Featured Company /
Monterey Minerals Inc.
According to Filipino folklore, Japanese General Yamashita Tomoyuki buried a fortune in gold in the Philippines at the end of WWII. Enamored of visions of riches, treasure hunters – some going to great lengths – have never unearthed the war loot, which some historians contest is only a myth anyway. What’s not a fable is that the archipelago is actually quite bountiful in gold reserves, with multiple major gold producing districts serving as far more reliable sources for producing not only gold, but silver and base metals as well.
With proven gold reserves of approximately 200 metric tons as of June 2020, the Philippines came in at #23 on the list of countries with the most gold reserves last year. The reserves have held steady, waiting for the next wave of exploration to bolster the total and climb the nation up further in the world rankings.
Now that gold prices set a new all-time high at $2,089 per ounce in August and are maintaining over $1,800, interest in the mining industry is soaring again across the full spectrum of metals. To that end, analysts have been piping-in with their forecasts for the precious yellow metal, including Citigroup predicting a new high at $2,300 this summer and Bank of America Merrill Lynch calling for gold to reach $3,000 per ounce by early next year.
There are several potential catalysts on the horizon to send gold higher that gold bugs are monitoring closely, namely more stimulus expected from the Biden administration that will add pressure to stubbornly low inflation rates as economies re-open. Basic economics say that governments cannot simply keep printing trillions of dollars in stimulus cash while central banks exercise years-long quantitative easing without it eventually catching up and driving inflation upward. If history serves as any guide, rising inflation rates will send investors seeking gold as a safe haven asset.
Against this backdrop, it is a prime time for Monterey Minerals Inc. (CSE:MREY) to be advancing multiple precious and base metal assets in its homeland and abroad independently and through partnerships.
The Toronto-based company owns 100% of the Alicia Project in the Alicia Municipality of the Philippines located on the Moro Gulf. The flagship project for Monterey and primary area of focus, Alicia is a system of multiple (11 to date), high-grade gold and silver veins open in multiple directions with base metals over a strike length of more than 10 kilometres. Samples to date have returned up to 1,299 grams per ton (g/t), or 41 ounces per ton (oz/t), gold with 332 g/t (10 oz/t) silver.
The company holds an exploration permit for Alicia within a Designated Mineral Reserve area
The initial two targets are the Baloy Vein and the Pamaraw-Sumihig Vein, both of which early exploration has returned high grades that underpinned the design for a recently completed 2020 drill program.
For instance, shallow drilling into the Baloy Vein hit high grade mineralization. Highlights included 1.2 metres grading 116 g/t gold, 1,263 g/t silver, 6.3% copper, 6.5% zinc and 47.9% lead in one hole and 1.5 metres of 40 g/t gold, 437 g/t silver, 1.1 % copper, 3.6 % zinc and 62.9 % lead.
At the Pamaraw-Sumihig Vein, a grab sample assayed 7.51 g/t gold, 55.2 g/t silver and 1.76% copper, while a drill hole cut 1.5 metres of 13.86 g/t gold, 181 g/t silver and 4.8% copper.
Armed with this data, mapped vein locations and a litany of high-grade surface samples, Monterey on December 20 completed a 10-hole, 2,074-metre diamond drill program focused on the Baloy Vein and Pamaraw-Sumilhig area. More specifically, the drilling, which ranged in depth from 150 metres to 318.8 metres, targeted the Pamaraw, Baloy and Sandi veins where historic samples included 1,299 g/t gold, 43.4 g/t gold, 34.29 g/t gold, 13.86 g/t gold and 13.18 g/t gold.
Investors will be paying close attention for assay results from the drill program, which are expected this quarter. There is reason to be optimistic considering not only did preliminary geological interpretations of the drilling results confirm the targeted epithermal style vein structures which have been intersected in all holes, drilling also resulted in the discovery of a new vein, dubbed Toto.
On its own, the data is compelling, but Monterey management believes that the results so far are just a sampling of what has the potential for a larger scale orebody at depth. This hypothesis is backstopped by evidence suggesting the target for Alicia is a multi-vein epithermal deposit, located within the highly prospective "boiling zone" of the hydrothermal system. Further, the latest drill hole indicated that there may be a degree of “telescoping” at the project. Boiling zone and telescoping are technical geology nomenclature explaining the formation of an ore deposit with interplay between rates of paleosurface degradation and hydrothermal activity, inclusive of juxtaposing deep copper porphyry mineralization with an epithermal style system of precious and base metals.
In layman’s terms, it is rock rich in gold, silver, copper and other minerals formed over millions of years and the earth’s crust is kneaded.
With the veins known near surface, the go-forward plan is horizontal and vertical expansion and defining the resource. This will include additional drilling, conducting ground and downhole IP surveys, and a mapping, trenching and sampling program with intentions for a JORC (Joint Ore Reserves Committee) or NI 43-101 maiden resource. The immediate goal for Monterey is to better understand the potential of the vein systems to be merging at depth, effectively stemming from a single, large deposit that can be the source for a lucrative mine.
Max Tuesley, who comes from senior management positions at B2Gold Corp. (NYSE:BTG)(TSX:BTO) and Metals Exploration Plc. (LSE:MTL), is overseeing the Alicia Project as Monterey’s In-Country Manager. Tuesley has 25 years in grassroots, advanced mineral exploration and mine production in gold, copper and base metals, including nearly a decade working in the Philippines.
Tuesley is part of a diversified leadership team led by CEO and President James Macintosh. Macintosh, who holds a B.Sc. (Geology) and is a member of Queen’s University Geology Council, has 34+ years experience in mineral exploration, mining research analysis, corporate finance and management of private and public resources companies. A swatch of his C.V. includes serving as Lead Director of Carlisle Goldfields prior to its acquisition by Alamos Gold (NYSE:AGI)(TSX:AGI) and serving as a Director of Graycliff Exploration (CSE:GRAY)
Elsewhere in the portfolio, Monterey owns the Cobalt Mountain Property in the Omineca Mining Division of British Columbia near the town of Smithers. The company's NI 43-101 technical report notes historic sampling on the property that returned mineralized showings of gold, silver, copper, zinc and cobalt.
The company also owns 538 square kilometres of prospective Pilbara Basin tenements on the eastern flank of the Pilbara Basin in Western Australia. All of the properties border other significant tenement holders. This is a nice, tucked-in value add to the future of Monterey as it brought some revenue and will not consume any MREY resources. An original deal was struck in September for which New Age bought four tenements from Monterey for 25 million shares of NAE. At that time, New Age further agreed to an option and sale agreement for four other tenements for total consideration of 75 million NAE shares and 37.5 million unlisted NAE options with an exercise price of $0.02, expiring 28 September 2023. That option package was extended last month to reach July 2021. Under the terms of the extension, Monterey will receive an additional CAD$100,000 and New Age agrees to spend AUS$400,000 in exploration expenditures on the tenements prior to exercising its option.
That’s a lot for a company currently being valued at just a CAD$5.3 valuation, a level still arguably low for a company with a qualified team, advancing a highly prospective property at a time when experts agree that metal prices are going to be heading higher.
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As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Corporate Snapshot:
Monterey Minerals Inc.
Stock Symbol:
CNX
Stock Exchange:
CSE
Sector:
Natural Resources
52 Week High:
$0.1100
52 Week Low:
$0.0200
Current Stock Quote / Chart / News: Click here
Information as of
January 19, 2021
According to Filipino folklore, Japanese General Yamashita Tomoyuki buried a fortune in gold in the Philippines at the end of WWII. Enamored of visions of riches, treasure hunters – some going to great lengths – have never unearthed the war loot, which some historians contest is only a myth anyway. What’s not a fable is that the archipelago is actually quite bountiful in gold reserves, with multiple major gold producing districts serving as far more reliable sources for producing not only gold, but silver and base metals as well.
With proven gold reserves of approximately 200 metric tons as of June 2020, the Philippines came in at #23 on the list of countries with the most gold reserves last year. The reserves have held steady, waiting for the next wave of exploration to bolster the total and climb the nation up further in the world rankings.
Now that gold prices set a new all-time high at $2,089 per ounce in August and are maintaining over $1,800, interest in the mining industry is soaring again across the full spectrum of metals. To that end, analysts have been piping-in with their forecasts for the precious yellow metal, including Citigroup predicting a new high at $2,300 this summer and Bank of America Merrill Lynch calling for gold to reach $3,000 per ounce by early next year.
There are several potential catalysts on the horizon to send gold higher that gold bugs are monitoring closely, namely more stimulus expected from the Biden administration that will add pressure to stubbornly low inflation rates as economies re-open. Basic economics say that governments cannot simply keep printing trillions of dollars in stimulus cash while central banks exercise years-long quantitative easing without it eventually catching up and driving inflation upward. If history serves as any guide, rising inflation rates will send investors seeking gold as a safe haven asset.
Against this backdrop, it is a prime time for Monterey Minerals Inc. (CSE:MREY) to be advancing multiple precious and base metal assets in its homeland and abroad independently and through partnerships.
The Toronto-based company owns 100% of the Alicia Project in the Alicia Municipality of the Philippines located on the Moro Gulf. The flagship project for Monterey and primary area of focus, Alicia is a system of multiple (11 to date), high-grade gold and silver veins open in multiple directions with base metals over a strike length of more than 10 kilometres. Samples to date have returned up to 1,299 grams per ton (g/t), or 41 ounces per ton (oz/t), gold with 332 g/t (10 oz/t) silver.
The company holds an exploration permit for Alicia within a Designated Mineral Reserve area
The initial two targets are the Baloy Vein and the Pamaraw-Sumihig Vein, both of which early exploration has returned high grades that underpinned the design for a recently completed 2020 drill program.
For instance, shallow drilling into the Baloy Vein hit high grade mineralization. Highlights included 1.2 metres grading 116 g/t gold, 1,263 g/t silver, 6.3% copper, 6.5% zinc and 47.9% lead in one hole and 1.5 metres of 40 g/t gold, 437 g/t silver, 1.1 % copper, 3.6 % zinc and 62.9 % lead.
At the Pamaraw-Sumihig Vein, a grab sample assayed 7.51 g/t gold, 55.2 g/t silver and 1.76% copper, while a drill hole cut 1.5 metres of 13.86 g/t gold, 181 g/t silver and 4.8% copper.
Armed with this data, mapped vein locations and a litany of high-grade surface samples, Monterey on December 20 completed a 10-hole, 2,074-metre diamond drill program focused on the Baloy Vein and Pamaraw-Sumilhig area. More specifically, the drilling, which ranged in depth from 150 metres to 318.8 metres, targeted the Pamaraw, Baloy and Sandi veins where historic samples included 1,299 g/t gold, 43.4 g/t gold, 34.29 g/t gold, 13.86 g/t gold and 13.18 g/t gold.
Investors will be paying close attention for assay results from the drill program, which are expected this quarter. There is reason to be optimistic considering not only did preliminary geological interpretations of the drilling results confirm the targeted epithermal style vein structures which have been intersected in all holes, drilling also resulted in the discovery of a new vein, dubbed Toto.
On its own, the data is compelling, but Monterey management believes that the results so far are just a sampling of what has the potential for a larger scale orebody at depth. This hypothesis is backstopped by evidence suggesting the target for Alicia is a multi-vein epithermal deposit, located within the highly prospective "boiling zone" of the hydrothermal system. Further, the latest drill hole indicated that there may be a degree of “telescoping” at the project. Boiling zone and telescoping are technical geology nomenclature explaining the formation of an ore deposit with interplay between rates of paleosurface degradation and hydrothermal activity, inclusive of juxtaposing deep copper porphyry mineralization with an epithermal style system of precious and base metals.
In layman’s terms, it is rock rich in gold, silver, copper and other minerals formed over millions of years and the earth’s crust is kneaded.
With the veins known near surface, the go-forward plan is horizontal and vertical expansion and defining the resource. This will include additional drilling, conducting ground and downhole IP surveys, and a mapping, trenching and sampling program with intentions for a JORC (Joint Ore Reserves Committee) or NI 43-101 maiden resource. The immediate goal for Monterey is to better understand the potential of the vein systems to be merging at depth, effectively stemming from a single, large deposit that can be the source for a lucrative mine.
Max Tuesley, who comes from senior management positions at B2Gold Corp. (NYSE:BTG)(TSX:BTO) and Metals Exploration Plc. (LSE:MTL), is overseeing the Alicia Project as Monterey’s In-Country Manager. Tuesley has 25 years in grassroots, advanced mineral exploration and mine production in gold, copper and base metals, including nearly a decade working in the Philippines.
Tuesley is part of a diversified leadership team led by CEO and President James Macintosh. Macintosh, who holds a B.Sc. (Geology) and is a member of Queen’s University Geology Council, has 34+ years experience in mineral exploration, mining research analysis, corporate finance and management of private and public resources companies. A swatch of his C.V. includes serving as Lead Director of Carlisle Goldfields prior to its acquisition by Alamos Gold (NYSE:AGI)(TSX:AGI) and serving as a Director of Graycliff Exploration (CSE:GRAY)
Elsewhere in the portfolio, Monterey owns the Cobalt Mountain Property in the Omineca Mining Division of British Columbia near the town of Smithers. The company's NI 43-101 technical report notes historic sampling on the property that returned mineralized showings of gold, silver, copper, zinc and cobalt.
The company also owns 538 square kilometres of prospective Pilbara Basin tenements on the eastern flank of the Pilbara Basin in Western Australia. All of the properties border other significant tenement holders. This is a nice, tucked-in value add to the future of Monterey as it brought some revenue and will not consume any MREY resources. An original deal was struck in September for which New Age bought four tenements from Monterey for 25 million shares of NAE. At that time, New Age further agreed to an option and sale agreement for four other tenements for total consideration of 75 million NAE shares and 37.5 million unlisted NAE options with an exercise price of $0.02, expiring 28 September 2023. That option package was extended last month to reach July 2021. Under the terms of the extension, Monterey will receive an additional CAD$100,000 and New Age agrees to spend AUS$400,000 in exploration expenditures on the tenements prior to exercising its option.
That’s a lot for a company currently being valued at just a CAD$5.3 valuation, a level still arguably low for a company with a qualified team, advancing a highly prospective property at a time when experts agree that metal prices are going to be heading higher.
About AllPennyStocks.com:
AllPennyStocks.com Media, Inc., founded in 1999, is one of North America’s largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering monthly stock picks, daily penny stock to watch trade ideas, market commentary and more.
As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Monterey Minerals Inc. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Monterey Minerals Inc.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
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AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for Monterey Minerals Inc. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.
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