Vancouver, Canada – June 9, 2020 – Maxtech Ventures (“Maxtech” or the “Company“) (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) provides news on their drilling and field exploration activities at the Company’s Panama Lake gold property, located in Red Lake.
The drill started turning on May 15, and the fourth and final hole of Maxtech’s 2,000-meter diamond drilling program was completed on June 3. This is the first phase of the Company’s exploration in the area. Holes 3 and 4 were drilled north of Panama Lake. The drill setup was located approximately 500 meters along strike from Benton Resources’ 2019 drill hole gold intersections (please see the Company’s news release dated May 12, 2020). The holes were targeted to intersect both limbs of an interpreted fold, with a likely surface expression immediately northwest of Panama Lake. The purpose of the holes was to investigate if the interpreted fold could have acted as a structural trap for the interpreted gold corridor seen up-strike. Maxtech’s experienced geological field team covered significant portions of the property accessible by truck, foot, boat and helicopter, with a focus on confirming interpreted structures based upon the available geophysical data, as well as geologically mapping the property to better contextualize the data collected from drilling. The on-site geological team comprising of 5 geologists maintained a safe work environment. Any prospective gold vectors discovered in the core will be used in conjunction with the increased property-wide geological understanding to follow up on any mineralized intervals intersected in the drilling and to generate future drill targets.
Maxtech completed the first phase of the initial drill campaign and the Company will release results on a timely basis. Maxtech is currently evaluating the next stage of exploration activities on the project based upon the results of this combined field and drilling program. The Panama Lake gold project comprises of an 11,700 hectare land package that is approximately 88.5 sq. km.
Peter Wilson, CEO, comments, “I want to thank the entire team here at Maxtech, one of the most professional and organized teams I have worked with. The knowledge gained from this program can only enhance our expectations of success on the next leg of the program.”
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.maxtech-ventures.com
Email to [email protected]
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