Montero Mining and Exploration Ltd (TSX-V:MON) told investors that software analysis by Fathom Geophysics on its Avispa project in Chile had shown the location of a porphyry copper molybdenum target at depth.
Fathom loked at a geochemical data from an area of close spaced drill holes using proprietary software and compared it to models of mineralized porphyry systems.
Avispa sits 40 kilometres (km) west of the Chuquicamata copper porphyry deposit and 40 km north of BHP's Spence copper-moly mine and KGHM/South32's Sierra Gorda copper-moly mine.
READ: Montero Mining and Exploration confirms anomalous copper-molybdenum values on Avispa property in Chile
"Independent modelling carried out using Fathom's proprietary processing technology on geochemical samples, taken from drill chip piles at surface, have generated a significant copper molybdenum drill target area at depth," noted Dr Tony Harwood, the CEO of Montero in a statement.
"Avispa is being investigated for its potential to host a significant copper molybdenum porphyry deposit at depth and near other near surface deposits. The company continues to evaluate other areas on the property."
Montero noted that the success of this work had encouraged it to deploy Fathom analysis on other areas at Avispa.
Reverse circulation (RC) drill hole samples from the rest of the property and lithological samples obtained from the San Salvador River valley provide an additional dataset for analysis.
"Fathom's analysis has been successfully used to identify existing porphyry mineralization systems at depth such those explored by Solgold in Ecuador," the statement noted.
Montero said it was evaluating other targets at Avispa with Fathom to define potential porphyry drill targets. The results of this work are expected in the fourth quarter of 2022 and will be integrated into a drill targeting program, it said.
Fathom provides geophysical and geoscience data processing and targeting services to the minerals and petroleum exploration industries.
Montero is a junior explorer focused on finding, exploring, and advancing globally significant gold, silver, and base metal deposits in Chile.
Contact the writer at giles@proactiveinvestors.com