Monterey Minerals (CSE: MREY) closed this week the acquisition of Greater Arc Pty Ltd, a company that owns the Alicia high-grade gold and base metals project in Alicia Municipality, Philippines.<\/p>\n
Greater Arc was purchased from Greater Arc Resources for 54 million common shares of Monterey, which represents 35.4% of the issued and outstanding shares of Monterey, and becomes the company\u2019s largest shareholder. <\/p>\n Monterey plans to allocate most of the net proceeds from a recent oversubscribed private placement to exploration programs in the Philippines<\/p>\n<\/blockquote>\n<\/figure>\n In a press release, Monterey said that management plans to allocate the majority of the net proceeds from a recently closed oversubscribed private placement to exploration programs in the Philippines.<\/p>\n The Alicia project is located within a Declared Mineral Reservation determined by the Mines and Geosciences Bureau in 1995 and is on a granted Exploration Permit. According to Monterey, Greater Arc has identified a system of twelve veins hosting high-grade gold and base metal mineralization.<\/p>\n \u201cThe mineralized veins are up to 3.8 metres wide and up to 1.7 kilometres in length, with a combined strike length in excess of 11 kilometres,\u201d the media brief reads. \u201cHigh grade samples from shallow drilling into the Baloy Vein include 1.2m of 116 g\/t Au, 1,263 g\/t Ag, 6.3% Cu, 6.5% Zn, and 47.9% Pb; 1.5m of 40.9 g\/t Au, 437 g\/t Ag, 1.1% Cu, 3.6% Zn, and 62.9% Pb.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The Canadian miner acquired Greater Arc Pty Ltd to gain access to the Alicia high-grade gold and base metals project.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201641"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1201641"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201641\/revisions"}],"predecessor-version":[{"id":1201727,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201641\/revisions\/1201727"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1201641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1201641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1201641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n