Montero Mining and Exploration Ltd. (MON.V)
- GlobeNewswire
Montero Identifies Additional Potential for Sediment-Hosted Mineralization at Isabella Gold Silver Project, Chile
Figure 1 Isabella Property Map showing district geology with Montero property boundaries and the distribution of a fine-grained leucogranite phase along the margins of a larger granite intrusive. The strong spatial association of mapped quartz veins (in red) with the fine-grained leucogranite is indicated. Figure 2 Isabella Property 3D Google Earth image showing extent of granite intrusive and the distribution of currently defined quartz veins (red) as mapped on surface that occur along the topographic ridge marking the granite contact with older sediments. The distribution of quartz veins along the granite contact is indicated as is the close spatial association of veins with a fine-grained leucocratic phase of the granite. The leucogranite is currently interpreted as a more differentiated intrusive phase. The area of drone magnetic survey completed by previous owner is also shown and detailed below in Figure 3. Figure 3 Displays 1st vertical derivative magnetic image for the Isabella East property. Image shows the occurrence of extensive high magnetic zones within sediments adjacent to the granite contact and the area identified for potential sediment-hosted mineralization. The distribution of surface vein sample assays results for Au g/t are also indicated as are areas of leucogranite. Figure 4 below shows 3D inversion model of the high magnetic zone hosting the breccia. Figure 4 Image of 3D magnetic inversion model showing zone of high magnetics in sediment adjacent to the contact with low magnetic granite. An approximately 1 km long zone of high magnetics is coincident with the occurrence of iron-oxide rich breccia containing anomalous Cu-Zn-Pb. Figure 5 Photos of Fe-oxide rich, brecciated sediment boulders and outcrop (lower right) which occurs associated with high-magnetic zones in the sediments to the south and adjacent to the granite contact. TORONTO, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to announce that it has conducted additional exploration work to support the potential for sediment-hosted mineralization south of the granite-sediment contact within the Isabella Project area. The Isabella Project is located approximately 200 km south of Santiago and 125 km south of Yamana’s Minera Florida mine in the Southern Coastal Range of Chile. Montero’s geologists have analyzed and re-interpreted previous geological, sampling and geophysical work in the area of the granite-sediment contact and has defined initial drill targets to test areas of potential sediment-hosted mineralization. Discovery of such mineralization would present Montero with a potential bulk minable resource target at Isabella. Dr Tony Harwood, President of Montero commented: “I am pleased to announce that Montero has completed additional geological work and geophysical interpretation and shown additional prospectivity for a significant target in the sediments on the Isabella Gold Silver property. The company continues to drill the 4 targets and a further target outlined in the adjacent sediment target and will provide updates as we progress exploration and drilling.” Recent geological mapping by Montero geologists has aided in interpreting the granite intrusive that hosts Au-Ag mineralized quartz veins. The porphyritic granite has been identified as being of Lower Mesozoic (Jurassic to early Cretaceous) and the adjacent sediments as being marine in nature and of Triassic age (Munoz, 1993). Geological mapping revealed a texturally distinct leucocratic granite unit that occurs along the contact between the granite and the sediments in the Isabella area. There appears to be a clear spatial association of veining (shown in red) with the occurrence of the leucogranite (Figure 1). Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/f29399c0-781e-4c68-bd5c-3b04fb6b2a42 Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/83edbd65-d7c0-4fb1-8881-763ab6d7adc8 Montero has completed additional geological mapping and further evaluation of UAV magnetic data from a 2018 survey completed over a central part of the Isabella property. The survey was completed by Santiago-based, GfDas using a drone with a potassium vapour magnetometer. The objective of the survey at the time was to obtain magnetic data for an area of the granite – sediment contact to better understand the structural controls hosting the high-grade Au-Ag quartz vein arrays in the granite. Survey data indicates that the granite is characterized by low-moderate magnetic response whereas the adjacent sediments are marked by discrete zones of high magnetics along the granite contact (Figure 3). Montero geologists have also confirmed occurrence of an area of iron-oxide rich breccia within an area of high magnetics adjacent to the granite-sediment contact and a body of leucogranite. Samples of the iron-oxide breccia returned anomalous concentrations of up to 366 ppm Cu, 408 ppm Zn and 2 g/t Ag (Figure 3). Initial evaluation by Montero of the high magnetic zone hosting the breccias is shown in Figure 4. A 3D inversion model was completed showing that the breccias occur within a discrete zone of high magnetics within a broader magnetic anomaly. Montero will prioritize this area for initial drill testing as part of the current Isabella drill program. Initial field mapping indicates that other high magnetic zones are associated with similar iron-oxide rich brecciated sediment (Figure 5). As such, Montero will complete detailed mapping and sampling over the high magnetic zones to determine the potential for sediment-hosted base metal mineralization related to similar structural controls as those hosting the Au-Ag-bearing quartz veins within the granite. Figure 3: https://www.globenewswire.com/NewsRoom/AttachmentNg/b42010e8-0498-4624-b11c-520516d2c463 Figure 4: https://www.globenewswire.com/NewsRoom/AttachmentNg/8b439302-abc5-4a1c-806e-f38a84107b5a Figure 5: https://www.globenewswire.com/NewsRoom/AttachmentNg/5aa07b9d-145c-4ab4-94ab-ae0f64629e1c Qualified Person Statement This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr. Sci. Nat., who is a qualified person for the purpose of National Instrument 43-101 and a Consulting Geologist to Montero. A review was also undertaken by Sr. Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical advisor to Montero. Sr. Vergara has extensive experience in gold exploration in Chile. About Montero Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding. For more information, contact: Montero Mining and Exploration Ltd. Dr. Tony Harwood, President and Chief Executive Officer E-mail: ir@monteromining.com Tel: +1 416 840 9197 | Fax: +1 866 688 4671 www.monteromining.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the HOA, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the HOA on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
- GlobeNewswire
Montero Expands Land Holdings at the Isabella Gold Silver Project
Figure 1 Isabella’s new license applications covering 7 km of granite-sediment contact hosting quartz veins (shown in red). TORONTO, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has received confirmation of issuance of exploration licenses east and contiguous to the currently held Isabella claims. The new claims cover an additional 7 km of granite-sediment contact with reported granite-hosted quartz veins similar to those defined within Montero’s Isabella East and Isabella West property blocks. The Isabella Properties are located approximately 200 km south of Santiago and 125 km south of Yamana’s Minera Florida mine in the Southern Coastal Range of Chile. Dr Tony Harwood, President of Montero commented: “Montero has secured additional claims covering a further 7 km strike length along the granite sedimentary contact to the east of the existing Isabella claims. At Isabella, the Company is currently completing a maiden drill program to test 4 priority gold silver vein targets and a sedimentary geophysical target. Further mapping and sampling of these newly acquired claims is underway.” New Exploration License Applications Montero expanded its land holdings in the Isabella district based on prior geological mapping and surface rocks sampling carried out by the previous property owner. The new claims cover a 21 km2 area immediately east and contiguous to the current Isabella property holdings. Under the regulatory process the licenses will be constituted during Q2 2021 and will be 100% owned by Montero. The new licenses cover an additional 7 km of granite-sediment contact containing numerous, structurally controlled quartz veins within the granite. Previous reconnaissance chip sampling returned values up to 0.85 g/t Au, 23 g/t Ag in exposed veins which ranged up to 4 m in width. Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/c3979f3c-ca5f-478d-a6cd-a19aad8353a2 Qualified Person Statement This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr. Sci. Nat., who is a qualified person for the purpose of National Instrument 43-101 and a Consulting Geologist to Montero. A review was also undertaken by Sr. Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical advisor to Montero. Sr. Vergara has extensive experience in gold exploration in Chile. About Montero Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding. For more information, contact: Montero Mining and Exploration Ltd. Dr. Tony Harwood, President and Chief Executive Officer E-mail: ir@monteromining.com Tel: +1 416 840 9197 | Fax: +1 866 688 4671 www.monteromining.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the HOA, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the HOA on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
- GlobeNewswire
Montero Completes Drilling of Target A at The Isabella Gold Silver Project in Chile
Figure 1 Location map showing 4 vein drill target areas hosted over 25 km strike length at Isabella. Figure 2 Location of Isabella drill holes 1 through 10 Target A. Figure 3 Core Box for Hole ISB20-1 from 24.5 m to 29.1 m showing quartz vein and intensely altered and brecciated leucocratic granite wallrock. Each core box row is 50 cm in length. Figure 4 Disseminated sulphides within quartz vein intersected in hole ISB20-3. Table 1 Target A Drill Hole Collar Details (PSAD56-19S datum). TORONTO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has completed 1,096 m of a planned 2,800 m diamond drill program at its Isabella Gold Silver Project (“Isabella”) in Chile. At Isabella 2,600 m of drilling is planned to test gold silver mineralization within 4 separate vein targets and 200 m to test for breccia-type base-metal mineralization in sediments adjacent to the granite contact. Drilling is now complete at Target A and the drill rig has been moved to Target C where 2 holes will be completed before moving to Target B and Target D. Target A drill core is being logged and is being dispatched for assay once core logging is completed. Drilling is being carried out by Mountain Drilling Limitada based in La Serena, Chile, and to adhere to Covid-19 safety protocols, have set up a camp at site to reduce interaction with the local community. Dr Tony Harwood, President of Montero commented: “The maiden drill program at Isabella has progressed well with drilling completed at Target A intercepting quartz veins with visible sulphides in all holes. The drill rig has been moved to Target C where 2 drill holes will test below a series of northeast trending quartz veins exposed and historically mined pits where surface sampling returned up to 48 g/t Au and 263 g/t Ag.” Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/cbf06957-0fc4-47af-ac8a-8205ed5467b2 Target A - Isabella West Drilling The Company completed the planned 10 diamond drill holes for a total of 1,096 m. Drilling tested a series of northwest-trending quartz veins along approximately 600 m of strike length at a 25-50 m vertical depth (Figure 2). Montero geologists report that quartz veins with visible sulphides have been intersected in all drill holes (Figure 3 and Figure 4). The drill core is HQ diameter and is being logged and cut for sampling by Montero geologists at the company facility in the village of Hualane. Selected intervals of quartz veins and altered granite host-rock have been half-core sampled at 1 m intervals for assay with each batch of 25 samples to include 1 certified reference standard and a sample blank. The samples are being hand delivered by Montero personnel to the Andes Analytical Assay lab in Santiago for assay. Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/1a0be466-abbc-4b17-8d56-1c727fe7b573 Figure 3: https://www.globenewswire.com/NewsRoom/AttachmentNg/a2e01dc4-8c7f-4cd0-8c18-82b5eab4942e Figure 4: https://www.globenewswire.com/NewsRoom/AttachmentNg/91ea3383-c179-4b4c-8b7d-0028f10aac62 Table 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/7d5f8535-2e67-451e-b40c-6dfd1cd0ee0c Qualified Person Statement This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr. Sci. Nat., who is a qualified person for the purpose of National Instrument 43-101 and a Consulting Geologist to Montero. A review was also undertaken by Sr. Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical advisor to Montero. Sr. Vergara is directly supervising all parts of the drill program. Sr. Vergara has extensive experience in gold exploration in Chile. About Montero Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding. For more information, contact: Montero Mining and Exploration Ltd. Dr. Tony Harwood, President and Chief Executive Officer E-mail: ir@monteromining.com Tel: +1 416 840 9197 | Fax: +1 866 688 4671 www.monteromining.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the HOA, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the HOA on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
