MONTORO EXPANDS EXPLORATION FOR HIGHER GRADE REMOBILIZED URANIUM
AT ELLIOT LAKE
Airborne VTEM Survey Completed
International Montoro Resources Inc. (TSX Venture: IMT), “Montoro”
or the “Company”) announces that an airborne VTEM survey
has been completed as part of Montoro’s expanding exploration
program to target higher grade remobilized uranium at its Serpent
River, Elliot Lake uranium project in Northern Ontario.
Montoro’s recently completed Phase One drilling encountered
a highly altered and mineralized, unsorted, heterolithic breccia
unit (HBU) at or near the unconformity between the Huronian sediments
and the older Archean greenstone basement. The alteration and mineralization
of this HBU suggests that it formed a permeable horizon that provided
a conduit for the flow of hydrothermal fluids possibly carrying
uranium. The breccia appears to follow an east – west fault
zone postulated by Robertson (1958) who mapped the area for the
Ontario government. Earlier mineralogical analyses and assays have
indicated that the HBU can host remobilized uranium mineralization,
suggesting the potential to discover a zone with higher grades than
the historical grades mined in conglomerates in the Elliot Lake
area.
The airborne “VTEM” electromagnetic data will be analysed
for conductors, representing possible sulphide or graphitic zones
that may signify reductants capable of concentrating remobilized
uranium. Preliminary plots of this data reveal the existence of
at least 8 conductors in areas underlain by Huronian sediments.
There are no known conductive units in the sediments in this area
suggesting that the conductors may be caused by features in the
greenstone basement rocks. A more detailed analysis of the geophysical
results will be undertaken when the final plots are received from
the contractor.
As a result of the Phase One drilling program and the airborne
survey, Mr. D.Hawke, M.Sc.,P.Geo., consulting geologist has recommended
an additional 30 holes (approx. 6000 metres) to be drilled commencing
as early as February 2008. A further 6 – 8 holes to be drilled
into the HBU and associated fault, 12 holes continuing to infill
the former Rio Algom drilling in the Pecors channel, and 8 –
10 holes on targets 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. This press release has
been reviewed and approved by D. Hawke, P.Geo.
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 (Crackingstone-982
ha & Orbit Lake-11,109 ha) in the Uranium City District in Northern
Saskatchewan (recently optioned the Orbit -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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