Proactive Investors - Run By Investors For Investors

Maxtech Ventures announces summer exploration program at Lac Patu vanadium project

The Quebec Ministère de l'Énergie et des Ressources Naturelles (MERN) has been notified of the planned activity
Maxtech Ventures announces summer exploration program at Lac Patu vanadium project
Vanadium is a newly emerging energy and strategic metal

Maxtech Ventures Inc (CNSX:MVT) (OTCMKTS:MTEHF) told investors it was poised for a summer exploration programme at the Lac Patu vanadium project in Quebec.

The Quebec Ministère de l'Énergie et des Ressources Naturelles (MERN) has been notified that the following activities will be undertaken on the claims starting on June 1 next year.

They include:

  • An on-site visit
  • surface geochemical sampling and mapping
  • A ground-based 1,000 line km geochemical survey

"Vanadium is a newly emerging energy and strategic metal for a new class of cost-effective battery storage technologies," Peter Wilson, the CEO of the Vancouver-based company, said in a statement.

"As the vanadium price-per-pound continues to reach all-time highs, Maxtech is motivated to begin phase one work programs on our Lac Patu vanadium prospect in Quebec."

READ: Maxtech Ventures taps industry veteran to advance Brazil vanadium exploration program

Maxtech's project comprises 72 mineral titles encompassing an area of 3,420 hectares. It is staked directly north and along the trend of Uranor's uranium discovery at Lac Minowean.

In 2009, Uranor and Areva conducted what's called a Versatile Time Domain Electro Magnetic (VTEM) survey over the area locating several targets, and only those with high radioactivity were drilled.

These nine holes on the east side of Lac Minowean found uranium, copper, cobalt and vanadium.

Geochemical values from drilling were reported as 8.03% vanadium (14.0% V2O5), 1.76% cobalt and 1.50% copper over 0.5 meters in the underlying dolomite.

The Lac Patu project lies in the area of the highest electromagnetic response identified by this VTEM survey, which is 3km from Uranor's discovery drilling.

Shares in Maxtech are unchanged in Toronto at $0.21 at the time of writing.

Contact Giles Gwinnett at [email protected]

Follow him on Twitter @Gile74

View full MVT profile View Profile

Maxtech Ventures Inc Timeline

Related Articles

Vast Resources
Wed
Vast expects to begin mining at Heritage concession before the end of the year
lights
Wed
When fully operational, Barruecopardo will account for around 13% of non-Chinese global supply of tungsten concentrates.
Workers underground at Prieska mine
April 17 2019
Orion has sorted an ownership milestone as it prepares a BFS and awaits a mining right.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use