Maxtech Announces Completion of the First Drill Hole At St Anthony Mine and 5,000 m program Underway
Maxtech Announces Completion of the First Drill Hole At St Anthony Mine and 5,000 m program Underway
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 North Western Ontario. 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 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 [email protected]
Contact: Peter Wilson CEO - 604-484-0355
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.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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.