Maxtech Ventures Inc. (CSE:MVT,OTC:MTEHF, Frankfurt:M1N) is a Canadian junior exploration company focused on building a portfolio of advanced exploration assets. The company’s flagship property is the Panama Lake advanced-stage gold exploration project in the premier mining district of Red Lake, Ontario.
Ontario’s Red Lake mining district is one of the largest and highest-grade gold camps in North America with historical production totaling more than 30 million ounces. Red Lake has become a hotbed of exploration activity in recent years following Great Bear Resources’ (TSXV:GBR, OTC:GTBDF) Dixie Lake discovery which sparked a staking rush in the region. Maxtech Ventures’ Panama Lake gold project is on trend with Dixie Lake and is fully-permitted for drilling. The company has delineated 4 separate target areas and is planning a 4,000-meter drill program to begin in early 2020.
Maxtech’s most recent acquisition gives the company a strategic land position near another key discovery in a world-class mining district. Maxtech now has a 100 percent interest in a 216-hectare land package contiguous and directly adjacent to Azimut Exploration’s (TSX:AZM) discovery at its Elmer gold property in the James Bay region of Quebec. In January 2020, Azimut announced drill results of 3.15 g/t gold over 102 meters including 10.1 g/t gold over 20.5 meters and shortly after completed a C$6 million financing. Maxtech is reviewing historical data in the area and considering the acquisition of additional large claim blocks.
Maxtech Ventures’ Company Highlights
- Acquiring projects in premier mining districts, including Red Lake, Ontario and James Bay, Quebec.
- Owns an advanced exploration asset ready to start drilling in the Red Lake mining district.
- Panama Lake gold project is fully-permitted for drilling and on-trend with Great Bear’s Dixie Lake discovery in Red Lake mining district.
- Two-phase drill program planned for 2020 with four separate drill targets.