Montero Identifies Initial Exploration Targets at Elvira Gold Project Following Integrated Geological and Geophysical Interpretation
Montero Identifies Initial Exploration Targets
at Elvira Gold Project Following Integrated
Geological and Geophysical Interpretation
Toronto, Ontario--(Newsfile Corp. - March 18, 2026) - Montero Mining and Exploration Ltd. (TSXV:
MON) (OTC Pink: MXTRF) (FSE: ES0) ("
Montero
" or the "
Company
") is pleased to provide an update
on the interpretation of geological, geochemical and geophysical datasets at its Elvira gold project in
Chile's Maricunga Gold Belt, following completion of the Phase 1 exploration program previously
reported on March 2, 2026.
The integrated analysis confirms the presence of a district-scale high-sulphidation hydrothermal system
at Elvira and has identified several structurally controlled alteration centres, resistivity domains and
sulphide-bearing chargeability anomalies that represent priority areas for follow-up exploration and
potential drill testing.
The Project comprises a contiguous package of mining concessions covering the interpreted alteration
footprint and structural corridors identified to date. A location map showing the regional setting is
presented in Figure 1 and a detailed concession outline with simplified geology is presented in Figure 2,
with geological mapping and alteration shown in Figures 3 and 4, and geophysical datasets presented
in Figures 5, 6 and 7.
Figure 1: Regional location map of the Elvira Project, Maricunga Belt, Chile.
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Figure 2: Elvira Project concession boundary and simplified geological map.
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Dr. Tony Harwood, President and CEO of Montero, commented:
"The integration of geological
mapping, geochemistry and geophysical datasets has significantly improved our understanding of the
Elvira system. 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."
Key Interpretation Results
The interpretation of the combined exploration datasets indicates:
A large hydrothermal alteration system developed within volcanic-sedimentary host rocks
consistent with a high-sulphidation epithermal system extending across several kilometres.
Multiple north-northwest to north-northeast trending structural corridors interpreted from magnetic
data and geological mapping that may represent fluid pathways and potential feeder structures.
Strong correlation between alteration zones, geochemical anomalies and geophysical responses,
suggesting a coherent mineralizing system.
Chargeability and resistivity contrasts identified in Induced Polarization ("
IP
") surveys consistent
with zones of hydrothermal alteration and possible sulphide mineralization at depth.
A central deep-rooted conductive structure flanked by two resistive domains interpreted as
silicified zones associated with hydrothermal alteration.
These features collectively support the interpretation that Elvira hosts a significant hydrothermal system
with the potential for preserved mineralization.
Geological Interpretation
Detailed geological mapping confirms that the Elvira system developed within Miocene volcanic-
sedimentary sequences comprising lithic tuffs, volcanic agglomerates, and sandstones intruded by
dacitic porphyry to the west and an andesitic dome complex to the east (Figure 3).
The system is characterized by extensive advanced argillic alteration, including quartz-alunite alteration,
vuggy silica bodies and hydrothermal breccias mapped across the central portion of the project (Figure
4).
These alteration assemblages, together with the presence of silicified breccias, vuggy silica veins and
quartz-alunite alteration, are characteristic of high-sulphidation epithermal systems throughout the
Maricunga Belt and commonly occur above deeper porphyry-style mineralization systems, providing
further support for the interpreted scale and fertility of the Elvira hydrothermal system.
Figure 3: Geological map of the Elvira Project showing volcanic-sedimentary host rocks intruded by
dacite porphyry to the west and an andesite dome complex to the east. The high-sulfidation epithermal
system is characterized by quartz-alunite alteration, vuggy silica veins and hydrothermal breccias
developed within the volcanic-sedimentary units (Frutos, 2025).
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Figure 4: Alteration map derived from geological mapping showing the distribution of quartz-alunite
alteration and advanced argillic assemblages developed across the volcanic-sedimentary host rocks
and intrusive bodies. The central alteration zone hosts the widest vuggy silica replacement bodies and
represents the most prospective zone within the hydrothermal system for mineralization. (Frutos, 2025).
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In addition, high-resolution multi-element geochemical datasets are currently being evaluated using
porphyry vector modelling techniques to assess potential geochemical gradients that may indicate
proximity to a deeper porphyry-style mineralizing source beneath the epithermal system.
Field mapping has identified two priority exploration areas within the central alteration system:
Western Target
- associated with hydrothermal breccia bodies developed along the western
margin of the alteration system and extending for more than 800 metres.
Eastern Target
- located within volcanic-sedimentary host rocks where vuggy silica veins are
thickest and most abundant, representing a potential stratigraphically controlled replacement zone.
The scale and intensity of alteration observed at Elvira suggest a robust hydrothermal system capable of
hosting mineralization.
Geophysical Interpretation
Ground magnetic and IP surveys have improved the understanding of subsurface structures and
lithological contrasts across the property. The ground magnetic survey covered approximately 205
kilometres of survey lines spaced at 50 metres, while IP surveys were completed along seven lines
totalling approximately 19.2 kilometres.
Magnetic Highlights
Magnetic data highlight several linear structural trends and intrusive contacts that may represent potential
conduits for mineralizing fluids. Magnetic vector inversion modelling identifies a large magnetic anomaly
interpreted as an andesitic dome complex with magnetic susceptibilities ranging from approximately
0.01 to 0.07 SI units, consistent with magnetite-bearing volcanic lithologies (Figure 5).
A narrow magnetic low truncating the western margin of the dome is interpreted as a deep-rooted
structural corridor, which coincides with a conductive feature identified in the IP survey. This structural
corridor forms the core of the interpreted priority exploration corridor and is spatially associated with
coincident chargeability anomalies identified in the IP dataset.
Figure 5: Elvira Project showing the Pole Reduced Magnetic Intensity Grid (line spacing 50 m) and
location seven IP lines survey lines (pole-dipole, a=100 m, n=1 to 20) (Argali, 2026).
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IP-Resistivity Highlights
IP-resistivity data identified zones of contrasting chargeability and resistivity that coincide with mapped
alteration zones and structural features (Figure 6). These anomalies are interpreted as potential targets
for further evaluation.
A consistent geophysical pattern is observed across multiple IP lines consisting of:
A western resistive lobe interpreted as silicified rock associated with hydrothermal alteration.
A central conductive zone interpreted as a fault or structural corridor.
An eastern resistive lobe associated with silicification near the andesitic dome complex.
Strong chargeability anomalies reaching up to approximately 25 mV/V occur along the central structural
corridor and beneath the western resistive lobe, suggesting the presence of sulphide mineralization at
depth (Figures 6 and 7) however, these responses are geophysical in nature and require validation
through drilling.
The coincidence of strong chargeability anomalies with silicified resistive zones, mapped hydrothermal
breccias, and the interpreted structural corridor represents a compelling integrated exploration target
that will be further refined through ongoing geochemical vector modelling and three-dimensional
geological interpretation.
The interpreted structural corridor and associated resistive alteration zones define a prospective
exploration corridor approximately 700 metres by 600 metres in extent. Geophysical responses are
interpretive in nature and do not necessarily indicate the presence of economic mineralization or mineral
resources.
Figure 6: Plan map of Inverted Resistivity (left) and Chargeability (right) anomalies at elevations 3800 m
(top), 3700 m, 3600 m derived from the 2025 IP survey. Elevated chargeability values reflect zones of
increased sulphide content within the hydrothermal system. A strong chargeability anomaly is centred
between IP lines 7078800N and 7079200N and coincides with mapped alteration and structural
corridors identified from geological mapping and magnetic interpretation (Argali, 2026).
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Figure 7: Representative IP Resistivity and Chargeability inversion sections across the Elvira
hydrothermal system showing resistive silicified zones flanking a central conductive structural corridor
interpreted as a major fault or structural feeder zone. Chargeability anomalies associated with sulphide
mineralization occur beneath the western resistive lobe and along the central structural corridor (Argali,
2026).
To view an enhanced version of this graphic, please visit:
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Integrated Targeting
The Company is currently integrating all available geological, geochemical and geophysical datasets
using integrated structural interpretation and three-dimensional geophysical inversion modelling,
together with data-driven analytical techniques including artificial intelligence-assisted modelling.
This initial work has resulted in the identification of several priority exploration areas within the broader
alteration system that warrant further investigation.
High-resolution multi-element analytical geochemical results generated from the recent surface sampling
program are currently undergoing geochemical vector analysis and will be integrated with the geological
and geophysical datasets to further refine the evolving three-dimensional exploration model. Results
from the geochemical vector analysis will be incorporated into the Company's broader integrated
interpretation workflow as part of ongoing three-dimensional geological modelling.
In particular, the intersection of the central structural corridor with the western resistive silicified zone and
strong shallow chargeability anomalies represents a high-priority exploration target for potential drill
testing. The interpretation process remains ongoing and will be refined as additional analytical work and
data integration, artificial intelligence assisted modelling, and independent technical review is
completed.
Next Steps
The next phase of work at Elvira will focus on:
Finalizing the integrated geological model.
Continued interpretation of geochemical and geophysical datasets.
Completion of the ongoing geochemical vectoring analysis of the high-resolution multi-element
dataset.
Advancing technical evaluation of priority exploration targets toward potential drill testing.
Prioritizing potential drill targets.
Completing technical evaluation prior to any decision regarding drill testing.
The Company expects to provide further updates as interpretation of the integrated datasets
progresses.
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved
by Mr. Marcial Vergara, B.Sc., and Mr. Mike Evans, M.Sc. Pr.Sci.Nat., each a Qualified Person as
defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and consulting
geologists to the Company.
About Montero
Montero Mining and Exploration Ltd. is a Canadian exploration company focused on gold and copper
exploration in Chile. Montero holds a 100% interest in the Avispa copper-molybdenum project in the
Palaeocene Porphyry Cu-Mo Belt of northern Chile and has an option to acquire the Elvira and Potrero
gold projects in the Maricunga Gold Belt. These projects are currently being advanced through
exploration. The Company's board and management have a proven track record in discovery and
development of precious and base metal projects.
Montero is listed on the TSX Venture Exchange under the symbol MON and has 8,353,833 Common
Shares and 835,383 stock options outstanding.
For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood
, President, and Chief Executive Officer
E-mail:
Tel: +1 604 428 7050
www.monteromining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release
includes certain "forward-looking information" within the meaning of applicable Canadian securities
laws. Forward-looking information in this press release includes, but is not limited to, statements
regarding: the integration and interpretation of geological, geochemical and geophysical data; the
application of artificial intelligence and machine learning tools; the identification, evaluation or
prioritization of areas for further exploration; the potential for mineralization; and the timing or scope of
future exploration activities, including any potential drilling. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects", "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "does not
anticipate", or "believes", or variations of such words and phrases, or statements that certain actions,
events or results "may", "could", "would", "might" or "will" occur or be achieved. Such information is
based on information currently available to Montero and on assumptions management believes are
reasonable as of the date of this news release. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause actual results, level of activity,
performance or achievements of the Company to be materially different from those expressed or implied