International Montoro Resources Inc. Adds to Land Position in Central Newfoundland
VANCOUVER, Jan 26, 2021 - International Montoro Resources Inc. (TSXV:IMT)(Frankfurt:O4T1)(OTC PINKS:IMTFF); (the "Company") is pleased to announce the recent acquisition of an additional 2,850 hectares of land to add to the company's existing land position on its Victoria Lake Project. With this new acquisition the Company's land holding is increased to 10,650 hectares along the Exploits Subzone and covers a large highly prospective structural zone proximal to the Valentine Lake Shear Zone which hosts Marathon Gold's (TSXV:MOZ) Valentine Gold Project with resources of 4M oz. of gold (www.marathon-gold.com) (Figure 1).
Figure 1: International Montoro's Victoria Lake Gold Project and Newly Acquired Claims, Victoria Lake Project.
The company staked the new claims after undertaking a detailed structural analysis from available airborne magnetics within the Victoria Lake area. These studies showed an extremely complex structural framework with large scale fold and refold patterns indicative of polyphase folding and with numerous sets of curved and splayed cross-faults associated with dislocations of major shear zone contacts. In addition, a complex fault pattern of major and minor faults / shear zones was interpreted to converge on a complex splay/fault interference zone in the center of these newly staked claims. These are interpreted to be second and third order shears which are important hosts to gold mineralization in the Abitibi Subprovince of Ontario and Quebec. Central Newfoundland is increasingly being recognized as a younger version of the Abitibi where major crustal scale breaks, preserved clastic sedimentary basins in a mafic volcanic environment are disrupted by second and third order shear zones that focus fluid pathways and traps.
Victoria Lake Project
The Victoria Lake Gold-Silver project lies 18 kilometers west of Marathon Gold's Valentine Lake 4M oz. gold deposit and exhibits similar style gold-bearing veins within regional structural corridors. Preliminary work on the project located serval quartz-arsenopyrite veins returning grab samples:
- 15.5 to 24.9 g/t gold
- 18.6 g/t to 139.9 g/t silver
(See press release dated September 23, 2020)
The newly acquired claims lie 6 kilometers west of the Leprechaun gold deposit and 14 kilometers southwest of the Marathon gold deposit and tie directly onto the 100% owned Marathon Gold property. Preliminary work by the vendor highlighted:
- Anomalous gold-in-soil samples ranging from 600 ppb to 1530 ppb gold over a +1000-meter length
- 1,200 hectares covering 6.6 kilometers of strike length along a regional geological contact and structural zone
Mr. Karim Rayani, Chief Executive Officer commented, "We are extremely encouraged with these preliminary structural studies, as we have identified at least 3 generations of complex folds, which we think, past explorers did not recognize. Of considerable interest to us is the fact that known gold occurrences within this immediate area are coincident with significant, interpreted fold hinge zones, and the majority of these newly identified structures have never been explored. Montoro now controls 10,650 hectares along the Exploits Subzone making us one of the larger land holders next door to the Valentine Lake Gold Camp held by Marathon Gold."
Next Steps
International Montoro will immediately commence a detailed litho-structural study of the Victoria Lake Project utilizing magnetics, public geological data and the current kilometer long gold-in-soil anomaly to vector a spring mapping/prospecting and additional soil sampling program.
Qualified Person
Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
The QP has not completed sufficient work to verify the historic information on the properties comprising the Victoria Lake Project, particularly regarding historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Victoria Lake Project but may not be representative of expected results.
About International Montoro Resources Inc.
Montoro, listed on the TSX Venture Exchange for over 25 years, is a Canadian based emerging resource company. The Company is systematically exploring its extensive property positions in:
- Exploits Zone, Newfoundland (Slip and Victoria Lake - Au Prospects)
- Atikokan, Ontario (BlackFly - Au prospect)
- Red Lake, Ontario (Camping Lake - Au prospect)
- Elliot Lake, Ontario (Serpent River/Pecors - Ni-Cu-PGE discovery) & (Uranium- REE's)
- Quebec (Duhamel - Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium prospect)
- Prince George, British Columbia (Wicheeda North - Rare Earth Elements prospect)
The Company's website is: https://montororesources.com/
ON BEHALF OF THE BOARD
International Montoro Resources Inc.
"Karim Rayani"
Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital
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.
