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Montero rises after citing significant lithium and tin resource estimate in Namibia

The statement showed a total inferred mineral resource of 14.4 million tonnes at 0.37% lithium superoxide and 17.1 million tonnes at 0.05% tin oxide

A map of Namibia
Further in-fill drilling is needed at the Namibia project, Montero says

Montero Mining and Exploration Ltd (CVE:MON) climbed Tuesday as its maiden resource estimate at the Uis tailings project in Namibia suggested significant lithium and tin material.

The explorer said in a statement the estimate, filed with SEDAR, showed a total inferred mineral resource of 14.4 million tonnes at 0.37% lithium superoxide and 17.1 million tonnes at 0.05% tin oxide. The resource estimate is based on the preliminary drilling program of 63 air core drill holes on the coarse and fine tailings waste material.

Shares of the company climbed C$0.01, or 11%, to C$0.10 in Tuesday’s Canadian trading.

READ: Montero Mining & Exploration stock almost doubles on news of lithium discovery in Chile

The estimate is encouraging because it supports the presence of a lithium and tin material that test work has shown to be amenable to extraction, according to the company.

“Further in-fill drilling and metallurgical test work will be required to upgrade the inferred resource to an indicated resource,” Montero CEO Tony Harwood said in a statement. “Montero is evaluating early production scenarios with potential partners in order to meet expected demand with the growth of electric vehicles and battery metals requirements.”

The three categories of minerals resources are inferred, indicated and measured, in order of increasing confidence.

Last month, shares of Montero almost doubled as it announced a lithium discovery at the Avispa property in northern Chile.

Contact Dennis Fitzgerald at [email protected]














Contact Dennis Fitzgerald at [email protected]

Quick facts: Montero Mining and Exploration Ltd

Price: 0.16 CAD

TSX-V:MON
Market: TSX-V
Market Cap: $3.5 m
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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