May 14, 2010
May 14, 2010, International Montoro Resources Inc. (the “Company”) (“IMT”- TSX Venture) completed five holes (882 meters) of diamond drilling on the Company’s Serpent River property. The drill program was prematurely terminated due to adverse spring weather conditions. The property is located about 13 km east of the town of Elliot Lake, that was the center of Rio Algom’s uranium production in the area from the 1950s through the 1970s.
Montoro’s 1st phase 2,755 m drill program at Serpent River found uranium values in three different lithological environments. Of the five holes in the 1st phase that intersected the mineralized quartz pebble conglomerate (QPC), assays were consistent with the average historical grades in the camp, but below the conglomerate beds IMT intersected mineralized aplite dykes and sills, as well as highly altered mineralized breccia at the unconformity between the Archean basement rocks and overlying Proterozoic sediments.
The mineralized breccia unit was not intersected by any of the holes that were recently drilled. However, mineralized conglomerate was intersected and a sulphide rich unit was encountered at the unconformity between the Huronian sediments and the underlying Archean volcanics.
Significant intercepts are tabulated below and all are from quartz pebble conglomerate units.
TREE (total Rare Earth elements) + Y (Yttrium)
Hole |
From |
To |
Interval (m) |
TREE (ppm) |
TREE (%) |
U (ppm) |
| P-10-17 | 99.27 |
100.25 |
0.98 |
1606.4 |
0.16 |
367.1 |
| P-10-18 | 93.26 |
94.00 |
0.74 |
2898.1 |
0.29 |
564.5 |
| P-10-18 | 98.00 |
100.04 |
2.04 |
1428.1 |
0.14 |
179.1 |
| P-10-20 | 106.89 |
107.89 |
1.00 |
1691.3 |
0.17 |
416.7 |
The samples were analyzed by AGAT Laboratories in Mississauga, Ontario, an independent ISO 17025 accredited lab.
The range of values for the various elements were: Y(Yttrium) 0.5 to 165.6 ppm; La (Lanthanum) 0.75 to 808.7 ppm; Ce (Cerium) 1.3 to 1516.0 ppm; Pr (Praseodymium) 0.18 to 149.0 ppm; Nd (Neodymium) 0.5 to 558.9 ppm; Sm (Samarium) 0.13 to 112.52 ppm; Eu (Europium) <0.03 to 10.47 ppm; Gd (Gadolinium) 0.11 to 229.57 ppm; Tb (Terbium) 0.03 to 9.6 ppm; Dy (Dysprosium) 0.06 to 40.47 ppm; Ho (Holmium) 0.01 to 6.41 ppm; Er (Erbium) 0.03 to 18.39 ppm; and Tm (Thulium) <0.01 to 2.31 ppm.
Further drilling will target the mineralized and altered breccia particularly where it is cut by a prominent fault zone and recently mapped by the Ontario Geological Survey branch from Sudbury.
The Elliot Lake mining camp, once known as the “Uraniium Capital of the World”, has produced more than 300 million pounds of U3O8 from stratigraphically-bound deposits that demonstrated remarkable consistency over an extensive area. Elliot Lake was also a global producer of the Yttrium during the 1980’s as a by-product of uranium production. Allthough Yttrium was the primary REE produced, the development of many new applications has created a growing demand for the full range of REE’s.
This press release has been reviewed and approved by Don Hawke, M.Sc., P.Geo.,
consulting geologist and a qualified person as defined in NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
”Gary Musil”
Gary Musil, President
CEO/Director
About International Montoro Resources Inc.
International Montoro Resources Inc. is focused on advancing its 100% optioned Elliot Lake uranium project in northern Ontario. In addition the Company is continuing development with Belmont Resources Inc. (50/50) of its Crackingstone –982 ha and Orbit –11,109 ha uranium properties in the Uranium City District – Northern Saskatchewan. The Company also holds 100% interest in the Cup Lake/Donen uranium project in south-central British Columbia and two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador.
For further information phone 604-683-6648, visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt.php ).
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.