|
BATHURST, NEW BRUNSWICK – COBALT/COPPER EXPLORATION
UPDATE
Montoro Resources Inc. (TSX Venture Exchange “MNQ”)
is pleased to provide an update on our January 14, 2004 News Release.
Montoro Resources Inc. has completed 4 shallow diamond drill holes
totalling 446.5 metres on the Malachite Property in northern New
Brunswick. Two holes (M04-01 & M04-03) where drilled in the
Main Zone which contained previous assays of up to 0.1% cobalt and
2.06% copper; another hole (M04-02) was drilled 100 metres grid
north of the Main Zone and the last hole (M04-04) was drilled 530
metres grid north of the Main Zone along a property scale VLF conductor
coincident with the Main Zone.
Drill holes, significant mineralization and alteration are summarized
below:
Hole M04-01: L5+05 N, 0+12W -45° -> 300°
130.5 metres
Hole collared in carbonatized (ankeritic) rhyolite containing
2-5%, 3-4 cm wide veins of massive pyrite +/- chalcopyrite. This
intersection most probably correlates with the Main Zone. Geology
of the hole was predominantly altered rhyolite in contact with sediments
to the west and intruded by minor gabbro dykes. Assays pending.
Hole M04-02: L6+00 N, 0+10W -45° -> 300°
111 metres
Hole collared in carbonatized (ankeritic) rhyolite containing minor
pyrite veinlets. Similar geology to M04-01. Although the hole showed
moderate to strong alteration, no significant mineralization was
obvious. Assays pending.
Hole M04-03: L5+00 N, 1+00E -45° -> 300°
110 metres
Hole collared in carbonatized (ankeritic) rhyolite containing 0.5
to 2% pyrite as aggregates. Similar geology to M04-01. The hole
showed moderate to strong alteration increasing down hole and contained
weak to moderate pyrite mineralization throughout. This hole is
believed to have stopped before intersecting the Main Zone. Assays
pending.
Hole M04-04: L10+32 N, 0+10W -45° -> 296°
95 metres
Hole collared in intensely carbonatized (ankeritic) and silicified
rhyolite and intersected a 29 metre zone of highly altered and mineralized
rhyolite. The zone contained 3-5% pyrite veins, up to 3 cm, cut
by later chalcopyrite veinlets making up approximately 0.5 to 1%
of the rock. Locally this section contains 3-5% chalcopyrite over
shorter intervals. Assays pending.
The preliminary results are visual and 118 samples (118.5 metres)
of the core has been split and sent for assaying to X-RAL Labs in
Ontario for ICP 70 Multi-element and fire assaying for Gold. Assaying
results are expected within two to three weeks and a further summary
of the drilling will be available at that time.
The above information was provided by our independent project supervisor
Mr. Doug Clark. Mr. Clark is an accredited Professional Geoscientist
and a member in good standing with the Association of Professional
Engineers and Geoscientists in New Brunswick.
As a result of the encouraging visual results of the 29 metre zone
of mineralization intersected in hole M04-04, Montoro has staked
an additional 16 claims (approximately 270 hectares) along strike
to the northeast.
|