VANCOUVER, Sept. 26, 2018 /CNW/ - Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) ("Maxtech" or the "Company") today provides an update on the Company's strategic mineral asset projects in Brazil.
Peter Wilson, CEO Maxtech, stated, "We are pleased to bring our shareholders an update on our flagship assets in Brazil. Manganese and vanadium are globally high-value strategic metals. We will continue to build on our strategic metal asset base in Brazil as opportunities arise. Our current off-take partnerships stand ready to assist."
Brasnorte Manganese Project: Juína, State of Mato Grosso / Trial Mining License Update
The Brasnorte project assayed results of high-grade manganese between 51.4% to 55.9% over 4 mineral claims totaling 40,000 ha remain the Company's focus in the area. MLB DE Nogueira, our in-country asset and exploration management team, will be traveling today to Cuiabá to meet with the Departamento Nacional de Produção Mineral ("DNPM") to discuss the final stages of approval of the trial mining license (Guia) in order obtain the environmental and operating licenses that the Company needs to further its exploration and trial production initiatives. The Guia documentation details how mining the manganese claims will be determined, using backhoes, rippers, draglines and other equipment. Once the first Guia is approved, Maxtech will coordinate the filing of the next Guia submissions on the remaining claims, so that the entire area in the Brasnorte Project can begin production.
Vanadium: Maracás, State of Bahia
A total of 3,500 hectares located in the eastern state of Bahia close to Largo Resources' producing Maracás Menchen Vanadium Mine and their Campbell pit deposit, were staked on July 20th, 2018. The Company's Brazilian based geologist and his vanadium experienced research team will be traveling to Bahia beginning the next stage of research on the claims. There are additional areas of interest in the area which Maxtech is presently investigating.
Santana do Pirapama, Minas Gerais
Maxtech has signed a non-exclusive letter of interest in Minas Gerais to joint venture with a Brazilian based company on claims where manganese mineralization has been proven under DNPM No. 830.839/2014. The Claimholders Group and the potential joint venture partner have filed for a Guia trial mining license. Maxtech and its in-country partners are assessing the project.
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian-based diversified industries corporation focused primarily on manganese and strategic mineral properties.
For additional information see the Company's web site at http://www.maxtech-ventures.com .
Further information about the Company is available on http://www.SEDAR.com under the Company's profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Maxtech Ventures Inc.
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