Holleton Gold

Holleton Gold


  • Project contains multiple >100ppb soil anomalies providing a pipeline of priority targets.
  • Priority targets include the underexplored “Brahma” gold prospect with a 2.5km long >50 ppb Au in soil anomaly.
  • Brahma was tested with shallow aircore drilling which confirmed a strong coincident basement gold anomaly.
  • Only three deeper holes > 50m over a small part of the anomaly have been drilled. All three holes intersected broad mineralised intervals with grades up to 7.6 g/t Au.
  • Best results include1: GRDD001: 73m @ 0.3 g/t Au incl: 4m @ 1.6 g/t Au and; 1m @ 7.6 g/t Au GRDD002: 32m @ 0.3 g/t Au GRDD004: 21m @ 0.4 g/t Au incl. 3m @ 2.1 g/t Au

Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to announce that it has added the 100% owned Holleton Gold Project to its gold portfolio. The Holleton exploration licence application E77/2334 covers approximately 115 km2 of the Holleton Greenstone Belt, location approximately 400km east of Perth.

Previous exploration by Independence Group NL included a broad regional surface geochemical programme that defined numerous gold anomalies across an area of poorly exposed greenstones comprised mostly of meta-basalts with minor schist, pegmatite and granite. Follow-up drilling across these anomalies was typically first-pass in nature with many intersections left open.

The best of the historic results is at the Brahma Prospect (“Brahma”) where a >2.5km long, >50ppb Au in soil anomaly (see Figure 1) was defined and subsequently followed up with shallow aircore drilling which confirmed a strong basement anomaly. Three diamond drillholes in a confined area of the anomaly represent the only holes drilled to deeper than 50m. The best intersections at Brahma include 73m @ 0.3 g/t Au (including 4m @ 1.6 g/t Au and 1m @ 7.6 g/t Au) however all three diamond holes returned broad mineralised intervals (Figure 2).

Numerous other intersections greater than 100ppb Au remain open along the length of the soil anomaly and Montezuma plans to re-commence exploration at Holleton upon the granting of E77/2334.

Figure 1: Soil anomalies generated by Independence Group NL exploration between 2008 and 20101.
Figure 2: Detailed view of the Independence Group NL generated Brahma soil geochemical anomaly and selected drill results from systematic geochemcial aircore drilling and reconnaisance RC and DD drilling1.
Figure 3: Cross section through the Brahma soil/aircore anomaly showing broad widths of gold mineralisation with associated calc-silicate alteration which may be indicative of a potentially large gold
Hole IDEasting
(MGA 94 Z51)
Northing
(MGA 94 Z51)
Nominal RL
(m)
Dip
(0)
Azimuth
(mag 0)
Total Depth
(m)
Depth From
(m)
Depth To
(m)
Intercept Width
(m)
Au
(g/t)
Brahma Prospect
GRDD0016849496452866370-60185105.61487730.3
Incl.

171811.8
And485241.6
And777817.6
GRDD0026851556452997372-601761563062320.3
GRDD0046851526452820370-7035713885106210.4
Incl.909332.1
GRAC0916849506452846371-60180301426120.4
Incl.141621.4
GRAC0926849506452851371-6018033152490.1
And313211.5
GRAC0936849506452861371-60180281227150.7
Incl.

181912.3
And252614.3
GRAC098

6849496452913372-6018010010100.2
GRAC1026849496452957373-60180100880.2
GRAC1046849506452979373-6018010010100.1
GRAC3326855496453037387-6000028242840.8
GRAC0646861576453384383-6018044132070.7
Incl.131631.5
GRAC0626861566453346384-60180401840220.1
Incl.262711.1
Barnevelder Prospect
GRAC1766909496451721430-6018043384351.4
GRAC1756909486451680430-60180381935160.2
GRAC3496910506451844426-6018044404440.4
GRAC1846893566451189436-6018068626750.5
Incl.626311.8
Cochin Prospect
GRAC1876900486452771410-6018061535630.1
GRAC2006895476452688407-6000044303990.1
GRAC2156921476452580433-60000521248360.1
Jersey Giant Prospect
GRAC11164480146448014409-6018032293230.3
Table 1: Significant intersections greater than 0.1 g/t with up to 2m internal waste. All intersections are downhole widths.