Maxtech Forms New Division In Zambia
Vancouver, British Columbia – February 20th 2018 – Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that it has begun the application process to form a new division of the company, Maxtech Zambia to be located in Lusaka, Zambia.
A GeoQuest research report commissioned by Maxtech shows manganese mineralization from initial testing and as part of their due diligence, a detailed field-based geological mapping of each targeted claim is being scheduled to identify the possible extent of the manganese mineralization in each area. This newly formed division will focus on supplying product to the Indian chemical processing plants recently opened in Zambia, as well shipping manganese directly to India where the Company has previously established strategic alliances.
Maxtech Zambia will work closely with partner GeoQuest in its mandate to identify, joint-venture and acquire assets with high-grade manganese mineralization. GeoQuest is led and managed by Julian D.Green BSc., MSc., D.I.C., CGeol., EURGeol, FGS, FSAIMM. Julian has worked as a Professional Exploration Geologist in Eastern Europe, Australia and particularly Central and Southern Africa for a variety of mining and exploration companies including Tesla, KGHM, Rio Tinto and Caledonia. Its geologists have already pinpointed areas of interest after recent Central Province site visits authorized by Maxtech.
“The battery industry’s key requirement for any input material is high purity materials that come from high grade deposits. India is developing as a major market for high-grade battery materials. The entire manufacturing infrastructure and supply chain for what will be an enormous industry must be built out in the next five years. Like China before it, India is embarking on a vast build-out of Li-ion battery manufacturing capacity. Cairn ERA predicts that by 2021, more than 10 GWh’s of Li-ion manufacturing capacity will be in operation in India. To feed this new manufacturing industry, there is a boom in activity in the processed chemicals industry in India. This industry will be fed by mines throughout the world, including the exploitation of new Lithium, Nickel and Manganese assets in Africa, South America and Australia,” commented Sam Jaffee, Managing Director, Cairn Energy Research Advisors.
Peter Wilson, CEO of Maxtech said, “The demand for high grade manganese is growing, opening out-of-country subsidiaries where we plan to initiate production in 2018 advances our strategy. With GeoQuest and Kiuso as partners, Maxtech Zambia will focus on supplying manganese to Indian partners as well as new Chinese relationships to meet their continued demand of manganese. ”
GeoQuest is a fully independent Geological (Geotechnical), Environmental, GIS and Hydrogeological Consultancy and Contract Services Group based in Southern / Central Africa. The company has offices in Zambia, The Democratic Republic of Congo and Zimbabwe but has also worked in Botswana, Gabon, Malawi, Mozambique, Namibia, Republic of Congo, Rwanda, Uganda and Tanzania.
About Cairn ERA
Cairn is a battery industry consulting and advisory firm and produces strategic market research, data and rigorous analysis on the battery supply chain, manufacturing incumbent and emerging battery technologies and end markets for batteries. All Cairn ERA partners have multiple years of experience working in the energy sector and have a strong and diverse network of contacts throughout the industry. And the Cairn ERA approach to research and modelling has been honed over decades of experience in providing first-rate deliverables to some of the world’s most successful and demanding companies.
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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.