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Thursday, July 9, 2015
Maxim Resources has a six-month extension on its reconnaissance concession in Morocco. The company signed an agreement with both the Moroccan state-run oil firm ONHYM and the Ministery of Energy, Mines, Water, and Environment giving it extra time on the Hassi Berkane Block.
The original Reconnaissance Concession Authorization was signed on June 12; the extension will give Maxim until January 15, 2016 to complete the work program previously agreed to with ONHYM, which is currently underway.
The extension was requested by Maxim in order to complete the existing work commitment and to expand the analysis using ARKeX gravity / aero-magnetic reinterpretation, attribute analysis of existing seismic data and model input to ARKeX WorldView 2 satellite imagery system.
A Reconnaissance Concession Authorization is required in order to conduct exploration and review work in Morocco. The work contemplated includes geological, geochemical and geophysical surveys and geotechnical review of already existing data. This work is expected to be completed within the next six months at which point Maxim will assess the results.
Andrew Male, CEO and president of Maxim stated, “Maxim is pleased to receive this extension and we look forward to completing the additional work being able to move forward with Stage 2 of our reconnaissance works on Hassi Berkane.”
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