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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (12722)1/10/2008 9:31:41 AM
From: LoneClone  Read Replies (1) of 194034
 
Montezuma reports encouraging Padbury manganese results

Montezuma Mining Company Ltd today announced "encouraging" results from reconnaissance rock chip sampling of two zones of manganese mineralisation within the Mt Padbury Project – MZM earning 90pc from Independence Group NL – located 30km west of Montezuma's Peak Hill goldmine.

High grades of manganese up to 55.8pc were returned from rock chip samples.

Directors say the manganese occurs as secondary replacement/enrichment within volcanic metasediments of the Padbury Group and the tenor of the results from sampling to date gives a clear indication the area has potential for significant tonnages of high-grade mineralisation.

The samples were collected to the south of the (excised) Mt Padbury manganese mine, where previous workers successfully extracted manganese ore.

The region has a history of manganese production, with mining occurring from several centres from the 1940s through to the late 1960s.

There has been little activity on manganese in the region since that period; however, previous workers recorded nine exploration targets within the Mt Padbury Project, in addition to the known mineralisation.

Montezuma believes that with the prevailing strong manganese prices and renewed work using modern exploration techniques, the area has good potential to yield economic mineralisation. – RWE
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