- Montero Mining and Exploration (MON) has reported the assay results of surface geochemical sampling undertaken on the Avispa Property in northern Chile
- Company geologists collected lithological samples from the San Salvador River valley and from reverse circulation (RC) drill chip piles from drilling sites completed
- Some samples returned anomalous copper and molybdenum values which require further investigation
- Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold, silver, and base metal deposits in Chile
- Montero Mining and Exploration Ltd. was unchanged at $0.045 as at 2:07 PM ET
Montero Mining and Exploration (MON) has reported the assay results of surface geochemical sampling on the Avispa Property in northern Chile.
Geologists of the company collected lithological samples from the San Salvador River valley and from reverse circulation (RC) drill chip piles from drilling sites completed by BHP and Quantum Pacific Exploration Chile on the Avispa Property.
Some samples indicated anomalous copper and molybdenum values which require further investigation and support Montero’s belief the Avispa project area has been only cursorily explored for potential concealed copper-molybdenum porphyry deposits beneath surficial sediments and gravels.
Avispa is located about 40 km to the west of the Chuquicamata copper porphyry deposit in an area currently being explored by major mining companies.
“The company is further evaluating the geochemical results and has engaged a consulting company to undertake propriety algorithmic geochemical analysis of the results with a goal of generating 3-D targets indicating the location of possible copper molybdenum porphyry mineralization,” explained Tony Harwood, President and CEO of Montero.
The river valley is about 120-160 m below the Miocene plateau and exposes the underlying Cretaceous volcanics and sediments as well as providing information on the thickness of the Miocene sedimentary overburden.
Montero conducted detailed mapping of these rocks along this valley and its tributaries.
Copper was anomalous in seven locations returning values of >100 ppm Cu with the highest value of 476 ppm Cu coming from sample of Cretaceous andesite volcanic rock.
The company completed sampling of rock chips piles from previous RC drilling site at Avispa.
The highest copper concentrations of >100 ppm Cu were obtained from the area of intense drilling.
In contrast, the highest molybdenum anomalies of 10-25 ppm Mo were collected from 3 BHP RC drill hole sites.
The lithological sampling in the San Salvador area and the drill chip sampling confirmed the occurrence of altered, intrusive rock as part of the underlying geology, from which several grab samples returned anomalous copper and highly anomalous molybdenum concentrations.
Montero has also undertaken initial geological mapping and sampling to evaluate Avispa’s potential to host lithium, iodine, and nitrate (fertilizer) mineralization.
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold, silver, and base metal deposits in Chile.
Montero Mining and Exploration Ltd. was unchanged at $0.045 as at 2:07 PM ET.