Maxtech Ventures acquires Mn claims in Brazil
Maxtech Ventures Inc (2)(OTC:MTEHF) (C:MVT)
Shares Issued 48,786,448
Last Close 3/31/2017 $0.57
Wednesday April 5 2017 - News Release
Mr. Peter Wilson reports
MAXTECH ACQUIRES MANGANESE CLAIMS IN THE STATE OF AMAZONAS, BRAZIL
Maxtech Ventures Inc. has closed an arm's-length binding agreement to acquire 9,999.23 hectares of additional mineral claims with indications of manganese in the state of Amazonas, Brazil. The terms of the acquisition include the payment of $35,000 (U.S.) and the issuance of 300,000 common shares of Maxtech, the transaction is subject to the Canadian Securities Exchange and other regulatory body approvals. Maxtech has now amassed over 50,000 hectares of exploration claims in the region.
Amazonas is a state in Brazil located in the northwestern corner of the country; it is the largest Brazilian state by area and the ninth largest country subdivision in the world, being greater than the areas of Uruguay, Paraguay and Chile combined. Export of mineralized materials from the claim area could be done by truck to river transportation by barge to the port of Manaus, in Amazonas. Manaus is an important commercial centre for ocean-going vessels travelling the Amazon and is the main transport hub for the entire upper Amazon basin, with access to the Atlantic ocean for exporting products globally.
The manganese mineralization observed in the area is similar to the company's Juina claim areas in Mato Grosso and the Espigao area of the state of Rondonia. Extensive exploration is planned for both hydrothermal vein style deposits and colluvium rich, clast deposits.
Maxtech chief executive officer Peter Wilson stated: "The size of the surface showings are significant with cobbles the size of a small car. We are very excited to have again expanded our direct ownership with claims in Amazonas. The company continues to grow with our goal to be one of the largest explorers for manganese claims in Brazil."
