Independent geochemical modeling identifies a Cu-Mo porphyry target at the Avispa project in Montero, Chile.Canadian Business Journal

TORONTO, September 27, 2022 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or “Company) has received a positive report from Fathom Geophysics (“Fathom”) from its analysis of geochemical data on the Avispa property. The report, entitled 3D Footprint Modeling at Avispa, generated a 3D conceptual target showing potential locations of porphyry copper-molybdenum mineralization at depth.

Company geologists collected a pile of reverse circulation (RC) drill chips from a drilling site believed to have been completed on the Avispa site by BHP and Quantum Pacific Exploration Chile (“Quantum”) (Figure 1). Some samples returned anomalous copper (> 100 ppm Cu) and molybdenum (> 10 ppm Mo) values ​​as previously reported (PR138 08/23/2022) (Figure 2) . Avispa is located 40 km west of the Chuquicamata copper porphyry deposits, within a defined north-south trending Paleocene-Eocene Cu-Mo porphyry zone and is located between BHP’s Spence Cu-Mo mine and the KGHM/ Located 40 km north of Sierra Gorda Cu on South32. -Mo mine.

A drilling tip geochemical dataset from a region of closely spaced boreholes was analyzed by Fathom using proprietary software that compares it to an idealized model of the mineralized porphyry system. The results show significant matching targets modeled under the central portion of the processed region (Figure 3). Targeting success has led us to use fathom analysis in other areas of Avispa’s assets. RC borehole samples from the rest of the property and lithological samples from the San Salvador River Valley provide additional datasets for analysis by Fathom. Fathom’s analysis has been used to identify existing porphyry mineralization systems at depths such as those investigated by his Solgold in Ecuador (Solgold, 13 August 2020).

Montero President and Chief Executive Officer Dr. Tony Harwood commented: “Independent modeling performed using Fathom’s proprietary processing technology on geochemical samples taken from drill tip piles on the surface of the earth produced significant copper-molybdenum drill target areas at depth. , is being investigated for the potential to host important copper-molybdenum porphyry deposits near deep and other near-surface deposits.We continue to evaluate other areas of the property.”

Figure 1: Location map of sampling sites for BHP (red) and Quantum (yellow) RC drill tips. Available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ab52c621-d2c1-4b9f-bc62-dd07b071c1b7

Figure 2: Location map of anomalous Cu and Mo from the RC drill tip sampling program. Available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f181c40-fe39-40e4-af16-40553197bf6d

The Fathom study was commissioned to leverage a uniquely crafted, model-driven approach targeting porphyry and associated mineralization. Fathom’s modeling results show significant and consistent 3D porphyry mineralization targets, as shown in Fig. 3.

Figure 3: Plan view of the isosurface result of the Cu Mo porphyry target produced by Avispa’s Fathom. Available at https://www.globenewswire.com/NewsRoom/AttachmentNg/18806b0f-05de-4a20-98d5-836b0906673e

We are evaluating other targets at Avispa along with Fathom to define potential porphyry drill targets. The results of this work are expected in Q4 2022 and will be integrated into the drill targeting program.

About Fathom Geophysics

Fathom provides geophysical and earth science data processing and targeting services to the minerals and petroleum exploration industry from regional scale to near-mine deposit scale. Fathom offers automated data processing, automated exploration targeting, and the ability to customize data processing applications. Fathom’s automated processes are augmented by geoscience expertise drawn from in-house staff and details provided by project clients.

Qualified person statement
This press release was reviewed and approved by Mike Evans, M.Sc. Pr.Sci.Nat. and Sr. Marcial Vergara B.Sc. Geologist who is a qualified person for purposes of National Instrument 43-101. Sr Vergara is based in Santiago and has over 30 years of copper exploration experience in Chile.

About Montero
Montero is a junior exploration company focused on the discovery, exploration and advancement of globally important gold, silver and base metal deposits in Chile. Montero’s board and management team have an impressive track record of successfully discovering and advancing precious metals and copper projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, please contact:
Montero Mining and Exploration Limited
Dr. Tony HarwoodPresident and Chief Executive Officer
Email: [email protected]

Phone: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.com

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Cautionary note regarding forward-looking information: This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements, forecasts and estimates regarding the reverse stock split. Forward-looking information is generally disclosed using forward-looking terms such as “plans,” “expects,” “does not expect,” “expects,” “budget,” “planned,” and “estimate.” can be identified using “predict,” “intend,” “predict,” “do not predict,” or “believe,” or variations of such words or phrases, or that a particular action, event, or outcome “may” ‘, ‘could’, ‘could’, ‘could’, ‘may’ or ‘obtained’, ‘occurred’ or ‘achieved’. Such information is based on information currently available to Montero and Montero does not provide any assurance that actual results will meet management’s expectations. Forward-looking information, by its nature, could cause Montero’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. It involves inherent risks and uncertainties. Actual results regarding, among other things, contract completion, exploration results, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects are currently not anticipated in such statements for a number of reasons, including: It may differ significantly from what is presented. as: Unable to complete agreement on announced terms, or unable to agree at all. changes in general economic and financial market conditions; changes in mineral demand and prices; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; Technical and operational problems encountered in connection with Montero activities. Other matters discussed in this news release and filings with securities regulators. This list is not an exhaustive list of factors that may affect Montero’s forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on forward-looking information. Montero does not undertake to update forward-looking information, except in accordance with applicable securities laws.

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