Detailed Mapping Identifies Areas of Extensive Quartz Veins and Discovers New Gold Occurrence at Isabella Project, Chile
Detailed Mapping Identifies Areas of Extensive Quartz Veins and Discovers New Gold
Occurrence at Isabella Project, Chile
Toronto, Ontario – June 7, 2021 – Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has
mapped an area of extensive quartz veins in the newly staked Isabella Oriental concession block. Mapping has also been
extended to the Docamavida area south of Isab ella where a new style of gold occurrence has been discovered. Both areas
are outside of the target areas undergoing drill testing by the Company.
Dr Ton y Harwood, President o f Montero comme nted: “I am pleased to confirm by mapping an extens ive vein system
identified in recently s taked Isabella Oriental area to the east of the current drilling program. Our mapping has also
discovered a new gold occurr ence associated wi th tourm aline breccia dykes in the Docamavida area to the south. The
mapping confirms that granite-hosted gold-silver mineralized quartz veins extend along the entire 12 kilometers of the
southern granite sediment contact in the Isabella district”.
The Company has completed a detailed mapping program in select areas t o better understand the occ urrences of
mineralized quartz veins and their spatial association with in an d adjacent to leucogranite (Figure 1) . The mapping has
identified a narrow (200 m) band of volcanic rocks that extends in an east-west direction adjacent to t he southern contact
of the Isabella granite. The volcanic unit is host to numerous gossan breccia boulde rs that occur south of t he Isabella East
property and which have been previously described by the Company.
Figure 1: Isabella district showing areas of detailed mapping in the Isabella Oriental and Docamavi da prospect areas. The
mapping has identified a linear band of volcanics adjacent to the southern contact of the Isabella granite. Detailed maps for
each area are shown in Figures 2 and 5.
Hualane
Isabella Oriental Detailed Map Area
The mapping has identified numerous structurally controlled quartz veins that are spatially associated with a leucogranite
phase of the Isabella granite. Previous sampling of the vei ns prior to Montero reported assays up to 0.56 g/t Au and 19 g/t
Ag. Two dominant quartz vein systems are identified; a 1.25 km long north-east trending vein array, and a 1 km long north-
south trending vein array. Individual quartz veins are up to 3 m in width. Mapping has also confirmed the extent of volcanic
rocks within the metasediments along the southern contact of the Isabella granite pluton. Quartz veins have been identified
within the volcanics and also in metasediment adjacent to the leucogranite and represent exploration targets for potential
Au-Ag mineralized quartz veins.
Figure 2: Geological map of the eastern part of the Isabella Oriental property block. The presence of extensive structurally-
controlled quartz veins was confirmed associated with leucogranite.
Docamavida Map Area
The Docamavida area is located south of the Mataquito river (Figure 1) and was the site of historical mining activit y.
Previous exploration prior to the acquisition by Montero i dentified abundant quartz boulders at surface and also quartz
veins within granitic rock (Figure 3). Reported assays of exposed veins range up t o 2.5 g/t Au and 12 g/t Ag with high
concentrations of arsenic of up to 3,000 ppm As. The Isabella veins to the nort h, in c ontrast, con tain very low As
concentration.
N
Figure 3: Above: Photos of vuggy quartz vein rubble found adjacent to historical mine pits in the Docamavida prospect area.
Below: Exposed quartz vein-breccia.
The quartz veins at Docamavida display massive to breccia texture s with evidence of repeated faulting along vein margins.
Individual veins are up to 2.5 m in width and up to 100 m in strike length. Veins have a lenticular morphology and form part
of a more extensive extensional vein system.
Mapping confirmed the presence of historical mine pits and expos ed quartz veins. The veins are controlled within north -
east structures and occur within a leucogranite similar to that described in the Isabella area to the north and also within
fault zones along the contact with metasediment inliers (Figure 4). Samples of quartz veins collected by Montero from a
fault zone assayed up to 0.69 g/t Au and 1,144 ppm As. The mapping also discovered an area of quartz tourmaline breccia
dykes in the southern part of the property for which samples collected by Montero assayed up to 1.4 g/t Au and 183 ppm
Bi. Montero will continue to evaluate areas of the Isabella properties as part of a district wide resource assessment.
Figure 4: Geological map (left) of the Docamavida prospect area showing distribution of quartz veins and mafic d ykes and
tourmaline breccia in the south p art of the prospect. Samples of quartz-tourmaline dyke rock (top rig ht) and quartz breccia
vein from fault zone adjacent to the metasediment inlier (lower right).
Summary
The detailed mapping provides for some important exploration assumptions. Based on the recent mapping the volcanic and
granite rocks defined at Isabe lla post-date f ormation of the Tri assic sediments. Both rock types are interpreted to have
developed during the Jurassic to Cretaceous per iods. Previous mapping by Munoz (1995) reported that similar volcanic s
near the town of Hualane to be of Upper Juras sic age and coeval with a series of small intermediate intrusive bodies that
occur within volcanics. As such, an assumed early to mid-Jurassic age for the volcani c linear mapped along the southern
contact at Isabella is consistent with the Munoz interpretation.
The interpretation of a roof pendant of meta-sediments and volcanics within the leucogranite in Isabella Oriental indicates
the granite pluton to be young er than both rock types . Field relationships also suggest the leucogranite phase formed
within an upper part of the granite pluton and could be a younger, more differentiated phase of the Isabella granite. The
spatial association of Au-Ag mineralized quartz veins with intermediate-felsic intrusive and volc anics of Jurassic to later
Cretaceous age have been documente d in the Talc a area to the south-east where the Chepica Au-Ag-Cu mine occurs and
also to the north near Rancagua where Yamana operates the Minera Florida mine. These observations indicate that further
exploration is warranted in the Isabella district which has similar geological features.
Qualified Person Statement
This press release was reviewed and approve d by Mr. Mik e Eva ns, M.Sc. P r. Sci. Nat., who is a qual ified person fo r the
purpose of National Instrument 43-101 and a Consulting Geologist to Montero. A review was also undertaken by Sr. Marcial
Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical
advisor to Montero. Sr. Vergara has extensive experience in gold exploration in Chile.
About Montero
Montero is a juni or exploration company focused on finding, exploring, and advancing glo bally significant gold deposits in
Chile. The Company i s in the proces s of relinquis hing its portfolio of b attery metal projec ts in Afr ica to foc us on g old
opportunities in Chile. Monte ro’s board of dire ctors and management have an impressive track record of successfu lly
discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON
and has 38,647,485 shares outstanding.
For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: [email protected] Tel: +1 416 840 9197 | Fax: +1 866 688 4671 www.monteromining.com
Neither TSX Ventu re Exchange nor i ts Regulation Se rvices Provider (a s that te rm i s defined in th e po licies of the TSX Ven ture Exchange) ac cepts
responsibility for the adequacy or accuracy of this release.
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