VANCOUVER, British Columbia, May 16, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – Maxtech Ventures Inc. (CSE:MVT) (Frankfurt:M1N) (OTC:MTEHF) (“Maxtech” or the “Company”) provides updates on operations at the Company’s flagship properties in Juina in Mato Grosso, Brazil.
Maxtech’s Brasnorte Project is located in Juina, Mato Grosso, and mean levels obtained on the claim were 50%+ manganese metal, with analyses performed by SGS Geosol Laboratorios LTDA., Belo Horizonte, Brazil, as noted in the Company release of May 4, 2017. Maxtech received the final Juina claims geological review announced on March 12, 2018, which is the key element to the Guia process of the Brazilian Departamento Nacional de Produção Mineral (DNPM). The Brazil-based geologist noted the claim is composed of manganese mineralization with structural characteristics of tectonic interleaving where the outcrops are well exposed within the area.
The trial mining license, or Guia application, prepared by the Brazil-based geologist has been successfully lodged with the Brazil mining authority, Departamento Nacional de Produção Mineral (“DNPM”), and all the associated fees have been paid and confirmation of the processo code has been received. The Plano De Controle Ambiental (“PCA”), which is an environmental control plan enabling the claims to be licensed in the Environmental Institute, has been completed and submitted to the Mato Grosso State Environmental Agency (“SEMA”), and all applicable fees have been tendered. The environmental authorities of the state of Mato Grosso, Brazil, (SEMA), upon approval of the plan, will then grant the Preliminary Environmental License (“LP”). The team in Brazil, led by MLB DE Nogueira, additionally filed a Licenca de Operacao, or operations license, in Cuiaba with SEMA to speed up the process for the trial mining license (“Guia”). The Maxtech team is now awaiting notification of visits by government agents in the vetting of our trial mining application for final approval to begin initial mining operations in Mato Grosso.
In cooperation with the University of Brasilia and the Instituto de Geosciencias, Maxtech has engaged students, professors and accompanying geologists to begin work immediately on the Company’s additional claims in order to begin fast-tracking additional applications for trial mining licenses (“Guia”) for the Brasnorte Project. The objective is to use state-of-the-art technology and generate master’s and doctorate jobs for students of this institution in a system of technical cooperation between the school and Maxtech. A few methods to be used include: GPR (radar), electro-resistance, induced polarization and geological mapping. All work will be done by means of research meshes, in parallel lines (06) of 500m each and depths of advance in 70m. After the acquisition of the data, field anomalies will be marked as well as progress reports. The development of these prospective activities will always be linked to the university, and the participation of teachers and students is done continuously with mining companies. Maxtech will continue collaborating with geological institutes in the region and supporting the efforts of universities in Brazil.
“We are pleased to share these operational updates for our flagship properties in Brazil,” stated Peter Wilson, CEO of Maxtech Ventures. “We are very close to obtaining final approval to commence initial mining operations in Mato Grosso, where we currently have four claims totaling 40,000 hectares. These claims contain numerous manganese occurrences, discovered through reconnaissance prospecting, and we are progressing well within the timeframe we have set to ramp up a full mining plan.”
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian-based diversified industries corporation focused primarily on manganese mineral properties.
For additional information see the Company’s web site at http://www.maxtech-ventures.com
Email to info@maxtech-ventures.com
Phone: 604-484-8989
Further information about the Company is available on 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.
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