https://www.miningweekly.com

Montezuma signs on for Woodie Woodie West

10th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Montezuma Mining Company has signed an option agreement over a 75% interest in the Woodie Woodie West manganese project, in Western Australia.

The company reported on Thursday that it would acquire the shareholding from Ucabs in exchange for a A$15 000 option fee for an exclusive 12-month period. A second option payment of A$10 000 would be due on the start of drilling, and upon exercise of the agreement, Montezuma would acquire the majority shareholding in the project on payment of A$385 000 in cash and A$100 000 in shares.

The option agreement also contained provisions for extending the option period.

Montezuma CEO Mike Moore said that the Woodie Woodie West project held considerable potential to host high-grade manganese mineralisation similar to that at the Woodie Woodie mine, which has been in production since the early 1950s.

The Woodie Woodie project had produced more than 35-million tonnes of ore to date.

Moore said that Montezuma would start drill testing the potential of the Woodie Woodie West project as soon as possible. The drill testing would start with a number of identified target areas, as soon as heritage clearances have been received.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.078 0.155s - 111pq - 2rq
Subscribe Now