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Montezuma Mining Company Ltd sets sail for raising

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Montezuma Mining Company Ltd (ASX:MZM) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Montezuma recently expanded its Western Australia gold focus, after adding the Holleton Gold Project to its portfolio.

The project contains multiple soil anomalies providing a pipeline of priority underexplored targets for Montezuma.

The project hosts the Brahma gold prospect, a 2.5 kilometre long gold soil anomaly, which has been historically tested with shallow aircore drilling confirming target potential.

Only three deeper holes over 50 metres deep have been drilled, all of which intersected broad mineralised intervals with grades of up to 7.6 g/t gold.

Montezuma plans to commence exploration at Holleton once the exploration licence application has been granted.

The company also has a 100% interest in the Yamarna Gold Project and the Butcherbird Manganese/Copper Project, which are both located in Western Australia.

The halt will remain in place until the opening of trade on Thursday 4th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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