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ELEMENT 25 LIMITED Capital/Financing Update 2011

Jul 13, 2011

64810_rns_2011-07-13_a2403277-c90d-42ec-a21f-5584f49e9946.pdf

Capital/Financing Update

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ASX RELEASE

14 July 2011

BUTCHERBIRD MANGANESE DRILLING RESULTS

ASX CODE: MZM ISSUED SHARES: 48.95M 52 WEEK HIGH: $0.95 52 WEEK LOW: $0.26

CONTACT:

JUSTIN BROWN Managing Director +61 438 745 675

BOARD:

Seamus Cornelius: Chairman Justin Brown: MD John Ribbons: Non-Exec

KEY PROJECTS:

BUTCHERBIRD (100%) Manganese, Copper

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PEAK HILL (85-100%) Gold

DURACK (earning 85%) Gold, Copper

MT PADBURY (100% of gold) Gold, Manganese, Iron

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KEY SHARE POSITIONS:

AUVEX RESOURCES LTD 7,500,000 FPO Shares

BUXTON RESOURCES LTD 3,010,000 FPO Shares

LITHEX RESOURCES LTD 1,525,000 FPO Shares

==> picture [172 x 22] intentionally omitted <==

EXTERRA RESOURCES LTD 2,000,000 FPO Shares

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  • Exploration comprised 110 RC drill holes for a total of 3,233m.

  • Assays confirm further widespread manganese mineralisation at known deposits and in several new target areas.

  • Highlights include:

Prospect Hole ID From
(m)		 Interval
(m)		 Mn
(%)		 Including
Coodamudgi BBRC00003 9 17 12.81 2m @ 20.32
BBRC00004 10 15 12.24 4m @ 16.99
BBRC00007 11 2 19.98 1m @ 22.91
BBRC00010 32 4 18.29 1m @ 28.6
BBRC00012 20 14 13.83 3m @ 21.07
BBRC00015 5 18 11.55 2m @ 17.25
Mundiwindi BBRC00024 3 13 13.11 2m @ 16.17
BBRC00029 2 10 15.01 5m @ 16.88
BBRC00032 0 22 12.31 2m @ 18.26
BBRC00035 15 20 11.86 1m @ 17.28,
1m @ 17.42
BBRC00038 26 9 18.37 3m @ 28.14
Illgararie Hill BBRC00042 3 13 11.90 3m @ 15.94
BBRC00043 2 13 11.78 2m @ 15.52
Richie's Find BBRC00051 22 6 15.90 3m @ 18.58
BBRC00055 0 2 17.13 1m @ 19.5
5 14 12.07
BBRC00063 6 14 10.90 1m @ 22.29
BBRC00106 16 6 16.63 1m @ 23.84
Tangadie BBRC00076 11 10 10.46 3m @ 13.02
Illgararie
Ridge		 BBRC00098 17 4 18.31 1m @ 23.92

Montezuma Mining Company Ltd (“Montezuma”) is pleased to advise it has received assay results in relation to the recently completed RC drilling programme completed over a number of existing and new manganese targets at its 100% owned Butcherbird manganese Project.

The results continue to highlight the widespread manganese mineralisation within the Project area and importantly, have identified a number of zones with higher grades than that typically seen within the Project.

==> picture [172 x 21] intentionally omitted <==

The mineralisation intersected in the drilling was broadly coincident with the anomalies generated by the EM survey completed in late 2010 with significant new areas of mineralisation adding to the overall tonnage potential at Butcherbird and further confirming the area as a significant new manganese province. These results validate the XTEM survey as a valuable exploration tool for this style of supergene manganese mineralisation.

Mundiwindi is the stand out discovery from the programme, with preliminary interpretation of the results suggesting that it may yield a higher bulk grade material than Yanneri Ridge. Coodamudgi has also been confirmed as a significant zone of mineralisation and material from both of these discoveries will be submitted to the lab for first pass beneficiation studies as soon as possible.

Not all targets yielded significant manganese mineralisation. The anomalies in the nonoutcropping mineralised areas and Mungajerry are now interpreted as highlighting wet clays in drainage areas and offer a plausible explanation for these high EM results.

Followup drilling is planned around these results where the mineralisation is still open to provide sufficient coverage for resource calculations.

Investor Coverage

Recent investor relations, corporate videos and broker/media coverage on the Company’s projects can be viewed on the Company’s website at www.montezumamining.com.au.

About Montezuma Mining Company Ltd

Listed in 2006, Montezuma (ASX: MZM) is a diversified explorer primarily focused on manganese, copper and gold. Montezuma has a 100% interest in the Butcherbird Manganese/Copper Project and an 85-100% interest in the Peak Hill and Durack Gold Projects in the Murchison region of Western Australia.

More Information

Justin Brown

Managing Director

Phone: +61 (8) 6315 1400 Mobile: +61 438 745 675

The Information in this report that relates to exploration results is based on information compiled by Justin Brown, who is a member of the Australian Institute of Mining & Metallurgy. Mr Brown is a geologist who is a full time employee of Montezuma Mining Company Ltd. and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Justin Brown consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Prospect Hole_ID Northing
(MGA94)		 Easting
(MGA94)		 Depth
(m)		 From
(m)		 To
(m)		 Interval
(m)		 Mn
(%)		 Including Fe
(%)		 SiO2
(%)		 P
(%)
Coodamudgi BBRC00003 7298800 773100 36 9 26 17 12.81 [email protected] 13.54 41.14 0.062
BBRC00004 7298700 773100 36 10 25 15 12.24 [email protected] 11.01 43.78 0.071
BBRC00007 7298910 773100 36 11
18		 13
25		 2
8		 19.98
11.71		 1m @ 22.91
[email protected]		 12.21
11.89		 31.57
43.64		 0.055
0.145
BBRC00008 7299000 773100 42 29
34		 32
37		 4
3		 14.16
13.75		 1m @ 23.02
[email protected]		 10.69
13.19		 41.38
39.62		 0.096
0.170
BBRC00010 7299200 773500 42 14
17
29
32		 16
20
30
36		 2
3
1
4		 10.00
12.81
10.66
18.29		 [email protected] 9.9
7.83
13.38
10.15		 45.58
33.53
44.65
37.7		 0.059
0.079
0.092
0.128
BBRC00011 7299110 773500 36 19 32 14 9.69 [email protected] 11.84 45.87 0.158
BBRC00012 7299000 773500 36 20 34 14 13.83 [email protected] 13.34 35.73 0.148
BBRC00014 7298700 772700 30 0
8
12
15		 6
10
13
26		 6
2
1
11		 12.35
10.89
10.12
14.00		 [email protected] 10.19
12.66
11.66
13.36		 45.74
43.72
46.43
35.62		 0.106
0.153
0.153
0.202
BBRC00015 7298800 772700 30 0
5		 1
23		 1
18		 18.96
11.55		 [email protected] 7.65
11.81		 39.21
43.69		 0.057
0.122
BBRC00018 7298600 772700 24 9 14 5 11.06 14.85 40.76 0.040
BBRC00019 7298700 772300 30 3
9		 4
16		 1
7		 14.32
10.87		 13.05
13.38		 38.77
42.33		 0.035
0.120
BBRC00020 7298800 772300 30 20 24 4 11.43 12.2 43.25 0.106
BBRC00022 7298600 772300 30 4
8
16		 7
13
25		 3
5
5		 13.42
9.93
11.08		 1m @ 17.35 12.23
12.53
14.16		 40.35
45.59
38.54		 0.034
0.070
0.141
Mundiwindi BBRC00023 7298400 776900 24 12 16 4 11.47 10.97 41.08 0.122
BBRC00024 7298500 776900 24 0
3		 1
16		 1
13		 19.58
13.11		 [email protected] 8.86
12.38		 40.31
40.07		 0.087
0.152
Prospect Hole_ID Northing
(MGA94)		 Easting
(MGA94)		 Depth
(m)		 From
(m)		 To
(m)		 Interval
(m)		 Mn
(%)		 Including Fe
(%)		 SiO2
(%)		 P
(%)
BBRC00026 7298300 776900 24 13
19		 15
20		 2
1		 9.16
10.38		 11.33
12.23		 45.62
44.09		 0.242
0.118
BBRC00027 7298300 777300 24 0
12		 1
15		 1
3		 13.10
12.62		 9.72
12.21		 45.12
42.21		 0.061
0.122
BBRC00028 7298400 777300 18 0 6 6 10.53 10.66 40.71 0.100
BBRC00029 7298500 777300 24 0
2
13		 1
12
14		 1
10
1		 10.22
15.01
14.50		 5m @ 16.88 8.83
12.68
11.09		 50.51
34.68
38.26		 0.070
0.148
0.113
BBRC00030 7298600 777300 18 1 15 14 10.20 [email protected] 11.16 39.38 0.116
BBRC00031 7298500 777700 24 1
9
12		 5
10
17		 4
1
5		 12.47
15.27
10.59		 9.13
8.65
11.95		 39.86
40.94
43.61		 0.103
0.201
0.134
BBRC00032 7298600 777700 24 0 22 22 12.31 [email protected] 11.79 38.6 0.130
BBRC00033 7298700 777700 36 0
15
26		 1
24
33		 1
9
7		 21.69
10.85
15.88		 1m @ 17.09
[email protected]		 11.07
12.05
13.68		 31.93
40.39
35.06		 0.052
0.138
0.178
BBRC00034 7298800 777700 36 2
12
14		 6
13
33		 4
1
11		 15.98
10.33
10.63		 3m @ 18.02 10.49
14.32
11.9		 36.55
40.45
41.87		 0.030
0.105
0.131
BBRC00035 7298900 778100 42 6
15		 7
35		 1
20		 10.63
11.86		 [email protected] and [email protected] 13.19
11.42		 41.9
42.62		 0.035
0.134
BBRC00038 7298900 778500 42 26 35 9 18.37 [email protected] 12.5 28.64 0.148
Illgararie Hill BBRC00041 7303100 774400 18 1
4		 2
10		 1
6		 11.88
10.23		 13.97
12.2		 44.87
43.27		 0.061
0.129
BBRC00042 7302900 774400 18 3 16 13 11.90 [email protected] 13.87 41.05 0.185
BBRC00043 7302800 774400 18 2 15 13 11.78 [email protected] 15.58 39.18 0.154
BBRC00044 7302700 774400 24 11 12 1 11.22 10.03 44.7 0.065
BBRC00045 7303000 774400 24 2 11 9 11.60 [email protected] 14.59 40.43 0.145
Prospect Hole_ID Northing
(MGA94)		 Easting
(MGA94)		 Depth
(m)		 From
(m)		 To
(m)		 Interval
(m)		 Mn
(%)		 Including Fe
(%)		 SiO2
(%)		 P
(%)
Richie's Find BBRC00048 7297400 771700 36 20
22
24		 21
23
32		 1
1
8		 11.18
11.52
12.63		 [email protected] 13.15
11.62
11.45		 40.94
43
41.98		 0.166
0.175
0.111
BBRC00049 7297200 771700 24 5
9
18		 6
16
20		 1
7
2		 14.23
13.09
10.23		 1m @ 16.45 and 1m @ 16.25 10.64
11.92
11.18		 41.77
41.46
45.26		 0.026
0.110
0.170
BBRC00050 7297300 771800 30 4
8
12
15		 5
9
13
24		 1
1
1
9		 10.24
11.51
15.84
12.56		 [email protected] 15.1
11.55
14.22
11.35		 41.44
43.46
35.45
43.29		 0.100
0.140
0.127
0.117
BBRC00051 7297300 771600 30 7
11
22		 9
13
28		 2
2
6		 14.03
12.30
15.90		 [email protected] 12.59
12.63
15.7		 38.63
41.32
34.07		 0.039
0.118
0.141
BBRC00052 7297300 771400 30 12
15
20		 14
16
24		 2
1
4		 10.69
12.33
12.02		 [email protected] 12.53
9.34
10.7		 43.77
45.4
43.79		 0.094
0.096
0.106
BBRC00054 7297300 771200 24 10
13
20		 12
15
21		 2
2
1		 15.69
10.83
12.77		 1m @ 18.03 11.82
10.3
7.64		 40.03
47.33
46.63		 0.083
0.122
0.105
BBRC00055 7297300 771100 24 0
5		 2
18		 2
14		 17.13
12.07		 1m @ 19.5 9.61
11.69		 39.74
43.62		 0.055
0.128
BBRC00056 7297300 771000 24 7 18 11 11.15 [email protected] 12.21 43.96 0.114
BBRC00057 7297500 771000 30 18 28 10 11.58 [email protected] 12.67 43.35 0.120
BBRC00058 7297600 771000 36 27 29 2 11.60 13.07 42.41 0.092
BBRC00059 7297400 771000 30 18 23 5 12.60 [email protected] 11.54 43.25 0.113
BBRC00060 7297190 771000 24 4
6		 5
17		 1
11		 10.15
12.27		 [email protected] 7.87
11.85		 51.3
43.06		 0.070
0.132
BBRC00062 7297300 770900 24 11
14		 13
21		 2
7		 14.15
12.75		 [email protected] 9.73
11.45		 43.23
43.5		 0.083
0.089
Prospect Hole_ID Northing
(MGA94)		 Easting
(MGA94)		 Depth
(m)		 From
(m)		 To
(m)		 Interval
(m)		 Mn
(%)		 Including Fe
(%)		 SiO2
(%)		 P
(%)
BBRC00063 7297300 770800 24 6 20 14 10.90 [email protected] 12.75 43.9 0.117
BBRC00064 7297300 770700 24 3
10		 9
17		 6
7		 10.96
14.39		 [email protected] 10.37
10.98		 46.21
41.89		 0.100
0.102
BBRC00065 7297300 770600 48 2
11
17		 5
15
18		 3
4
1		 11.72
15.80
20.18		 3m @ 17.82 9.08
13.59
12.2		 48.36
37.22
33.65		 0.070
0.086
0.087
BBRC00066 7297200 770600 24 0
5
7
11
14		 2
6
8
12
15		 2
1
1
1
1		 9.99
17.48
15.60
14.33
16.27		 15.28
10.13
13.43
12.99
11.41		 43.89
39.136
37.74
39.98
38.12		 0.050
0.092
0.148
0.100
0.100
BBRC00067 7297100 770600 30 4
15
20
22		 7
17
21
24		 3
3
1
2		 10.05
11.34
10.15
11.53		 16.32
8.06
9.81
12.91		 36.37
48.21
47.49
40.98		 0.031
0.084
0.100
0.113
BBRC00068 7297300 770500 24 0
4
14		 2
8
16		 2
4
2		 14.24
10.72
13.13		 1m @ 17.79 5.93
9.87
11.31		 49.67
47.2
43.26		 0.055
0.072
0.105
BBRC00069 7297500 770600 30 19 27 9 12.60 [email protected] 11.08 43.23 0.072
BBRC00070 7297700 770600 24 8 13 5 9.29 12.4 45.44 0.102
BBRC00071 7297800 770600 24 11 15 4 10.92 11.63 45.08 0.106
BBRC00072 7297900 770600 36 22 23 1 12.03 6.79 48.75 0.048
BBRC00074 7297400 768100 30 14 22 8 9.72 [email protected] 13.5 44.03 0.124
Richie's Find BBRC000101 7298000 770200 24 13 17 4 10.59 12.47 43.61 0.133
BBRC000102 7297900 770200 24 7
13		 9
15		 2
2		 11.99
11.09		 1m @ 14.94 10.09
12.79		 44.72
43.08		 0.111
0.124
BBRC000104 7297600 770200 30 8 17 9 8.87 11.33 47.31 0.097
BBRC000105 7297500 770200 30 11 14 3 12.34 9.31 45.65 0.079
BBRC000106 7297400 770200 24 16 22 6 16.63 [email protected] 10.74 39.51 0.083
Prospect Hole_ID Northing
(MGA94)		 Easting
(MGA94)		 Depth
(m)		 From
(m)		 To
(m)		 Interval
(m)		 Mn
(%)		 Including Fe
(%)		 SiO2
(%)		 P
(%)
BBRC000108 7297200 770200 30 17 19 2 15.59 [email protected] 15.98 32.74 0.209
BBRC000110 7298000 769800 36 23 30 7 13.24 [email protected] 10.05 42.4 0.072
BBRC000112 7297900 769800 161 24
27		 26
28		 2
1		 13.34
13.45		 8.62
13.67		 45.58
39.88		 0.085
0.083
Tangadie BBRC00075 7297300 768100 24 15 16 1 14.43 11.59 39.86 0.070
BBRC00076 7297200 768100 30 11 21 10 10.46 [email protected] 11.62 45.7 0.092
BBRC00078 7297400 767300 24 4
15		 9
18		 5
3		 10.21
11.72		 10.84
10.52		 46.16
43.82		 0.114
0.237
BBRC00079 7297500 767300 30 19 20 1 12.23 9.35 44.94 0.140
Bindi Bindi Hill BBRC00087 7299400 763400 24 11 15 4 10.90 [email protected] 10.67 45.39 0.106
BBRC00088 7299500 763400 24 9
18		 10
19		 1
1		 13.55
10.48		 9.56
11.18		 43.89
46.37		 0.096
0.144
BBRC00089 7299600 763400 30 11
18		 15
19		 4
1		 10.24
12.03		 9.89
13.16		 47.39
42.51		 0.091
0.083
BBRC00090 7299300 763400 30 14 15 1 10.58 10.09 46.7 0.061
Cadgies Flats BBRC00091 7303700 769600 24 5
10		 8
13		 3
3		 11.16
13.08		 1m @ 14.65
[email protected]		 9.68
11.99		 46.84
42.45		 0.048
0.067
BBRC00092 7304600 769600 24 10 15 5 13.54 [email protected] 10.79 42.14 0.186
BBRC00093 7304300 768700 24 3
7
12
18		 5
8
13
22		 2
1
1
4		 9.68
10.18
10.45
11.85		 9.86
8.17
11.18
14.82		 48.06
48.44
45.54
40.74		 0.116
0.074
0.092
0.155
BBRC00094 7304200 768700 30 10 19 9 12.04 [email protected] 11.05 43.83 0.145
BBRC00095 7304700 769600 24 0
13		 2
14		 2
1		 20.54
10.05		 9.12
14.78		 33.46
43.5		 0.048
0.109
Illgararie Ridge BBRC00097 7304700 772600 24 4
10		 7
11		 3
1		 12.76
11.92		 13.65
11.73		 40.27
44.05		 0.202
0.144
BBRC00098 7304800 772600 24 9
17		 13
21		 4
4		 12.59
18.31		 1m @ 15.61
[email protected]		 6.03
11.37		 40.35
36.12		 0.089
0.204
Prospect Hole_ID Northing
(MGA94)		 Easting
(MGA94)		 Depth
(m)		 From
(m)		 To
(m)		 Interval
(m)		 Mn
(%)		 Including Fe
(%)		 SiO2
(%)		 P
(%)
BBRC00099 7304900 772600 30 12
19		 13
20		 1
1		 11.48
10.38		 8.5
14.98		 47.26
43.16		 0.048
0.092

Assay results from RC drilling at Butcherbird. All intervals are downhole widths. Zones of commercial interest were assayed on 1m intervals. Results have been composited according to grade and geology. Assays were completed by Nagrom Laboratries by XRF analysis.

==> picture [528 x 712] intentionally omitted <==

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