March 13, 2019 – International Montoro Resources Inc. (TSX-V: IMT) (the “Company”).
President Gary Musil reports: “By receiving https://www.slideshare.net/secret/eqThN4pFkSMGou
in September 2018, we learned that the ZTEM appears to identify a deep, gently inclined to the east and sharply sloping conductive layer at a depth of 750m that matches the magnetic anomaly. The special layer, which is located on our block in the Pecors area, remains open to the north as well.“
“In this data we see 3 pronounced magnetic anomalies at a depth of 750m, one of which is about 3.5km x 1.5km in size.”
“Montoro’s 2D Geotech ZTEM Inversion Report includes ZTEM results from the low-lying (>800m) Eastern Deeps deposit from Vale’s Ni-Cu-Co mine at Voisey’s Bay. Voisey’s Bay, the largest mine discovery in Canada in the last 50 years, promises comparable geophysical data for our Ni-Cu-PGE project at Pecors. In September 2018 (as reported in the Sudbury Mining Solutions Journal), Vale launched a USD 2 billion mine development at its operations at Voisey’s Bay in Labrador.
The Geotech 2D report recommended that you create a 3D inversion report. It is noteworthy that we can now look at the depth with width and length in 3D and see that the original 3 anomalies identified by the ZTEM 2D are a large contiguous magnetic anomaly estimated at 5 km long, 2 km wide and 2 km deep.”
Drilling of Rio Algom (blue) and Montoro (red). To be seen on the website https://www.slideshare.net/secret/2vLqjOnrClKL9h
The ZTEM 2D Survey & 3D interpretation shows further encouraging results:
The Pecors ZTEM study shows similarities to the ZTEM results at Vale Canada Limited (“Vale”) Eastern Deeps deposit at Voisey’s Bay. ZTEM was able to successfully locate the Eastern Deeps deposits in the right place and depth (750m) using 2D inversion (Jansen and Cristall: in Proceedings of Exploration 2017).
Following our september 19, 2018 press release, Geotech Ltd. – company name Geotech Airborne – in Aurora, Ontario, provided the company with a 3D interpretation of helicopter-assisted geophysical ZTEM measurement of approximately 42km2 and 295 line kilometers at 200 m line distance, providing further information at depths over 2000 meters.
The 3D inversion identified two low-lying targets (Zd1 and Zd2) with depths up to >600m and >800m. Geotech provided the following interpretation of these goals: “The estimated resistance values for the Zd1 target range from the lowest value from 300 ohms-m to 500 ohm-m and for the Zd2 target between the lowest value of 100 to 300 ohm-m, making them good candidates for semi-massive Ni-Cu mineralization.”
NI 43-101 Compliant Release:
Jean M. Legault, M.Sc.A., P.Eng., P.Geo., Chief Geophysicist of Geotech Ltd., in his capacity as a qualified expert within the meaning of National Instrument 43-101, has reviewed and approved the technical information in this press release regarding the ZTEM measurement of pecoranity.
The 3D evaluation and the final summary of the ZTEM measurement can be viewed on our website: https://www.montororesources.com/serpent-river
Background:
Don Hawke, MSc., P.Geo, consultant geologist for Montoro and expert in the sense of National Instrument 43-101, has compiled the following background information:
In 2014, the company completed a 3D inversion of a large magnetic anomaly discovered in an earlier airborne VTEM measurement. This measurement sketched a low-lying body about 3.5 km x 1.5 km in size, which was interpreted as the result of a possible mafia-ultramafishing intrusion.
In 2015, a two-hole drilling program was conducted to determine the source of the anomaly, and a gabbro intrusion was detected at depths of 595 and 650 meters, respectively. A borehole intersected anomalous Cu-Ni-PGE values over a core length of 29 m. In the vicinity of the lower contact, xenolites of a sulphide facies iron formation and sulfidenal exhalite were found, suggesting that the gabbro had a connection with a sulfur source, an important prerequisite for the formation of magmatic sulphide deposits. The second hole was stopped in the Gabbro at a depth of 1317 m when the depth capacity of the drill was reached.
In 2018, Geotech was commissioned by the company to perform a ZTEM measurement of the magnetic anomaly to look for conductive targets at greater depths than previous research has been able to achieve.
The 3D interpretation and final 2D results of the ZTEM measurement will significantly contribute to better matching the next phase of diamond drilling on the Serpent River-Pecors-Ni-Cu-PGE project.
Strong resurgence in demand in the nickel and copper markets:
Gary Musil commented: “2019 has strong demand for nickel (plus 25%) and copper, in the words of Morgan Stanley, is a metal whose “stars stand well”. The last time we drilled at Pecors, LME nickel cost ‘7/lb, driven in part by supply and demand, with LME nickel inventories reaching multi-year lows. At present, The LME stock is below these levels, with nickel trading at ‘6.00 and at a 25% higher rate year-on-year.”
Forbes, February 19, 2019 “Will 2019 be the year of King Copper?”
Last week, Morgan Stanley joined Citi and Goldman Sachs in giving an optimistic outlook on the metal. The investment bank predicted a 14 percent increase for copper in 2019, based on a growing supply deficit and the likelihood of a solution in the U.S. and Chinese trade wars. The historic explorer of voisey’s Bay Mine, Robert Friedland, said: “You will need a telescope to see copper prices in 2021.”
US Senate Committee on Energy and Natural Resources in February 2019
Simon Moore, of Benchmark Mineral Intelligence, told the US Senate Committee on Energy and Natural Resources: “Between 2023 and 2028, lithium demand will increase more than eight-fold, cobalt demand will quadruple (taking into account research aimed at reducing cobalt consumption) and nickel demand by 19 times.”
About International Montoro Resources Inc.
- In February 2019, Montoro entered into acquisition agreements with several companies to acquire more than 3,500 hectares of claims in the Cariboo Mining Division, British Columbia, with a claim block adjacent to the well-known Wicheeda REE project.
- Montoro will continue to focus on developing its 100% self-owned magnetic anomaly at Pecors on Serpent River-Elliot Lake in Northern Ontario, a potential discovery of Ni-Cu-PGE. On the southwestern part of the property, uranium/REEmineralization was found from previous drilling, in the metropolitan area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units) or about 1,840 ha.
- In February 2018, Montoro received approval to acquire the Duhamel property in Quebec. The Ni-Cu-Coproject consisted of nine (9) mineral claims with an area of 500 ha. Since February, a further thirty-two (32) adjacent mineral claims have been drawn up and further data are compiled; the extended property now covers a total of around 2,300 ha and is courtly for titanium, vanadium and chromium.
- In addition, the company, together with Belmont Resources Inc. (50/50), owns its Crackingstone (982 ha, 2,427 acres) uraniumproperties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue the development of this advanced property.
FOR THE BOARD
“Gary Musil”
Gary Musil,
President/CEO and Director
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