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Montezuma Mining Company Ltd hot on heels of gold at Yamarna

Recent drilling has returned multiple ore grade intercepts including high grades of up to 19.1 g/t gold. The next work phase has commenced which will cover 7000 metres of geochemical aircore drilling.

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Montezuma Mining Company Ltd (ASX:MZM) will begin its next phase of drilling at the 100% owned Yamarna gold project, east of Laverton in central Western Australia.

Recent drilling has returned multiple ore grade intercepts including high grades of up to 19.1 g/t gold.

The 7,000 metre air core drilling will test a shallow geochemical anomaly within the Jatz strike corridor.

The anomaly has tested over 0.5 g/t gold and the current phase of drilling will test the strike extent of this large scale anomaly.

The drilling to date at Jatz has tested only a very small part of what is now interpreted as a target corridor 5x2 kilometres in size.


Background

Montezuma Mining has 100% interests in the Yamarna Gold Project in the Yamarna Geenstone Belt, Western Australia and the Butcherbird Manganese/Copper Project in the Murchison region of Western Australia.

The principal target zone at Yamarna is located along strike from the 6.2 million ounce gold discovery at Gruyere by Gold Road Resources Ltd (ASX:GOR).

Initially, Montezuma defined a widespread region of gold anomalism covering 22 square kilometres and containing two parallel anomalous corridors.

Subsequent air core drilling in mid 2015 returned widespread high tenor gold anomalism.

The target zones are Jatz, Cruskit and Captains with Jatz being the current focus of the company.


Analysis

Due to the gold anomaly being shallow and wide spread, less expensive exploration techniques such as air core drilling can be used.

The company is operating in a region known to host multi-million ounce gold deposits, such as the 6.2 million ounce gold discovery at Gruyere.

Montezuma is therefore leveraged to exploration success over the coming months.

The company's share register is tightly held with the top 20 owning circa 70%.

 

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