viewMontero Mining and Exploration Ltd

Montero Mining and Exploration boosts lithium portfolio with new exploration licenses in Chile

The new licenses lie between the Salar de Atacama and the coastal range in northern Chile

Pictured is a landscape in the Atacama desert

Montero Mining and Exploration Ltd (CVE:MON) has boosted its lithium portfolio - with the award of exploration licenses known as the Avispa project in the Atacama desert of northern Chile.

The new licenses lie between the Salar de Atacama and the coastal range in northern Chile and could host a new lithium discovery.

READ THE BIG PIC: Montero Mining adds Chilean upside to existing lithium portfolio

"Montero has been awarded exploration licenses covering 13,800 hectares targeting a potentially new discovery of lithium mineralization in the Atacama Desert of northern Chile," said Montero president and CEO Dr Tony Harwood.

Lithium values of up 517 ppm (parts per million) and iodine values of up to 852 ppm are reported from reconnaissance sampling in the license area, with anomalous values of potassium and sodium nitrates, Montero noted.

"Montero has undertaken confirmatory and reconnaissance sampling over the license area and will provide further updates as results are obtained," said Harwood.

"The project adds to our portfolio of lithium projects in good mining jurisdictions. Chile is one of the foremost mining jurisdictions and a major source of global lithium supply."

Montero told investors it had inked a binding agreement with a private geological consortium (the founders), which has developed specialized concepts to explore unique lithium bearing deposits in specific target areas of the northern Atacama Desert.

Montero has 15 months to complete due diligence sampling program to its satisfaction and once completed, the founders shall be granted a 1.5% net smelter royalty (NSR) and $100,000 shares in Montero.

If Montero has enough confidence that sufficient grade material can be mined and processed economically, the founders shall be granted a further $600,000 Montero shares.

Shares in Toronto were unchanged at $0.08.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Montero Mining and Exploration Ltd

Price: 0.16 CAD

Market: TSX-V
Market Cap: $3.5 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Montero Mining and Exploration Ltd named herein, including the promotion by the Company of Montero Mining and Exploration Ltd in any Content on...


Montero Mining has exciting projects looking for lithium and Tin in Chile...

Montero Mining (CVE:MON) President and CEO Tony Harwood joined Steve Darling from Proactive Investors on Skype from South Africa to share news the company has Filed a resource estimate for their Lithium project in Namibia. Harwood sharing the. Numbers and what the next step will be on that...

on 03/13/2019

2 min read