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Montezuma Mining
AUSTRALIA MZM.AX 0,25 AU$ 8,70%
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Further Basement Gold Results Extend JATZ Strike to over 1.5km

Publié le 27 octobre 2015

08f8fbf2-ffa5-461e-bea6-ed3361714de3.pdf

ABOUT MONTEZUMA MINING

Listed in 2006, Montezuma Mining Company Ltd (ASX: MZM) is a diversified explorer primarily focused on manganese, copper and gold. The Company's primary objective is to achieve returns for shareholders through selected strategic acquisitions and targeted exploration.


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

MARKET DATA

ASX code: MZM

Share price: $0.29

Shares on issue: 70,464,350

Market capitalisation: $20.4M Cash (30 September 2015): $6.22M


BOARD AND MANAGEMENT

Chairman Seamus Cornelius Executive Director Justin Brown Non-Executive Director John Ribbons


Company information, ASX announcements investor presentations, corporate videos and other investor material on the Company's projects can be viewed at www.montezuma.com.au


1



27 OCTOBER 2015


Further Basement Gold Results Extend Jatz Strike to Over 1.5Km

Further bedrock intercepts from shallow first pass geochemical drilling at Jatz include 15m @ 0.4 g/t Au with a bottom of hole assay of 1m @ 1.47 g/t Au in fresh Archean greenstones.

Mineralised corridor in excess of 1.5km in strike at Jatz

confirmed with multiple basement gold intercepts.

Second highly anomalous kilometre scale trend defined at Captains with both basement and overburden hosted gold.

Twelve holes have now returned basement hosted gold values

greater than 0.1 g/t, many from 4m composite samples.

Approximately 60% of assays now received. Remaining samples from additional target areas in laboratory with results pending.

Expanded work programme to be expedited to follow up the

highly encouraging results.


Montezuma Mining Company Ltd ('Montezuma' or 'Company') is pleased to announce that assays received from the recently completed drilling programme at the Company's 100% owned Yamarna Project have returned further significant basement hosted gold results with a best intersection of 15m @ 0.4 g/t Au in interpreted Archaean greenstone.

Results continue to confirm strong widespread regional anomalism over

1.5 strike kilometres in multiple sampling horizons in basement, the recent and Permian cover and at the Permian/Archaean interface.

The geochemical aircore programme was designed to test for basement (Archaean) hosted primary gold mineralisation beneath multiple regional scale historic gold in soil anomalies1.

Given the reconnaissance nature of the programme, the Company is of the view that these results are highly significant and are indicative of a potentially large gold system.

Assays remain pending for a significant number of holes over additional target areas.

Executive Director Justin Brown said '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'.


1http://www.montezuma.com.au/images/uploads/150729_Results_Confirm_Yamarna_Gold_Targets.pdf


Ground Floor, 31 Ventnor Street, WEST PERTH WA 6005



Figure 1: Jatz gold corridor delineated by multiple basement gold intersections. All intersections are downhole widths


Figure 2: Regional collar location plan showing widespread gold anomalism in two major corridors at Jatz and Captains. Yellow dot indicates assays received, black indicates results are pending.


Ground Floor, 31 Ventnor Street, WEST PERTH WA 6005 2

A total of 202 holes were completed for 7,525 metres. Samples were collected in four metre composites downhole except at notable geological boundaries, where sampling was constrained to the different units with particular attention given to separating transported cover, interface zones, palaeo-surfaces and underlying basement. A total of 2,280 samples were submitted for assay by Aqua Regia with an ICP-MS finish for gold and selected pathfinder elements including Au, Ag, As, Cu, Pb, Zn, Ni, Sb, Bi, W, Te and Mo. This release details results for the first 1431 samples from the programme, representing approximately 60% of the samples submitted for assay.


The Archean geology intersected in the drilling was varied and indicates lithological and structural complexity. The geology included multiple types of granite and mafic and meta-sedimentary rocks with quartz veining present in a number of the targeted areas. The overlying cover is variable in thickness, from approximately 12 metres in western areas to over 40m to the east. The cover comprises a combination of recent Aeolian dune material and various phases of alluvials and possible lacustrine members currently interpreted as Permian in age.


Samples returned to date indicate that the profile has four horizons that show significant gold anomalism (see Figure 3), with the surface anomaly present in the soils data reflected in the upper parts of the drilling, an interpreted paleo-surface within the cover sequences, a strong interface anomaly at the Archean/Permian contact and primary basement hosted mineralisation in three holes. The basement mineralisation intersected also showed a moderate to strong copper, bismuth, moybdenum and tellurium association, a common assemblage in meso-thermal gold deposits in the Yilgarn Province.


The strength and scale of the anomalism in these zones gives weight to the technical merit of the project and follow-up drilling will be expedited.



Hole ID

Easting (MGA 94 Z51)

Northing (MGA 94 Z51)

Nominal RL

(m)

Dip (0)

Azimuth (magnetic

0)

Total Depth (m)

Depth From (m)

Depth To (m)

Intercept Width (m)

Au (ppb)

Interpreted Horizon

YAAC001

596504

6888804

400

-60

090

31

4

11

7

87

Recent Cover

YAAC002

596521

6888803

400

-90

000

36

14

18

4

173

Palaeo - Surface

YAAC007

597000

6888800

400

-90

000

46

16

20

4

91

Palaeo - Surface

YAAC015

596449

6888802

410

-90

000

36

0

8

8

55

Recent Cover

YAAC015

and

8

12

4

57

Palaeo - Surface

YAAC015

and

28

32

4

52

Archaean/Permian

YAAC016

596401

6888790

410

-90

000

39

4

8

4

68

Recent Cover

YAAC016

and

16

20

4

2281

Palaeo - Surface

YAAC016

and

20

24

4

246

Palaeo - Surface

YAAC017

596351

6888795

410

-90

000

36

12

16

4

140

Palaeo - Surface

YAAC018

596303

6888798

410

-90

000

39

12

16

4

703

Palaeo - Surface

YAAC018

and

20

24

4

168

Palaeo - Surface

YAAC018

and

24

28

4

338

Archaean/Permian

YAAC020

596199

6888785

410

-90

000

35

16

20

4

53

Palaeo - Surface

YAAC027

594100

6889153

415

-90

000

14

8

12

4

65

Palaeo - Surface

YAAC027

and

12

13

1

89

Archaean/Permian

YAAC027

and

13

14

1

2708*

Archaean

YAAC037

594096

6888924

415

-90

000

45

44

45

1

136

Archaean

YAAC043

594305

6888754

415

-90

000

33

28

32

4

170

Archaean

YAAC046

594302

6889002

415

-90

000

30

28

29

1

83

Archaean

YAAC051

594298

6889202

415

-90

000

18

0

4

4

66

Recent Cover

YAAC053

594295

6889250

415

-90

000

13

0

4

4

59

Recent Cover

YAAC062

593804

6889252

415

-90

000

28

21

22

1

66

Archaean/Permian


YAAC062

24

28

4

74

Archaean

YAAC068

593398

6889475

415

-90

000

19

18

19

1

71

Archaean

YAAC072

593149

6889817

415

-90

000

48

24

28

4

68

Archaean

YAAC072

44

48

4

189

Archaean

YAAC074

592948

6889804

415

-90

000

51

24

28

4

183

Archaean

YAAC079

593702

6890195

415

-90

000

61

12

20

8

57

Archaean/Permian

YAAC082

593596

6890200

415

-90

000

46

12

22

10

78

Archaean

YAAC082

34

38

4

80

Archaean

YAAC083

593550

6890201

388

-90

000

46

16

24

8

87

Archaean

YAAC084

593447

6890204

415

-90

000

55

40

55

15

396

Archaean

YAAC084

Including

54

55

1

1472

Archaean

YAAC085

593397

6890201

415

-90

000

54

40

50

10

67

Archaean

YAAC087

593251

6890192

415

-90

000

30

15

16

1

55

Archaean/Permian

YAAC092

593504

6890607

415

-90

000

67

62

67

5

277

Archaean

YAAC093

593398

6890569

415

-90

000

61

8

18

12

274

Recent Cover

20

24

4

117

Archaean

40

50

10

56

Archaean

YAAC094

593346

6890553

415

-90

000

62

40

60

20

74

Archaean

YAAC095

593251

6890530

415

-90

000

68

46

50

4

573

Archaean

62

67

5

61

Archaean

YAAC097

594498

6889325

415

-90

000

21

4

8

4

60

Recent Cover

YAAC106

594805

6889599

415

-90

000

18

0

4

4

66

Recent Cover

YAAC116

595598

6889596

410

-90

000

22

8

12

4

89

Palaeo - Surface

YAAC117

595702

6889601

410

-90

000

21

8

12

4

92

Palaeo - Surface

YAAC118

595799

6889598

410

-90

000

26

8

12

4

66

Palaeo - Surface

YAAC121

596110

6889601

410

-90

000

26

25

26

1

318

Archaean

YAAC122

596201

6889593

410

-90

000

26

20

24

4

115

Palaeo - Surface

YAAC124

596402

6889604

410

-90

000

38

37

38

1

212

Archaean

YAAC132

596952

6889608

410

-90

000

45

44

45

1

55

Archaean

YAAC133

597052

6889605

410

-90

000

39

8

12

4

81

Palaeo - Surface

YAAC137

596302

6889205

410

-90

000

36

35

36

1

50

Archaean

YAAC138

596401

6889206

410

-90

000

28

0

4

4

84

Recent Cover



Table 1: Significant gold assays >50ppb from recently completed aircore drilling at the Yamarna Project. All intersections are quoted as downhole widths. (Note - * indicates this is a Fire Assay Repeat following an over range result initially)

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