Montezuma Mining: Montezuma Mining Company calculates cobalt exploration target

Montezuma Mining Company (ASX:MZM) has further confirmed the potential for high grade cobalt from its ongoing historical data review at the Pinnacles Project located in Western Australia. Historical data has been used to estimate an Exploration Target of 13 to 14 million tonnes grading between 0.075% and 0.085% cobalt and between 0.75% and 0.8% nickel. Consultants have now been engaged to undertake a JORC compliant mineral resource estimate. This estimate will form the basis of commercialisation studies to determine the best pathway forward to generate shareholder value from the project. The data highlights multiple zones of shallow cobalt mineralisation over 15 kilometres of strike with potential for extensions with further drilling. Pinnacles data review The ongoing historical data review has confirmed the potential for high grade cobalt associated with manganese-nickel oxide mineralisation at its 100% owned Pinnacles Project. Results show a flat lying near surface cobalt zone including: - 16 metres at 0.27% cobalt, >1% nickel, 0.58% manganese from 18 metres; - 8 metres at 0.29% cobalt, 0.73% nickel, 2.09% manganese from 10 metres including 2 metres at 0.8% cobalt, >1% nickel, 4.6% manganese; and - 30 metres at 0.16% cobalt, >1.0 % nickel, 0.86 manganese from 10 metres. The review has also confirmed previous rock chip assays grading up to 1.30% cobalt. Background Montezuma holds a number of multi-commodity exploration and mining tenements in Western Australia and France. Its portfolio includes: - Yamarna Gold Project, Western Australia; - Holleton Gold Project, Western Australia; - Butcherbird Manganese Project, Western Australia; - Butcherbird Copper Project, Western Australia; - Lake Johnston Lithium Project, Western Australia; - Pinnacles Cobalt Project, Western Australia; - Green Dam Project, Western Australia; - Mt Padbury Project, Western Australia; and - Bonneval Gold Project, France. The 100% owned Pinnacles Project is located 75 kilometres from Kalgoorlie, Western Australia. The new cobalt exploration work extends Montezuma's technology metal thrust targeting the manganese, lithium and cobalt markets. Most key battery technologies use lithium with manganese and/or cobalt, the target commodities for the company's Butcherbird, Lake Johnston and Pinnacles Projects.