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NEW BRUNSWICK GOV’T EXPLORATION GRANT AWARDED
Montoro Resources Inc. (“MNQ”) is pleased to announce
that we have been approved for up to a $40,000 exploration grant
under the New Brunswick Junior Mining Assistance Program (NBJMAP).
This is the second year Montoro was awarded such a grant. The grant
in two stages, will allow Montoro to proceed with the Phase II recommended
work on the Malachite (cobalt/copper) property, west of Bathurst,
New Brunswick.
The Phase II programme includes further trenching of the Main Zone
along strike and diamond drilling. A 30 metre wide mineralized zone
(Main Zone) in the rhyolite shows areas of brecciation with 3 –
5% chalcopyrite stringers and abundant malachite with some bluish
co-oxide and manganese along the fractures. Best grab assays compiled
during the 2002 exploration program from the Main Zone include sample
#57286 (1,080 ppm) 0.1% Co, 0.6% Cu; sample #57289, 172 ppm Co and
(13,000 ppm) 1.3% Cu; and sample #57293, 341 ppm Co and (20,800
ppm) 2.08% Cu. The Main Zone is coincident with a property scale
VLF conductor that crosses the entire grid.
If Phase II returns encouraging results it is recommended that
a Phase III programme be initiated that includes more trenching
and diamond drilling along the Main Zone as well as an IP geophysical
survey to delineate areas of high sulphide mineralization along
the Main Zone and possibly elsewhere on the property.
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