- Montero Mining and Exploration (MON) has been awarded exploration concessions covering 13,200 hectares at its Avispa Project
- The copper molybdenum porphyry target is located in the Atacama Desert of northern Chile
- The company also submitted 14 new applications covering an additional 3,800 hectares adjoining the Avispa project
- The Avispa district was previously the target of some wide-spaced exploration drilling
- Shares of Montero Mining Exploration are up 3.57 per cent on the day, and are trading at C$0.29 at 12:55 pm ET
Montero Mining and Exploration (MON) has been awarded exploration concessions covering 13,200 hectares at its Avispa Project.
The copper molybdenum porphyry target is located in the Atacama Desert of northern Chile.
The Avispa project is located about 40 kilometres west of the Chuquicamata copper mine which is the world’s largest open pit copper mine.
The company also submitted 14 new applications covering an additional 3,800 hectares adjoining the Avispa project to control a total of 17,000 hectares.
The geology of the Avispa project area consists of extensive sedimentary evaporite salt deposits intercalated with fine grained clastic sediments of Tertiary age.
The Avispa district was previously the target of some wide-spaced exploration drilling by BHP.
“Montero has secured 17,000 hectares in this highly prospective copper district in proximity and in the same geological setting as other significant world-class operating Cu-Mo mines. Avispa is a legacy exploration asset that the company is seeking to monetize and provide Montero shareholders exposure to the burgeoning copper market in the new green economy.
Montero’s primary focus remains on advancing the Isabella Au-Ag project in the highly prospective and under-explored Coastal Range of southern Chile,” said Montero President and Chief Executive Officer Dr. Tony Harwood.
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Latin America. The company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America.
Shares of Montero Mining Exploration are up 3.57 per cent on the day, and are trading at C$0.29 at 12:55 pm ET.