December 10

MAXTECH BEGINS DRILL PROGRAM PLAN AT PANAMA LAKE Exploring Red Lake Mining District for Gold

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Vancouver, British Columbia (December 10, 2019):  Maxtech Ventures Inc. (“Maxtech” or the “Company” (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) Maxtech is currently in full swing planning  a winter drilling program for early 2020 on the Panama Lake property in the  Red Lake Gold Mining District in Ontario.

Maxtech’s Panama Lake Gold property on trend with Great Bear’s successful Dixie Project hosts a number of historically documented gold occurrences, soil geochemical anomalies and geophysical features indicative of mesothermal gold systems, features and targets that for the most part were never followed up by previous companies. Noteworthy, is Great Bear Resources  exploration activity outside the main Red Lake district which has led to excellent results.

James Rogers, HBSc, Maxtech’s Senior VP – Exploration, a geologist with 30+ years of gold exploration experience in the Red Lake camp, recently completed a brief field campaign to locate some of the historically documented features in preparation for the wintertime drilling campaign and summertime exploration fieldwork to follow. The targets to be tested are comprised of those where existing geophysical data has already indicated potential structural traps, and where soil geochemical gold anomalies were historically documented but never drilled.  Between 8 and 10 holes are forecasted for a total of 3,500 meters, depending upon what is encountered as drilling progresses.

James Rogers, Maxtech’s Senior Vice President for Exploration adds:  “I’m excited by the Panama Gold Project and its potential for discovery! Putting together the most recent work completed on the property by Goldcorp, Noranda and Benton including high quality geological, geochemical and geophysical mapping, has laid the foundation for a successful drilling campaign. I am currently talking to experienced drill contractors and geologists that will comprise the team on the ground. The Panama Lake property hosts features indicative of deep-rooted plumbing and shows the structural folding, faulting and rock type contrast necessary to host orogenic gold deposits, not unlike that of the famous Red Lake trend.  Our property hosts some excellent targets that we look forward to drilling!”

“We are fortunate to have a great team which will be led by our senior VP, James Rogers, ready to begin the next phase of exploration and discovery at Panama Lake. We have all the necessary research and results showing clear gold indications similar to other successful mining exploration ventures in the Red Lake district. It is exciting for our shareholders that Maxtech has secured a Red Lake Gold property. The geological team continues to investigate other mining assets to add to the Panama Property and help create a strong portfolio of high valued mineral properties for the Company. ” Stated Peter Wilson, CEO.

About Maxtech Ventures Inc.

Maxtech Ventures Inc., a Canadian-based diversified industries corporation, is focused on identifying and advancing high-value mineral properties.

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.

 

 


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