Apr 20 2015
International Montoro Resources Inc. (the "Company" or "Montoro") is pleased to report that drilling of the first hole at the large Pecors magnetic/gravity anomaly continues. Of particular importance, this initial hole has intersected a thick, medium to coarse grained gabbro unit featuring two distinct zones of disseminated sulphides, reinforcing the geophysical and geochemical evidence that the Pecors target may host a new deposit type (Ni-Cu-PGE) in northern Ontario's Elliot Lake mining camp west of Sudbury.
Latest highlights of the current program are as follows:
- Further to the news release of April 9, 2015, a second mineralized interval containing 1-3% (visually estimated) disseminated pyrrhotite and chalcopyrite has been intersected at a depth between 916 metres and 933 metres
- La Montagne Geophysics Ltd. will immediately execute a downhole probe BH UTEM geophysical survey of this first hole after drilling is completed to a depth of just beyond 1000 meters (current depth is 996 metres)
- Drilling of a second hole, collared approximately 650 metres to the northwest, will commence immediately upon completion of hole #1
Gary Musil, President and CEO of Montoro Resources, commented: "Core samples are being prepared to be sent to the lab for analysis. We're highly encouraged that in our first-ever drill hole at Pecors we've intersected such a thick gabbro unit (nearly 400 metres), the desired host rock, with visible sulphides after penetrating the Huronian sediments. Also, there is evidence that a remobilization process has occurred in this magmatic system. Pecors is indeed a favorable setting for potentially rich nickel-copper-PGE mineralization which marks a significant advancement of the exploration model for the district."
Don Hawke, PGeo., and the Company's consulting geologist added: "The sulphides in the second interval were interstitial to the cumulus plagioclase and pyroxene crystals which are interpreted to mean that an immiscible sulphide liquid was present at the time the magma was intruded. This suggests that accumulations of massive copper-nickel sulphide mineralization could occur elsewhere within the gabbro. A 78-metre section from 670 metres to 748 metres, contained <1% (visually estimated) stringer pyrrhotite, chalcopyrite and pyrite mineralization."
Qualified Person
The above information has been reviewed and approved by Don Hawke, MSc., P.Geo, consulting geologist for Montoro and a Qualified Person as defined by National Instrument 43-101 regulations.
Final Round of Financing Closes
The Company is also pleased to report that it has closed the third and final tranche of a financing previously announced for 8 mil. Units at $0.07/unit. The third tranche was subscribed for 1,665,000 units ($116,550), oversubscribed by 142,000 units, and subject to TSX Venture Exchange approval.
Pecors Site Visit
New photos have been posted to the website showing the Pecors drill site and surrounding area at www.MontoroResources.com
TSX - The View from the C-Suite
To view the Montoro CEO video interview conducted in Toronto at The Exchange Tower, please visit the following URL:
https://www.youtube.com/watch?v=-MGU_yD-fGI
The CEO interview is also available at www.MontoroResources.com and the TSX website at http://www.tmxmoney.com/en/news/csuite.html. These interviews provide information about companies, and objectives they aim to achieve, or have achieved.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu discovery. The southwestern portion of the property has also located Uranium/REE mineralization from drilling in the general area where Rio Algom previously discovered uranium. The property comprises 10 mineral claims (115 units), approx. 1,840 ha.
Montoro holds a 100% interest in 2,268 ha (5 claims, 5,604 acres, the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C. Montoro also holds a 100% interest in 3 mineral claims (160 ha) in the Tacheeda Lake camp. This property was previously a producing site of limestone ballast used during the construction of the B.C. Northern railway.
In addition the Company owns with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, President, CEO/Director
Source: http://www.montororesources.com/