Montoro Substantially Increases Tacheeda Lake Rare Earth Element Prospect
October 04 2011 - 9:00AM
Marketwired
International Montoro Resources Inc. ("Montoro") (TSX
VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has entered into an
agreement to acquire an additional 11 claims - 4,278.52 hectares
(the "Rocky" group) adjoining and surrounding its "Tacheeda NW"
Rare Earth Element prospect located in 'The Rocky Mountain Rare
Metal Belt' of northern British Columbia, and contiguous to claims
held by Spectrum Mining Corp.
The southwest portion of Montoro's newly acquired Rocky group
was historically explored by Teck Corporation to cover a
sedimentary exhalative target based on results of a regional
program carried out in the area. The 1992 regional program outlined
Zn and Pb soil anomalies. A 1993 program was subsequently carried
out to further define the 1992 program, confirm the anomalies by
geophysics and geologically map the property.
(See Assessment Report #23,027 at:
http://aris.empr.gov.bc.ca/ArisReports/23027.PDF)
The soil survey outlined a 1.6 km long northwest trending
multi-element Pb, Zn, Ag and Ba anomaly open in both directions.
Values ranged up to 94 ppm Pb, 2498 ppm Zn, 11.1 ppm Ag and 2400
ppm Ba, significantly anomalous in this till covered
environment.
The Rocky group surrounds Montoro's existing Tacheeda Lake
claims acquired in 2010 (November 24, 2010) and the Tacheeda Lake
Project owned by Spectrum Mining Corp., which was believed to cover
a buried carbonatite (Cominco 1986, Tacheeda Lake). This
acquisition more than doubles the size of Montoro's existing
Tacheeda Lake REE property bringing the total size to over 7,580
hectares (18,730 acres) and contains a 93.41 hectare (231 acre)
claim called "Quite the Little Pit" that previously produced
limestone.
Terms of the Agreement to acquire 100% interest are: Cash
payment of $2,500 and issuance of 400,000 units (each unit
comprised of one common share of IMT and one share purchase warrant
entitling the holder to purchase one additional share of IMT for a
period of two years from issuance at a price of $0.10 in year one
and $0.15 in year two). The Agreement is subject to regulatory
approvals.
This press release has been reviewed and approved by Neil
McCallum, P.Geo., a qualified person as defined in NI 43-101.
About International Montoro Resources Inc.
Montoro recently acquired a 100% interest in 12 mineral claims
prospective for Rare Earth Elements, in 2 separate claim blocks
covering 11,500 acres (4,654 ha), in the new Tacheeda Lake camp and
Carbo area. Montoro holds a 100% interest in 5,604 acres (2,268 ha,
5 claims - the Chuchinka property) contiguous to and adjoining the
Wicheeda, a recently reported Rare Earth discovery, northeast of
Prince George, B.C. Montoro is also focused on advancing its 100%
optioned Elliot Lake uranium/REE project in northern Ontario. 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. The Company also
holds two claim blocks (50/50 with Belmont) in the Central Mineral
Belt in Labrador. The Companies have recently optioned one claim
block to Rare Earth Metals Inc. in the historical Letitia Lake-Red
Wine rare earth metals camp of west-central Labrador.
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
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.
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.
Contacts: Ethos Consulting Ltd. Investor Relations
1-888-818-1365 International Montoro Resources Inc.
604-683-6648www.MontoroResources.com
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