Montero Mining and Exploration Ltd V.MON

News out

[Miner69]

Toronto, Ontario – October 19, 2020 – Montero Mining and Exploration Ltd. (TSX-V: MON) has completed its first exploration campaign at the Isabella Gold Project in the Southern Coastal Range of Chile. Isabella is located approximately 200 km south of Santiago and is situated at approximately 500 m elevation (see Figure 1). 

Figure 1: Isabella Property Location Map 

Montero recently completed the purchase of a 100 % interest in a Chilean corporation (“ChileCo”) that holds the mining rights to the Isabella Gold Project. The most recent sampling program was carried out to verify types and styles of mineralization and confirm prior assay results.  The program consisted of chip sampling of selected exposed quartz veins previously sampled by ChileCo. Based on a positive review of the Montero and previous sample assay results and field observations, Montero intends to complete an initial drill program on 4 high grade Au-Ag priority vein targets; Target Areas A, B, C & D are permitted for drilling (see Figure 2).

Figure 2: Location of Priority Drill Target Areas

Montero Verification Sample Program

From September 20-26^th 2020, Montero collected twenty-two (22) chip samples across selected quartz veins from the 4 priority target areas and submitted them for assay to Andes Analytical Assay Ltda. in Santiago. Table 1A lists Montero’s results and Table 1B lists ChileCo results from the same target areas. Montero sampling confirms the results obtained from ChileCo’s prior sampling.

“Montero has successfully completed its initial sampling program at the Isabella gold project.” commented Dr. Tony Harwood, President of Montero. “Montero was able to repeat similar assay results and confirm styles of mineralization as previously reported. Our next step is to drill test the four vein target areas.”
 
Qualified Person
This press release was reviewed and approved by Sr. Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical advisor to Montero. Mr. Vergara has visited the property and reviewed previous sampling techniques and analysis and supervised Montero sample collection and analyses. Sr. Vergara has extensive experience in gold exploration in Chile.

About Montero

Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Chile. Montero’s board of directors and management 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 21,880,818 shares outstanding.

 
For more information, contact:
Montero Mining and Exploration Ltd. 
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: [e-mail]       
Tel: [phone]| Fax: [phone]
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.