Montero Channel Sampling Returns 14 Metres of 1.93% Lithium Oxide at the Soris Lithium Project IN Namibia
MONTERO CHANNEL SAMPLING RETURNS 14 METRES OF 1.93% LITHIUM OXIDE
AT THE SORIS LITHIUM PROJECT IN NAMIBIA
Toronto, Ontario – November 1 6, 2017 – Montero Mining and Exploration Ltd. (TSX-V: MON) has completed an
initial channel sampling program at the Soris Lithium Project in central Namibia which returned an average lithium
grade of 0.76% Li2O with values up to 3.66 % Li 2O from all channel samples. The best result from channel sampling
returned 14 metres of 1.93% Li 2O. The channel sampling program was designed to test lithium bearing spodumene
mineralization in a number of pegmatites on the property where prior operators mined for tantalum and tin and
did not test the lithium potential of the property.
On October 24, 2017, Montero entered into an agre ement and is currently in a legal and technical due diligence
period whereby Montero may at any time elect to acquire an 80% interest in the Property by committing to
spending C$1 million and completing a feasibility study within 3 years of transfer of the mining rights to Montero.
Montero is awaiting mineralogical sample analysis and lithium assay results of RC chips from a pr ior drill program
before electing to acquire an 80% interest.
A total of 4 channel sample traverses where collected as representative sections of the pegmatite mineralization
along approximately a 2.4 km strike length. Channel samples were taken every 1 metre across the exposed and
accessible portions of the pegmatite with a total of 53 samples submitted for full chemical analysis to SGS
Laboratories in Johannesburg, South Africa.
Channel sample results returned lithium values up to 3.66 % Li2O, tantalum values up to 1,917ppm Ta 2O5 and tin
values up to 12,696ppm SnO2. The samples within the selected channels are representative of t hose channels but
may not necessarily be representative of the overall mineralization hosted in the pegmatites on the property.
Spodumene has been identified as the major lithium bearing mineral. Results from channel sampling were
returned as follows:
RESULTS OF THE CHANNEL SAMPLING PROGRAM
Channel Width in Lithium a Tantalum b Tin c
Location Metres Li2O % Ta2O5 ppm SnO2 ppm
NC1 16 0.68 112 3812
CC1 5 0.13 120 1405
MC1 14 1.93 155 689
SC1 6 0.03 793 401
a. Li2O obtained by conversion factor of 2.153
b. Ta2O5 obtained by conversion factor of 1.2211
c. SnO2 obtained by conversion factor of 1.2696
Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “ Montero’s first channel
sampling program has confirmed lithium, tantalum and tin mineralization over a 2.4 km strike length of
exposed pegmatite . Channel MC1 returned 14m at an average grade of 1.93 % Li2O where the best
individual sample assayed 3.66% Li2O. Montero’s primary interest at Soris is to test the lithium content of
the spodumene bearing pegmatites to esta blish a lithium resource. Pr ior operators never tested for
lithium. Initial Lithium a ssay results from prior op erator RC drill holes are expected shortly which will
provide Montero an understanding of the lithium p otential in a third dimension. These, along with
mineralogical test results designed to understand metallurgy , will enable Montero to decide whether to
proceed with trying to define a lithium resource.”
The lithium, tantalum and tin values from Channel MC1 and Channel NC1 returned the best lithium values. The
width of exposed pegmatite at Channel MC1 is 24m and Channel NC1 is 16m although all the pegmatite was not
necessarily sampled due to surface rubble . Nico Scholtz Pr.Sci.Nat. carried out the chann el sampling program for
Montero and the locations are outlined below.
MAP SHOWING LOCATION OF PEGMATITE AND CHANNEL SAMPLES
The Soris Lithium Project is in central Namibia , north west of the town Uis which is 220km north of Walvis Bay,
Namibia’s largest commercial deep -water port. The project is in the Erongo Region and is connected by dirt and
asphalt road to the port of Walvis Bay.
The zoned pegmatites at the Soris Lithium Project belong to a group of highly fractionated, tantalite -cassiterite,
lithium-rich rare metal pegmatites known as Lithium -Cesium-Tantalum (LCT) pegmatite s. The Soris pegmatites
were previously mined on a small scale for tin and tantalum (Diehl, 1992). The pegmatite has not been mined or
systematically sampled or assayed for lithium.
SPODUMENE MINERALIZATION (OUTLINED IN RED) FROM MAIN WORKING AT SORIS
The pegmatites at Soris have narrow border-zone comprised of fine to medium grained feldspar -quartz-muscovite
rock, succeeded inwards by a narrow similar wall-zone. Inwards from here, the pegmatite is a mixture of feldspar,
quartz, spodumene and green muscovite. The pegmatite contains spodumene throughout this internal zone
varying in volume from about 10 % to >30 % of the pegmatite. The spodumene occurs as coarse -grained large
prismatic crystals up to 0.8 m in length and as smaller plat e-like crystals 1 cm in length. The crystals are randomly
arranged in a matrix of variably coarse -grained microcline and albite feldspars. The spodumene is pale green to
white or grey in colour.
Lithium assay results from a previous 31-hole RC drill program as well as mineralogical analysis from samples taken
are yet to be received.
Qualified Person's Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr.Sci.Nat., who is a qualified person for
the purpose of National Instrument 43 -101 and a Consulting Geologist to Montero. A review was also undertaken
by Nico Scholtz, Pr.Sci.Nat., a qualified person for the purpose of National Instrument 43 -101 and has extensive
experience in rare metal pegmatite exploration and Lithium-Cesium-Tantalum (LCT) pegmatites.
About Montero
Montero is a mineral exploration and development company engaged in the identification, acquisition, evaluation
and exploration of mineral properties in A frica. Currently these include Lithium, Tantalum and Tin in Namibia,
Phosphates in South Africa and Rare Earth Elements (REE) in Tanzania. Montero is reviewing and evaluating other
opportunities from its operating base in South Africa. Montero trades on th e TSX Venture Exchange under the
symbol MON.
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 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.
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