Maxtech Signs Option to Acquire Utah Vanadium Claims Long History of Past Production Strengthens Strategic Partnership With GeoXplor
Date: Oct 3, 2018
VANCOUVER, British Columbia, October 2, 2018 /PRNewswire/ —
Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) (“Maxtech” or the “Company”) announces it has signed a letter of intent for an option to purchase a 100% interest in vanadium mineral claims located in Emery County, Utah.
Mining for vanadium and uranium in the Temple Mountain district began in 1914, sixteen years after its initial discovery in 1898. Artisan mining activities were present between the years of 1922 and 1978. The optioned area is situated just north of the Utah State Park of Goblin Valley. Temple Mountain is the most prominent and highest topographical feature of the San Rafael Swell.
The Temple Mountain 43-101 report states that there are 52 contiguous lode mining claims staked covering a total of 1,074 acres or approximately 435 hectares. The entire claim group has a maximum north-south extension of about 3.2 km and a maximum east-west extension of approximately 1.8 km. Historical assay results from exploration holes show maximum values of uranium (U3O8) of up to 1.85% and vanadium (V2O5) oxide of up to 4.97%, indicating pockets or restricted lenses of high-grade ore and uranium grades of up to 4% were also reported. (U.S. Geological Survey Bulletin 1192 by C.C. Hawley, D.G. Wyant & D.B. Brooks, 1965)
