Montoro Consults With First Nations in Preparation for Drill Program on Pecors Ni-Cu-PGE Anomaly
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2014) - International Montoro Resources Inc. (TSX VENTURE:IMT)(PINKSHEETS:IMTFF)(FRANKFURT:O4T) (the "Company" or "Montoro") -
As per new regulations recently imposed by the Ontario Government, Ministry of Northern Development and Mines ("MNDM") under the Ontario Mining Act, Montoro has now commenced communication with Aboriginal communities in the area of its Serpent River property, near Elliot Lake, Ontario in further preparation for a diamond drilling permit application. Montoro has sent information to the following First Nations: Serpent River First Nations; Metis Nation of Ontario; and Mississaugi First Nation; outlining our intention to embark on a minimum two hole deep diamond drilling program (approx. 700-1000m each) into the centre of its Pecors Anomaly as previously described in our February 20, 2014 news release.
New interpretation on the Pecors anomaly concludes it may be the result of a contact style nickel-copper-PGE mineralization similar to that found to the east at Sudbury. Sediment sampling from Pecors Lake has shown high levels of nickel and chromium, lending further weight to this analysis. The total field magnetic anomaly strikes northwesterly and is about 15 km long and about 4 km wide.
The Company has also commissioned L. E. Reed Geophysical Consultant Inc. to re-examine the VTEM survey results for subtle deep anomalies in or immediately adjacent to the Pecors Mag feature.
Montoro is very encouraged by recent Nickel prices achieving multi-year highs. Nickel jumped the most since 2012 as Norilsk Nickel, the world's largest producer states, "The global nickel surplus will drop to a four-year low in 2014." " Demand will exceed output through 2019 as consumers seek to replace supplies from Indonesia, the world's largest producer from mines, after the government barred exports of raw ore in January", Macquarie Group Ltd. said last week. See: http://ow.ly/x1Ywl. Sudbury mining executive calls for $15-$20 per lb. Nickel by mid-2015 http://ow.ly/x1YF6.
About International Montoro Resources Inc.
Montoro is focused on advancing its 100% owned Serpent River - Elliot Lake, Northern Ontario, Uranium/REE project & Pecors magnetic anomaly - potential Ni-Cu-PGE. The property comprises 10 mineral claims (115 units) approx. 1,840 ha.
Montoro has also acquired a 100% interest in 23 mineral claims prospective for Rare Earth Elements, in 2 separate claim blocks covering 18,743 acres (7,585 ha) in the new Tacheeda Lake camp; and 3,330 acres (1,348 ha) Carbo area. Montoro also holds a 100% interest in 5,604 acres (2,268 ha, 5 claims - the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C.
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.
For further information see contact information below 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
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.
