Monterey Minerals Completes Purchase of 525 square kilometres in the Pilbara region of Western Australia
Monterey Minerals Completes Purchase of
525 square kilometres in the Pilbara region
of Western Australia
TORONTO, ON - April 2, 2019 - Monterey Minerals Inc. (the “Company” or “Monterey”) (CSE:
MREY, FSE: 2DK ) is pleased to announce that it has completed the purchase of CTTR Mining
Tenements Pty Ltd. (“CTTR Mining”). Monterey previously announced (see press release dated
March 11, 2019) that it would issue 7 million common shares for all of the shares of CTTR
Mining, which owns seven tenements encompassing over 525 square kilometres in the Pilbara
region of Western Australia.
President and CEO, James Macintosh stated “As we continue to increase our property portfolio,
we are now looking forward to exploring our over 670 sq. km. in the Pilbara Basin. We will
announce our exploration plans upon the completion of our internal review of the historical
data.” Chairman, Guy Le Page added “The next twelve months are going to be very busy with
major players in the Pilbara Basin all committing to significant exploration programs, including
Novo Resources, DeGrey Mining, Pacton Gold, Kairos Minerals and Artemis Resources.”
CTTR Mining and Ridge Street Tenements in the Pilbara Basin
CTTR Mining Tenements
Tenement E47/3891 covers about 155 sq.km. and is adjacent to Novo Resources / Pioneer
Resources’ Egina Joint Venture Project and directly to the northeast of Kairos Mineral’s Croydon
Project, where Kairos has had exploration success . The proper ty is roughly 2 km from Pacton’s
Friendly Creek project.
Tenement E45/5056 covers 22 sq.km. and is surrounded by De Grey Mining’s Pilbara Gold and
Turner River Base Metals Projects. Adjacent to the property is De Grey’s Wingina Mining Centre.
The property hosts secondary faults and shears adjacent to the Tabba Tabba Shear Zone.
Tenement E45/5063 covers 85 sq.km. and lies 4 km to the north of the Tabba Tabba Shear Zone
and directly south of the Indee Fault, which transects the tenement. The property is adj acent
to and immediately northeast of the Pacton Gold / Arrow Minerals Joint Venture, and 5km to
the north of De Grey Mining’s Pilbara Gold Project.
The five tenements E45/5058 and E45/5062 through E45/5065 cover 344 sq.km. The properties
are predominately underlain by granitoids of the Sisters Supersuite and the Split Rock Supersuite
as well as sediments of the Mallina Basin, which form part of the De Grey Superbasin within the
Pilbara Craton. Monterey will be targeting gold bearing sediments of the Mallina Basin and host
structures in the area as Novo, Pacton, DeGrey and Sayona are currently doing.
Qualified Person
The technical information in this press release has been reviewed and approved by William
Stewart, an independent geologist, who is a Member of The Australian Institute of Mining and
Metallurgy and Australian Institute of Geoscientists. Mr. St ewart has sufficient relevant
experience to qualify as a Competent Person (“CP”) as defined in the JORC Co de and a s a
Qualified Person (“QP”) under NI 43-101.
About Monterey Minerals Inc.
Monterey Minerals is a mineral exploration company focused on its 140 sq. km. Sherlock River
Property on the eastern flank of the Pilbara Basin in Western Australia, which a buts Pacton
Gold’s tenement where gold- bearing conglomerates were identified. The Company also owns
the Cobalt Mountain Project (the “Project”), near Smithers, BC. The Company’s NI 43 -101, on
SEDAR, notes historic sampling at the Project that returned mineralized showings of gold, silver,
copper, zinc and cobalt.
For more information, contact investor relations at [email protected]
On Behalf of the Board of Directors,
James Macintosh
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or
accepted responsibility for the adequacy or accuracy of this press release
This press release may include forward- looking information within the meaning of Canadian securities
legislation, concerning the business of the Company. Forward- looking information is based on certain
key expectations and assumptions made by the management of the Company. Although the Company
believes that the expectations and assumptions on which such forward- looking information is based on
are reasonable, undue reliance should not be placed on the forward- looking information because the
Company can give no assurance that they will prove to be correct. Forward- looking statements
contained in this press release are made as of the date of this press release. The Company disclaims any
intent or obligation to update publicly any forward- looking information, whether as a result of new
information, future events or results or otherwise, other than as required by applicable securities laws.