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Montezuma Mining to rename company Element 25

The company is seeking shareholder approval to be renamed Element 25 Limited.
manganese 25th element on periodic table
The new name references manganese, the 25th element on the periodic table

Montezuma Mining Company Ltd (ASX:MZM) is a diversified explorer focused on manganese, cobalt, lithium and gold.

It holds a number of multi-commodity exploration and mining tenements in Western Australia and France.

Montezuma’s priority focus is on the project development activities at its 100% owned Butcherbird Manganese Project in Western Australia.

Australia’s largest onshore manganese resource

The Butcherbird Manganese Project hosts Australia’s largest onshore manganese resource.

The project comprises of large tonnages of near-surface manganese oxide ore across eight deposits.

In October 2017, the company upgraded its resource to JORC 2012 standards.

READ: Montezuma Mining Company upgrades Butcherbird manganese resource

The global resource at Butcherbird stands at 180 million tonnes grading 10.8% manganese.

Yanneri Ridge deposit the focus of CSIRO studies

The resource upgrade also included a maiden Indicated resource at Yanneri Ridge of 22.4 million tonnes at 12.0% manganese.

This Indicated resources at Yanneri Ridge has been the focus of initial scoping studies on completion of metallurgical flow sheet design program being conducted by the CSIRO.

The flow sheet developed for Butcherbird is unique in that it is conducted at atmospheric pressure, ambient temperature and at a coarse grind size, all of which reduce costs over traditional approaches.

Manganese in the form of electrolytic manganese dioxide (EMD) is a key ingredient in several types of widely used battery technologies.

Ability to produce high-value manganese products

Whilst high purity manganese makes up only 10% of the manganese market by volume, it accounts for an estimated 40% of the total value in sales of the market.

The production of high purity products from Butcherbird ores allows Montezuma to initiate commercial studies into becoming a producer of high-value products rather than attempting to compete in the traditional bulk commodity manganese markets.

The flow sheet developed for Butcherbird is unique in that it is conducted at atmospheric pressure, ambient temperature and at a coarse grind size, all of which reduce costs over traditional approaches.

Following the success of the investigations, Montezuma and CSIRO have initiated discussions to enter into a collaborative framework to pursue opportunities to commercialise the technology outside of the Butcherbird Project.

Scoping study is underway

After positive results from test work in 2017, Montezuma initiated a scoping study to review the potential for the Butcherbird Manganese Project.

The company aims to produce a range of high-value manganese products on a commercial scale.

The study will assess the options for project development and provide an assessment of the potential capital and operating cost requirements for project development.

READ: Montezuma Mining prepares to reveal manganese scoping study results

Montezuma is scheduled to present the results of the scoping study at the 121 Mining Investment Forum in Hong Kong on the 23-24 April 2018.

In the event that a successful scoping study is delivered, a decision to proceed to a preliminary feasibility study will be considered.

Large multi-commodity portfolio

The company’s portfolio of projects includes:

• Butcherbird Manganese Project, Western Australia;
• Butcherbird Copper Project, Western Australia;
• Pinnacles Cobalt Nickel Project, Western Australia;
• Lake Johnston Lithium Project, Western Australia;
• Holleton Gold Project, Western Australia;
• Green Dam Project, Western Australia;
• Mt Padbury Project, Western Australia; and
• Bonneval Gold Project, France.

The Pinnacles Cobalt Nickel Project contains high grade near surface cobalt mineralisation over broad zones as well as hosting a priority un-drilled nickel sulphide target.

The Lake Johnson Lithium project is prospective for near surface pegmatite hosted lithium mineralisation and first pass reconnaissance work has confirmed this potential.

The Holleton Project contains a number of priority gold targets, including a 2.5-kilometre-long high tenor auger and aircore anomaly.

Only three deep holes have been drilled at the anomaly all of which intersected broad zones of gold mineralisation with individual grades of up to 7 g/t.

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