Montoro Finds Renewed Interest in Its Pecors Magnetic Anomaly-Serpent River Property Near Elliot Lake, Ontario
February 20 2014 - 8:00AM
Marketwired Canada
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.
Other:
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.
Options Granted:
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
International Montoro Resources Inc.
604-683-6648
www.MontoroResources.com
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