Montezuma Mining Confirms Pinnacles Cobalt Mineralisation

THE DRILL SERGEANT: Montezuma Mining Company (ASX: MZM) claims to have confirmed potential for high-grade cobalt associated with manganese-nickel oxide mineralisation during an ongoing historic data review at the company’s 100 per cent-owned Pinnacles project.

The Pinnacles project is located north east of Kalgoorlie, approximately 50 kilometres from the company’s Lake Johnston lithium project.

Montezuma Mining said the addition of cobalt to its project portfolio strengthens the company’s strategic position as it aims to expand into the technology metal space to take advantage of increasing metal prices resulting from strong projected demand growth.

Most key battery technologies use lithium with manganese and/or cobalt, which Montezuma pointed out happen to be the target commodities for the company’s Butcherbird, Lake Johnston and Pinnacles projects.

“As a result of the historic work being focussed on the nickel rather than the cobalt mineralisation, the company believes there may be potential for further work to better define the higher grade cobalt zones within the greater lateritic nickel orebody,” Montezuma Mining said in its ASX announcement.

“The apparent association between cobalt and manganese mineralisation will be further explored in future analyses as this may have importance in relation to understanding the cobalt distribution but also potential metallurgical processing options.”

Website: www.montezuma.com.au