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Market: ASX
Sector: Gold Mining
Epic: MZM
News: Latest news
Web Site: Montezuma Mining
Other Articles: 23-12-200908-12-200902-12-2009

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Montezuma Mining

Montezuma Mining

Montezuma has in excess of 3,000 km2 of exploration tenure in Western Australia, with multi-commodity prospectivity including gold, copper, nickel and uranium targets.

The portfolio centrepiece is the Peak Hill gold mine which has produced in excess of 900,000 oz of gold and has existing resources in excess of 200,000 oz of gold.

 

Wednesday, November 25, 2009

Montezuma Mining recommences drilling at Windsor Discovery Zone

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Montezuma Mining (ASX: MZM) has started drilling again in the Naracoota Volcanics at the Windsor Discovery Zone adjacent to the Durack Resource in Western Australia.

The recently discovered mineralised zone is associated with quartzsulphide (pyrite and chalcopyrite) veins, stringers and stockworks accompanied by silica alteration and quartz veining within intercalated mafics and meta sediments of the Naracoota Formation.

The recent discovery hole intersected 33m @ 1.89 g/t gold, including 3m @ 3.52 g/t and 7m @ 5.32 g/t.

Shares in the company increased 1c, or 4.2%, to 25c, following the announcement.

Montezuma managing director Justin Brown said the stratigraphy predominantly trends NW-SE, dipping steeply to the northeast at 75° - 90°.

"The mineralisation also appears to be influenced by a series of northeast striking cross faults," Mr Brown said.

"The new discovery at Windsor is associated with a RAB anomaly in excess of 500m in strike length, open in both directions."

The current programme will comprise a first phase of 11 holes for 1,160m with a second phase already approved for drilling if visual indicators in the drill spoil are favourable.

"The new discovery at Windsor, while in the early stages, offers significant encouragement with respect to increasing the size and further potential of the Durack Project," Mr Brown said.

"The geological information obtained from the first round of drilling has also led to a reinterpretation of historic RAB data which has resulted in the identification of a number of additional targets."

Montezuma expects drilling to take approximately 1 week and may be extended if visual geological indications are favourable.

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