|By Marketwired .||
|February 20, 2014 09:00 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/20/14 -- International Montoro Resources Inc. ("Montoro") (TSX VENTURE: IMT)(PINKSHEETS: IMTFF)(FRANKFURT: O4T) - The Serpent River Property, Elliot Lake, Ontario claims consist of 10 mining claims (115 units) covering approximately 1,840 hectares located in Gaiashk & Joubin Townships. Recent renewed interest has been shown in the 3 upper northwest claims known as the Pecors Anomaly. Click following for maps/regional geophysical overview http://ow.ly/tNTbz.
Montoro congratulates Kelly Strong, V.P. of Ontario and UK Operations -Vale, in the recent startup of the Totten Mine (Totten lies 40 km to the west of Sudbury and approx. 50 km from Pecors). This is Vale's sixth operating mine in the Sudbury Basin. A polymetallic orebody with good nickel and copper grades as well as precious metals. Click following for the complete story: http://ow.ly/tLq2T. (See page 1 & 19-34 re the Totten Mine and page 15 re the KGHM Victoria Mine Projects)
The Uranium and Rare Earths discovered in the southwest portion at Serpent River may prove to be a sideshow to another deposit type. In a 2009 summary of the Ontario Geological Survey field work, a strong geophysical anomaly on the claims that was previously thought to be caused by an iron formation was reexamined. The new interpretation on the Pecors anomaly concludes it may be the result of contact style nickel-copper-PGE mineralization similar to that found to the east at Sudbury. Sediment sampling from Pecors Lake has shown high levels of nickel and chromium, lending further weight to this analysis. The total field magnetic anomaly strikes northwesterly and is about 15 km long and about 4 km wide.
Exploration & Development of the Pecors Anomaly:
-- Int. Montoro, Pele Mtn. & Verbina Resources completed a combined VTEM survey in January 2008. An operational report for this survey was written by the contractor Geotech Ltd. in February 2008, Project 7112. -- 2009 Ontario Geological Survey field work completed- Open File Report 6240; Project Unit 09-004. Compilation Mapping, Pecors-Whiskey Lake Area, Southern and Superior Provinces -- February 23, 2010 brief prepared by G. Campbell, MSc. - 'The Pecors Magnetic Anomaly located under Huronian Cover - A Possible Cu-Ni-PGE Target at the Archean-Proterozoic Boundary, Elliot Lake Area -- May 5, 2010; Int. Montoro commissioned a report on the southern claims group of the Serpent River Property from L.E. Reed Geophysical Consultant Inc. -- May 20, 2011; Int. Montoro initiates a search for and locates 4 historic boreholes PW #116, 117, 121 & 122 drilled by Rio Algom in 1959 on the eastern side of Pecors Lake. Holes PW 121 & 122 drilled along the south and southwestern edge of the Pecors Anomaly, penetrated the Huronian sediments and encountered underlying basement rocks at depths of 2002 feet (610 meters) and 1477 feet (450 meters) respectively. Information from the drill holes provides some corroboration of the depths from the 3D model as reported in the July 6, 2011 report following. -- July 6, 2011; Int. Montoro commissions a report 'Response of the Pecors Magnetic Anomaly' from L.E. Reed ("Reed") Geophysical Consultant Inc. Reed ran the anomaly through a 3 dimensional inversion program (UBC, Mag3D) to develop an understanding of the three-dimensional shape and distribution of the source body for this anomaly. Measurements through a section in the center of the anomaly show a depth of 300 to 400 meters to the top and as much as 1700 meters from surface to the bottom of the magnetic source body. It appears as a broad sill, possibly an intrusion. The maximum dimensions of the entire inversion block are estimated at 7.8 km EW x 3.45 km NS and 2.025 km from surface. Select portions of the Reed Interpretation report are posted on the updated Serpent River project page on the Company website at www.MontoroResources.com -- February 2014; Int. Montoro is actively engaging stakeholders in the Sault St. Marie & Sudbury Mining Districts to proactively move forward the exploration of the Pecors Magnetic Anomaly.
Neighboring explorer, Pele Mountain Resources (TSX VENTURE: GEM) , has provided the results of an updated economic review of its Eco Ridge Mine rare earth and uranium project in Elliot Lake, Ontario. In its news release dated September 12, 2013, Pele Mountain reports the economic review concludes that the recent increase in mineral resources extends mine life and improves project economics. While this improvement is offset by a reduction in rare earth price forecasts, the net result demonstrates that Eco Ridge economics remain positive.
Int. Montoro is also seeking interested parties in continuing the development of the Serpent River southern portion of its rare earth and uranium property adjoining Pele Mountain's claims east of Eco Ridge.
The Company has granted incentive stock options to its directors and consultants to purchase up to 3.45 million common shares of the Company, exercisable at a price of $0.05 per share for three years. The stock options will be granted in accordance with the Company's SOP and will have the required four (4) month hold period pursuant to the policies of the TSX Venture Exchange.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100% owned Serpent River - Elliot Lake, Northern Ontario, Uranium/REE project & Pecors magnetic anomaly - potential Ni-Cu-PGE. The property comprises 10 mineral claims (115 units) approx. 1,840 ha.
Montoro has also acquired a 100% interest in 23 mineral claims prospective for Rare Earth Elements, in 2 separate claim blocks covering 18,743 acres (7,585 ha) in the new Tacheeda Lake camp; and 3,330 acres (1,348 ha) Carbo area. Montoro also holds a 100% interest in 5,604 acres (2,268 ha, 5 claims - the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C.
In addition the Company will continue the development with Belmont Resources Inc. (50/50) of its Crackingstone - 2,.427 acres (982 ha) and Orbit -27,450 acres (11,109 ha) Uranium properties in the Uranium City District - Northern Saskatchewan.
For further information contact the Company at 604-683-6648. Also visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt).
ON BEHALF OF THE BOARD OF DIRECTORS,
Gary Musil, President, CEO/Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.
International Montoro Resources Inc.