Montero Terminates Isabella East Option Agreement
September 01 2021 - 9:28AM
Montero Mining and Exploration Ltd. (TSX-V: MON) has given notice
to terminate its option agreement over the Isabella East property
which previously made up part of its Isabella gold-silver project
in Chile. Assay results from 9 diamond drill holes (ISB20-11 to
ISB20-19) testing vein targets on the Isabella East concessions
were disappointing where no further work or property payments are
justified. The Company is continuing to explore its remaining 85%
and 100% owned Isabella exploration concessions which are only
subject to yearly maintenance payments.
The Isabella district is host to an extensive
system of mineralized quartz veins located at the granite sediment
contact. The quartz veins at surface are often associated with
elevated gold and silver values which also occur within sericite
and pyrite altered leucogranite. The Company is currently carrying
out additional mapping and sampling within the volcanic package on
the eastern portion of its concessions. The Company has elected to
abandon drill testing of the sedimentary target. The Company will
provide updates on the next phase of exploration as they become
available.
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.
About Montero Montero is a
junior exploration company focused on finding, exploring, and
advancing 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 38,647,485 shares outstanding.
For more information, contact:
Montero Mining and Exploration Ltd. Dr.
Tony Harwood, President and Chief Executive Officer
E-mail: ir@monteromining.com Tel: +1 416 840 9197 | Fax: +1 866 688
4671 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain "forward-looking
information" within the meaning of applicable Canadian securities
laws. Forward looking information includes, but is not limited to,
statements, projections, and estimates. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved”. Such information is
based on information currently available to Montero and Montero
provides no assurance that actual results will meet management's
expectations. Forward-looking information by its very nature
involves inherent risks and uncertainties that may cause the actual
results, level of activity, performance, or achievements of Montero
to be materially different from those expressed or implied by such
forward-looking information. Actual results relating to, among
other things, completion of the HOA, results of exploration,
project development, reclamation and capital costs of Montero’s
mineral properties, and financial condition and prospects, could
differ materially from those currently anticipated in such
statements for many reasons such as: an inability to complete the
HOA on the terms as announced or at all; changes in general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with Montero’s activities;
and other matters discussed in this news release and in filings
made with securities regulators. This list is not exhaustive of the
factors that may affect any of Montero’s forward-looking
statements. These and other factors should be considered carefully
and accordingly, readers should not place undue reliance on
forward-looking information. Montero does not undertake to update
any forward-looking information, except in accordance with
applicable securities laws.
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