Montero Completes Drilling of Target A at The Isabella Gold Silver Project in Chile
Montero Completes Drilling of Target A
at The Isabella Gold Silver Project in Chile
Toronto, Ontario – February 2, 20 21 – Montero Mining and Exploration Ltd. (TSX-V: M ON) (“Montero” or the
“Company”) has completed 1,096 m of a planned 2,800 m diamond drill program at its Isabell a Gold Silver Project
(“Isabella”) in Chile. At Isabella 2, 600 m of drilling is planned to test gold silver mineralization within 4 separate ve in
targets and 200 m to test for breccia -type base -metal mineralization in sedimen ts adjacent to the granite contact .
Drilling is now complete at Target A and the drill rig has been moved to Target C where 2 holes will be completed
before moving to Target B and Target D. Target A drill core is being logged and is being dispatched for assay once core
logging is compl eted. Drilling is be ing carried out by Mountain Drilling Limitada based in La Serena, Chile , and to
adhere to Covid-19 safety protocols, have set up a camp at site to reduce interaction with the local community.
Dr Tony Harwood, President o f Montero commented : “The maiden drill program at Isabella has progressed well with
drilling completed at Target A intercepting quartz veins with visib le sulphides in all holes. The drill rig has be en moved
to Target C where 2 drill holes will test below a series of northeast trending quartz veins exposed and historically mined
pits where surface sampling returned up to 48 g/t Au and 263 g/t Ag.”
Figure 1: Location map showing 4 vein drill target areas hosted over 25 km strike length at Isabella.
Target A - Isabella West Drilling
The Company completed the planned 10 diamond drill holes for a total of 1,096 m. Drilling tested a series of
northwest-trending quartz veins along approximately 600 m of strike length at a 25-50 m vertical depth (Figure 2).
Montero geologists report that quartz veins with visible sulphides have been intersected in all drill holes (Figure 3
and Figure 4). The drill core is HQ diameter and is being logged and cu t for sampling by Montero geologists at the
company facility in the village of Hualane . Selected intervals of quartz veins and altered granite host -rock have been
half-core sampled at 1 m intervals for assay with eac h batch of 25 samples to include 1 certi fied reference standard
and a sample blank. The samples are being hand delivered by Montero p ersonnel to the Andes Analytical Assay lab
in Santiago for assay.
Figure 2: Location of Isabella drill holes 1 through 10 Target A.
Figure 3: Core Box for Hole ISB20-1 from 24.5 m to 29.1 m Figure 4: Disseminated sulphides within quartz
showing quartz vein and intensely altered and brecciated vein intersected in hole ISB20-3.
leucocratic granite wallrock. Each core box row is 50 cm in
length.
Table 1: Target A Drill Hole Collar Details (PSAD56-19S datum).
Qualified Person Statement
This press release was reviewed and approved by Mr. Mike Evans, M.Sc. P r. 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 Sr.
Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of Nation al Instrument 43-101 and
a technical advisor to Montero. Sr. Vergara is directly supervising all parts of the drill program. Sr. Vergara has extensive
experience in gold exploration in Chile.
About Montero
Montero is a junior exploration company focused on f inding, exploring, and advancing globally significant gold
deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Afr ica to
focus on gold opportunities in Chile. Montero’s board of director s and ma nagement have an impressive track record
of successfully 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 Venture Exchange nor i ts Regulation Services Provider (as th at 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 me aning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projec tions and
estimates. Generally, forward-looking information can be identified by the use of forward -looking terminology such as “plans”, “expects” or “does
not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates ” or “ does not anticipate”, or “believes”, or
variations of such words and ph rases or state that certain actions, e vents or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or
“be achieved”. Such information is based on information curr ently available to Montero and Montero pro vides no assurance that actual results will
meet management's expectation s. Forwa rd-looking information by its very nature involves inherent risks and uncertainties that may cause the
actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-
looking information. Actual results relating to, among other things, completion of the HOA, results of exploration, project development, reclamation
and capital costs of Montero’ s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in
such statements for many reasons such as: an inability to complete the HOA on the terms as an nounced or at all; changes in general econ omic
conditions and conditions in t he financial markets; changes in deman d and pr ices for minerals; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; tec hnological and operational difficulties en countered in connection with Monter o’s
activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that
may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not
place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance
with applicable securities laws.