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NORANDA INC. AND SLAM EXPLORATION J.V. ENCOURAGES
BATHURST EXPLORATION
A recently announced joint venture between Noranda Inc. and Slam
Exploration Ltd. to carry out a proposed $25 million exploration
program in the world-class Bathurst Mining Camp is very encouraging
to Montoro. As part of this exploration project during the next
few months most of the Bathurst Camp will be covered by the newest
available airborne geophysical survey (MegaTEM electromagnetics),
seismic and magneto-telluric induced polarization systems. These
systems enable highly reliable testing to much greater depths than
previous surveys, while at the same time, dramatically reducing
the exploration cycle and increasing the efficiency of exploration
dollars.
Montoro has received a letter from Noranda Inc. indicating that
due to technical requirements of the survey they may be flying over
property held by Montoro and other third party claim holders. As
a courtesy, Noranda will provide a copy of the survey results over
our property when they become available.
Montoro has been further encouraged by the recent news article
in the January 29/04 Financial Post: “Cobalt’s price
has quadrupled and it’s all thanks to cell phones. Can’t
get enough of that cobalt. The cell phone boom is producing new
demand for cobalt, a relatively obscure mineral that miners are
often content to stockpile and forget. A pound of cobalt cost less
than US $8 a pound a year ago. It now, sells for almost US $30 a
pound – if buyers can find some.” The article continues.
If you would like a copy of this complete article, please call or
email and we would be pleased to fax you a copy.
Montoro is awaiting cobalt, copper and other assay results from
118 samples (118.5 metres) of diamond drill core sent for ICP 70
multi-element, and fire assaying for gold.
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