June 15

Maxtech Announces Completion of the First Drill Hole At St Anthony Mine Second Hole Already Underway

0  comments

VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / Maxtech Ventures Inc. (“Maxtech” or the “Company“) (CSE:MVT)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce completion of its first diamond drill hole, SA21-15, as part of its Phase One diamond drilling program on the St Anthony mine property located in the Kenora-Patricia Mining District of.  Hole SA21-15 is the first of two planned twinned holes in a 15-hole drill program targeting a total of 5,000 m.

Twinning drill holes is a traditional technique used for QA-QC verification of historical drilling to provide data necessary for completing a National Instrument 43-101 (“NI 43-101”) compliant mineral resource estimate.  Hole SA21-15 twinned a 2011 drill hole with the second twinned hole setting up adjacent to a 2010 drill hole.  The remaining drill holes in the work program will be a combination of infill and peripheral drilling to expand the mineralization along strike and down dip.

Drill core samples will be sent to ALS Global for gold (Au-AA23) and multi-element (ME-MS61) analysis plus spectral mineralogy data will be collected from selected samples through the mineralized envelope to assist in vectoring to additional gold bearing structures.

Peter Wilson, CEO stated, “the 2009/ 2010 drilling also showed a non – compliant 1.2 million ounce probability within only a 300m by 300m area over the St. Anthony Mine. The Phase 1 drill program will focus on infill and expansion drilling to prove up more tonnage and looking to increase up to 3 million ounces by opening up the current deposit in other directions and by properly assaying for nugget effect gold. An infill-drilling program is being utilized to confirm the extent of mineralization between previous drill holes and hopefully expand the St. Anthony mineralization zones. (source: Technical Report on the St. Anthony and Best/King Bay Properties, prepared by Graeme Evans BSc, PGeo, June 16, 2015).”

 

The Company also announced that is has issued 5,000,000 options under its Stock Option Plan to officers, directors and consultants.  Each option is exercisable at $0.10 for a period of two years.

 

About The St. Anthony Gold Project:

The St. Anthony Gold Mine is located in the Kenora-Patricia Mining District of Ontario and encompasses four historical mining operations including the largest past-producing mine in the area, the St. Anthony. The mine produced 63,310 ounces of gold from 332,720 tons for an average grade of 5.95 grams per tonne (or 0.191 ounces per ton) up until World War II when gold production was halted. (source: Technical Report on the St. Anthony and Best/King Bay Properties, prepared by Graeme Evans BSc, PGeo, June 16, 2015). The property consists of 233 contiguous claims totaling 4,224 hectares (42.24 sq. km). In addition to the historical underground workings over 20 gold (-silver) occurrences have been documented, some hosting visible gold, many of which have seen little if any exploration work for several decades. Previous workers in the area include Aubet, Can Con and Falconbridge, companies that carried out work focused on the bulk tonnage potential of a mineralized area hosted within a quartz-feldspar porphyry intrusive located within the property. The St. Anthony Gold Project is located 85 km east of the town of Sioux Lookout, or 13 km south of the smaller town of Savant Lake.

 

Andrew Tims obtained his B.Sc. in Geology from Carleton University in Ottawa, Ontario, and is a Registered Professional Geologist in Ontario and Manitoba and a Qualified Person under NI 43-101. He has reviewed and approved the technical contents of this news release.

 

About Maxtech Ventures Inc.

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

 

For additional information see the Company’s web site at

http://www.maxtechventures.com

Email to info@maxtechventures.com


Tags


You may also like

Maxtech Announces Additional High Grade Assay Results from St Anthony Gold Mine Drill Program

Maxtech Announces Additional High Grade Assay Results from St Anthony Gold Mine Drill Program

First Drill Hole at St Anthony Gold Mine Reports Near Surface 11.9 grams per tonne over 8.4 metres

First Drill Hole at St Anthony Gold Mine Reports Near Surface 11.9 grams per tonne over 8.4 metres

Subscribe to our newsletter now!

>