Maxtech Files for Two Large Scale Manganese Exploration Licenses in Zambia
May 8, 2018 (Source) — Formalizes Zambian Subsidiary “MMZL”
Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) through its subsidiary, Maxtech Mining Zambia Limited (“ Maxtech Zambia or MMZL”), is pleased to announce that it is filing for two large scale exploration licenses in Zambia.
Maxtech Zambia is preparing the final documentation and filing of two large scale exploration licenses in the Central Province of Zambia. The two specific license areas have shown the potential for high-grade manganese mineralization with grades up to 70% Mn as well as vanadium from initial research prepared by the Company’s Zambian-based geology team, GeoQuest. The exploration licenses have detailed exploration and production outlines up to 4 years covering cobalt, vanadium, nickel and copper mining rights on the areas.
Maxtech Zambia will continue to utilize the services of Lusaka-based geological and exploration consultants GeoQuest Limited to conduct exploration activities and manage all MMZL operations on the ground in Zambia. Their work will initially concentrate on the search for and evaluation of commercially viable quantities and grades of manganese ore with a view to applying for mining licenses as quickly as possible if warranted. GeoQuest will also serve as the authorized agent to the Zambia Chamber of Mines (ZCM) for Maxtech Zambia.
On April 23, 2018, the Company received final approval for the formation of its subsidiary Maxtech Zambia Mining Limited (“Maxtech Zambia”) from the Patents & Companies Registration Agency (PACRA) in Zambia. Maxtech Zambia is located in Lusaka and registered as an exploration and quarrying company and has commenced operations. Jonathan Ambali of BDO Zambia Limited as well as Peter Wilson CEO of Maxtech will hold Directorships in the subsidiary.
“Zambia is a world class mining jurisdiction. Applying for our first wholly owned license areas is in step with creating a larger manganese footprint utilizing our global strategic relationships and potential offtake partners in foreign markets,” noted Peter Wilson, CEO of Maxtech.
GeoQuest is a fully independent Geological (Geotechnical), Environmental, GIS and Hydrogeological Consultancy and Contract Services Group based in Southern / Central Africa. The company has offices in Zambia, The Democratic Republic of Congo and Zimbabwe but has also worked in Botswana, Gabon, Malawi, Mozambique, Namibia, Republic of Congo, Rwanda, Uganda and Tanzania. http://www.geoquest.co.zm
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation focused primarily on manganese mineral properties.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.