Monterey Minerals Completes Purchase of 100% interest in polymetallic Cobalt Mountain Project in BC
Monterey Minerals Completes Purchase of 100% interest in
polymetallic Cobalt Mountain Project in BC
TORONTO, ON - February 21, 2019 - Monterey Minerals Inc. (the “Company” or “ Monterey”)
(CSE: MREY, FSE: 2DK ) is pleased to announce that has completed the purchase of the Cobalt
Mountain Project and now owns a 100% undivided interest in the property.
President and CEO, James Macintosh stated “We are excited about the opportunity presented
by the Cobalt Mountain Project. The Company is currently reviewing its exploration plans for
the project for the remainder of 2019. We believe that after an in-depth review of the historic
data on the whol e property, by ground geophysics and systematic exploration could identify
potential polymetallic porphyry targets.”
This 4,921 hectare (12,160 acre) polymetallic project is located in the Omineca Mining Division
of Northwest British Columbia, near Smithers, BC. As per the Option Agreement with the
Vendors, detailed in the Company’s NI 43 -101 report dated January 10, 2019 ( “Jan. 2019 NI 43-
101”, www.montereyminerals.com and filed on the company’s SEDAR profil e), the Company
issued 1.8 million shares to the Vendors.
The following highlights work that was carried out in the fourth quarter of 2018 , as reported in
Jan. 2019 NI 43-101 report on Cobalt Mountain:
• The program outlined multiple copper (“Cu”) anomalies in both soil and talus fines
samples.
• Two areas in particular are:
o the Zante Zone with an area of highly anomalous copper 1,000 metres (“m”) x 200 m
with several samples over 1000 ppm Cu
o the Zante South Zone with a 400 m x 500 m Cu soil anomaly. Both areas have
partially overlapping Mo Anomalies.
• Both Zante Zones have partially overlapping Molybdenum (“Mo”) anomalies.
Previous operators identified multiple Cu /Mo/gold (“Au”) porphyry targets that were not
systematically followed up. These include the Corinth Zone – a high grade Cu /Au/silver (“Ag”)
zone which could be the possible extension of the historic Sultana Prospect and includes grab
samples of 1.5% Cu, 22.5 g/t Ag, and 5.75% Cu, 26 g/t Ag, 0.34 g/t Au.
Qualified Person
The technical information in this press release has been reviewed and approved by Scott Petsel,
P.Geo a Qualified Person as defined by National Instrument 43-101.
About Monterey Minerals Inc.
The Company owns 100% of the Cobalt Mountain Property (the “Property”) in the Omincea
Mining Division of British Columbia near the town of Smithers. The Company’s NI 43 -101, on
SEDAR, notes historic sampling on the Property that returned mineralized showings of gold,
silver, copper, zinc and cobalt. The Company’s business objective is to explore for copper,
cobalt and gold and to seek new properties that will increase shareholder value.
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 releas e 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 re sult of new
information, future events or results or otherwise, other than as required by applicable securities laws.