International Montoro Resources Inc.: Electric Metals Receives Complete Airborne Survey Results on Chuchinka Ree Property
17 Novembre 2010 - 3:00PM
Marketwired
International Montoro Resources Inc. ("Montoro") (TSX VENTURE:
IMT)(PINK SHEETS: IMTFF)(FRANKFURT: O4T) is pleased to announce the
receipt from Electric Metals Inc. (TSX VENTURE: EMI) ("Electric
Metals") of complete airborne geophysical survey data provided by
Aeroquest Surveys Ltd. flown over the Chuchinka rare earth element
property. The Chuchinka property is contiguous with the Wicheeda
claims of Spectrum Mining Corporation (a private company), who have
previously reported high grade drill intercepts of 3.55% rare earth
elements ("REE") over 48.64 metres.
The airborne geophysical program consisted of 654 line
kilometers of AeroTEM helicopter-borne, time domain electromagnetic
plus radiometric surveying flown at high resolution 50 metre line
spacing. The survey covered a 29.4 square kilometre area and was
successful in mapping the magnetic and conductive properties of the
geology. Several magnetic and electromagnetic anomalies were
identified within the northwest extension of the structural belt
that contains the Wicheeda REE mineralization. This data will be
interpreted by an independent geophysical expert in order to
prioritize exploration work on these targets, and define
geochemical sampling areas and prospective sites for drilling.
Bolero Resources Corp. (TSX VENTURE: BRU), and the Canadian
International Minerals Inc. (TSX VENTURE: CIN)-Commerce Resources
Inc. (TSX VENTURE: CCE) joint venture have completed AeroTEM
surveys on adjoining properties, exploring for rare earth element
mineralization in the vicinity of the Wicheeda project. Bolero has
received drill permits and expects drilling to follow upon
completion of the interpretation of the airborne data (see Bolero
September 16, 2010 news release). CIN's airborne survey has
confirmed the apparent continuity of lithology and depositional
environment (see CIN August 19, 2010 news release) from the
adjacent Wicheeda discovery. CIN is currently drilling the Carbo
property, executing an initial 1200 + metre program (currently on
the eighth drill hole - see CIN November 8, 2010 news release) and
will continue until weather dictates the end of safe and cost
effective working conditions.
Electric Metals has an option to earn a 75% interest in the
Chuchinka property from Int. Montoro by paying $240,000, issuing
700,000 common shares of Electric Metals and incurring $425,000 in
exploration expenditures over three years.
The Chuchinka and Wicheeda Properties -High Grade REE Target
Locale
According to Spectrum Mining Corporation's paper presented at
the 5th Annual Minerals South Conference & Trade Show in
October 2009, Spectrum completed eleven diamond drill holes
totaling 1,835 metres on the "Main Zone" at Wicheeda. All 11 drill
holes intersected significant rare earth mineralization, of which
the best drill intercepts were a 48.64 metre interval that returned
3.55% REE, a 72.0 metre interval that returned 2.92% REE, and a 144
metre interval that returned 2.20% REE in three separate holes. The
2009 drilling suggests that mineralization remains open in all
directions, including to the north of Wicheeda where the Chuchinka
property is located.
Mr. Chris Taylor, M.Sc. P.Geo., is the Qualified Person as
defined by National Instrument 43-101 responsible for the accuracy
of this news release.
Other:
The Company has granted 2,000,000 incentive stock options to
directors, officers and consultants under its Stock Option Plan for
a period of three years at a price of $0.10. All securities issued
are subject to regulatory approvals and the Company's Stock Option
Plan.
About International Montoro Resources Inc.
Montoro recently acquired 2268 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 -982 ha and Orbit -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).
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.
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.
Contacts: International Montoro Resources Inc. Gary Musil
President, CEO/Director (604) 683-6648 (604) 683-1350 (FAX)
www.montororesources.com
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