Date: Oct 17, 2018
FinancialNewsMedia .com News Commentary
Vanadium has emerged as an essential metal in the current climate centered around the development of renewable energy as society continues to shift away from traditional fossil fuels. In May of this year, the US Department of Energy made a $30 Million funding commitment to long-term battery solutions through its Advanced Research Projects Agency-Energy (ARPA-E) office. Additionally more and more automobile manufacturers are incorporating vanadium into vehicles in order to reduce their weight and increase fuel efficiency as regulations continue to become more strict in the realm of fuel economy. The rising demand has been extremely beneficial to those in the mining business of vanadium. Additionally, the metal’s application to battery production is another factor influencing its current growth. Prices for vanadium are expected to continue to rise potentially as high as $21 per pound by 2020. Active in the mining industry today includes: Maxtech Ventures Inc. (cse:MVT) MTEHF, +13.91% Largo Resources Ltd LGORF, -0.46% (LGO), Glencore Plc (otcpk:GLNCY), Ferroglobe PLC GSM, +3.20% First Vanadium Corp. (otcqx:CCCCF).
Maxtech Ventures Inc. (cse:MVT) (otcpk:MTEHF) (frankfurt:M1N) BREAKING NEWS: Maxtech Ventures is pleased to announce that it has concluded detailed exploration plans on its two 100% owned vanadium mineral claims in the State of Bahia, Brazil.
The applications were submitted on behalf the Company and granted by the Departamento Nacional de Produç?o Mineral (DNPM) in Brazil on July 20th 2018. These claims are on strike with the producing Maracàs Menchen Vanadium Mine and the Campbell pit deposit being developed by Largo Resources, which is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder.
The development of the regional mineral research program to be carried out in the area in accordance with the mining authorities in Brazil and the DNPM processes. These works will be executed in accordance with environmental legislation at the state and federal levels as well. The research work will be carried out by a specialized technical geologist and the work will be developed in stages. Geological mapping throughout the area for the purpose to identify the geological formation where the mineralization of vanadium is probable with open mesh with varied steering profiles. Initially the exploration rows will be 200 by 200 meters and can be modified at the discretion of the field team.
“The Company has located and will be actively researching several other previously identified vanadium claims in Bahia during the period our geologists are in Bahia in the week. Maxtech will continue to build upon their vanadium footprint in Brazil,” stated Peter Wilson, CEO. Read this and more news for Maxtech at: http://www.financialnewsmedia.com/news-mvt/
