VANCOUVER, British Columbia, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Maxtech Ventures Inc. (“Maxtech” or the “Company“) (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) announces restart of the exploration efforts St. Anthony Gold Mine Property in the Kenora Patricia mining district of Ontario, Canada.
Maxtech reports that the St. Anthony gold mine property has begun a systematic ramp-up of operations following the completion of on-site due diligence by Magabra Resources. The Magabra team has been on property for 3 weeks and will continue to adhere to provincial and federal COVID-19 guidelines. As the health and safety of our employees and communities remains our number one priority, operations will steadily ramp-up over the coming weeks with the overarching priority of ensuring we provide the safest possible environment for our employees. The Company will utilize the local workforce during the progressive start-up to operations.
The new bridgework is nearing completion and will allow safe road access to the St. Anthony Gold Mine site for the start of the upcoming drilling operations. The Company is waiting on approval of its’ Exploration Permit from ENDM Mining Lands before commencing the first phase of the infill drill program. The very experienced gold exploration staff is presently assembling all historical geological, geophysical and assessment data into a GIS format. The next phase is to model the historical data and develop a drill plan to produce a 43-101 inferred resource.
The drill program will focus on the St. Anthony Mine plus extend the gold bearing zone(s) to the north and south. Historical work from the late 1800’s to 1942 include pits, trenches and mine shafts outline an anomalous gold trend 17 km to 21 km long in a north-south strike. The St. Anthony Mine sits within this kilometre wide corridor.
Alasdair Mowat, an officer and director of Magabra Resources, will work as the main project advisor. Mr. Mowat was the Eastern manager for Pacific Iron Ore Corporation and its predecessor company Emerald Fields Resource Corporation. He is an honours graduate from Haileybury School of Mines (’70) with 53 years of exploration, management and administration experience. Furthermore, Mr. Mowat is the exploration/mining representative on the MNR’s Kenora Local Citizens Committee (KLCC) regarding forest operations of NW Ontario.
Andrew Tims, is joining the St. Anthony team and is a seasoned exploration geologist with more than 30 years of experience. Mr. Tims has worked in the gold camps of Geraldton, Kirkland Lake-Timmins and Red Lake including 8 years with Rainy River Resources in the Wabigoon greenstone belt of northwestern Ontario where he was part of the exploration team that expanded the Rainy River gold resource from 550,000 oz of gold in 2005 to over 6 million oz when it was acquired by New Gold.
Mr. Tims has led and managed a number of successful exploration projects including platinum exploration in the far north of Ontario, kimberlite (diamond) exploration in the Timiskaming structural zone, and volcanogenic massive sulphide exploration in the Abitibi and Wabigoon greenstone belts. Mr. Tims recently worked for the Ontario Geological Survey as the Regional Land-Use Geologist, Mineral Deposits Compilation Geoscientist for northwestern Ontario, and as a Mineral Exploration and Development Consultant dealing with Exploration Plan and Permit applications.
Mr. Tims obtained his B.Sc. in Geology from Carlton University in Ottawa, Ontario, and is a Registered Professional Geologist in Ontario and Manitoba and a Qualified Person under NI 43-101. He has reviewed and approved the technical contents of this news release.
About the St. Anthony Gold Mine
The St. Anthony Gold Mine is located in the Kenora-Patricia Mining District of Ontario and encompasses four historical mining operations including the largest past-producing mine in the area, the St. Anthony. The mine produced 63,310 ounces of gold from 332,720 tons for an average grade of 5.95 grams per tonne (or 0.191 ounces per ton) up until World War II when gold production was halted. (source: Technical Report on the St. Anthony and Best/King Bay Properties, prepared by Graeme Evans BSc, PGeo, June 16, 2015). The property consists of 233 contiguous claims totalling 4,224 hectares (42.24 sq. km). In addition to the historical underground workings over 20 gold (-silver) occurrences have been documented, some hosting visible gold, many of which have seen little if any exploration work for several decades. Previous workers in the area include Aubet, Can Con and Falconbridge, companies that carried out work focused on the bulk tonnage potential of a mineralized area hosted within a quartz-feldspar porphyry intrusive located within the property. The St. Anthony Gold Project is located 85 km east of the town of Sioux Lookout, or 13 km south of the smaller town of Savant Lake.
About Maxtech Ventures Inc.
Maxtech Ventures Inc., a Canadian-based diversified industries corporation, is focused on identifying and advancing high-value mineral properties.
For additional information see the Company’s web site at
http://www.maxtech-ventures.com
Email to info@maxtech-ventures.com
Phone: 604-484-0355
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.
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.