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Montezuma Mining has further gold success at Yamarna

The widespread strong gold anomalism found over several square kilometres further supports the premise that a large gold system could be at work in an under-explored region.

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Montezuma Mining Company (ASX:MZM) has found further gold from shallow first pass drilling at the Yamarna Project in WA including 15 metres at 0.4 g/t gold with a bottom of hole assay of 1 metres at 1.47g/t gold.

The results represent 60% of the samples submitted for assay indicate a mineralised regional corridor over 1.5 kilometres in strike in multiple basement at the Jatz prospect.

A second highly anomalous kilometre scale trend defined at Captains prospect had both basement and overburden hosted gold.

The aircore program was designed to test for basement hosted primary gold mineralisation beneath multiple regional scale historic gold in soil anomalies.

Twelve holes have now returned basement hosted gold values greater than 0.1g/t gold, many from 4 metre composite samples.

Montezuma will launch an expanded work programme to be expedited given the highly encouraging results.

Today's results complement the first batch of assays from the maiden aircore drilling programme that returned results up to 2.7g/t gold plus pathfinder elements in basement rocks.

The widespread strong gold anomalism found over several square kilometres further supports the premise that a large gold system is at work and further drilling will look to unlock the system.

The Yamarna project is geostructurally positioned and with proximity to Gold Road Resources' (ASX:GOR) 5.5 million ounce Gruyere gold discovery along strike.

Justin Brown, executive director, commented:

"The latest batch of results have confirmed at least two significant gold trends from very limited work. The results have far exceeded expectations and we look to be on the edge of a potentially significant gold system here."


Analysis

These are more than highly encouraging results that intersected gold over a widespread mineralised corridor from a first pass program. While early days in exploration, the widespread mineralisation hints at a large gold system. 

The cashed up Montezuma ($6.2 million at end of September 2015) will likely up the ante expanding the work program and expediting it to follow up the highly encouraging results.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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