Mapping Confirms Copper – Molybdenum Porphyry Potential at Montero’s Avispa Project in northern Chile

TORONTO, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has completed initial geological mapping and geochemical sampling on its Avispa Copper Molybdenum Project in Chile. This work supports Montero’s belief the Avispa project area has been only cursorily explored for potential concealed copper molybdenum porphyry deposits beneath surficial sediments and gravels. Montero’s Avispa concessions cover a 473 km² area and are located ~40 km’s west of the supergiant Chuquicamata copper molybdenum porphyry deposit. Chuquicamata produced 319,280 tonnes (704 million pounds) of copper and 16,000 tonnes of molybdenum in 2020. Avispa is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and north of BHP’s Spence Cu-Mo mine and KGHM/South32’s Sierra Gorda Cu-Mo mine. Avispa is also only 20 km east of the extensive north-south trending Caliche Nitrate belt hosting the nearby Maria Elena and Pedro de Valdivia Nitrate-Iodine mines operated by SQM (Figure 1).

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