Shares in Montezuma Mining were hammered on Wednesday following the latest exploration results from its Butcherbird project in Western Australia.

Montezuma had been drilling to follow up an earlier result of 4 metres grading an impressive 6.97 per cent copper – a result that drew some comparisons to Sandfire Resources’ stunning Degrussa copper discovery –- but the latest drilling returned a best result of three metres grading 1.94 per cent copper.