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Montero Mining and Exploration Completes Initial 43-101; Releases 3D Drill Tour

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3D Drill Tour Examines the Wigu Hill High Grade REE Project

Montero Mining and Exploration’s (TSX.V:MON) Wigu Hill high-grade rare earth element project is located in Tanzania. The project has an abundance of light rare earths vital to green technologies and high-tech applications.

In this democratic, politically stable, mine-friendly country, Wigu Hill is located 170 km south-west of the deep-sea port and capital city Dar es Salaam, and 68 km south of the regional centre, Morogoro.

The Wigu Hill deposit was recorded by the US Geological Survey to be one of the richest resources on the planet, with an estimated average grade of 20% REE. Existing infrastructure includes all-season roads and a rail line linking the Zambian copper belt with Dar es Salaam, with a rail siding just 12 kilometres from the project.

Newly cut access roads intersect the property for exploration purposes.

Wigu Hill consists of two contiguous exploration licenses totaling 142 km2, of which just a fraction has been explored.

2011 sampling and trenching of the Wighu Hill Carbonatite complex revealed five high-priority drill targets — the Tembo, Twiga, Tumbili, Chui and Nyati targets.

Results from prior reconnaissance sampling of 209 grab samples across the entire 6.2 kilometre east-west strike length averaged 7.4% TREO. Assays were recorded to a high of 26.2% TREO.

Trenching in the project area included assays of up to 27.25% TREO in the Twiga zone.

In Q1, 2011, a 2,500 metre, 19-hole drill program was initiated at the Twiga and Tembo targets to test the depth extent of the mineralisation identified by surface exploration.

Assays from hole TW003R returned 6.23% TREO over 20.84 metres, including 11.51% TREO over 4.51 metres.

Assays from the Tembo target, 950 metres northwest of the Twiga target, appear to confirm the continuity of mineralization at depth.

Results from Trench 7 assays averaged 9.27% TREO over 6.45 metres including 15.48% over 2 metres.

Drilling in the Tembo zone revealed excellent grades below surface as well, with 3.59% TREO over 6.95 metres, including 5.66% TREO over 2.84 metres.

The Tumbili and Nyati targets are an exciting exploration focus for Montero.

Tumbili contains an extensive bastnaesite rich carbonatite that has been traced over 1.2 kilometres.

A 1,525 m drill program has been completed at the Tumbili target resulting in 256 m @ 0.6% TREO. Trenching at Tumbili returned up to 9.44% TREO over an apparent width of 2.3m.

At the new 800 x 400 metre Nyati target grab sampling of bastnaesite-rich carbonatite returned values up to 18.21% TREO with an average value from 54 samples being 10.44% TREO. Trenching is underway with a further 5,000 m of drilling planned for later this year.

Exploration at the Tumbili and Nyati zones continues to build on the excellent high-grade results obtained from the project so far.

In September 2011, Montero released an initial NI 43-101 Inferred Resource of 3.3Mt of 2.6% LIGHT RARE EARTH OXIDES (LREO5), of which 510,000 averaged at 4.4% LREO5.

The resource represents just 2,225 m of shallow drilling down to 150 m on 2 of 10 possible targets.

Montero Mining and Exploration is focused on adding to the initial resource estimate through further exploration drilling. Results of the initial resource estimate combined with exploration at the Tumbili and Nyati targets indicate excellent potential for a sizeable Light Rare Earth deposit.


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