Vautex BlogMontezuma Mining has today released the much...

Vautex Blog

Montezuma Mining has today released the much anticipated maiden resource calculation for Mount Padbury, in the Peak Hill region of Western Australia. Sinosteel/Midwest Corp conducted the drilling and subsequest resource calculation, defining a JORC complient 13.3Mt inferred iron ore resource at 56% Fe. This is the first exploration campaign targeting iron ore within the newly defined iron ore province and clearly demonstrates the regions capability of hosting DSO type iron deposits. The Jabiru resource was defined over an approximately 750m strike length.

Sinosteel and the Padbury Mining JV (70% Padbury Mining, 30% Aurium Resources) are the two largest stakeholders of the iron prospective tenure in this region. The Padbury Mining JV (PMJV) is currently drilling it's DSO prospect at Telecom Hill where previous drilling and rock rock chip sampling have yielded DSO grade iron ore samples. The PMJV aims to define a JORC complient resource for portions of the prospect this year, having already defined an exploration target of some 80-110Mt of DSO grade iron ore @ Telecom Hill alone.

PMJV has previously defined a Magnetite exploration target of 5.5-6.5BT up to 40% Fe over approximately 57km of strike within their tenure.

The image below shows the resource map released in Montezuma announcement here http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01052899. I have added the drill holes have colored them according to the size of the intercept. All mapped drill holes and intercepts use a 50% Fe cut off.



This next image shows a basic map of the Jabiru area and places it within the Robinson Range and with reference to the PMJV tenure.



The image below places the location of the Robinson Range iron ore province, and the PMJV tenure, within Western Australia. It shows the major iron ore projects nearby and the planned rail to Jack Hills as well as the possible spur line out to Wiluna West, through Weld Range. The PMJV Mount Padbury prospect is approximately 80km from Jack Hills.