Montero Mining advances copper-molybdenum exploration in Chile

The Avispa project covers 17 000 ha. (170 km2) in the Atacama Desert of northern Chile. It is situated within the well-defined north to south trending Paleocene-Eocene copper porphyry belt, which hosts giant operating copper-molybdenum mines.

Montero’s reconnaissance exploration work has shown extensive surface areas of Tertiary evaporites, with intercalated sediments and gravels overlaying older volcanic and intrusive rocks, that could potentially host the target copper-molybdenum deposits at Avispa.

The reconnaissance exploration process involved a detailed investigation of historical geological, geophysical, remote sensing, hydro-geological and Landsat data, reconnaissance mapping, and sampling of the Avispa project area. The work has provided a basis for Montero’s Phase One field exploration programme that will include detailed geological mapping, drill chip sampling at previous drill sites, surface lithological sampling, and geophysical surveys. The company will use the information obtained in this phase to develop drilling targets with the aid of innovative exploration technology.

The prospective porphyry target geology of the Avispa project lies below a sequence of cover rocks consisting of gravels and fine-grained clastic sediments intercalated with evaporite deposits of Tertiary age. The target lithologies are the underlying Paleogene volcanic, Cretaceous monzodiorite, and diorite porphyry rocks.

Avispa is located approximately 40 km north of BHP’s Spence copper-molybdenum mine and KGHM’s Sierra Gorda copper-molybdenum mine. It is 50 km west of Codelco’s massive Chuquicamata porphyry copper mine. The property is surrounded by exploration and mining concessions held by major mining companies, including Codelco in the north and Freeport and Glencor to the south, with Antofagasta and SQM exploring to the east and west, respectively. The Avispa district was previously the target of wide-spaced exploration drilling by BHP and other major mining companies, but they only explored part of Montero’s Avispa property.

Dr Tony Harwood, President and CEO of Montero, comments:

“Montero’s 17 000 ha. landholding is clearly in the proximity and in the same geological setting as world-class operating copper-molybdenum mines. Our reconnaissance exploration has revealed positive detail on the geology, structure, geochemistry, and the location of previous drilling sites. The Phase One field exploration programme, now underway, will set out to discover mineralised copper-molybdenum deposits with smaller exploration footprints than that targeted by major mining groups.”

Read the article online at: https://www.globalminingreview.com/mining/19112021/montero-mining-advances-copper-molybdenum-exploration-in-chile/