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Maxtech Ventures Inc

Maxtech Ventures "very close" to green light to start mining at Mato Grosso

In an operational update, Maxtech said it had received the final Juina claims geological review earlier this year

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At Mato Grosso, the firm currently has four claims totalling 40,000 ha

Manganese-focused Maxtech Ventures Inc (CSE:MVT) is "very close" to  obtaining final approval to start initial mining at its flagship properties in Mato Grosso, Brazil.

In an operational update,  Maxtech said it had received the final Juina claims geological review earlier this year, which is the key element to the Guia (or trial mining) process of the relevant Brazilian authorities.

"We are pleased to share these operational updates for our flagship properties in Brazil," said Peter Wilson, chief executive at Maxtech Ventures.

"We are very close to obtaining final approval to commence initial mining operations in Mato Grosso, where we currently have four claims totaling 40,000 hectares.

"These claims contain numerous manganese occurrences, discovered through reconnaissance prospecting, and we are progressing well within the timeframe we have set to ramp up a full mining plan."

As previously noted, at the Brasnorte project, mean levels obtained on the claim were over 50% manganese metal.

In cooperation with the University of Brasilia and the Instituto de Geosciencias, Maxtech has engaged students, professors and accompanying geologists to begin work immediately on the firm's additional claims in order to begin fast-tracking additional applications for trial mining licenses (Guia) for the Brasnorte project, Maxtech said in the regulatory filing.

It's been a  busy period for the firm. Earlier this month, it said it had filed for two large-scale exploration licences in Zambia, where there was the potential for high grade manganese.

The licences have detailed exploration and production outlines for up to four years, covering cobalt, vanadium, nickel and copper mining rights.

Quick facts: Maxtech Ventures Inc

Price: $0.09

Market: CSE
Market Cap: $4.81 m
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