Holleton (MZM 100%)

The 100% owned Holleton Project comprises exploration licence E77/2334 which covers approximately 115 km2 of the Holleton Greenstone Belt, located 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 40m. 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 execution of an access agreement with the land holders.

Holleton Gold Project Regional Soil Anomalies
Figure 1: Soil anomalies generated by Independence Group NL exploration between 2008 and 20101.

Holleton Gold Project Brahma Prospect

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 system.

Holleton Gold Project Significant Intercepts

Table 1: Significant intersections greater than 0.1 g/t with up to 2m internal waste. All intersections are downhole widths[1].