Montoro Increases Strategic Claim Holdings in Rocky Mountain Rare Metal Belt
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 15, 2011) – 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.
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.
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