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Monterey Minerals: Ten Hole Diamond Drilling Program Completed at Alicia High-Grade Gold Project
TORONTO, ON / ACCESSWIRE / January 13, 2021 / Monterey Minerals Inc. (the "Company" or "Monterey") (CSE:MREY )(FSE:2DK) is pleased to announce that the Company
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[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / January 13, 2021 / Monterey Minerals Inc. (the \"Company\" or \"Monterey\") (CSE:MREY )(FSE:2DK) is pleased to announce that the Company has completed the previously announced ten (10) hole diamond drilling program (see press release dated October 7, 2020) at its wholly-owned Alicia high-grade gold and base metals project in the Philippines (\"Alicia Project\"). Highlights: Monterey's diamond drilling program at the Alicia Project was completed in December 2020 (see Figure 1). The drilling program consisted of 10 diamond holes for a total of 2,074 metres. Preliminary geological interpretations of the drilling results, have confirmed the targeted epithermal style vein structures have been intersected in all holes. Assay results are expected in Q1 2021 Figure 1: Plan View of Alicia Project showing location of 2020 drilling and historic sampling results The ten-hole diamond drilling program commenced on October 7, 2020 and 2,074 metres were completed in December 2020. The depth of the holes ranged from the first hole, which was 150 metres in length to the hole number 6, which was 318.8 metres in length with the average length being just over 200 metres. Monterey's primary focus was to test the along strike and down dip potential of the Alicia epithermal vein system. The program targeted three veins (Pamaraw, Baloy and Sandi) and also included the discovery of a new vein (the Toto Vein) on the property. Alicia now hosts eleven veins that have been discovered at the project to date. The target model for the Alicia Project, is that of a multi vein epithermal deposit, located within the highly prospective \"boiling zone\" of the hydrothermal system. Recent drilling (Hole #10 - EX SV 019) also indicates (Figure 2) that there may be a degree of telescoping at the project. Telescoping in epithermal and porphyry copper systems occurs when there is a reduction in the volcanic surface throughout the formative life-span of the host volcano. This process is capable of superimposing or juxtaposing copper porphyry mineralization with the epithermal system. Figure 2: Chalcopyrite (copper sulphide) identified in Hole #10, hosted in brecciated silica alteration Monterey will outline plans for 2021, including further work at the Alicia Project to attempt to identify additional signs of telescoping of the system. Company g...