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MONTORO DRILLS 1.04 METRES GRADING 0.089% IN BRECCIA
AND PROPOSES A FURTHER 30 HOLE - $1 MILLION DRILLING PROGRAM
Further to our news release of December 17, 2007 International
Montoro Resources Inc. (“IMT”), announces additional
assay results from the first phase diamond drilling program (2755
metres) on the Serpent River property as 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.
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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 3- Breccia
Some of the holes intersected a highly altered and mineralized,
unsorted, heterolithic breccia at or near the unconformity between
the Huronian sediments and the older Archean basement. These rocks
contain 1% to 75% disseminated pyrite, pyrrhotite and chalcopyrite.
Thin section analysis of this material indicates that the alteration
assemblages comprise chlorite (to 82 modal %) sericite (to 15 modal
%) and biotite (to 7 modal %). The most significant intersection
occurred in hole P-07-02 where this unit was intersected over core
lengths of 15.96 metres and 11.5 metres. Holes P-07-01, P-07-06
and P-07-09 also intersected similar altered and mineralized rocks
exhibiting enhanced levels of radioactivity. Assays from these holes
are presented below:
| Hole # |
From (m) |
To (m) |
Interval (metres) |
ppm -U |
U3O8% |
| P-01 |
174 |
175.17 |
1.17 |
522 |
0.061% |
| P-02 |
125.70 |
126.70 |
1.00 |
179 |
0.021% |
| P-02 |
127.70 |
133.74 |
6.04 |
294 |
0.034% |
| Incl. |
132.20 |
133.24 |
1.04 |
768 |
0.089% |
| P-06 |
102.17 |
105.17 |
3.00 |
248 |
0.029% |
| P-09 |
106.49 |
108.49 |
2.00 |
164 |
0.019% |
| P-09 |
116.70 |
117.50 |
0.80 |
194 |
0.023% |
The alteration and mineralization of this breccia unit suggests
that it formed a permeable horizon that provided a conduit for the
flow of hydrothermal fluids possibly carrying uranium. Sulphide
mineralization in the breccia may have acted as a reductant that
precipitated the uranium from the hydrothermal fluids. The breccia
appears to follow an east – west fault zone postulated by
Robertson (1958) who mapped the area for the Ontario government.
Of the four holes listed above, P-1 and P-2 are closest to the fault
while holes P-6 and P-9 are further away. We feel this represents
a new style of mineralization not previously recognized in the Elliot
Lake area. That being said, we believe the altered breccia and the
fault are significant targets upon which to focus additional exploration.
An airborne VTEM survey is now ready to commence, which may help
to outline fault zones and possibly detect the more massive sulphide
mineralization. Mr. D. Hawke, M.Sc., P.Geo, consulting geologist
has also selected various intersections for additional assays in
platinum group elements (PGE’s), gold and other multi-elements,
as well as rare earths.
As a result of the phase one drilling program, Mr. D.Hawke has
recommended a further 30 holes (approx. 6000 metres) to be drilled
commencing as early as February 2008. A further 6 – 8 holes
to be drilled into the breccia fault, 12 holes continuing to infill
the former Rio Algom drilling area, and 6 – 8 new hole targets
expected to be outlined from the airborne survey. The estimated
cost of this enhanced drill program is $900,000 - $1 million.
The Company’s exploration work on the Serpent property is
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 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.
The Serpent River property is located about 13 kilometres 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 was once known as “the Uranium Capital of the
World” and has produced more than 270 million pounds
of U308 from stratigraphically-bound deposits that demonstrate remarkable
consistency over extensive areas.
About International Montoro Resources Inc.
International Montoro Resources is focused on the advancement of
its 100-percent optioned Elliot Lake uranium project in northern
Ontario and Cup Lake/Donen uranium project in south-central British
Columbia. In addition the Company (50/50) with Belmont Resources
Inc. has acquired significant uranium properties located in the
Central Mineral Belt Uranium District in Labrador (recently optioned
to Crosshair Exploration (TSX.V: CXX) 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.V:ULU). 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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