Maxtech Plans Drill Mobilization to St Anthony Gold Property
Wednesday, February 17, 2021 9:20 AM
Topic: Company Update,Financing
Closed On $726,000 First Tranche Drill Financing
VANCOUVER, BC / ACCESSWIRE / February 17, 2021 / Maxtech Ventures Inc. (“Maxtech” or the “Company”) (CSE:MVT)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce the mobilization of Full Force Diamond Drilling Ltd. to the St. Anthony Gold Property (the “Project”) during the week of February 22, 2021. Mobilization of staff is currently underway with setup of the core shack and drillholes being spotted. The Company’s joint venture partner and operator recently installed a bridge and upgraded access into the project enabling vehicle access available year-round.
As announced on February 11, 2021. Maxtech closed on a first tranche financing of $726,000 and expects a second closing in the near future.
The Phase 1 drill program will total 5,000 m and focus on the former producing St. Anthony Mine twinning shallow drill holes for due diligence plus extending the gold bearing zone(s) to the north and south while in-filling between historical drill holes. The Phase 2 drilling program will test the Dawson White deposit plus the Buckshaw, Couture Lake and Lucky Bones showings as well as follow-up on Phase 1 in-fill drill results.
Dan Hill, CEO of Full Force Drilling Stated, “Full Force Drilling is excited about returning to the St Anthony mine, it’s a great property especially with the historically reported grades at current gold prices.”
Maxtech’s CEO, Peter Wilson, stated: ” We are very excited to get the drilling started at the St Anthony Mine and, at the same time begin surface preparation and sampling on the second phase drill plan. Full Force has a great team with direct drilling experience at the St Anthony mine. There is no better team to work on St Anthony than the ones that know the property best. We look forward to repeating and enhancing the success of the past drill programs as we move towards creating a significant and compliant gold and silver resource”.
About Full Force Drilling:
Full Force Diamond drilling was established in 2004. They have fully equipped shops in Peachland B.C and Smithers B.C to support drilling and exploration across North America. Full Force has a fleet of custom A5 and Hydracore drills to suit any job requirements. The drill crews and management are well versed in all types of drilling. With successful programs including directional drilling, wedging, ice drilling, remote helicopter jobs and underground drilling. Full Force has held a DECK certification and is currently COR certified.
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) and approximately 16,000 oz of silver 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, P. Geo., is a “qualified person” as defined in National Instrument 43-101. Mr. Tims has reviewed the technical information and data included in this press release and approved of its contents.
To ensure a working environment that protects the health and safety of the staff and contractors, Maxtech is operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.
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
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