Proactive Investors USA & Canada
George Matlock
Vancouver-based Maxim Resources signs a second six-month extension to its reconnaissance concession authorisation for the Hassi Berkane block in Morocco.
Vancouver-based Maxim Resources (CVE:MXM) has signed a second six-month extension to its reconnaissance concession authorisation for the Hassi Berkane block in Morocco.
The extension signed with both the National Office of Hydrocarbons and Mines and the Ministry of Energy, Mines, Water and Environment of Morocco ensures works continue until July 15.
The original Reconnaissance Concession Authorisation was effective for 12 months from July 15, 2014. On July 15, 2015 the ONHYM and MEMWE granted Maxim an extension period for six months through January 15, 2016.
Maxim requested a second extension period and this was granted on January 15, 2016 and signed on February 18.
The further extension was requested by Maxim in order to complete the existing work commitment and to expand the analysis on the Reconnaissance Concession, Hassi Berkane. The work program remains unchanged.
A Reconnaissance Concession Authorisation is required in order to conduct exploration and review work in Morocco. The work includes geological, geochemical and geophysical surveys and a geotechnical review of existing data. This work is expected to be completed within next 6 months at which point Maxim will assess the results.
