Montero Mining and Exploration Ltd (TSX-V:MON, OTC:MXTRF) said on Wednesday that an integrated analysis of geological, geochemical and geophysical data at its Elvira gold project in Chile’s Maricunga Gold Belt confirms a district-scale high-sulphidation hydrothermal system.
The Phase 1 exploration program, completed earlier this month, identified several structurally controlled alteration centers, resistivity domains and sulphide-bearing chargeability anomalies that the company said represent priority areas for follow-up exploration and potential drill testing.
“The integration of geological mapping, geochemistry and geophysical datasets has significantly improved our understanding of the Elvira system,” Dr Tony Harwood, CEO of Montero, said in a statement.
“Results indicate a large high-sulphidation epithermal system developed within volcanic-sedimentary host rocks intruded by dacitic porphyry and an andesitic dome complex, with mineralization controls linked to a major structural corridor and associated silicified alteration zones. These findings allow us to prioritize specific areas for potential drill testing as we advance the project.”
According to the company, detailed mapping confirmed that the Elvira system developed within Miocene volcanic-sedimentary sequences, including lithic tuffs, volcanic agglomerates and sandstones. The area shows extensive advanced argillic alteration, vuggy silica bodies, hydrothermal breccias and quartz-alunite assemblages, typical of high-sulphidation epithermal systems.
Geophysical surveys highlighted several structural corridors and resistivity contrasts consistent with hydrothermal alteration and potential sulphide mineralization at depth. Notably, a central deep-rooted conductive structure is flanked by two resistive domains interpreted as silicified zones associated with hydrothermal alteration, forming a prospective exploration corridor roughly 700 metres by 600 metres in extent.
Montero said it has identified two priority exploration areas within the central alteration system: a Western Target associated with hydrothermal breccia bodies extending more than 800 metres, and an Eastern Target marked by thick vuggy silica veins, possibly representing a stratigraphically controlled replacement zone.
The company is continuing to integrate all datasets using three-dimensional geological modelling, geochemical vector analysis, and artificial intelligence-assisted techniques to refine exploration targets. The next phase of work will focus on finalizing the geological model and advancing technical evaluation toward potential drill testing.