Montezuma Mining Company (ASX: MZM) 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 company's Butcher Bird Project contains the historic Butcher Bird mine, a high grade near surface copper mine which targeted supergene copper mineralisation. The mine has recorded production of 8.46t of copper at an average grade of 22.6%.
Montezuma Mining receives grades of up to 45.7% from rock sampling at Butcher Bird
Shares in Montezuma Mining (ASX: MZM) reacted strongly after the company announced that 22 additional rock chip sampling on Butcher Bird in Western Australia have returned further very strong manganese results over priority target areas.
During the morning trade, the share price in the Perth-based resources company jumped 17.1%, or 3.5c, to 24c.
A total of 72 surface rock chip samples have now been collected by Montezuma over three site visits.
Results of up to 45.7% Mn were received, with only 2.5% Fe from 22 rock chip samples over a strike of approximately 8km.
Eight priority target areas have been identified for drill testing once tenement is granted, expected in February 2010.
Managing Director Justin Brown said the results continued to provide a very strong case for the project to be a priority project for drill testing of key target areas.
Bindi Bindi West represents a buried manganese rich paleochannel that is exposed by present day gully erosion. The paleochannel stikes roughly NE, and directly along strike from Bindi Bindi Hill.
This paleochannel represents one of the tributaries of the Bindi Bindi Hill paleochannel, and provides an exploration target comprising the western margins of the present day Bindi Bindi Flats. BBG19 to 21 are from the paleochannel mineralised zone, and BBG22 is from the margins, confirming the contact is an unconformity.
The Butcher Bird licence application straddles the Great North Highway approximately 120km south of Newman. The land is open with sparse vegetative cover, giving good access to all areas of the licence.
The Butcher Bird copper prospect with historical grades of up to 20% Cu with gold and silver credits.
Based on the large regional extent of the surface mineralisation the available outcrop and remote sensing data, Butcher Bird continues to demonstrate excellent potential to host commercial quantities of manganese. Once the tenements have been granted and relevant clearances received, drilling will commence as soon as possible.
