TORONTO, ON – August 26, 2020 – Monterey Minerals Inc. (the “Company” or “Monterey”) (CSE: MREY and FSE :2DK) is pleased to announce that it appointed Max Tuesley as Country Manager for the Alicia high-grade gold and base metals project in Alicia Municipality, Philippines (the “Alicia Project”).
Mr. Tuesley will oversee exploration activity at the Alicia Project. Max is a highly experienced project manager and has spent over 25 years in grassroots, advanced mineral exploration and mine production, predominantly in gold, copper and base metals. He has been working in the Philippines for nine years, including senior management positions at the Masbate Gold Project for B2Gold Corp. and the Runruno Gold Mine for Metals Exploration Plc. Other experience includes managing start up gold projects in Central Asia and porphyry copper exploration in both Mongolia and Sudan. Mr. Tuesley holds an Honour’s degree in Economic Geology from James Cook University in Australia and is a member of the Australian Institute of Mining and Metallurgy.
Monterey also announces that it is mobilizing its technical team to the Alicia Project to initiate the previously announced 2020 exploration program (see press release dated June 8, 2020). 2020 Exploration Plan Highlights:
- Exploration drilling along strike down to a depth of 300 metres to:
- Discover the source of the veins at surface and test the geologist’s premise that the vein systems are merging at depth
- Define the down-dip continuity/extension of the vein systems, grade distribution, consistency and vein characteristics
- Check consistency of zone width and grade at depth below the near surface oxidation zone
- Begin the groundwork for JORC or NI 43-101 maiden resource
- Priority Drill targets include:
- Pamaraw- Sumilhig Area
- Baloy Vein
- Ground and downhole IP surveys to define possible extent of mineralization
- Extended geological mapping, trenching and sampling program
Monterey has also recently granted 1.5 million options to directors, officers and consultants at a strike price of $0.10 good for five (5) years.
The technical information in this press release has been reviewed and approved by Martin Dormer, a consultant to the Company, who is a Qualified Person as defined by NI 43-101. Martin is a member of the Australian Institute of Mining and Metallurgy (AusIMM), the Australian Institute of Geoscientists (AIG). He is a West Australian geologist with over 22 years’ experience and sufficient experience of relevance to the styles of mineralization and types of deposits under consideration to qualify as a Competent Person as defined by the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves.
About Monterey Minerals Inc.
The Company owns 100% of the Alicia Project in the Alicia Municipality of the Philippines. The Alicia Project is a system of multiple, high-grade gold and silver veins with base metals over a strike length of greater than ten kilometres. The Company also owns the Cobalt Mountain Property (the “Property”) in the Omineca Mining Division of British Columbia near the town of Smithers. The Company’s NI 43-101 technical report, available on SEDAR, notes historic sampling on the Property that returned mineralized showings of gold, silver, copper, zinc and cobalt. The Company also owns 877 sq. km. of prospective Pilbara Basin tenements on the eastern flank of the Pilbara Basin in Western Australia, including a property that abuts Pacton Gold’s tenement where gold-bearing conglomerates were identified.
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On Behalf of the Board of Directors,
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.