Canadian explorer completes geophysical and geochemical surveys at Elvira as it prepares for next phase of work
Montero Mining and Exploration Ltd (TSX-V:MON, OTC:MXTRF), the Toronto-listed junior explorer, has completed a comprehensive exploration programme at its Elvira gold project in northern Chile, using artificial intelligence and machine learning tools to help identify priority targets for future drilling.
The programme at Elvira, located approximately 170 kilometres northeast of Copiapó in Chile's Maricunga Belt, included detailed geological mapping, ground magnetic surveying covering 205 line-kilometres, induced polarisation and resistivity surveys across seven lines, and high-resolution surface geochemical sampling.
The Maricunga Belt is a well-established gold mining district. Neighbouring projects include Kinross Gold's La Coipa and Lobo-Marte mines, Gold Fields' Salares Norte mine, and Rio2's Fenix gold project.
Montero said it is now integrating the geological, geochemical and geophysical datasets using AI-assisted modelling and three-dimensional visualisation tools, with the interpretation process still ongoing. An independent geochemical analysis commissioned from Fathom Geophysics, a specialist consulting firm, is also pending.
The company cautioned that the areas identified for further evaluation remain conceptual and require additional analysis before any drill targets can be formally defined.
Tony Harwood, president and chief executive, said the company was taking a systematic approach rather than focusing on isolated anomalies, combining fieldwork with AI-assisted modelling to prioritise areas for further study.
Historical drilling at Elvira, carried out between 2014 and 2016, intersected gold, copper, zinc and silver mineralisation within what geologists describe as a high-sulphidation epithermal system, a type of hydrothermal deposit associated with volcanic activity.
Reported intercepts included 39 metres grading 0.66 grams of gold per tonne, including 11 metres at 2.0 grams per tonne, though Montero noted these historical results have not been independently verified and should not be relied upon as current mineral resources.
Montero said it plans to publish more detailed technical reporting on the exploration results, AI analysis and any defined drill targets once the ongoing interpretation and independent review process is complete.