Whether you like the Philippines or not: Monterey Minerals Inc. (CSE: MREY, FSE: 2DK) should be kept in mind in the coming weeks. The company has just announced that drilling has begun on the high grade Alicia gold project in the Philippines!
Monterey initially set out to take 3,000 meters. The exploration is focused on the high grade gold and polymetal veins, Pamaraw, Baloy, Sandi and Quintilla identified over the 10 kilometer strike length at Alicia.
Figure 1 – Core drill rig on the Alicia Gold Project in the Philippines.
Monterey management wants the drilling to test the hypothesis that the veins identified on the surface merge at depth and form a larger, higher grade system. If so, the market could no longer ignore Monterey, as such a major discovery should offset country risk. Monterey is quoted at a clear valuation discount compared to comparable North American projects (if there are any in this quality). The valuation at a rate of 0.06 CAD is currently just 9 million CAD. We are excited.
Figure 2: Parallel veins can be traced for 10 kilometers. The grades from grab samples
are sometimes spectacular and are more than an ounce per gram.
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In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that GOLDINVEST Consulting GmbH and / or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Monterey Minerals and that there is therefore a conflict of interest. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time. In addition, GOLDINVEST Consulting GmbH is remunerated by Monterey Minerals for reporting on the company. This is another clear conflict of interest.
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