Independent Geochemical Modelling Identifies Cu-Mo Porphyry Target at Montero’s Avispa Project in Chile
Independent Geochemical Modelling Identifies Cu-Mo Porphyry Target
at Montero’s Avispa Project in Chile
Toronto, Ontario – September 27, 2022 – Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the
“Company”) has received a positive report from Fathom Geophysics (“Fathom”) from the analysis of geochemical
data on the Avispa property. The report entitled “3D footprint Modelling at Avispa” has generated a 3D conceptual
target indicating the possible location of porphyry copper molybdenum mineralization at depth.
Company geologists collected reverse circulation (RC) drill chip piles from drilling sites believed to have been
completed by BHP and Quantum Pacific Exploration Chile (“Quantum”) on the Avispa property (Figure 1). Some
samples returned anomalous copper (>100 ppm Cu) and molybdenum (> 10 ppm Mo) values as previously reported
(PR138 August 23, 2022 ) (Figure 2) . Avispa is located 40 km to the west of the Chuquicamata copper porphyry
deposit and is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and 40 km
north of BHP’s Spence Cu-Mo mine and KGHM/South32’s Sierra Gorda Cu-Mo mine.
The drilling chip geo chemical dataset from an area of close spaced drill holes was analysed by Fathom using
proprietary software comparing it to idealised models of mineralized porphyry systems. The results show a
significant coincident target modelled under the central part of the area that was processed (Figure 3). The success
of the targeting has encouraged the Company to use the Fathom analysis on other areas of the Avispa property .
RC d rill hol e samples obtained from the rest of the property and lithological samples obtained from the San
Salvador River valley provide an additional dataset for analysis by Fathom. Fathom’s analysis has been successfully
used to identify existing porphyry mineralization systems at depth such those explored by Solgold in Ecuador
(Solgold,13 August, 2020).
Dr. Tony Harwood, President and Chief Executive Officer of Montero commented : “Independent modelling carried
out using Fathom’s proprietary processing technology on geochemical samples, taken from drill chip piles at surface,
have generated a significant copper molybdenum drill target area at depth. Avispa is being investigated for its
potential to host a significant copper molybdenum porphyry deposit at depth and near other near surface deposits.
The Company continues to evaluate other areas on the Property. ”
Figure 1: Location map of BHP (red) and Quantum (yellow) RC drill chip sampling sites.
Figure 2: Location map of anomalous Cu and Mo from RC drill chip sampling program.
The Fathom study was commissioned to take advantage of an independently produced, model driven approach to
targeting porphyries and associated mineralization. The results of Fathom’s modeling show a significant and
coincident three-dimensional porphyry mineralization target as shown in Figure 3 . The Fathom report states that
this target scores high enough to merit follow -up work.
Figure 3: Plan image of the iso-surface results of Cu Mo porphyry target generated by Fathom at Avispa.
The Company is evaluating other targets at Avispa with Fathom to define potential porphyry drill targets. The results
of this work are expected in Quarter 4, 2022 and will be integrated into a drill targeting program.
About Fathom Geophysics
Fathom provides geophysical and geoscience data processing and targeting services to the minerals and petroleum
exploration industries, from the regional scale through to the near -mine deposit scale. Fathom offers automated
data processing, automated exploration targeting, and the ability to tailor -make data processing applicat ions.
Fathom’s automated processing is augmented by expert geoscience knowledge drawn from in-house staff and from
details relayed by project clients.
Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc.
Geology who are qualified persons for the purpose of National Instrument 43 -101. Sr Vergara is based in Santiago
and has more than 30 years’ experience in copper exploration experience in Chile .
About Montero
Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold, silver,
and base metal deposits in Chile. Montero’s board of directors and management have an impressive track record of
successfully discovering a nd advancing precious metal and copper 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
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responsibility for the adequacy or accuracy of this release.
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