Jun. 2, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- International Montoro Resources Inc. ("Montoro") (TSX VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has located Drill Hole #PW122 drilled to a depth of 450 meters on its Serpent River Elliot Lake property by Rio Algom (formerly Algom Uranium Mines Ltd.) in 1959. The hole was located in the southwest corner of a large airborne magnetic anomaly outlined by a Geotech VTEM–electromagnetic survey conducted by Montoro, Pele Mtn. & Verbina in 2008 and acquired by the Ontario Geological Survey ("OGS") in 2009.
Serpent River Map: www.montororesources.com
An OGS "Open File Report #6240 – Project Unit 09-004 Compilation Mapping, Pecors-Whiskey Lake Area, Southern and Superior Provinces" by R.M.Easton (pages 10-1 to 10-21 inclusive) shines additional light on this strong geophysical anomaly. The OGS comments specifically on the large airborne magnetic anomaly. Previously it was thought that these anomalies were caused by iron formation. However, in this study the OGS came to the conclusion that the magnetic anomaly is likely caused by a Paleoproterozoic mafic intrusion.
In 1959 Algom Uranium Mines Ltd. drilled two holes (PW-121 located on Pele Mtn. ground) and (PW-122) along the south and southeastern edge of the magnetic and gravity anomaly, that penetrated the Huronian sediments and encountered underlying basement rocks at depths of 2002 feet (610 meters) and 1477 feet (450 meters) respectively. The holes penetrated only a short distance into the basement before they were terminated. The basement rocks were identified as diabase textured greenstone that contained disseminated pyrrhotite, pyrite and chalcopyrite mineralization. This suggests that the interpretation of the OGS as to the source of the anomalies, may be correct and these lithologies may have potential to host contact style Nickel – Copper – PGE mineralization.
The vertical casing for Hole #PW122 was located. No AQ core was located, however due to the heavy concentration of vegetation (leaves and humus) fallen over the past 50 years, it is possible the core is covered over. A check for obstructions in this hole revealed it is plugged 5M down the casing. It was recommended by the consultant LJR Exploration Services that a return with further equipment such as a metal detector, picks, shovels, and proper equipment to clear the obstruction, will result in recovering core. Montoro will then consider further down-hole probing technology to acquire additional geological data.
Montoro has also contracted an independent geophysical expert to analyze the anomaly area from the VTEM electromagnetic survey, and define geochemical sampling areas and prospective sites for drilling.
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.
About International Montoro Resources Inc.
Montoro recently acquired a 100% interest in 12 mineral claims prospective for Rare Earth Elements, in 2 separate claim blocks covering 11,500 acres (4,654 ha), in the new Tacheeda Lake camp and Carbo area. Montoro holds a 100% interest in 5,604 acres (2,268 ha, 5 claims – the Chuchinka property) contiguous to and adjoining a recently reported Rare Earth discovery, northeast of Prince George, B.C. Montoro is also focused on advancing its 100% optioned Elliot Lake uranium/REE project in northern Ontario. In addition the Company will continue the development with Belmont Resources Inc. (50/50) of its Crackingstone – 2,427 acres (982 ha) and Orbit – 27,450 acres (11,109 ha) uranium properties in the Uranium City District – Northern Saskatchewan. The Company also holds two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador. The Companies have recently optioned one claim block to Rare Earth Metals Inc. (TSX VENTURE:RA) in the historical Letitia Lake-Red Wine rare earth metals camp of west-central Labrador.
For further information phone the Company at 604-683-6648. Also visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt).
ON BEHALF OF THE BOARD OF DIRECTORS,
Gary Musil, President, CEO/Director
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.
International Montoro Resources Inc.
(604) 683-1350 (FAX)