Montezuma Mining: Montezuma Mining Company confirms lithium potential at Lake Johnston

Montezuma Mining Company (ASX:MZM) has confirmed the potential for lithium mineralisation at its Lake Johnston Project in Western Australia through recently completed target generation activities. During a detailed review of the information database that was recently purchased, a number of priority lithium targets were identified. Significantly, none of the identified pegmatites have been sampled for lithium or associated elements. Follow up work is planned including further mapping, rock chip sampling and, where possible, re-sampling of historical drilling. This work will also focus on following-up a number of existing nickel and gold targets, where historical intercepts measured 8 metres at 5.09 g/t gold. Newly acquired information database Montezuma purchased an extensive exploration database for the Lake Johnston Project from Hannan's Ltd (ASX:HNR) in December 2016 . The database includes geochemical, geophysical and drilling data, and has allowed Montezuma to accelerate target definition activities targeting economic accumulations of nickel, gold and lithium. During a detailed review of the database, a number of priority lithium targets have been identified within the project area. The review has highlighted a high volume of pegmatites, both in drilling, and in outcrop, some coincident with elevated levels of lithium. The planned follow-up work will also focus on the Hardcore and Ernest gold prospects where previous workers identified significant near surface gold mineralisation. Historical drilling intercepts from the Hardcore Prospect include: - 8 metres at 5.09 g/t gold; - 3 metres at 17.69 g/t gold; and - 2 metres at 35.88 g/t gold. Analysis The Lake Johnston area has recently become the focus of intensive lithium exploration, due to known lithium occurrences at Mount Day and Lake Percy, and the recent discovery of the nearby, and potentially world-class, Earl Grey lithium deposit. Montezuma's project is both along strike from such lithium discoveries and the first pass target generation has identified significant potential for lithium mineralisation. The area may also become a lithium processing hub with Kidman Resources (ASX:KDR) recently signing an agreement to lease the nearby Lake Johnston nickel facility for processing ore from their Earl Grey pegmatite deposit. Lake Johnston is an emerging exploration asset in Montezuma's multi-commodity exploration and mining tenements in Western Australia and France. Montezuma shares are up 20% over the past three months, currently priced at $0.16.