|
FURTHER POSITIVE DRILLING RESULTS OBTAINED FROM 2ND PHASE DRILLING - COBALT/COPPER PROSPECT NEAR BATHURST
Further to our news release of May 14, 2004 wherein Montoro reported completion of an additional 5 hole drill program (675 metres), we are pleased to report a summary of the significant intersections.
M04-05
This hole drilled to 197.7 metres in depth was located 50 metres grid east of hole M04-04, to test the down dip extension of the Smith Zone (0.176 % Co & 0.176 % Cu over 24.8 m) encountered in M04-04. Significant intersections:
| From |
To |
Interval |
Assays |
| 28.4 |
34.5 |
6.1m |
0.31% Co, 0.05% Cu, 0.11% Ni & 105 ppb Au |
| 95.4 |
103.7 |
8.3 m |
0.11% Cu & 172 ppb Au |
| includes |
|
|
|
| 102.7 |
103.7 |
1.0 m |
0.59% Cu |
M04-06
This hole was drilled to a depth of 143.5 metres and was located 78 metres along strike to the northeast of the Smith Zone (hole M04-04) and was designed to test the strike extension of the Smith Zone. Significant intersections:
| From |
To |
Interval |
Assays |
| 21.0 |
22.0 |
1.0 m |
0.31% Co, 0.11% Cu & 116 ppb Au |
| 38.0 |
39.0 |
1.0 m |
0.14% Co, 0.57% Cu & 311 ppb Au |
| 59.0 |
67.0 |
8.0 m |
0.16% Cu |
| 75.0 |
76.0 |
1.0 m |
0.13% Co, 0.11% Cu |
| 84.0 |
90.0 |
6.0 m |
0.20% Co, 0.11% Cu |
| 102.4 |
110.5 |
8.1 m |
0.29% Cu |
| includes |
|
|
|
| 102.4 |
103.8 |
1.4 m |
0.95% Cu & 222 ppb Au |
M04-07
This hole was drilled to a depth of 93.5 metres and was located 110 metres along strike to the southwest of the Smith Zone (hole M04-04) and was designed to test the strike extension of the Smith Zone. Significant intersections:
| From |
To |
Interval |
Assays |
| 65.0 |
68.0 |
3.0 m |
0.19% Cu & 81 ppb Au |
M04-08
This hole was drilled to a depth of 147.5 metres and was located on L 5 N to test the down dip extension of the Main Zone uncovered in previous trenching. Significant intersections:
| From |
To |
Interval |
Assays |
| 55.0 |
58.0 |
3.0 m |
0.04% Co &0.21% Cu |
M04-09
This hole was drilled to a depth of 93.0 metres and was located 68 metres grid west of M04-04. This hole was drilled grid east and designed to under-cut holes M04-04 and M04-05 from the opposite direction. Significant intersections:
| From |
To |
Interval |
Assays |
| 62.0 |
65.0 |
3.0 m |
3.0 m 170 ppb Au |
| 67.0 |
70.0 |
3.0 m |
0.20% Cu |
| 72.0 |
74.3 |
2.3 m |
0.09% Co & 0.15% Cu |
Based on these results Montoro has confirmed an extension of the previously reported presence of significant cobalt mineralization on the Malachite property
Drilling indicates that the cobalt, copper and gold mineralized zone within the altered rhyolite on the Malachite Property has a strike length of at least 600 metres and a vertical depth of approximately 70 metres. This recent round of drilling was concentrated around the Smith Zone and Main Zone. Analysis of the drill core indicates the mineralized zone is significantly anomalous in nickel and gold as well as the previously reported cobalt and copper. This zone is untested at depth and along strike.
A Phase III exploration program consisting of a deep penetrating EM survey with follow-up drilling is recommended.
The above information was provided by our independent project supervisor Mr. Doug Clark. Mr. Clark is a qualified person under the definition established by National Instrument 43-101, is an accredited Professional Geoscientist and a member in good standing with the Association of Professional Engineers and Geoscientists in New Brunswick.
|