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."