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ELEMENT 25 LIMITED — Regulatory Filings 2016
Dec 20, 2016
64810_rns_2016-12-20_86133bbf-4386-4466-b8a2-cf0fd9ad0d3f.pdf
Regulatory Filings
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ABOUT MONTEZUMA MINING
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21 DECEMBER 2016
ACQUISITION OF DATABASE ENABLES FAST TRACKING OF NICKEL-GOLD-LITHIUM TARGET GENERATION AT LAKE JOHNSTON
Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to announce that it has acquired an extensive exploration database for the Lake Johnston area from Hannans Ltd (“Hannans”) (ASX:HNR).
The database will enable Montezuma to fast track nickel-gold-lithium targeting at Lake Johnston, located west of Norseman in Western Australia.
The Lake Johnston database includes a comprehensive compilation of data relating to both historical exploration as well as more recent programmes completed over Montezuma’s Lake Johnston Project which adjoins tenure held by Poseidon Nickel Ltd (ASX:POS).
Listed in 2006, Montezuma Mining Company Ltd (ASX: MZM) is a diversified explorer primarily focused on gold and manganese. The Company’s primary objective is to achieve returns for shareholders through selected strategic acquisitions and targeted exploration.
Montezuma has 100% interests in the Yamarna Gold Project in the Yamarna Greenstone Belt, the Holleton Gold Project in the Wheat Belt region and the Butcherbird Manganese/Copper Project in the Murchison region, all located in Western Australia.
MARKET DATA
ASX code: MZM Share price: $0.12 Shares on issue: 83,464,350 Market capitalisation: $10.0M Cash (at 30 September): ~$5.2M Listed Investments: ~$4.5M
BOARD AND MANAGEMENT
Chairman Seamus Cornelius Executive Director Justin Brown Non-Executive Director John Ribbons Exploration Manager Dave O’Neill
The database includes geochemical, geophysical and drilling data which will allow Montezuma to accelerate target definition activies at Lake Johnston, where the Company is targeting economic accumulations of nickel, gold and lithium.
In consideration for the sale and purchase of the database, Montezuma has granted Hannans a 15% interest in Montezuma’s Lake Johnston Project and any tenements applied for or acquired within an agreed area of interest at Lake Johnston for the next two years.
Hannans’ 15% interest will be free carried to a decision to mine, at which point Hannans may elect to contribute or revert to a 1% net smelter royalty.
FOR MORE INFORMATION…
Justin Brown
Executive Director
Phone: +61 8 6315 1400
Email: [email protected]
Company information, ASX announcements, investor presentations, corporate videos and other investor material on the Company’s projects can be viewed at http://www.montezuma.com.au.
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 1 projects can be viewed at www.montezuma.com.au
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Figure 1: Lake Johnston Project tenement location plan.[1,2,3 ]
The information in this report that relates to Exploration Results, Mineral Resources and Mineral Reserves is based on information compiled by Mr Justin Brown who is a member of the Australasian Institute of Mining and Metallurgy. At the time that the Exploration Results, Mineral Resources and Mineral Reserves were compiled, Mr Brown was an employee of Montezuma Mining Company Ltd. Mr Brown is a geologist 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 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Brown consents to the inclusion of this information in the form and context in which it appears in this reportPlease note with regard to exploration targets, the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.
1 http://www.hannansreward.com/reports/196-101102-Lake-Johnston-Update.pdf
2 http://poseidon-nickel.com.au/lake-johnston/lake-johnston-facts-figures/
Ground Floor, 31 Ventnor Street, WEST PERTH WA 6005
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