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  • Montero Mining (MON) has started a field work program on its Avispa copper-molybdenum exploration concessions following successful reconnaissance exploration of the property
  • The Avispa project covers 17,000-hectares in the Atacama Desert of northern Chile. It is situated within the Paleocene-Eocene copper porphyry belt
  • The reconnaissance work has provided a basis for Montero’s Phase One field exploration program that will include geological mapping, drill chip sampling and geophysical surveys
  • Montero is an exploration company focused on exploring and advancing significant gold and base metals deposits in Latin America
  • Montero Mining and Exploration Ltd. (MON) is down 6.25 per cent on the day, trading at C$0.075 per share at 11:15 am ET

Montero Mining (MON) has started a fieldwork program on its Avispa copper-molybdenum exploration concessions in Chile.

This news follows the successful completion of reconnaissance exploration on the property.

The Avispa project covers 17,000-hectares in the Atacama Desert of northern Chile. It is situated within the Paleocene-Eocene copper porphyry belt which hosts giant operating copper-molybdenum mines.

The reconnaissance exploration process involved a detailed investigation of historical geological, geophysical, remote sensing, hydro-geological and Landsat data, reconnaissance mapping and sampling of the Avispa project area.

The reconnaissance work has provided a basis for Montero’s Phase One field exploration program that will include detailed geological mapping, drill chip sampling at previous drill sites, surface lithological sampling and geophysical surveys. Montero will use the information obtained in this phase to develop drilling targets.

Avispa is surrounded by exploration and mining concessions held by major mining companies, including Codelco in the north and Freeport and Glencor to the south, with Antofagasta and SQM exploring to the east and west, respectively. The Avispa district was previously the target of wide-spaced exploration drilling by BHP and other major mining companies but they only explored part of Montero’s Avispa property.

Dr. Tony Harwood, President and CEO of Montero commented on the exploration program.

“Montero’s 17,000-hectare landholding is clearly in the proximity and in the same geological setting as world-class operating copper-molybdenum mines. Our reconnaissance exploration has revealed positive detail on the geology, structure, geochemistry and the location of previous drilling sites. The Phase One field exploration program, now underway, will set out to discover mineralized copper-molybdenum deposits with smaller exploration footprints than that targeted by major mining groups.”

Montero is an exploration company focused on exploring and advancing significant gold and base metals deposits in Latin America.

Montero Mining and Exploration Ltd. (MON) is down 6.25 per cent on the day, trading at C$0.075 per share at 11:15 am ET.

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