January 15, 2019 – International Montoro Resources Inc. (TSX-V: IMT) (the “Company”). The Duhamel Property is located 200 km northwest of the city of Saguenay, Quebec in the Saguenay-Lac-Saint-Jean region.
Further to our news release of October 17, 2018 the Company has received a report from Magnor Exploration Inc. (“Magnor”) that the initial fall reconnaissance and sampling program has been completed. A senior geologist and a technical assistant travelled throughout the property taking samples from old and new prospective areas, while reviewing additional access routes into the property. A total of 12 grab samples were shipped to ALS Geochemistry Labs in Val d’Or, Quebec for a 41 element Aqua Regia ICP-AES analysis including nickel, copper, cobalt, vanadium, titanium and chromium. Sample assay results were encouraging with the main highlight in Sample #P267312 which assayed 0.27% Cr, 0.149% Cu; 589 ppm Co; 0.55% Ni; 0.25% Ti; and 946 ppm V. This sample was a composite from blasted old showings. Sample #P267311, a new discovery outcrop was a composite (chip) sample taken across a massive magnetite band (MOX), 1.5 m to 3.0 m in width, open in 3 directions. It contained 0.46% Cr; and 0.19% V over 3.0m. No historic work was recorded in this new hand-stripped outcrop. It is located on a strong EM conductor and on high magnetic axis. This outcrop (20m x 5 m) and MOX are oriented north-south and align toward the south with a historical drill hole #1279-01-29 approx. 100m away. Historical results of DDH #1279-01-29 were 0.95% Ni, 0.32% cu and 0.09% C0 over 1.9 m, including 1.4% Ni over 0.5m. The Ni-Cu-Co sulfides mineralization interval in the hole 1270-01-29 is in contact and intercalate with massive magnetic bands (MOX). The association between the massive Ni-Cu-Co sulfide and the massive oxides (MOX) is recognized on several mineralized sites on the Duhamel property. Further stripping and channel sampling to follow the EM conductor and MOX in this area is recommended.
The Magnor compilation work located new significant sulphide mineralization in mafic and ultramafic intrusive bodies in unexplored areas in Duhamel and Houlière blocks, also comprising unexplored massive bands of iron-titanium (vanadium potential) oxides. Several other potential Ni-Cu-Co and Fe-Ti-V areas will be visited as early as possible in 2019.
The original Duhamel Property consisted of nine (9) contiguous mineral claims comprising 500 ha located 13 km west of Arianne Phosphate Inc. – Lac à Paul world class phosphate development stage deposit. Montoro, has recently been successful at staking an additional thirty-two (32) mineral claims to the south and northwest following new data acquisition and compilation that includes the Houlière Lake Ni-Cu-Co (Ti, V, Cr) property. The expanded Duhamel Ni-Cu-Co and Titanium, Vanadium, Chromium property now totals approximately 2,300 ha.
The Houlière -Duhamel (“Duhamel”) property currently contains seven (7) occurrences of Ni-Cu-Co sulphides and one (1) Fe-Ti-V iron oxide occurrence discovered between 1997 to 2001 by previous operators who defined a 13 kilometer long mineralized rock corridor. Further to the compilation of previously filed assessment reports Montoro recovered from historical data a grab sample (from massive Iron-Titanium Oxides), the result assaying 0.28% Vanadium associated with 20.8% TiO2 and 0.13% Cr2O3 on the property, that might be of reasonable economic interest, which the Company intends to further investigate.
All previous work is of a historical nature. The work was conducted prior to implementation of NI 43-101 standards and assay results cannot necessarily be relied upon
The Company is planning an expanded program this summer which should include:
- Further historical work compilation & geology reinterpretation; including verification of historical showings and drillhole locations in the field;
- Prospecting new sulfides and MOX occurrences;
- Field exploration, mapping, and soil geochemistry; and
- Trenching and sampling outcrops.
NI 43-101 Disclosure
Jean-Paul Barrette, P.Geo, independent geologist consultant, is the Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release as is referenced to the Duhamel Property.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100%-owned Serpent River – Elliot Lake, Northern Ontario, Pecors magnetic anomaly – a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha
In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property. The Ni-Cu-Co prospect consisted of nine (9) mineral claims comprising 500 ha. Additional staking of thirty-two (32) mineral claims including the Houlière Lake Ni-Cu-Co (Ti-V-Cr) property increases the property size to approximately 2,300 ha.
In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD
President/CEO and Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
Neither 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.