Montero Drills 4.92% TREO Over 24.30m at the Nyati Target on the Wigu Hill Rare Earth Project, Tanzania
10 Abril 2012 - 8:15AM
Marketwired Canada
Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") announces the
results from 1,030m of drilling at the Lower Nyati Target upslope from the
Tumbili Target area, at the Wigu Hill Rare Earth Project in Tanzania. Recent
surface mapping has outlined a much larger mineralized target area at Nyati
(800m x1000m) where the full extent of the zone has yet to be drill tested.
Highlights of drill results returned to date are as follows:
-- Two continuous zones of mineralisation were encountered in boreholes
NYT001 and NYT005 as follows:
BH NYT001: 111.5m - 174m 62.5m @ 3.01% TREO
BH NYT005: 31.8m - 105m 73.2m @ 3.13% TREO (Including 4.92% over 24.30m)
(All widths listed are apparent widths, boreholes are as close as
possible to right angles to the strike of the carbonatites, except for
BH NYT004).
The return of consistent high-grade TREO values from carbonatite grab and panel
samples at the Nyati target (see news release 03/04/2012) has defined a large
mineralized zone. Follow up exploration drilling has further identified
extensive and continuous zones of rare earth mineralisation at Nyati. Geological
interpretations using the surface mapping and sampling described, and now
diamond drill hole geology and assays indicate that there is a strong potential
for the mineralized carbonatite dikes intersected to extend over a strike of
greater than 500m and at depth at Nyati.
Dr. Tony Harwood, President and Chief Executive Officer of Montero commented,
"Drilling at the Lower Nyati target has defined extensive zones of high grade
TREO mineralization where further drilling will be carried out to test the
balance of the Nyati target area. At Wigu Hill, Montero remains focused on
defining further high grade resources while metallurgical testwork is ongoing in
order to de-risk the project, targeting a fast track strategy to develop a low
cost process for the sale of rare earths.
To view drill hole sections and the geological interpretation please visit:
http://www.monteromining.com/projects/pdf/nyati-results.pdf
Borehole core drilling focused on two target zones identified from surface
mapping, namely the east-north-easterly trend (NYT001 to NYT003) and the
northerly trend (NYT004 and NYT005). The northern trend returned the most
encouraging results while all of the drill holes were successful in defining
continuous zones of mineralisation. When correlated with the trench geology,
assays and grab sample clusters it is possible to interpret significant zones of
potentially continuous mineralisation, within which the higher-grade zones of
mineralisation can be found, over strikes exceeding 500m.
A number of mineralised carbonatite dikes, some of which are over 20m wide, were
mapped at surface and targeted by drill hole NYT001 and successfully intersected
and confirmed steep dips of the dikes of around 75 degrees to the north. Similar
structures can be interpreted from drill hole NYT002 and NYT003 and a continuous
trend has been interpreted over a strike of 600m and a width at surface of 150m.
On the northerly trending dike structure, drill hole NYT005 intersected almost
continuous mineralisation from the surface down to an inclined depth of 105m an
average grade of 2.83% TREO and 1.96% SrO. The better mineralisation tied in
with the target zone at surface with steep dips of between 75 degrees to 80
degrees to the west. Drill hole NYT004 was drilled obliquely to the strike to
intersect the same zone and was successful, but with lower TREO grades. See
results below:
----------------------------------------------------------------------------
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Apparent
From To width TREO SrO
Bore Hole (metres) (metres) (metres) grade % grade %
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NYT001 111.50 174.00 62.50 3.01 1.81
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Including 111.50 140.50 28.95 2.45 1.62
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140.50 147.20 6.75 4.14 3.19
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147.20 155.50 8.30 6.36 2.28
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155.50 174.00 18.50 1.97 1.39
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171.00 174.00 3.00 4.83 4.06
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and 174.00 186.90 12.85 0.86 1.08
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NYT002 0 265.80 265.8 1.28 1.33
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Including 37.00 45.00 8.00 1.33 0.75
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45.00 73.10 28.10 2.33 1.46
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98.00 117.00 19.00 2.55 2.35
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181.00 194.00 13.00 3.16 1.75
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217.00 242.50 25.50 2.46 2.71
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242.50 265.80 23.30 1.02 1.26
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NYT003 4.00 12.50 8.50 3.34 0.83
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37.60 60.00 22.40 2.85 1.48
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71.50 116.00 44.50 1.95 2.31
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Including 97.60 116.00 18.45 2.48 2.94
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125.40 147.40 22.00 2.16 1.65
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152.90 162.90 10.00 1.87 0.85
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167.60 178.80 11.25 2.77 2.86
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193.80 205.80 12.00 2.17 1.88
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NYT004 21.00 30.00 9.00 6.58 1.11
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30.00 38.10 8.10 1.34 0.54
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52.10 64.40 12.30 1.68 0.65
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74.85 89.70 14.85 1.66 0.98
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128.40 138.75 10.35 1.97 2.25
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NYT005 0 105.00 105.00 2.83 1.96
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Including 80.70 105.00 24.30 4.92 4.14
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Including 81.70 84.70 3.00 8.71 10.37
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93.20 102.20 9.00 5.98 4.82
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Also 31.80 105.00 73.20 3.13 2.54
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Table 1. Graded assay data from Nyati core boreholes
For a full table of results please visit:
http://www.monteromining.com/projects/pdf/nyati-drilling-april2012.pdf
The results of the exploration carried out at Lower Nyati to date have
delineated an extensive target zone on which only a portion has been drilled.
Additional trenching and a program of infill sampling along section lines in
between the current trench locations is being carried out to establish a more
detailed understanding of the grade and continuity of the TREO mineralisation in
order to define areas for further drilling.
QA/QC: Montero has used blanks, field duplicates and one analytical standard to
monitor the sampling and analytical quality. Results to date for the blank and
field duplicates show acceptable quality for the main REEs of interest. The
standard used was prepared on behalf of Montero using material from Wigu Hill
and has certified analytical values for Ce, La, Pr and Sm based on analyses from
16 different laboratories. A review of the results reported by ALS Chemex,
indicates that these meet the required level of analytical quality.
Qualified Person's Statement
The technical information contained in this press release has been reviewed by
Mr. Mike Evans, M.Sc. Pr.Sci.Nat. who is a qualified person for the purpose of
National Instrument 43-101 and a consulting geologist to Montero. Grab samples
are selective by nature and are unlikely to represent average grades on the
property.
About Montero Mining & Exploration
Montero Mining and Exploration Ltd. Is a mineral exploration and development
company engaged in its flagship Rare Earth Elements (REE) Project Wigu Hill in
Tanzania and has phosphate assets in South Africa and uranium assets in Tanzania
and Quebec, Canada. Montero is focused on adding value through the exploration
on properties, which have the highest potential for future discoveries or
development of existing mineral resources into mineable reserves. The flagship
Wigu Hill REE Project is a high-grade, undeveloped Light Rare Earth Element
deposit where the current focus is on updating the initial NI 43-101 Mineral
Resource Estimate and advancing the hydro-metallurgical testwork with Mintek.
Montero has a fast-track strategy to advance a portion of the Wigu Hill deposit
to the mining and production stage in the short-term while further defining a
larger deposit. With China's control over export quotas, it is becoming
imperative that the rest of the world develops new rare earth resources to meet
the increasing demand from "green" technology and high-tech applications.
Montero's growth strategy is to develop and de-risk the Wigu Hill Rare Earth
Element project and to bring this to account through eventual rare earth
production and cash flow, while operating in an environmentally and socially
responsible manner. Montero trades on the TSX Venture Exchange under the symbol
MON.
Dr. Tony Harwood - President and CEO
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Release includes certain "forward-looking statements". These statements are
based on information currently available to the Company and the Company provides
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differ materially from those currently anticipated in such statements for many
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