Situated in the Middle of the Pilbara Gold Rush
This profile is part of a paid investor education campaign.*
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 seven mining tenements that cover 525 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 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. Work on the property is ongoing.
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.
- Operating in Western Australia, the world’s second best mining jurisdiction according to the Fraser Institute.
- Control 670 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.
Key Asset: Sherlock River Gold Project
In February 2019, Monterey Minerals completed its purchase of Ridge Street Investments Pty Ltd. for the acquisition of two mining tenements, collectively known as the Sherlock River property. The two tenements cover 135 square kilometers of land in the Pilbara region in Western Australia. The Sherlock River property is located within the northwest Pilbara Craton and the central Pilbara tectonic zone. Portions of the property cover the sediments and intrusives at De Grey Mining’s Mallina Formation.
The property is approximately 15 kilometers to the west of Novo Resources’ Station Creek gold project and is 17 kilometers west of Novo Resources’ Edgina gold project. Pacton Gold, Novo Resources and Pioneer Resources Ltd. (ASX:PIO) all hold significant land packages to the east of the property.
The property remains largely underexplored. Some historical exploration work has been completed on the property, including geochemical sampling and mapping. Previous exploration work has identified that gold anomalies adjacent to the southern border of the property lie near the Mallina Basin sediments and intrusives. Monterey Minerals is currently developing an exploration plan for the property.
In April 2019, Monterey Minerals completed its purchase of CTTR Mining Tenements Pty Ltd. for the acquisition of seven mining tenements that cover 525 square kilometers in the Pilbara.
“As we continue to increase our property portfolio, we are now looking forward to exploring our over 670 square kilometers in the Pilbara Basin. We will announce our exploration plans upon the completion of our internal review of the historical data,” said Monterey Minerals President and CEO James Macintosh.
The 155-square-kilometer tenement is adjacent to Novo Resources and Pioneer Resources’ Egina project and is directly northeast of Kairos Minerals’ Croydon project. Kairos Minerals has recently discovered over 390 ounces in gold nuggets at Croydon. The tenement is also two kilometers away from Pacton Gold’s Friendly Creek project, which boasts one of the richest alluvial gold nugget patches in the Pilbara.
The 20-square-kilometer tenement is surrounded by De Grey Mining’s Pilbara gold and Turner River base metals projects. The property is also adjacent to De Grey Mining’s Wingina mining center and 58 kilometers south of the Port of Hedland.
The 85-square-kilometer tenement lies four kilometers north of the Tabba Tabba shear zone and is directly south of the Indee fault, which crosses a section of the property. The property is adjacent to and immediately northeast of Pacton Gold-Arrow Minerals (ASX:AMD) joint venture project. The property is also five kilometers north of De Grey Mining’s Pilbara gold project.
Tenements E45/5064 and E45/5065
The two tenements collectively cover over 245 square kilometers. The properties are located approximately 20 kilometers to the west of Port Hedland. Novo Resources holds an extensive land package immediately to the west and Arrow Minerals has properties to the south.
James Macintosh, B.Sc. — President, CEO and Director
James Macintosh has over 30 years of experience in the mining industry and as a mining analyst. For the past 25 years, he has held various executive and directorial positions with numerous public and private companies in Canada and the US. He is the President, CEO and Director of Monterey Minerals Inc. and an advisor to Southern Pioneer Resources Corp., both private exploration companies.
As a Board Director, Macintosh sits on the Audit Committee of Silver Mountain Mines Inc. He was recently the Lead Director and Chairman of the Audit Committee for Carlisle Goldfields Limited, a Canadian gold company sold to Alamos Gold Inc. He graduated from Queen’s University with a B.Sc. (Honours, Geological Sciences) and sits on the Queen’s University Geology Council.
Julio DiGirolamo, CPA, CA — CFO, Corporate Secretary and Director
Julio DiGirolamo has over 23 years of senior-level public company experience including 4.5 years as CFO for Carlisle Goldfields Limited, a TSX-listed gold exploration company with projects located in northern Manitoba, Canada, until its sale to Alamos Gold Inc. in January 2016. He is currently CFO for Bunker Hill Mining Corp., Idaho Champion Gold Mines Ltd., SGX Resources Inc., and Satori Resources Inc. He began his public market experience while holding various senior roles during his five years with Greenstone Resources Ltd., a TSX and NASDAQ-listed gold mining company whose activities were focused in four Latin American countries.
DiGirolamo was also previously the Chief Financial Officer of Asia Now Resources Corp., a TSXV-listed junior exploration company, and Chief Financial Officer and Corporate Secretary of Innovium Media Properties Corp., a TSXV-listed early stage investor. During his time at Innovium, he also acted as interim Chief Financial Officer at Seed Media Group LLC and as Chief Financial Officer, Corporate Secretary and member of the Board of Directors of Atlantis Systems Corp. Over his career, he has served on the boards of various public and non-profit organizations.
Guy T. Le Page — Chairman of the Board
Guy Le Page was Head of Research at Morgan Stockbroking Limited (Perth). As Head of Research, he was responsible for the supervision of all Industrial and Resources research. Prior to that, he was a resources analyst covering exploration and mining companies listed on the Australian Stock Exchange. Prior to joining the brokerage industry, he spent 10 years as an exploration and mining geologist in Australia, Canada and the US. Le Page holds a B.A., a B.Sc. and an M.B.A. from the University of Adelaide, a Bachelor of Applied Science (Hons) from the Curtin University of Technology and a Graduate Diploma in Applied Finance and Investment from the Financial Securities Institute of Australia.
Kyler Hardy — Director
Kyler Hardy is a natural resource-focused entrepreneur. He has been involved in the sector for over fourteen years with both private and public businesses. During his career in the industry, he has gained a wide array of experience including diamond driller, project manager, exploration service contractor, business consultant, public company management and private equity investor. He has built businesses from early stage start-ups to advanced operating companies in several sectors. He was a founder and former CEO of a large geosciences and logistics management business specializing in grassroots to brownfields exploration and development. Hardy is experienced in project generation, exploration management, logistics, raising capital, corporate development and developing strategic alliances and partnerships. He is currently Vice President of Venex Capital Corp and CEO Ridge Royalty Corp.
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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Monterey Minerals and seek advice from a qualified investment advisor.