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Montezuma Mining Company Ltd.
Summary
| Project: | Pinnacles | |
|---|---|---|
| Deposit: | Pinnacles | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel-Manganese | |
| Date: | 5/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-5-2017: Montezuma Mining Company Ltd. announces a Resource Estimation report for its Pinnacles deposit at the Pinnacles project. Exploration target range for project. Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to advise that an | |
| Resources: | (Exploration target range): 13-14 Mt @ at 0.075-0.085% Co and 0.75-0.8% Ni. | |
| CP/QP: | [Overall Report]: David O'Neill (Internal) | |
| ABSTRACT: | Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to advise that an ongoing historic data review has further confirmed the potential for high grade cobalt associated with manganese-nickel oxide mineralisation at the Pinnacles Project. The Project was extensively drilled for lateritic nickel mineralisation until 2004. 632 aircore, 23 RC and 3 DD holes were completed for 33,228m on a nominal spacing of approximately 200 by 80 metres. The historic drilling has been digitised and polygonal wireframes created with 0.03% cobalt cut-off. Volumes were calculated and an assumed specific gravity value of 1.9 was used to estimate an Exploration Target of 13 to 14 Mt @ at 0.075% to 0.085% Co and 0.75 and 0.8% Ni. Independent mining consultants Entech have been engaged to undertake a JORC compliant mineral resource estimate wich will be reported to the market on completion. Note: the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource. This data set will now be used to generate a JORC compliant mineral resource estimate which will form the basis of commercialisation studies to determine the best pathway forward to generate shareholder value from the project. | |
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