Maxtech Ventures starts exploration program in Brazil
2017-03-03 04:31 PT - News Release
Mr. Peter Wilson reports
MAXTECH INITIATES PHASE I MANGANESE EXPLORATION PROGRAM IN BRAZIL
John Harper, BSc, PGeo, will be supervising Maxtech Ventures Inc.'s regional exploration programs.
Peter Wilson, chief executive officer, said: "The market for manganese is threefold, in fertilizer it is an essential nutrient in photo synthesis creating greener crops, for steel production in the creation of alloys and of course in high-grade form it is becoming more prevalent in the battery market. Maxtech is well positioned to increase its license holdings as it conducts these regional exploration programs."
Prospecting and mapping, combined with systematic geochemical soil surveys and ground-based geophysical surveys, will be performed to identify and develop manganese mineralization and its trends. There are two styles of manganese mineralization and each method requires different techniques to explore and develop the resource. Mineralization occurs as local cobbles and clasts within the colluvium and saprolite horizons above weathered hydrothermal pyrolusite-bearing veins and the hydrothermal veins themselves.
The current exploration program is designed to test the character and expand the size of colluvium showings that have been identified on the property. Close control for the dimensions and grade will be accomplished utilizing techniques including hand-dug pits, mobile auger drills and trenching with backhoes.
Maxtech's green field exploration strategy for areas with extensive forest cover will be inexpensive, quick and effective while having the least surface disturbance of any exploration method. The hydrothermal vein mineralization is hosted beneath the surficial, weathered horizons. Development of these showings will require further geophysical surveys, both ground and airborne based. Follow-up by traditional core drilling is expected as exploration advances. The technical information contained in this news release has been reviewed and approved by Mr. Harper, who is a qualified person with respect to Maxtech's manganese project as defined under National Instrument 43-101.
The company also announces that pursuant to the company's stock option plan, it is issuing 1.5 million incentive stock options at an exercise price of 47 cents per share to certain officers, directors and consultants. In accordance with the company's stock option plan, the options granted are exercisable for up to five years from the issue date.
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