech, said, "We continue to be excited about the Manganese industry and its future potential. The price and demand for high-grade Manganese is again on an upward trend. There are only a handful of junior pure-play Manganese explorers, this is an advantage Maxtech is looking to capitalize on as it expands its exploration claims in Brazil and strategic relationship with Maringá Ferro-Liga."
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversied industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.