Maxtech Ventures is a Canadian resource exploration and development company with diversified mining assets in Canada and internationally.
| February 22, 2010 Maxtech Ventures Inc. Subsidiary Granted Concession In Lalitpur District, Uttar Pradesh, India | |
| MAXTECH VENTURES INC. (the "Company") is pleased to announce that its Indian subsidiary, Maxtech Resources Private Limited, has been granted a Reconnaissance Permit (RP) in the Lalitpur District, Uttar Pradesh (U.P.) India to explore for platinum group minerals and gold mineralization subject to the signing of a Memorandum of Understanding with the Minister of Mines. Maxtech Resources Private Limited has applied for four other Reconnaissance Permits. The RP covers an area of 212.75 km2 of which 4.945 km2 have been mapped by the Ministry of Mines at a scale of 1:1000. The writer recently visited drill sites in the East Girar area of the RP and had discussions with geologists and geophysicists who were in charge of the exploration program. A demonstration as to the method of field sample preparation of the drill core was also given. An auriferous banded iron formation (BIF) striking NE-SW and dipping to the north has been traced by mapping, geophysics (IP and magnetic) and surface sampling over a strike length of approximately 3.5 kilometers. A total of 11 diamond drill holes have been completed along 1.5 kilometers of the BIF. Gold-bearing sulphide, mainly pyrite (5-20%), seen in the core of drill hole GBH-21, occurs as narrow massive parallel bands and disseminations. Gold values range between 0.30 and 1.69 grams/tonne from surface samples and between 0.30 and 12.43 grams/tonne from diamond drill core. All of the exploration to date has been carried out by the Ministry of Mines and arrangements have been made to acquire all of the classified data that has been, and is currently being, compiled by the Ministry. The Company plans to continue drilling and evaluating the banded iron formation for its gold content. On Behalf of the Board of Directors, "Thomas R. Tough" Thomas R. Tough, P.Eng. President. This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information. The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this News Release. | |
You can view the Next News Releases item: Wed Apr 7, 2010, MAXTECH VENTURES INC. INDIAN SUBSIDIARY GRANTED A GOLD AND PLATINUM RECONNAISSANCE PERMIT IN LALITPUR DISTRICT, UTTAR PRADESH, INDIA You can view the Previous News Releases item: Tue Oct 27, 2009, Maxtech Ventures Enters Into An Option Agreement To Acquire Concessions In Guinea, West Africa You can return to the main News Releases page, or press the Back button on your browser. |
