Lithium, Phosphates & Rare Earths

Montero Mining and Exploration Ltd. is a mineral exploration and development company engaged in the identification, acquisition, evaluation and exploration of mineral properties in Africa. Montero currently has a Rare Earth Elements (REE) project in Tanzania and Phosphate project in South Africa and exploring the Soris Lithium Project in Namibia.

Lithium

Montero has entered the lithium exploration field with a focus on high-grade lithium pegmatite deposits with spodumene as the main lithium bearing mineral in mining friendly jurisdictions. Other valuable base and rare metals are associated with such pegmatite deposit such as tantalum, niobium, tin, and other rare metals.

The Soris Lithium Project is located in Namibia and Montero has the opportunity, under the terms of a Letter of Intent (LOI), and subject to due diligence and regulatory approval to acquire a 80% equity interest. Namibia is one of the most progressive mining investment countries in Africa. Under the terms of the LOI, Montero immediately earns an 80% interest in the Property by committing to spending C$1 million and completing a feasibility study in 3 years.

The Soris Lithium Project is located in central Namibia north west of the town of Uis. The town of Uis is 220 km north of Namibia's largest commercial deep-water port, namely Walvis Bay. The project is located in the Erongo Region and is connected by dirt and asphalt road to the port of Walvis Bay. The Soris pegmatite field are hosted in the metasedimentary units of the Damara Mobile Belt, the northeast-trending branch of the Neo-Proterozoic, Pan African Damara Orogen in Namibia. The zoned pegmatites at Soris belong to a group of highly fractionated, tantalite-cassiterite, lithium-rich rare metal pegmatites. Lithium mineralization occurs in the form of spodumene crystals developed virtually over the whole length of the pegmatite, although the relative abundance of spodumene varies from one location to another. Spodumene minerals of up to 80 cm long are observed inter-grown with quartz towards the pegmatite core zone.

The Soris Project pegmatites encompasses several outcrops, varying in length between 100m up to 470m over a distance of 2.4 kms and has been measured in places to be more than 30 m wide. The Soris pegmatites were mined on small scale for tin and tantalum between 1960 and 1990 with an estimated total production of 4 to 5 tonnes tantalite concentrate grading 54 to 61% Ta205 and about 4 tonnes of cassiterite concentrate grading 64% SnO2... and more recently exploration for tantalum and tin, including RC (Reverse Circulation drilling was undertaken until 2015. The pegmatite has not been mined or systematically sample assayed for lithium.

Recent field investigations by Montero revealed the pegmatite to host more than 30% spodumene by volume with values of up to 7.7 % Li2O obtained from grab samples. Further work confirmatory work is planned as part of the due diligence.

Chemical Abbreviations:

  • Ta205 Tantalum Pentoxide or Tantalum(V) oxide
  • SnO2 Tin dioxide or Stannic Oxide
  • Li2O Lithium Oxide or Lithia

Rare Earth Elements

Montero's Wigu Hill Rare Earth Element Project in Tanzania, is a high-grade Light Rare Earth Element rich carbonatite deposit. This is a Montero discovery with the company having put the first drill holes into the deposit and determining a resource and completed metallurgical testwork. Montero's fast-track strategy is to advance the deposit to mining and production stage producing a rare earth concentrates for sale. Montero has produced samples of saleable Rare Earth oxide and hydroxide products and has demonstrated a pyrometallurgical and hydrometallurgical process route on a laboratory scale. The project is currently under care and maintenance due to the low rare earth prices and the Tanzanian Ministry of Mines has awarded the company a 5-year Retention License over the area of the deposit.

Rare Earth Elements (REEs) - a group of 15 metals are critical in the advancement and development of emerging "green" technologies and high-tech applications. China largely controls rare earth prices as it is the dominant producer of REEs. The rest of the world is required to develop new rare earth resources of supply to meet the increasing demand from "green" technology and high-tech applications. Montero has an experienced Board and Management team that has built and operated mines and refineries in Africa which brings significant credibility to Montero's strategy of becoming a rare earth producer.

Phosphates

The phosphate project consists of two Prospecting Rights, namely Duyker Eiland and Phillips Kraal, and are located in the Western Cape Province, South Africa (see maps on left sidebar). The most advanced is the Duyker Eiland project located 30 kilometres north of the Port of Saldanha Bay. Exploration drilling has been undertaken on Duyker Eiland and Phillips Kraal and a resource has been defined on the Duyker Eiland deposit and a NI43-101 compliant resource and PEA report has been compiled by independent consultants, AMEC Earth & Environmental Services and Turgis Engineering Consultants, respectfully.

Montero has been focused on attracting strategic investors for the development of both the Wigu Hill REE project and the phosphate project through joint venture and project specific funding.

Montero operates in an environmentally and socially responsible manner, bringing value to all our stakeholders. Montero trades on the TSX Venture under the symbol MON.

Highlights

  • Montero Signs a Letter of Intent on the Soris Lithium Project (see news release)
  • Montero Signs Definitive Agreement With Strategic Investor to Develop Phosphate Rock Properties and Fertilizer Plant in Saldanha Bay, South Africa (see News page)
  • Montero Revises High-Grade REE Resource in the Twiga Zone to 0.47 Million Tonnes Averaging 5.2% LREO5 at the Wigu Hill Rare Earth Project, and receives Environmental Impact Assessment Certificate for the Wigu Hill Rare Earth Project in Tanzania (see News page)
  • Produced samples of saleable Rare Earth Products for marketing purposes including a Mixed Rare Earth Carbonate, Oxide, Hydroxide and Cerium products. (see news release 05/03/12) and MoU signed with Star Earth Minerals (see news release 20/03/12) and "Strategic Investor" (see news release 16/11/12)
  • Initial NI 43-101 Resource Estimate on 2 of 10 drill targets (see news release 12/09/11) at our flagship Wigu Hill Project in Tanzania which hosts high TREO grades and enriched in La, Ce and Nd - key metals in the Green Energy Economy.
  • Initial Inferred Mineral Resource of 32.8 M tonnes grading 7.15% P2O5, capable of producing an acid-grade phosphate concentrate of 33% P2O5 to 35% P2O5 at the Duyker Eiland Project in South Africa. (see news release 14/12/11) and a positive Preliminary Economic Assesment.
  • Experienced management team with over 30 years of working in Africa
  • Social responsibility and environmental stewardship corporate cornerstones - See CSR Page
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