Source: Montero Mining & Exploration
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Montero Mining and Exploration Ltd. (MON) has completed initial geological mapping and geochemical sampling on its Avispa Copper-Molybdenum Project in Chile
  • A seismic refection survey shows deep seated faults, which further suggests a favourable structural framework exists to host significant copper porphyry mineralization
  • Company geologists have begun an initial geological mapping and sampling of the property to evaluate the potential for copper molybdenum porphyry mineralization
  • Montero (MON) is up 16.67 per cent, trading at C$0.035 as of 12:30 pm ET

Montero Mining and Exploration (MON) has completed initial geological mapping and geochemical sampling on its Avispa Copper-Molybdenum Project in Chile.

These concessions cover a 473 km2 area and are located 40 kilometres west of the supergiant Chuquicamata copper molybdenum porphyry deposit.

Avispa is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and north of BHP’s Spence Cu-Mo mine and KGHM / South32’s Sierra Gorda Cu-Mo mine.

The project’s surface is reported to contain anomalous lithium, iodine, and nitrate minerals.

A seismic refection survey shows deep seated faults, which further suggests a favourable structural framework exists to host significant copper porphyry mineralization.

Company geologists have begun an initial geological mapping and sampling of the property to evaluate the potential for copper molybdenum porphyry mineralization.

Montero’s President and CEO, Dr Tony Harwood explained that the company now controls a more than 470 square kilometre area in the same geological setting as Spence and Sierra Gorda copper molybdenum mines and is 40 km’s west of the supergiant Chuquicamata porphyry deposit, the largest open pit copper molybdenum mine in the world.

“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. Avispa is being investigated to assess the potential to host a significant copper molybdenum porphyry deposit and also assess its lithium, iodine, and nitrate mineral potential.”

Montero Mining and Exploration Ltd. (MON) is a junior exploration company focused on finding, exploring, and advancing globally significant gold, silver, and base metal deposits in Chile.

Montero (MON) is up 16.67 per cent, trading at C$0.035 as of 12:30 pm ET.


More From The Market Herald

" KLIMAT X Developments (TSXV:KLX) closes acquisition

KLIMAT X Development (TSXV:KLX) has closed its acquisition of carbon credit development rights.
Copper Mountain Mining Corporation - President & CEO, Gil Clausen.

" Copper Mountain Mining (TSX:CMMC) reports reserve increase

Copper Mountain Mining Corporation (CMMC) reported an increased MRE with a revised life of mine plan for its Copper Mountain Mine in B.C.

" Rover Metals Corp. (TSXV:ROVR) receives exchange approval for IML critical minerals project acquisition, NT, Canada

Rover Metals (ROVR) has received approval for the Indian Mountain Lake (IML) option-purchase agreement and the included milestone payment.

" Fabled Copper (CSE:FABL) secures underground adits at Muskwa Project

Fabled Copper (FABL) has secured four adit entrances on its Muskwa Copper Project in B.C.