Situated in the Middle of the Pilbara Gold Rush
Monterey Minerals Inc. (CSE:MREY,FWB:2DK) is a mineral exploration company with properties in Western Australia and British Columbia, Canada. Monterey Minerals is focusing its efforts on its Sherlock River gold property in Western Australia, which has been named the world’s second-best mining jurisdiction by the Fraser Institute.
The Sherlock River property is located in the Pilbara region, which is historically known to possess conglomerate gold. The property remains largely underexplored; however, some exploration work has been completed on the property. Monterey Minerals is currently developing an exploration plan for the property.
Monterey Minerals has also recently acquired 13 mining tenements that cover 847 square kilometers in the Pilbara. The properties are either adjacent to or surrounded by properties held by major mining companies in the region. Monterey Minerals is currently reviewing historical data on the properties.
The Pilbara region has captured the attention of major mining companies such as De Grey Mining Limited (ASX:DEG), Novo Resources Corp. (TSXV:NVO), Kairos Minerals Ltd. (ASX:KAI) and Pacton Gold (TSXV:PAC). Each of these companies is actively and aggressively exploring the area around Monterey Minerals’ properties.
“The next twelve months are going to be very busy with major players in the Pilbara Basin all committing to significant exploration programs, including Novo Resources, DeGrey Mining, Pacton Gold, Kairos Minerals and Artemis Resources,” said Monterey Minerals Chairman Guy Le Page.
To ensure that the company has a diverse portfolio, Monterey Minerals has secured the 13,560-hectare Cobalt Mountain copper porphyry property in British Columbia, Canada. The company has recently commenced a field program comprised of geological mapping, prospecting and soil sampling on the property. The results are pending.
Monterey Minerals’ management team notably holds 11 percent of the company’s shares. The previous owners of the Australian properties collectively hold 37 percent of shares.
Monterey Minerals’ Company Highlights
- Operating in Western Australia, the world’s second-best mining jurisdiction according to the Fraser Institute.
- Control 992 square kilometers in the Pilbara region in Western Australia.
- Exploration upside potential on all Western Australia projects.
- Projects are adjacent to major players in the region.
- De Grey Mining, Novo Resources, Kairos Minerals and Pacton Gold all actively exploring in the Pilbara.
- Exploration is ongoing at Cobalt Mountain.
- Management notably holds 11 percent of shares.
- Previous owners collective hold 37 percent of shares.