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Maxy Gold Corp. (MXD-TSXV) is dedicated to the exploration and development of precious metals and base metal properties in China and Peru.
The company's current activities in China are focused on the Midu regional joint venture project in Yunnan Province (south western China) and on the Huangnan joint venture with Western Mining Group in Qinghai province (western China). Western Mining Group is one of China's largest mining companies headquartered in Qinghai province.
In China, Maxy holds a 75% interest in the Midu Joint Venture, covering a total of 189 km2. Gold mineralization zones have been identified and are being systemically explored. The main target is the Muluozuo zone, where extensive gold mineralization has been identified through tunnelling and trenches. Several high gold grade samples in colluvial sediments have also been assayed. Our partner, Yunnan Mining Geology Group (25%) is participating proportionally to exploration expenditures.
Maxy is earning a 50% interest in the Huangnan joint venture which includes 2 properties covering 203 km2. Exploration programs are on going.
In Peru, Maxy has a 100% interest in 15 gold and base metal mineral exploration properties totaling 139,070 hectares in the central and southern regions. Maxy has recently staked an additional 40,000 hectares surrounding existing claims, which gives a total of close to 180,000 hectares.
The company's properties in Peru are located in well-defined central and southern mineralization belts. The portfolio includes 1 in Apurimac, 3 in Moguegua, 7 in Ayacucho, 2 in Cuzco, 1 in Arequipa and 1 in Lima Province. 10 of those properties are high sulphidation gold and silver target, 1 is a low sulphidation gold and silver target and 4 are base metal targets.
6 of the properties have had sufficient exploration work on them to be near drill stage. Those are the Chocos (which contains the Candel target), Condoroma, Sumaq, Corina, Picha, and Canta properties. Maxy has started a full field evaluation of those 6 properties to identify priority drilling targets for early 2009. The other properties are at grass root stage and will also be assessed in the upcoming 2009 program.
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