Montero Mining Advances Exploration at the Avispa Copper-Molybdenum Project in Chile

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[{"type":"text","content":" TORONTO, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V:MON) (“Montero” or the “Company”) has started a detailed field work program on its Avispa copper-molybdenum exploration concessions in Chile, following its successful completion of reconnaissance exploration on the property. The Avispa project covers 17,000-hectares (170 km2) in the Atacama Desert of northern Chile. It is situated within the well-defined north to south trending Paleocene-Eocene copper porphyry belt which hosts giant operating copper-molybdenum mines. Montero’s reconnaissance exploration work has shown extensive surface areas of Tertiary evaporites with intercalated sediments and gravels overlaying older volcanic and intrusive rocks that could potentially host the target copper-molybdenum deposits at Avispa. The reconnaissance exploration process involved a detailed investigation of historical geological, geophysical, remote sensing, hydro-geological and Landsat data, reconnaissance mapping and sampling of the Avispa project area. The work has provided a basis for Montero’s Phase One field exploration program that will include detailed geological mapping, drill chip sampling at previous drill sites, surface lithological sampling and geophysical surveys. The Company will use the information obtained in this phase to develop drilling targets with the aid of innovative exploration technology. The prospective porphyry target geology of the Avispa project lies below a sequence of cover rocks consisting of gravels and fine-grained clastic sediments intercalated with evaporite deposits of Tertiary age. The target lithologies are the underlying Paleogene volcanic, Cretaceous monzodiorite, and diorite porphyry rocks (Figure 1). Avispa is located approximately 40 km north of BHP’s Spence copper-molybdenum mine and KGHM’s Sierra Gorda copper-molybdenum mine. It is 50 km west of Codelco’s massive Chuquicamata porphyry copper mine. The property is surrounded by exploration and mining concessions held by major mining companies, including Codelco in the north and Freeport and Glencor to the south, with Antofagasta and SQM exploring to the east and west, respectively (Figure 2). The Avispa district was previously the target of wide-spaced exploration drilling by BHP and other major mining companies but they only explored part of Montero’s Avis...

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