Maxtech Signs Joint Venture Agreement in Goiás, Brazil
April 11, 2018 (Source) — Advancing Brazilian Exploration with Established In-State Operating Partner
Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that it has signed a joint venture with Fabio Cardoso Carneiro, and Daniel Geyerhahn of Goldmen Resources Brazil (FCD), in the State of Goiás, Brazil.
Maxtech has entered into a joint venture agreement for development opportunities with FCD, for joint exploration, evaluation, and potential acquisition of manganese mineral deposits in the state of Goiás, Brazil. This agreement provides a framework and the opportunity for Maxtech to be able to access projects currently controlled by FCD and or currently under negotiation. Maxtech is currently evaluating several new claims owned by FCD and will update on their status once a research report has been completed.
Maxtech will have first right of refusal to joint venture with FCD on all mining claims that are deemed to have manganese mineralization. The Company and FCD will create a management operating agreement detailing terms of capital contributions by the parties and responsibilities of the parties to each other. Maxtech will develop exploration programs for each asset as well as procure offtake partnerships for each successful exploration program which leads to a production scenario. The term of this agreement is 3 years.
“Brazil’s Goiás state is due to receive foreign investments of US$730mn during 2017-18 in mining and mineral projects, local mining institute Ibram reported. The total figure, about US$450mn, will be invested by AngloGold Ashanti, Anglo American, Codelco, China Molybdenum Corporation (CMOC), Vale, Votorantim and Yamana. The midwestern state is home to large mineral developments such as Anglo American’s Barro Alto and Codemin ferronickel operations, Yamana’s Chapada gold mine and Vale’s Catalão fertilizer complex, among others.” (Frederico Barbosa; www.bnamericas.com)
“Maxtech and Maringá Ferro visited FCD in Goiás last September, joining forces with FCD exploring for manganese together seemed like a natural transition,” noted Peter Wilson, CEO of Maxtech. “Building an accomplished team in Brazil especially in the strong mining jurisdiction of the state of Goiás increases the potential to find larger manganese resources throughout Brazil and is pivotal to growing our pure-play manganese exploration status.”
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.
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