Impact: Mildly Positive
Maxtech Ventures announced high-grade results from an additional diamond drill hole from its Phase 1 (~5,000m) drilling program at its St. Anthony Au project (option for 100%) located in NW Ontario. We view these results somewhat positively since drilling continues to intersect multiple intervals of high-grade Au, albeit at narrower widths than those seen in SA21-15 – the first twinned drill hole (45.2 g/t Au over 0.48m within 11.9 g/t Au over 8.4m). In our view, the new assays demonstrate that the St. Anthony mine area features a large gold system; however, we are looking to see more mineable widths from future drill results. Given that mineralization is near surface, the consistent intersection of mineable widths of high-grade gold could potentially result in a compelling mineral resource estimate for St. Anthony.
