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14 JANUARY 2016
SECOND TRANCHE OF ASSAYS EXTENDS STRIKE AT JATZ AEROMAGNETIC SURVEY GENERATES MULTIPLE NEW TARGETS➤ Second tranche of assays from maiden RC drilling at Jatz yields basement hosted ore grade gold 400m north of discovery hole (Figure 1).
➤ Results augment recently released RC drilling results which returned
basement hosted gold values up to 19.1 g/t1.
➤ Results to date confirm the Jatz structural corridor as a high priority target zone for immediate follow up work.
➤ Assays released to date relate to the first 16 drillholes, with results for
the remaining 21 holes pending.Montezuma Mining Company Ltd ("Montezuma" or "Company") is pleased to announce complete assay results for the first 16 RC drillholes drilled at the Company's 100% owned Yamarna Project which have returned multiple ore grade intercepts including high grades up to 19.1 g/t Au. The remaining 21 holes of the 37 hole programme remain pending.
The results are from two reconnaissance drill traverses across a regional scale soil and aircore geochemical anomaly at the Jatz Prospect. The two traverses represent the first ever RC drilling completed within the Jatz gold corridor which extends over a strike length of approximately 5 km.
The gold occurs in zones of altered greenstones with variable silica, carbonate, pyrite, sericite alteration with quartz veining. The mineralisation has all the hallmarks of a mesothermal shear hosted gold system with potential for significant scale.
The Company has also completed a close spaced aeromagnetic survey at the Yamarna Project which has been instrumental in highlighting a number of additional structural targets with potential to host large scale gold deposits. These target areas will be further explored as part of the activity pipeline planned for 2016.
ABOUT MONTEZUMA MININGListed 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 DATAASX code: MZM
Share price: $0.24
Shares on issue: 70,464,350
Market capitalisation: $16.9M Cash (30 September 2015): $6.22M
Chairman Seamus Cornelius Executive Director Justin Brown NonaExecutive Director John Ribbons Exploration Manager Brad Drabsch
Executive Director Justin Brown said "To intersect ore grades in both maiden reconnaissance drill traverses at Jatz has exceeded all expectations. Whilst still early days, the fact that every phase of work to date has yielded further success bodes well for the future of the Yamarna Project. The Company looks forward to accelerating the work programmes at Yamarna throughout 2016. "
1http://www.montezumamining.com.au/images/uploads/151202_Yamarna_RC_Drilling_a_High_Grade_Gold_Confirmed.pdf
Ground Floor, 31 Ventnor Street, WEST PERTH WA 6005
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
Figure 1: Collar locations over aeromagnetics. Assays from RC drilling are for the first 16 holes of a 37 hole programme.
Figure 2: Multiple new targets identified by recently flown close spaced aeromagnetics. Targets shown over 1vD RTP data.
Hole ID | Easting (MGA 94 Z51) | Northing (MGA 94 Z51) | Nominal RL (m) | Dip (0) | Az. (mag 0) | Total Depth (m) | Depth From (m) | Depth To (m) | Intercept Width (m) | Au (g/t) |
Previously reported aircore results at the Jatz Prospect | ||||||||||
YAAC027 | 594100 | 6889153 | 411 | a90 | 000 | 14 | 13 | 14 | 1 | 2.7 |
YAAC084 | 593447 | 6890204 | 398 | a90 | 000 | 55 | 40 | 55 | 15 | 0.4 |
New RC assay results | ||||||||||
YARC001 | 593496 | 6890206 | 398 | a60 | 270 | 138 | 46 | 56 | 10 | 0.9* |
Including | 52 | 54 | 2 | 3.5* | ||||||
64 | 71 | 7 | 5.4* | |||||||
Including | 65 | 67 | 2 | 17.5* | ||||||
YARC002 | 593532 | 6890201 | 398 | a60 | 270 | 132 | 119 | 123 | 4 | 1.9* |
Including | 120 | 122 | 2 | 3.2* | ||||||
YARC003 | 593404 | 6890204 | 397 | a60 | 090 | 120 | 46 | 47 | 1 | 0.2 |
51 | 52 | 1 | 0.1 | |||||||
79 | 81 | 2 | 0.2 | |||||||
YARC004 | 593457 | 6890205 | 398 | a60 | 270 | 90 | 42 | 47 | 5 | 0.2 |
YARC005 | 593421 | 6890213 | 397 | a60 | 270 | 96 | 45 | 47 | 2 | 0.3 |
YARC006 | 593387 | 6890207 | 397 | a60 | 270 | 132 | 70 | 71 | 1 | 0.2 |
95 | 96 | 1 | 0.3 | |||||||
122 | 123 | 1 | 0.2 | |||||||
YARC007 | 594107 | 594107 | 411 | a60 | 180 | 72 | No Significant Assays | |||
YARC008 | 594110 | 594110 | 411 | a60 | 180 | 78 | No Significant Assays | |||
YARC009 | 594107 | 594107 | 411 | a60 | 000 | 60 | No Significant Assays | |||
YARC010 | 594110 | 594110 | 412 | a60 | 000 | 78 | No Significant Assays | |||
YARC011 | 593265 | 6890530 | 396 | a60 | 250 | 150 | 59 | 65 | 6 | 0.1 |
74 | 75 | 1 | 0.1 | |||||||
103 | 104 | 1 | 0.3 | |||||||
136 | 138 | 2 | 0.2 | |||||||
YARC012 | 593306 | 6890539 | 396 | a60 | 250 | 120 | 77 | 79 | 2 | 0.1 |
YARC013 | 593344 | 6890553 | 395 | a60 | 250 | 126 | 73 | 74 | 1 | 0.1 |
107 | 111 | 4 | 0.3 | |||||||
Including | 110 | 111 | 1 | 1.1 | ||||||
YARC014 | 593376 | 6890567 | 395 | a60 | 250 | 120 | 58 | 66 | 8 | 0.4 |
Including | 58 | 60 | 2 | 1.1 | ||||||
71 | 72 | 1 | 0.1 | |||||||
YARC015 | 593414 | 6890581 | 395 | a60 | 250 | 120 | 45 | 46 | 1 | 0.1 |
YARC016 | 593456 | 6890590 | 395 | a60 | 250 | 192 | 80 | 84 | 4 | 1.2 |
Including | 81 | 83 | 2 | 1.8 | ||||||
110 | 112 | 2 | 0.1 | |||||||
126 | 133 | 7 | 0.3 | |||||||
156 | 165 | 9 | 0.3 | |||||||
YARC017 | 593495 | 6890604 | 396 | a60 | 250 | 215 | Assays Pending | |||
YARC018 | 593530 | 6890617 | 397 | a60 | 250 | 120 | Assays Pending | |||
YARC019 | 593557 | 6890657 | 398 | a60 | 250 | 168 | Assays Pending | |||
YARC020 | 593605 | 6890639 | 397 | a60 | 270 | 210 | Assays Pending | |||
YARC021 | 593588 | 6890200 | 399 | a60 | 270 | 201 | Assays Pending | |||
YARC022 | 593203 | 6889794 | 399 | a60 | 270 | 120 | Assays Pending | |||
YARC023 | 593137 | 6889820 | 398 | a60 | 270 | 126 | Assays Pending | |||
YARC024 | 594113 | 6889163 | 412 | a60 | 270 | 60 | Assays Pending | |||
YARC025 | 594109 | 6888976 | 414 | a60 | 180 | 138 | Assays Pending |
Hole ID | Easting (MGA 94 Z51) | Northing (MGA 94 Z51) | Nominal RL (m) | Dip (0) | Az. (mag 0) | Total Depth (m) | Depth From (m) | Depth To (m) | Intercept Width (m) | Au (g/t) |
YARC026 | 594106 | 6888937 | 416 | a60 | 180 | 78 | Assays Pending | |||
YARC027 | 594094 | 6888935 | 416 | a60 | 000 | 54 | Assays Pending | |||
YARC028 | 594308 | 6888771 | 421 | a60 | 270 | 120 | Assays Pending | |||
YARC029 | 594311 | 6888743 | 419 | a60 | 270 | 126 | Assays Pending | |||
YARC030 | 596094 | 6889606 | 411 | a60 | 270 | 120 | Assays Pending | |||
YARC031 | 596164 | 6889599 | 410 | a60 | 270 | 120 | Assays Pending | |||
YARC032 | 596408 | 6889602 | 408 | a60 | 270 | 120 | Assays Pending | |||
YARC033 | 596452 | 6889603 | 408 | a60 | 270 | 120 | Assays Pending | |||
YARC034 | 596291 | 6888801 | 420 | a60 | 270 | 120 | Assays Pending | |||
YARC035 | 596351.4 | 6888800 | 420 | a60 | 270 | 120 | Assays Pending | |||
YARC036 | 596898 | 6888011 | 425 | a60 | 270 | 120 | Assays Pending | |||
YARC037 | 596948 | 6888010 | 425 | a60 | 270 | 120 | Assays Pending |
Table 1: Significant gold assays >0.1 g/t (max. 2m internal dilution) from recently completed RC drilling at the Yamarna Project. All intersections are quoted as downhole widths. Assays have now been received for the first 16 holes of a 37 hole programme. Assays completed by Aqua Regia digest except where * denotes fire assays.
Montezuma Mining Company Ltd. issued this content on 2016-01-14 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-14 01:58:17 UTC
Original Document: http://www.montezumamining.com.au/images/uploads/160114_Yamarna_Project_Exploration_Update.pdf