Montero Mining and Exploration Ltd (TSX-V:MON) said initial geological mapping and geochemical sampling at its Avispa copper-molybdenum project in Chile has demonstrated the copper-molybdenum porphyry potential of the site.
Montero CEO Tony Harwood said Avispa was being investigated to assess its potential to host a significant copper-molybdenum porphyry deposit and also assess its lithium, iodine, and nitrate mineral potential.
“Within the Avispa claims area significant historical drill campaigns were carried out by BHP and Quantum Pacific Chile and Montero’s initial sampling and mapping campaigns were designed to build on their combined efforts,” he said.
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“Montero now controls a 182 square mile area in the same geological setting as Spence and Sierra Gorda copper-molybdenum mines and is 40 kilometres west of the supergiant Chuquicamata porphyry deposit, the largest open pit copper-molybdenum mine in the world.”
From its initial mapping and sampling work, Montero has identified 44 locations on the property to complete detailed mapping and sampling, with the results of this work expected in 3Q.
To assist in defining potential porphyry drill targets, the company has engaged Fathom Geophysics to evaluate all current project data. These results are also expected in 3Q.
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold, silver, and base metal deposits in Chile.
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