Montezuma announced that an RC Drilling Rig has commenced work at the Peak Hill Gold Project in the Murchison region of Western Australia. The initial phase of work at Peak Hill will comprise approximately 5,000 metres. The drilling will test extensions to known mineralised areas, follow up
Montezuma advised that the acquisition of additional tenure over the Naracoota Formation has increased the Company’s ground holding to approximately 220km2 in the Peak Hill are, Western Australia. The Naracoota Formation hosts the new high-grade copper discoveries at De Grussa by Sandfire Resources NL, and the along strike continuation of the projected prospective stratigraphic corridor within Montezuma’s tenure is considered prospective for analogous mineralisation. Montezuma reports the gold potential of this rock sequence is also significant, confirmed by existing known resources and further highlighted by Montezuma’s recently announced discovery of a new zone of gold mineralisation at the Durack Project.
Montezuma reported to have been granted an exploration licence covering approximately 111 sq km of tenure at Peak Hill. The additional ground covers significant areas of gold mineralisation potential as well as areas containing the Narracoota Formation rocks
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