Proactive Investors - Run By Investors For Investors

Maxtech Ventures excited about vanadium potential of new claims in Utah

The entire claim group has a maximum north-south extension of around 3.2km
Maxtech Ventures excited about vanadium potential of new claims in Utah
The claims are in Emery County, Utah

Maxtech Ventures Inc (CSE:MVT) is excited about its option to buy 100% interest in vanadium claims in Emery County, Utah.

The Temple mountain district has a big history of mining for vanadium and uranium, said Maxtech.

READ: Maxtech Ventures advancing its Brazilian assets; forms new manganese joint venture

Maxtech has signed a letter of intent to option 52 contiguous lode mining claims staked covering a total of 1,074 acres or around 435 hectares.

The entire claim group has a maximum north-south extension of around 3.2km and a maximum east-west extension of around 1.8 km.

"Demand for vanadium as a strategic metal has exploded as price surges hit recent highs from approximately $9.00 per pound last year to about $22.63 per pound supported by a high global demand. As a result, mining companies are returning to explore for vanadium with vigour," said Peter Wilson, chief executive at Maxtech.

Historical drill assays at Temple Mountain show maximum values of uranium (U3O8) of up to 1.85% and vanadium (V2O5) oxide of up to 4.97%, indicating pockets or restricted lenses of high-grade ore and uranium grades of up to 4% were also reported.

Mining began in the district in 1914, which was 16 years after its initial discovery in 1898.

READ: Maxtech Ventures makes another move in vanadium with Quebec acquisition

Artisanal activities were present between 1922 and 1978.

The optioned area is situated just north of the Utah State Park of Goblin Valley.

In today's statement, Maxtech drew attention to Energy Fuels (TSE:EFR, NYSEMKT:UUUU) which said last week it would restart operations in Blanding Utah and will resume vanadium production at its White Mesa Mill in mid-November this year.

Maxtech shares shed 4% on Tuesday to stand at $0.24 each.

View full MVT profile View Profile

Maxtech Ventures Inc Timeline

Related Articles

Resolute projects in Africa and Australia
April 10 2019
The miner produced 33% more gold last quarter, achieving record production at Syama in Mali.
A drill rig at the Australian Vanadium project in WA
April 14 2019
A revised resource model is on the agenda for the US$616 million The Australian Vanadium Project.
This Nanocube Memory Ink targets the global multi-billion dollar printed electronics market
February 11 2019
It has an Internet of Things data ink along with Pilbara ground prospective for conglomerate gold.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

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