Montezuma Mining Company (ASX:MZM) will be back drilling at its Yamarna Project in Western Australia by months end after a recent discovery that returned values up to 19.1 g/t gold.
Ore grade intersections were discovered over 400 metres of strike at the Jatz target corridor from drilling that was just completed.
Encouragingly, drilling tested only a very small part of what appears to be a target corridor of 5 kilometres in strike length and up to 2 kilometres in width, indicating significant potential for further high grade gold discoveries.
While a closer spaced, multi hole reverse circulation program to test the northern and southern extensions of the mineralisation at Jatz is a priority, Montezuma Mining executive director Justin Brown will put to work part of the company's cash reserves of $5.7 million to test the broader regional potential with a broad spaced aircore drilling of up to 15,000 metres.
Multiple regional coincident magnetic and geochemical targets have been identified for geochemical aircore drill testing.
Meanwhile heritage clearances are in place to allow drilling to recommence before month end.
So Montezuma will leverage the now proven potential of the Jatz target corridor with the newly identified regional targets going forward.
Clearly, with so little of the corridor not drilled to date, it is not surprising Montezuma wants to get rigs turning to unearth the Yamarna potential as soon as possible.
With that, will emerge a pick-up in newsflow.
The Yamarna Belt is historically underexplored but the success of Gold Road Resources (ASX:GOR) with a 5.1 million ounce resource is evidence of the potential of Yarmarna project to host significant basement gold mineralisation.
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