Montoro Increases Strategic Claim Holdings in Rocky Mountain Rare Metal Belt
November 15 2011 - 8:00AM
Marketwired
International Montoro Resources Inc. ("Montoro") (TSX
VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has acquired through
staking an additional 4 claims covering over 4,500 acres, due west
of its previously acquired Carbo group in 'The Rocky Mountain Rare
Metal Belt' northeast of Prince George, British Columbia.
Montoro now controls over 31,000 acres (12,605.73 ha) consisting
of 32 claims in three separate claims blocks as follows:
Chuchinka - 100% interest in 5,604 acres (2,268 ha, 5 claims)
contiguous to and adjoining the Wicheeda rare earth discovery.
IMT's first acquisition is on trend to the northwest and adjoins
the Wicheeda property owned by private company Spectrum Mining
Corp. In 2009 Spectrum reported a significant discovery where 11
drill holes intersected very encouraging mineralization. The best
drill intercepts included 48.64 metres grading 3.55% rare earth
elements, 72.0 metres of 2.92% REE's and 144.0 metres of 2.20%
REE's. Electric Metals Inc. ("EMI") has an option to earn a 75%
interest in these claims through cash payments of $340,000 and
700,000 in shares over three years and exploration totaling
$425,000 over the same period. In 2010, EMI completed a 654 line km
AeroTEM helicopter-borne electromagnetic plus radiometric survey
covering a 29.4 sq. km area and was successful in mapping several
anomalies, the largest of these measuring 4 km by 1 km. In 2011,
EMI tested four grids spanning 2 square km of highly prospective
ground, collecting more than 2,000 soil and grab samples.
Geochemical sampling of soils and bedrock, together with
ground-based geophysics in the form of precision magnetometer and
scintillometer surveying were applied to identify the most
prospective portion of this and other REE targets in preparation
for trenching and drilling. Results are pending. These claims are
surrounded by numerous other companies such as Canadian
International Minerals Inc., Bolero Resources Corp., Alix
Resources, Arctic Star Exploration Corp., and Remstar Resources;
all of whom are conducting exploration programs ranging from
sampling, trenching to airborne surveys and drilling programs.
Canadian International is completing approx. 3200 metres -16 holes
on its Carbo property. Bolero recently completed over 4,000 line km
of a geophysical and radiometric airborne survey and has commenced
drilling on the Carbonatite Syndicate, contiguous to Canadian
International Minerals.
Carbo Mtn. - 100% interest in two claims blocks totaling 6,802
acres (2,752.69 ha, 7 claims) directly northwest of Chuchinka.
These claims are adjoining Arctic Star Exploration Corp. and Bolero
Resources Corp., both companies having recently completed
helicopter airborne surveys surrounding the Carbo Mtn. property.
Arctic Star preliminary results have identified several radiometric
anomalies on the Cap property, which are considered to be high
priority with respect to the other surveyed properties in the Carbo
area. Further results are pending from both companies.
Tacheeda Lake - 100% interest in 18,743 acres (7,585.04 ha, 20
claims) and surrounding an additional claim block owned by Spectrum
Mining Corp. The Spectrum claims were believed to cover a buried
carbonatite (Cominco 1986, Tacheeda Lake). IMT recently completed a
989 line km magnetic and radiometric airborne geophysical surveys
over 3300 ha of this claim block (results pending). The southwest
portion of the Tacheeda (the "Rocky" group of claims) was
historically explored by Teck Corporation in 1992/93 to cover a
sedimentary exhalative target based on results of a regional
program which outlined Ag, Pb, Zn and Ba anomalies over a 1.6 km
long northwest trend (See IMT news release dated October 4,
2011).
The northeastern portion of the property contains a 231 acre
(93.41 ha) claim called "Quite the Little Pit". B.C. Rail initially
quarried some of the limestone for railway ballast. Diamond
Limestone Ltd. mapped and sampled the area and proposed developing
the deposit to supply agricultural limestone. The Tacheeda Lake
limestone prospect lies within a belt of Lower Cambrian limestone
and dolomite with minor quartzite and slate. The belt trends
northwest for 41 km and varies up to 5 km in width (B.C. Minfile
#093J 019).
About International Montoro Resources Inc.
Rocky Mountain Rare Metal Belt:
Montoro recently acquired through staking 1,404 ha - 4 claims.
Montoro now owns 31,149 acres (12,605.73 ha - 32 claims, one of the
largest holders in the belt. Montoro's most advanced block, is its
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 Element discovery, northeast of Prince George,
B.C.
Elliot Lake, Ontario:
Montoro is also focused on advancing its 100% owned Elliot Lake
uranium/REE project in northern Ontario. The Company is also
further investigating a very positive interpretation of a large
airborne anomaly, near Pecors Lake in the northwest corner of our
Serpent River property. The dimensions of the entire inversion
block are estimated at 7.8 km EW x 3.45 km NS and 2.025 km from
surface.
Saskatchewan & Labrador:
Montoro 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, one of which is located 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. Gary Musil
President, CEO/Director 604-683-6648 604-683-1350
(FAX)www.MontoroResources.com
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