VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 26, 2015) - International Montoro Resources Inc. (TSX VENTURE:IMT) (the "Company" or "Montoro") is pleased to report that preliminary assay results were received from Hole #1 at the Pecors magnetic anomaly.
Of particular importance, the sample interval from 916.5m to 933.95m (17.45m - visually estimated 1-3% sulphides) which originated in the base of the gabbro intrusion reinforces the geophysical and geochemical evidence that the Pecors target may host a new deposit type (Ni-Cu-PGE's) in the Elliot Lake mining camp, west of Sudbury. Assays for 19 samples were received with results as follows:
FROM(m) |
TO (m) |
Au ppm |
Pt ppm |
Pd ppm |
TOTAL
Pt, Pd, Au |
Cu ppm |
Ni ppm |
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| 916.5 |
917.5 |
0.008 |
0.040 |
0.013 |
0.061 |
433 |
283 |
| 917.5 |
918.5 |
0.033 |
0.363 |
0.113 |
0.509 |
1,770 |
624 |
| 918.5 |
919.5 |
0.022 |
0.314 |
0.064 |
0.400 |
1,670 |
464 |
| 919.5 |
920.5 |
0.044 |
0.353 |
0.093 |
0.490 |
1,620 |
571 |
| 920.5 |
921.5 |
0.023 |
0.247 |
0.108 |
0.378 |
814 |
336 |
| 921.5 |
922.5 |
0.009 |
0.120 |
0.058 |
0.187 |
565 |
385 |
| 922.5 |
923.5 |
0.024 |
0.327 |
0.095 |
0.446 |
1,450 |
420 |
| 923.5 |
924.5 |
0.026 |
0.269 |
0.076 |
0.371 |
1,330 |
455 |
| 924.5 |
925.5 |
0.014 |
0.206 |
0.071 |
0.291 |
676 |
343 |
| 925.5 |
926.5 |
0.011 |
0.114 |
0.049 |
0.174 |
528 |
294 |
| 926.5 |
927.5 |
0.017 |
0.283 |
0.108 |
0.408 |
632 |
335 |
| 927.5 |
928.5 |
0.009 |
0.116 |
0.039 |
0.164 |
395 |
243 |
| 928.5 |
929.5 |
0.062 |
0.095 |
0.032 |
0.189 |
1,180 |
272 |
| 929.5 |
930.5 |
0.004 |
0.025 |
0.011 |
0.040 |
197 |
69 |
| 930.5 |
931.5 |
0.006 |
0.027 |
0.010 |
0.043 |
268 |
86 |
| 931.5 |
932.5 |
0.005 |
0.022 |
0.002 |
0.029 |
364 |
91 |
| 932.5 |
932.8 |
0.016 |
0.070 |
0.033 |
0.119 |
508 |
149 |
| 932.8 |
932.95 |
0.020 |
0.118 |
0.035 |
0.173 |
706 |
605 |
| 932.95 |
933.95 |
0.002 |
0.007 |
0.006 |
0.015 |
218 |
246 |
Two significant intersections of above to note are:
- 917.5 - 929.5m - 12m 0.33g/t TPM, 0.11% Cu and 0.04% Ni
- 917.5 - 920.5m - 3 m 0.47g/t TPM, 0.17% Cu and 0.06% Ni
TPM - Pt, Pd, Au
Don Hawke, P.Geo., comments; "The copper and nickel values were anticipated from the visual inspection and logging of the core. However, the anomalous PGE values were unexpected and as a result an additional expanded sampling program has been undertaken on Hole #1." This work is complete and the samples have been submitted to AGAT Laboratories in Sudbury, Ontario, an ISO 9001 certified facility that is also accredited to ISO/IEC 17025 standards. Additional results will be released as they are received and compiled.
Montoro is also awaiting the final report from the downhole probe BH UTEM geophysical survey of Hole #1, as well as petrographic analysis to better understand the mineralogy and petrology of the gabbro and its contained sulphide mineralization.
Everett Makela, P.Geo., formerly Vale SA's principal geologist for North America and current Advisor to Montoro, stated that; "Textures observed in the core indicate that the Serpent gabbro assimilated Archean volcanic sulphur source rocks during a turbulent, high temperature final emplacement event. The highly anomalous copper, nickel, platinum, palladium and gold values obtained from sampling of weakly sulphide mineralized inclusion bearing gabbro indicates that sulphur saturation occurred at a stage when the sulphide liquid has significant opportunity to scavenge metals from the surrounding silicate melt. In particular, the nickel concentrations indicate an early saturation event, before silicate crystallization tied up available nickel. Centimeter-scale sulphide blebs consisting of pyrrhotite rimmed by chalcopyrite witness coalescence of the sulphide liquid, lending encouragement for the discovery of massive sulphide deposits with economic tenors."
Gary Musil, President and CEO of Montoro Resources, commented; "Pecors is indeed a favourable setting for new deposit (nickel-copper-PGE) type mineralization, which marks a significant advancement of the exploration model for the district. The Pecors magnetic anomaly is open to depth and in all directions."
Pecors Hole #2 ("PDH-2")
The hole encountered the favourable gabbro at 650m and continued in the same rock to the depth capacity of the drill at 1317m. Within the gabbro a 70 metre section contained numerous fragments, xenoliths and rafts of mafic volcanics, cherty sulphide rich exhalite and sulphide facies iron formation. The gabbro within this interval is variably mineralized with disseminated pyrrhotite and chalcopyrite (<1% - 15%, visually estimated). This indicates that the magma had access to a sulphur source, a condition that is considered important for the formation of accumulations of massive Cu-Ni-PGE sulphide mineralization within the magma chamber. The mineralized core has been sampled and sent for assay at AGAT labs in Sudbury, Ontario.
Lamontagne Geophysics will also be conducting a BH UTEM 4 downhole probe on PDH-2 this month. This data combined with PDH-1 will give Montoro almost continuous below surface geophysical coverage for 1200m, as well a further 300m below each hole.
Canadian Mining Expo - May 27 & 28, 2015 - Timmins, Ontario
Montoro will be exhibiting at the Canadian Mining Expo -McIntyre Community Centre in Timmins, Ontario. We would like to invite you to meet the Montoro team at Arena #1-Booth R#1-15. Drill core from PDH-1 will be on exhibit at the booth. Times: May 27th: 10:00 a.m. - 6:00 p.m. & May 28th: 9:00 a.m. - 4:00 p.m.
For more info or to register for any of the events visit: http://www.canadianminingexpo.com
Qualified Person
The above information has been reviewed and approved by Don Hawke, MSc., P.Geo, consulting geologist for Montoro and a Qualified Person as defined by National Instrument 43-101 regulations.
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 also located Uranium/REE mineralization from drilling in the general area where Rio Algom previously discovered uranium. The property comprises 10 mineral claims (115 units), approx. 1,840 ha.
Montoro holds a 100% interest in 2,268 ha (5 claims, 5,604 acres, the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C. Montoro also holds a 100% interest in 3 mineral claims (160 ha) in the Tacheeda Lake camp. This property was previously a producing site of limestone ballast used during the construction of the B.C. Northern railway.
In addition the Company owns 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 OF DIRECTORS
Gary Musil, President
CEO/Director
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.
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.