Montoro Updates Pecors Drilling and Down-Hole Probing Survey
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 28, 2015) - International Montoro Resources Inc. (TSX VENTURE:IMT) (the "Company" or "Montoro") is pleased to report that drilling of the Pecors Drill Hole #1 ("PDH-1") at the large magnetic/gravity anomaly stopped at 1005m. A total of 22 m of core samples have been cut, and delivered to Agat Laboratories preparation facility in Sudbury for preparation before being forwarded to Mississauga, Ontario for assaying. Agat is an accredited laboratory to ISO/IEC 17025 standards and is certified to ISO 90001 standards. Results will be released once they are received and compiled.
Heli Explore Inc. returned after the break with a larger model helicopter to facilitate easier mobilization of Orbit Garant's drill to Pecors Drill Hole #2 ("PDH-2"). As well Orbit Garant had pre-constructed an enhanced drill base at Elliot Lake airport to move onto PDH-2 and to provide a secure foundation for the drill to reach the anticipated depth of over 1000m.
Upon completion of the drilling demobilization from PDH-1, Lamontagne Geophysics immediately moved men and materials to set up their BH UTEM 4 downhole probe and fibre-optic logging system on the site. ...UTEM probes used in diamond drill holes may detect the presence of conductive sulphide mineralization within 300 metres of the probe. This means that a drill hole that is only a few centimeters across can be used to search a volume of rock with a diameter of 600 metres. This technology has been instrumental in advancing mining projects (ie. Totten/Vale, Victoria/KGMH), and is used underground in active mining. The BH UTEM survey has been completed and results will be reported as soon as compiled and received.
Petrographic Analysis
Montoro has delivered eight core samples to Ronacher McKenzie Geoscience in Sudbury, Ontario. Montoro has commissioned a petrographic analysis to better understand the mineralogy and petrology of the gabbro and its contained sulphide mineralization.
Pecors Drill Hole #2 ("PDH-2").
Drilling on PDH-2 collared approximately 650m to the northwest of PDH-1 commenced on April 22, 2015. As of 7:00 p.m. April 27, 2015 drilling has reached 492m.
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.
3rd & Final Tranche of Private Placement Closed
The Company has issued 1,665,000 units for gross proceeds of $116,550. Each unit consists of one common share at a price of $0.07 and one two year transferable share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one Common share at an exercise price of $0.10 for a period of 12 months to April 21, 2016 and at $0.14 at any time after April 21, 2016 but on or before April 21, 2017. The Common Shares and Warrants are subject to a hold period expiring August 22, 2015. Finder's fees of $2,362.50 were paid as a result of this transaction. The Company completed a total of 8,142,000 units (25 placees) for total gross proceeds of $569,940 in 3 tranches and wish to thank all those previous and new investors for participating.
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 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.
Contact
International Montoro Resources Inc.
Gary Musil
President, CEO/Director
(604) 683-6648
(604) 683-1350
montoro@telus.net
www.MontoroResources.com