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MONTORO INTERSECTS RIO ALGOM GRADES IN FIVE MORE
HOLES; FURTHER ASSAYS PENDING
International Montoro Resources Inc. (“IMT”), today
announced, further to its news release of November 12, 2007, additional
assay results from the first phase of its diamond drilling program
(2,755 metres) on the Serpent River property which were recommended
in the NI 43-101 compliant Technical Report (the “Report”)
by Scott Wilson, Roscoe Postle Associates Inc. (“Scott Wilson
RPA”) dated March 20, 2007.
Phase One drilling encountered enhanced levels of radioactivity
(detected by scintillometer) in three different environments;
1) Pyritic quartz pebble conglomerate (QPC) beds:
2) Aplite dikes and sills; and
3) Mineralized, highly altered heterolithic breccia at or near the
unconformity.
Type 1 -QPC
The average assays from 5 holes (P-07-03, -04, -05, -07, & -010)
that intersected mineralized quartz pebble conglomerate (QPC) is
0.030% U (0.035% U308) over an average width of 1.17 metres. Calculations
from the following:
Hole Number From (m) To (m) Interval ppm –U U308
P-07-03 119.48 121.01 1.53 metres 317 0.037%
P-07-04 149.85 152.10 2.25 metres 245 0.029%
P-07-05 139.35 139.95 0.60 metres 312 0.036%
P-07-05 141.47 142.00 0.53 metres 791 0.092%
P-07-05 142.50 142.95 0.45 metres 287 0.034%
P-07-07 122.50 123.50 1.00 metres 192 0.022%
P-07-07 124.00 125.00 1.00 metres 217 0.025%
P-07-07 125.50 126.90 1.40 metres 345 0.040%
P-07-10 47.00 48.70 1.70 metres 149 0.017%
A more detailed chart of these 5 holes will be prepared and posted
on the website for review later. Gary Musil, President and CEO stated,
“The Company is encouraged that the results obtained thus
far are in substantial agreement with the average grade for a historical
resource calculated by Rio Algom and that additional work may confirm
their estimate.” Rio Algom estimated the Pecors East Zone
contained an indicated resource of 20 million tons grading 0.037%
(0.74 lbs/t) U308 or 14.8 million lbs U308. However, this estimate
predates, and therefore does not conform to, the more stringent
reporting requirements of National Instrument 43?101 and should
not be relied upon according to those standards. IMT is not treating
the historical estimates as a current mineral reserve or resource.
Type 2 - Aplite
Aplite dikes and sills were often intersected near the unconformity.
Some were mineralized with disseminated pyrite with exhibited enhanced
levels of radioactivity. Previously reported:
Hole Number:
P-07-10 From 39.60 m To 42.08m Interval 2.48 metres - 0.04% U308
(329 ppm U)
Incl. P-07-10 From 41.80 m To 42.08m Interval 0.28 metres - 0.17%
U308 (1420 ppm U)
Type 3 - Breccia
Some of the holes intersected a highly altered (chlorite, biotite,
sericite) and mineralized, unsorted, heterolithic breccia at or
near the unconformity between the Huronian sediments and the older
Archean basement. These rocks contained 1% to 75% disseminated pyrite,
pyrrhotite and chalcopyrite. Compilation of the results of P-07-01,
-02, -06 and –09 is forthcoming.
The Serpent River property is located about 13 km east of the town
of Elliot Lake on the south limb of the Quirke syncline and covers
approximately 4,000 m of the contact between the Matinenda Formation
and the underlying basement rocks. The Elliot Lake mining camp,
once known as “the Uranium Capital of the World”, has
produced more than 270 million pounds of U308 from stratigraphically-bound
deposits that demonstrate remarkable consistency over extensive
areas.
The Company’s exploration work on the Serpent property is
being supervised by D. Hawke, M.Sc., P.Geo., consulting geologist
and a Qualified Person as defined in NI 43-101. Drill core is being
transported from the drill sites by company personnel to a secure
offsite storage area for logging and splitting. Split drill core
samples are being transported by commercial carrier to Activation
Laboratories in Ancaster, Ontario. Activation Laboratories is accredited
to the ISO 17025 standard and CAN-P-1579 standards. Assay results
will be reported as soon as they are received and compiled by the
Company.
About International Montoro Resources Inc.
International Montoro Resources is focused on the advancement of
its 100% optioned Elliot Lake uranium project in northern Ontario
and Cup Lake/Donen uranium project in south-central British Columbia.
In addition, the Company with Belmont Resources Inc. (50/50) has
acquired significant uranium properties located in the Central Mineral
Belt Uranium District in Labrador (recently optioned to Crosshair
Exploration (TSX VENTURE:CXX - News) and two claim blocks in the
Uranium City District in Northern Saskatchewan (recently optioned
the Orbit Lake-11,109 ha block to Ultra Uranium (TSX VENTURE:ULU
- News). Through project generation and additional discoveries,
Montoro will provide shareholders with exposure and leverage to
the rising global demand for uranium.
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