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Montero hires Turgis Consulting for Wigu Hill scoping study

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Montero Mining and Exploration (CVE:MON) said Tuesday it has hired Turgis Consulting to perform a scoping study on its Tanzanian rare earth element project Wigu Hill. 

Turgis, headquartered in Johannesburg, is a mining focused engineering company with 20 years of experience in the development and design of mines.

Turgis will outline the development plan of a small-scale mining operation to access the shallow high grade material at the project, the company said in a statement.

Montero chief executive, Tony Harwood, said: "The appointment of Turgis to undertake a scoping study on Wigu Hill is an important milestone for Montero. This puts us on track to realizing our target of fast-tracking the Wigu Hill project to mining and production."

Montero has drill tested two of 10 possible targets, while further drilling is underway to add to the main NI 43-101 resource.

The company aims to develop a small-scale mining operation in the short term, while further defining resources through exploration drilling prior to developing a larger mine in the future.

Shares of Montero traded flat at 27 cents Tuesday mid-afternoon on Toronto’s junior venture exchange.

Quick facts: Montero Mining and Exploration Ltd

Price: 0.16 CAD

TSX-V:MON
Market: TSX-V
Market Cap: $3.5 m
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