Bonneval is in a prospective region including multiple historical gold mining centres and the project is prospective for gold, antimony and associated commodities.
Over 940,000 ounces of gold has been historically produced from open cut and underground mines within the Bonneval Project area.
The area has seen little exploration since the closure of the last gold mine in the early 2000’s.
Potential upside remains around the known deposits and more regionally.
Exploration field programs are expected to begin during the first year, and may initially include airborne geophysics.
Outside of Bonneval, Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia.
The company's primary focus is on its 100% owned Yamarna and Holleton gold projects.
Its portfolio includes:
- Yamarna Gold Project, Western Australia;
- Holleton Gold Project, Western Australia;
- Butcherbird Manganese Project, Western Australia;
- Butcherbird Copper Project, Western Australia;
- Green Dam Project, Western Australia; and
- Lake Johnston Project, Western Australia.
Montezuma recently acquired an extensive exploration database that will enable it to fast-track nickel-gold-lithium targeting at Lake Johnston located west of Norseman, Western Australia.
Yarmana assays pending
During December, Montezuma completed 20 reverse circulation holes at the Yamarna Gold Project located 20 kilometres along strike from the recently discovered 6.2 million ounce Gruyere gold deposit.
Several holes intersected broad zones of alteration associated with quartz veining and sulphides.
If gold bearing, these new zones will significantly add to the prospectivity of the Yamarna Project for larger tonnage style gold mineralisation.
Assays are pending and will be released to the market when available.