MaxTech Ventures Inc (‘MaxTech”) is pleased to report that five drill pads have now been constructed on the Pat Claims and drilling is scheduled to commence in July. A contract has been signed with Phil’s Diamond Drilling Ltd. to complete five drill holes that are expected to average 150 metres in depth. The Pat Project is located 25 kilometres east of Horsefly, in the Cariboo Mining district of south-central British Columbia. MaxTech holds an option with Wildrose Resources Ltd. that entitles it to earn a 60% interest in the three Pat Claims by completing $870,000 in exploration expenses and making payments totaling $85,000 before November 2009. The three claims cover 1,745 hectares and are located approximately 50 kilometres southeast of Imperial Metals Corporation’s operating Mount Polley Mine.
The Pat Claims were staked in 2004 to cover a prominent aeromagnetic anomaly that is similar in size (about three kilometres by three kilometres), shape and intensity to the one which corresponds to that of the Mount Polley Mine. The Mount Polley deposit was originally discovered in 1964 as a follow up to the release of a survey which depicts both the Pat and Mount Polley anomalies. Unlike the Mount Polley anomaly which occupies a high point of land, the Pat anomaly is located in the Horsefly Valley without bedrock exposure. In 1990 Cominco Exploration Ltd. completed an induced polarization survey that covered the Pat aeromagnetic anomaly and outlined an extensive, and well expressed, induced polarization anomaly to the east and north of the magnetic anomaly. The induced polarization anomaly covers an area of two square kilometres and is open to the north and south. In 1991 nine percussion drill holes were completed within the induced polarization anomaly without significant results but no drilling was completed in the proximal magnetic anomaly. MaxTech’s consultants have concluded that a similar induced polarization anomaly without associated significant copper-gold mineralization exists to the east of the Mount Polley Mine deposit.
Both the Pat Claims and the Mount Polley Mine occur within the Quesnel Terrane, which also hosts the Afton and Similkameen copper-gold mines to the south and the Kemess gold-copper mine to the north. Other active projects in the area include the Woodjam gold-copper project, located 15 kilometres to the southwest and the Spanish Mountain gold project, located 40 kilometres to the northwest.
In 2006 MaxTech acquired six (6) additional claims which cover 2,655 hectares and are contiguous to the original three (3) Pat claims.
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