Maxtech has signed and closed a land package acquisition in James Bay Quebec. This property represents a strategic land holding in an emerging gold district in the same greenstone belt as the recent Azimut Exploration Elmer property discovery and is east and directly adjacent to the AZM land package with a potential 12 kilometer strike length. Additionally, the property is directly north and adjacent to the Dios Exploration Kali Project in the prolific mining district of James Bay, Quebec.
On January 14, 2020 Azimut announced its drill results of 3.15 g/t au over 102.0 M including 10.1 g/t au over 20.5 M at its Patwon Prospect, Elmer Gold Property in the James Bay Region of Quebec. Maxtech will review historic data in the area and report on any findings. Azimut also announced a $6 million financing on February 19, 2020.
In the Company releases of January and February 2020: Peter Wilson, Maxtech’s CEO and Director, said
“Given the exciting results from both the Dios Exploration’s Kali Project and Azimut’s Elmer Property and our proximity to these promising gold zones, we will complete due diligence and sign off on a definitive agreement as soon as possible. Adding a new gold exploration project in Quebec this winter in this exciting new prospective area will give us added momentum in building our gold exploration portfolio.”
“This acquisition places Maxtech solidly within the James Bay regional gold discovery play, adjacent the phenomenal Elmer discovery hole announced by Azimut. We feel Maxtech is positioning ourselves for exploration success and currently reviewing historical data in the area, looking to acquire additional large cell blocks.”