Maxtech Ventures Inc (CSE:MVT) updated on its Brazilian assets, where it is advancing the Brasnorte manganese project, the Maracás Menchen vanadium Mine and Campbell pit deposit and claims at Santana do Pirapama.
"We are pleased to bring our shareholders an update on our flagship assets in Brazil. Manganese and vanadium are globally high-value strategic metals," said Peter Wilson, chief executive at Maxtech.
"We will continue to build on our strategic metal asset base in Brazil as opportunities arise. Our current off-take partnerships stand ready to assist."
Assays of high-grade manganese
At Brasnorte, the focus is on four claims where assays showed high-grade manganese between 51.4% to 55.9%.
Maxtech said its in-country asset and exploration management team, will be traveling today to Cuiabá to meet with the Departamento Nacional de Produção Mineral (DNPM) to discuss the final stages of approval of the trial mining license (Guia) in order obtain the environmental and operating licenses that it needs to further its exploration and trial production initiatives.
At the vanadium assets, the firm's Brazilian based geologist and his vanadium experienced research team will be travelling to Bahia beginning the next stage of research on the claims.
There are additional areas of interest in the area which Maxtech is presently investigating, said Maxtech.
Finally, at Santana do Pirapama, Maxtech has signed a non-exclusive letter of interest to form a joint venture with a Brazilian based company on claims where manganese mineralization has been proven.
The claim-holders group and the potential joint venture partner have filed for a Guia trial mining license. Maxtech and its in-country partners are assessing the project.