Prospect Resources

Montero Mining and Exploration has been awarded exploration licenses covering an area of 13 800 hectares in the Atacama Desert of northern Chile.

The exploration licenses are located between the Salar de Atacama and the coastal range in northern Chile.

The geology of the Avispa project consists of extensive sedimentary evaporite salt deposits intercalated with fine grained clastic sediments of tertiary age that occur in a stratified package, partially exposed and up to 30 m in thickness.

The evaporite deposits are considered to have been deposited as a lacustrine sequence that formed in a tectonically isolated part of the early Río Loa basin sedimentary infill in northern Chile.

Reconnaissance channel sampling by the founders of the evaporite lacustrine sequences found in the Avispa project area revealed anomalous values of lithium and iodine, as well as potassium, sodium and calcium as nitrates and sulphates that are generally encountered in the caliche deposits of the Chile nitrate fields.

“Montero has been awarded exploration licenses covering 13 800 hectares targeting a potentially new discovery of lithium mineralisation in the Atacama Desert of northern Chile.

“Lithium values of up 517 ppm 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,” comments Dr. Tony Harwood, president and CEO of Montero

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

“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,” he continues.