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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (74366)	1/22/2011 3:25:44 PM
From: LoneClone	Read Replies (1) \| Respond to of 193039

Montezuma Mining Company inks maiden JORC resource at Yanneri Ridge, to commence Scoping Study Thursday, January 20, 2011 by Proactive Investors proactiveinvestors.com.au Montezuma Mining Company (ASX: MZM) has inked an initial JORC Indicated and Inferred manganese resource at Yanneri Ridge of 64.7 Million Tonnes at 11.2% Manganese. Snowden prepared the resource estimate. The resource calculation covered only one of the six deposits discovered to date providing upside on the size of the resource for Montezuma. Tellingly, the results of preliminary metallurgical test work, as reported previously, indicate that Montezuma could have a beneficiated manganese product with a grade in excess of 35% Mn with acceptable levels of Fe, SiO2, Al2O3 and P2O5. On receipt of pending metallurgical analyses, a Scoping Study will commence. The grade continuity and drilling density are adequate to support an Indicated status for the Resource, however, the Inferred designation has been applied due to the preliminary nature of this beneficiation data. Importantly, results from the more detailed metallurgical test-work currently underway on the recently acquired PQ3 diamond core samples may support the Mineral Resource being upgraded to Indicated status without further drilling. This result is in addition to the other deposits discovered in the area and confirms Butcherbird as a new manganese province, which supports Montezuma’s confidence in its commercial potential.