Montero Strengthens Avispa Copper-Molybdenum Project Land Position in Northern Chile
Montero expands its exploration footprint in Chile's copper belt through land consolidation at the Avispa project.
Montero Mining and Exploration Ltd. announced a strategic consolidation and expansion of its mineral tenure at the 100%-owned Avispa Copper-Molybdenum Project in northern Chile. The company rationalized its overall concession holdings by reducing the total area by approximately 1,350 hectares while advancing 33 concessions through the exploitation application process.
Significant expansion occurred at the Abeja concession group, increasing the portfolio from 34 to 47 concessions and expanding the area from approximately 9,600 to 13,090 hectares. The Avispa Project now comprises 81 mineral concessions and applications, consisting of 50 exploitation concessions/applications and 31 exploration concessions/applications.
Future plans include integrating geological, geochemical, and historical data with geophysical datasets to identify and prioritize targets for future drilling. The Qualified Person for the technical information is Mr. Marcial Vergara, an independent consulting geologist.
Montero Mining and Exploration Ltd. (MON) has issued an administrative update regarding its land position, consolidating concessions and advancing them to exploitation status. This move expands the company’s contiguous footprint over prospective porphyry copper-molybdenum ground within the Abeja group, supporting long-term exploration potential without immediately altering the company's financial position or near-term exploration timeline.
The update does not disclose new drill results, financing, or material cost changes. It aligns with the company's stated strategy of maintaining concessions in good standing while focusing active exploration on the Elvira and Potrero gold projects.
Montero Mining and Exploration Ltd. is a junior exploration company focused on copper and gold projects in Chile's Maricunga Belt and the Palaeocene-Eocene copper-molybdenum belt. Its flagship projects include the 100%-owned Avispa Copper-Molybdenum Project, as well as the Elvira and Potrero Gold Projects, which are held under option agreements with a path to 100% acquisition. The company is in the pre-discovery exploration stage, utilizing integrated geological, geochemical, geophysical, and AI-assisted modeling to define drill targets. No mineral resources or reserves have been defined to date.