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Monterey Minerals signs LoT to purchase CTTR Mining Tenements

Mining News - Published on Fri, 15 Mar 2019

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Monterey Minerals Inc announced that it has signed a Letter of Intent to acquire Perth, Australia-based CTTR Mining Tenements Pty Ltd. Seven highly prospective tenements in the Pilbara Basin spanning 525 km2 are owned by CTTR Mining. As defined in the LOI, Monterey Minerals will purchase all CTTR Mining shares for 7,000,000 common shares of Monterey, and will plan to complete a definitive purchase and sale agreement in the second quarter of 2019.

With the signing of the LOI with CTTR Mining, our property portfolio in the Pilbara Basin will increase to 670 of highly prospective exploration properties. We believe in the opportunity presented by the exploration potential of the Pilbara Basin and will continue to look for additional prospects in the area.

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Posted By : Rabi Wangkhem on Fri, 15 Mar 2019
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