Montoro Receives Exchange Approval on Tacheeda Lake and Other Rare Earth Prospect Acquisitions
14 Décembre 2010 - 3:00PM
Marketwired
International Montoro Resources Inc. ("Montoro") (TSX VENTURE:
IMT)(PINK SHEETS: IMTFF)(FRANKFURT: O4T) has received TSX Venture
Exchange acceptance of the acquisition of a 100% interest in 12
mineral claims prospective for Rare Earth Elements, in 2 separate
claim blocks covering approximately 11,500 acres (4,654 ha),
located northwest of the "Wicheeda" rare earth element discovery in
the new Tacheeda Lake camp and the "Carbo" area of northeastern
British Columbia.
IMT President and CEO, Gary Musil, stated, "We have
strategically increased our land holdings in close proximity to
recent significant rare earth elements discoveries. The 'Carbo'
area of northeastern B.C. is currently undergoing a massive staking
campaign and land acquisitions heavily concentrated in the recently
named 'Rocky Mountain Rare Metals Belt', as a result of recent
positive exploration work in the area including: soil, silt, and
rock sampling, diamond drilling, and airborne surveying surrounding
Spectrum Mining's 'Wicheeda' discovery. Montoro will continue to
enhance shareholder value through strategic acquisitions and
further work programs being planned."
IMT has issued the first tranche of 500,000 units (each unit
comprised of one common share of IMT and one share purchase warrant
entitling the holder to purchase one additional share of IMT for a
period of one year from issuance at a price of $0.15 per share).
The shares and warrants are subject to a hold period from trading
until March 30, 2011. The total unit acquisition costs are
2,000,000 units over a period of one year. The Company has also
made the first cash payments of $30,000 of a total $50,000 staged
over one year.
The Chuchinka and Wicheeda Properties - High Grade REE Target
Locale
IMT's Chuchinka claims are contiguous to Canadian International
Minerals Inc. (TSX.V: CIN) Carbo Project and the rare earth element
discoveries by Spectrum Mining Corporation ("Spectrum"). According
to Spectrum'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.
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.V: RA) in the historical Letitia
Lake-Red Wine rare earth metals camp of west-central Labrador.
For further information 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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