Montero Identifies Coherent Deep Porphyry Targets at Elvira Gold Project from Geochemical Vector Modelling

The most recent news (March 26, 2026) reports the results of independent geochemical vector modelling at the Elvira gold project in Chile. Using 38 rock samples and industry-standard zonation models (Cohen and Halley), the company identified two coincident deep porphyry-style targets (EL-FG-01C and EL-FG-01H). These targets sit beneath known surface alteration and coincide with previously identified geophysical anomalies. This follows the March 24 news confirming a large hydrothermal system with epithermal and porphyry characteristics, and the March 18 news identifying a 700m x 600m prospective exploration corridor.

The news is Routine - Positive. While the identification of "coherent deep porphyry targets" sounds significant, it is the logical and expected progression of the data integration strategy announced earlier in the month. The company is currently in a "data-heavy/drill-light" phase, using AI and geochemical modelling to refine targets. While these results increase the geological confidence in the Elvira project, they do not yet represent a discovery. The material impact is limited until these targets are tested with a diamond drill bit. The transition from a cash-rich shell (post-Tanzania settlement) to an active explorer is proceeding as planned, but the market is waiting for a definitive drilling commitment.

Montero is a junior explorer that recently pivoted to Chile after receiving a US$27M settlement from the Tanzanian government for the expropriation of the Wigu Hill project. - Flagship Project: Elvira Gold Project (Maricunga Belt, Chile). - Secondary Project: Potrero Gold Project. - Characteristics: Both are high-sulphidation epithermal systems with potential for underlying gold-copper porphyries. Elvira has historical intercepts of 39m @ 0.66 g/t Au.