Posted in | News | Uranium | Mining Business

Montoro Awarded Exploration Permit for Serpent River-Pecors Anomaly Project

Montoro is pleased to announce receipt of the exploration permit for its Serpent River - Pecors Anomaly Project. This permit is subject to the requirements of the Mining Act, Ontario Regulation 308/12, the applicable Provincial Standards for Early Exploration, and additional Terms and Conditions in the permit that are specific to this project. The permit is effective for a period of three (3) years.

Previous geophysical reports commissioned by Montoro to review the VTEM survey conducted over the Serpent River property and in particular the Pecors Anomaly, have indicated that there is one electromagnetic response that could reflect a deep-seated conductor. In addition, the magnetic anomaly was further imaged (3D) so one better appreciates the shape and extent of the source body so that other potential sites of Cu-Ni-PGE, Co & Cr mineralization can be interpreted and proposed for drilling http://ow.ly/Ev9au. Data interpreted from the airborne geophysical survey suggests that the anomaly is an estimated 7 km long, 3 km wide, and 2 km deep http://ow.ly/Ev72S.

Drilling is anticipated as soon as possible. Helicopter drill site preparations will begin as soon as a suitable drilling contractor is secured. For a further project overview see http://ow.ly/EvbqF.

Further to our news release of July 25, 2014, the Company is continuing to receive subscriptions for its flow-through unit financing at $0.12 per unit. Each unit will consist of one flow-through common share and a one year transferable (non -flow through) share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of one year at a price of $0.18 per share. The Company will pay a finder's fee of up to 7.5% in cash or warrants. The financing will be subject to TSX Venture Exchange acceptance.

Source: http://www.montororesources.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.