logo-loader
Mining
viewMaxtech Ventures Inc

Maxtech Ventures set to acquire two vanadium mineral claims in Brazil

The claims lie next to the producing Maracas Menchen vanadium mine and the Campbell pit deposit

 Maxtech Ventures set to acquire two vanadium mineral claims in Brazil
Maxtech has also formed an exploration research team to work on identifying further vanadium deposits in Brazil

Maxtech Ventures Inc (CSE:MVT) updated on activity in Brazil Monday, saying it had filed paper work for the acquisition of two vanadium mineral claims in the state of Bahia.

The resource group also said it had established a vanadium exploration research team.

The claims referred to above are next to the producing Maracas Menchen vanadium mine and the Campbell pit deposit, which is being developed by Toronto-listed Largo Resources (TSE:LGO).

Largo aims to produce vanadium flake, high-purity vanadium flake and high-purity vanadium powder.

The two claims were submitted to the relevant government department in Brazil on July 20 this year.

Together, they encompass 3,500 hectares and lie in the eastern Bahia state of Brazil, which is around 250km southwest of Salvador and 813 km northeast of the capital of Brazil in Brasilia near the city of Maracas.

Maxtech also said in today's release it was forming a vanadium exploration research team to work on identifying further potential vanadium mineralization deposits in other Brazilian areas of interest where the company has established high-grade manganese assets.

Maxtech is currently  finalizing a due diligence review program and will be organizing its local geological team to conduct a research report on the claims once approval of its filings is granted.

"The new generation of batteries being manufactured are establishing manganese and vanadium as the strategic tech minerals of the future," said Peter Wilson, the chief executive at Maxtech.

"The vanadium mineralization observed and successfully mined in the area by Largo Resources and our current operations in Brazil made Bahia a logical step for Maxtech.

"We look forward to acquiring additional claims with potential vanadium mineralization in other jurisdictions as well."

Quick facts: Maxtech Ventures Inc

Price: 0.085 CAD

CSE:MVT
Market: CSE
Market Cap: $4.81 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Maxtech Ventures Inc named herein, including the promotion by the Company of Maxtech Ventures Inc in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

PDAC 2015 presentations: Largo Resources

Mark Brennan, president, chief executive and director of Largo Resources (CVE:LGO), presents to investors at the PDAC Power Breakfast 2015.

on 19/3/15

2 min read