Maxtech Ventures Inc. said March 27 that it signed a letter of interest to form a joint venture with Andorra Participacoes e Emprendimentos Ltda. to develop a 40,000-hectare property prospective for manganese in Para, Brazil.

The company will undertake due diligence on the property, including a site visit and a full report that MLB Mining will conduct.

The signing of a formal deal is contingent on the completion of a satisfactory due diligence within 120 days ending no later than June 23.