The Alicia Project from Monterey Minerals Inc. (CSE: MREY; FRA: 2DK) in the Philippines is growing rapidly. If one were to string together all the gold veins that have already been discovered on the project, one would already have a total distance of all veins of more than 10 kilometers. Now the company has found another rich gold vein with the ongoing drilling. It is the eleventh of its kind. Geologists have christened it Toto-Ader.
The Toto vein runs parallel to the already known veins along strike. The gold and silver results from a 30 centimeter long trench sample include 10.08 grams per tonne of gold (“g / t Au”) and 65.6 grams per tonne of silver.
Similarly, in the parallel Pamaraw vein, 2.31 g / t Au and 0.5 g / t Ag over 1 meter and 1.35 g / t Au and 2.0 g / t Ag over 1.3 meters measured. The third vein tested, Baloje, returned 1.58 g / t Au and 9 g / t Ag in a one meter trench. Sampling continues in parallel with the current drilling program.
“Alicia is developing into an extremely attractive project”
Monterey In-Country Manager Max Tuesley said, “Alicia is developing into an extremely attractive project. While still in its early stages, these high-grade gold assays from surface trenches suggest that the deeper targets could potentially produce greater concentrations of mineralization. “
Including the Toto vein, 11 gold veins of high grade gold and base metals have been identified over a combined strike length of more than 10 kilometers. The newly discovered Toto Vein is geologically significant as the vein has distinct breccia features and is significantly altered, with sericite, quartz and base metal sulfides identified by the on-site geological team (Figure 1).
Figure 1: High grade quartz and sulfide breccia from the newly discovered Toto Vein
As previously announced (see press release dated September 16, 2020), Monterey has contracted the Filipino company Indodrill to complete 3,000 meters of drilling on the Alicia project.
Indodrill has now completed the first well and drilling is still on schedule. Exploration drilling along strike is being driven to a depth of 300 meters. The goal is to find the common source of the veins. The geologists suspect that the vein systems merge at depth. This is particularly suggested by the characteristics of the Toto vein. Priority drill targets include: the Pamaraw Sumilhig area and the Baloje vein.
Monterey plans to release a JORC or NI 43-101 Maiden resource upon completion of drilling.
According to §34 WpHG we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can or do hold shares in Monterey Minerals and thus a conflict of interest may exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical information and opinion generation can occur during this period. Furthermore, there is a direct or indirect consulting or other service contract between Monterey Minerals and GOLDINVEST Consulting GmbH, which also creates a conflict of interest.
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