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Montezuma Mining Company Ltd.
Summary
| Project: | Pinnacles | |
|---|---|---|
| Deposit: | Pinnacles | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel-Copper-Platinum-Gold-Arsenic-Bismuth | |
| Date: | 8/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-8-2017: Montezuma Mining Company Ltd. announces an Exploration/Drilling Update report for its Pinnacles deposit at the Pinnacles project. Drilling results incl. 14m @ 0.15% Co, 0.53% Ni, 13ppb Pt+Pd from 34m. Montezuma Mining Company Ltd (“Montezuma” o | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David O'Neill (Internal) | |
| ABSTRACT: | Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to advise that assays have been received from a reconnaissance drilling programme completed at the Company’s 100% owned Pinnacles Cobalt-Nickel Project to investigate a number of multi-commodity targets. As previously announced, eight reverse circulation drill holes were completed for 1,335m to test multiple target types as follows: Cobalt: Drillhole PNRC0003. Confirmation drilling of high grade cobalt identified in historic drilling1 and supply of sample material for metallurgical test work. Nickel sulphide: Drillholes PNRC0001, 2 and 8. Two late time bedrock conductors identified in a recent EM survey, one of which is located beneath a historic sulphide intercept of 2m @2.3% Ni2 . Gold: Drillholes PNRC0004-7. Historic work failed to analyse for gold in almost all drillholes however strong arsenic anomalism is clearly defined over significant strike lengths. Current programme tests for gold association within the arsenic enriched rocks. Drillhole PNRC0003, which was designed to validate the historical cobalt values intersected within the main laterite zone, has confirmed high grades over broad widths with a best intercept of 14m @ 0.15% Co, and a maximum cobalt value of 0.45% Co recorded over 1m from 35m downhole. This intersection closely matches the thickness and grade of intersections in nearby historical drill holes. In addition to confirming historic work, the samples obtained from this drillhole will be the focus of first pass metallurgical testing to establish whether the laterite ores at the Pinnacles Project are amendable to low capital cost processing pathways. If the early test work is successful, the Company will commence investigations into the best way to commercialise the large areas of near surface cobalt rich laterite material within the project area. | |
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