Issue link: http://resourceworld.uberflip.com/i/963504
50 www.resourceworld.com A P R I L / M A Y 2 0 1 8 NXGold gears up to explore Pilbara area gold prospect NXGOLD LTD. [NXN-TSXV] has acquired an 80% interest in the Mt. Roe Project located in the Pilbara region of Western Australia. The area has caught the inter- est of investors with the discovery of gold nuggets by Novo Resources. Christopher McFadden, CEO of NXGold, said, "The completion of the acquisition of the Mt. Roe gold project located in the heart of the Pilbara gold region is a sig- nificant milestone for the company and creates a balanced portfolio of geologically and geographically diverse high potential projects located in desirable locations. We are looking forward to commencing work on the Mt. Roe Project as well as advanc- ing our other projects in Canada." The 1,200-hectare Mt. Roe property covers two exploration blocks located approximately 30 km south of Karratha and the Port of Dampler and is situ- ated adjacent to tenements held by Novo Resources and Artemis Resources. Mt. Roe is known to feature gold-bearing conglom- erates that have been traced for over 5 km of strike length at the base of a basalt layer with the Mt. Roe claim boundaries. This gold mineralization remains open to the north, south and dipping beneath the Mt. Roe basalt. In addition, many gold nug- gets have been discovered at surface that have similar characteristics as the gold discovered on nearby projects by Novo Resources, Artemis Resources and De Grey Mining. The gold nuggets found on the Mt. Roe property are mostly flattened and coarse with rounded edges similar in size and shape to watermelon seeds. The Pilbara region has excellent infra- structure with major roads, railways, ports and power. To fund the upcoming exploration pro- gram at Mt. Roe and other projects, NXGold has appointed a syndicate of agents led by Red Cloud Klondike Strike Inc. to sell pri- vate placement units for gross proceeds of up to $5 million. Each unit is offered at $0.25 and will consist of one share and one warrant good to buy one share at $0.37 for two years from closing. Under certain cir- cumstances, the agent may elect to place up to an additional $2 million in units. NXGold has two other projects that are located in Canada. The company has an option to earn a 70% interest in the Kuulu gold project in Nunavut from Meliadine Gold Ltd. and an option to earn a 100% interest in the Chicobi Project in the Abitibi Greenstone Belt of Québec. The 60,000-hectare Chicobi Project is about 40 km northeast of Amos and covers 70 km of prospective strike length along the Chicobi Deformation Zone, a major, yet under-explored structural break in the Abitibi Greenstone Belt. NXGold plans to compile geological, geochemical and geophysical datasets to identify drill targets. n MINING Maxtech Ventures eyeing African manganese opportunities Recognizing various applications for manganese in the agricultural, industrial and technology markets, particularly the battery sector, the business strategy of Maxtech Ventures Inc. [MVT-CSE; MTEHF-OTC; M1N-FSE] is to become a worldwide high-grade manganese low-cost supplier. The company has applied to form a new division, Maxtech Mining Zambia, in Lusaka, Zambia. A GeoQuest report, commissioned by Maxtech, indicated pros- pects with manganese warranting further exploration. The goal of this division is to supply product to Indian chemical pro- cessing plants recently opened in Zambia, and ship manganese to India where Maxtech has strategic alliances. Maxtech Mining Zambia will work with GeoQuest in its mandate to identify, joint venture and acquire assets with high-grade man- ganese mineralization. Its geologists have already pinpointed areas of interest after recent Central Province site visits. "India is developing as a major mar- ket for high-grade battery materials. The entire manufacturing infrastructure and supply chain for what will be an enormous industry must be built in the next five years. Cairn ERA predicts that by 2021, more than 10 gigawatt-hours of Li-ion manufacturing capacity will be in opera- tion in India," said Sam Jaffee, Managing Director, Cairn Energy Research Advisors. The company has also received the final Juina claims geological review, the key ele- ment to the Guia process of the Brazilian Departamento Nacional de Produção Mineral. The mean level obtained of assays were 50% manganese metal. The Guia approval will allow the Juina claims to move into production. Maxtech will next focus on the Lavra mining license and the potential reserve measure of the entire Brasnorte Project. Peter Wilson, CEO of Maxtech, said, "We are looking forward to going into production in Juina and expanding our claims in the region. The additional capi- tal received will support our activities in Brazil." More recently, Maxtech signed a let- ter of interest to form a joint venture to explore 40,000 hectares with Andorra Participacoes e Empredimentos Ltda. in Para state, Brazil. The company is immedi- ately organizing a site visit with Andorra and MLB Mining Brazil, Maxtech's in- country manager which has led numerous successful manganese exploration teams in the region. Discussions regarding the joint venture are contingent upon successful due diligence, licensing verifications and sample assays. "Maxtech's strategy for the first quarter is to joint venture with companies in Brazil who have already located high-grade man- ganese areas of interest. Now that the rainy season is over, our operations will ramp up quickly and research and technical site visits will increase," noted Wilson. n