|
MONTORO-BELMONT UPDATE ON THE CENTRAL MINERAL BELT,
URANIUM DISTRICT, LABRADOR PROPERTIES
International Montoro Resources Inc.(“IMT”) and Belmont
Resources Inc. (“BEA”) (Montoro-Belmont JV) have signed
an amended agreement for the acquisition of new claims in the CENTRAL
MINERAL BELT (“CMB”) URANIUM DISTRICT, LABRADOR.
During the preliminary evaluation and due diligence in preparation
for initial sampling and exploration of the four claim blocks (126
units) as detailed in our news release of April 19,2006 it was discovered
that the Ruza claims had lapsed. Ruza had inadvertently failed to
submit the first year’s assessment work reports in the time
required. With the assistance of Mr. James G. Burns, P.Eng, Consulting
Geologist on location at the time in St.John’s, Newfoundland-Department
of Natural Resources, Mines Branch offices ; Burns and Ruza arranged
the staking of three new geologically and strategically located
claim blocks (128 units-32.0 square km). These units are the composition
of the amended agreement. No new or additional changes were made
in the terms of the agreement.
The three licence blocks comprise two properties; Stormy Lake (Otter
Lake) totals 105 units (26.25 square km.), and Partridge River (Isabella
Falls) totals 23 units (5.75 square km.). They are located 95 km
NW and 165 km WNW, respectively, from Goose Bay, Labrador.
The Stormy Lake group is located in an area surrounded by a land
package being explored by Aurora Energy Resources Inc.—“AXU”
(Altius Mineral Corporation – “ALS” and Fronteer
Development Group Inc. –“FRG”). The Aurora Energy
--Altius/Fronteer land package comprises some of the most active
uranium exploration projects ( ie. Michelin, Moran Lake, Post Hill
Deposits) in the ‘Central Mineral Belt’ uranium district
of Labrador. Longview Strategies Inc./Bayswater Uranium Corp.--
“BAY” and Crosshair Exploration & Mining Corp. –“CXX
also have adjacent land holdings and are conducting exploration
near the Stormy Lake block.
The Partridge River claims are located nearby areas being explored
by Tripple Uranium Resources (recently optioned claims to Universal
Uranium Ltd.—“UUL” and Silver Spruce Resources
Inc. “SSE” exploring jointly with Universal Uranium.
Both Crosshair and Aurora have released significant findings in
the Central Mineral Belt and as a result of these exploration results
and the rise in the price of uranium, the CMB has seen extensive
claim staking over the past few months.
Further specific details on the merit and potential of the Stormy
Lake and Patridge River claims are expected soon upon receipt and
filing of the NI 43-101 report commissioned from James G.Burns,
P.Eng.,Consulting Geologist.
|