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Montero completes mapping and sampling at its Avispa Copper Molybdenum Project

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Global Mining Review,

Montero Mining and Exploration Ltd. 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 approximately 40 km’s west of the supergiant Chuquicamata copper molybdenum porphyry deposit.

Chuquicamata produced 319 280 t of copper and 16 000 t 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.

Dr. Tony Harwood, President and Chief Executive Officer of Montero, comments:

“Montero now controls a 182 square mile area in the same geological setting as Spence and Sierra Gorda copper molybdenum mines and is 40 km’s west of the supergiant Chuquicamata porphyry deposit, the largest open pit copper molybdenum mine in the world. Within the Avispa claims area significant historical drill campaigns were carried out by BHP and Quantum Pacific Chile and Montero’s initial sampling and mapping campaigns were designed to build on their combined efforts. Avispa is being investigated to assess the potential to host a significant copper molybdenum porphyry deposit and also assess its lithium, iodine, and nitrate mineral potential.”

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Copper mining news South American mining news