International Montoro Resources Inc.
Montoro Expands Information on Wicheeda North, B.C. Canada - Rare Earth Element (REE) Project
Thursday, April 11, 2019 3:15 AM
Montoro Contracts Robert Lane, M.Sc. P.Geo to Complete NI-43-101 Report; and Campbell & Walker Geophysics to Prepare a 3D Inversion of AeroTEM Survey on Wicheeda North
Clarifies – Cariboo Mining Division B.C. -REE Property Acquisitions
VANCOUVER, BC / ACCESSWIRE / April 11, 2019 / International Montoro Resources Inc. (TSX-V: IMT) (the "Company").
Wicheeda North (REE) Project, British Columbia
Further to our news release of February 6, 2019; IMT announced entering into three arm's length acquisitions in the Cariboo Mining Division, B.C., with one claim block adjoining the well-known Wicheeda rare earth mineral discovery. The Company has contracted Robert A. (Bob) Lane, M.Sc., P.Geo., of Vernon, B.C. to complete an NI 43-101 Report on the Wicheeda North claim block.
The claim block comprises approximately 1,444 ha of which a large portion of the claim area was previously flown in 2010 by Aeroquest, when previously owned by IMT. It consisted of 654 line kilometers of AeroTEM helicopter-borne, time domain electromagnetic plus radiometric surveying flown at high resolution 50 meter line spacing.
Bob Lane, has extensive experience in this area as he previously managed the adjacent Wicheeda nineteen (19) hole drilling projects in 2008 and 2009 for Spectrum Mining; and recently assisted in the compilation and completion of an NI 43-101 Technical Report for First Legacy Mining (now Defense Metals Corp. –TSX.V: DEFN).
The Company has also contracted Campbell & Walker Geophysics Ltd. (Christopher (Kit) Campbell and Sean Walker)) to complete a 3D inversion of the airborne electromagnetic and magnetic data previously acquired by IMT. This interpretation and modelling should assist in delineating the subsurface and provide a more reliable representation of subsurface geology. Both magnetic vector inversion and time-domain inversion modelling will be undertaken. The objective of this work will be to delineate prospective areas and establish greater confidence in planning drilling programs to test targets, in turn saving both time and money.
Helicopter Borne AeroTEM Radiometrics Survey -2010
Defense Metals Corp.- News Release 2019-03-14 Wicheeda/SGS labs, bench test results reports: WICHEEDA DEPOSIT 30 TONNE BULK SAMPLE RETURNS 4.81% LIGHT RARE EARTH OXIDE HEAD GRADE. Select head assay results for the 30-tonne bulk sample include 1.77 per cent lanthanum oxide, 2.34 per cent cerium oxide, 0.52 per cent neodymium oxide and 0.18 per cent praseodymium oxide, which the company considers significant, for a total of 4.81 per cent LREO (light rare earth oxide).
Montoro returns Wichcika Creek and Wicheeda South properties, retains Wicheeda North ground:
In further discussion with the vendors of the three properties announced February 6th, 2019; IMT and the vendors have mutually agreed to terminate the agreements on Wichcika Creek and Wicheeda South, and concentrate its further exploration on what it feels the most promising extension of the Wicheeda (DEFN) discovery—that being the Wicheeda North property which will be retained.
The Company will not be issuing an aggregate of 1 million Units (common shares and warrants), and cash payments of $50,000 for Wicheeda South; nor 700,000 Units (common shares and warrants), and cash payments of $40,000 for Wichcika Creek. We will be proceeding with the acquisition terms of Wicheeda North (as detailed in the February 6th new release) upon Exchange acceptance of the NI 43-101 report, which is expected to be filed this month.
In the News - Rare earths in the cross-hairs of new high-tech arms race
"A decision by the Chinese government to slash production of rare earth elements (REEs) has spooked customers of the materials used in everything from cell phones to electric vehicles to smart bombs. And for those who follow the rare earths market, it's like déjà vu back to 2009, when China suddenly reduced its exports of REE's by 40%". See https://aheadoftheherd.com/Newsletter/2018html/Rare-earths-in-the-cross-hairs-of-new-high-tech-arms-race.htm
About International Montoro Resources Inc.
(i) In February 2019 Montoro entered into acquisition agreements with various vendors, to acquire claims in the Cariboo Mining Division, British Columbia, and is proceeding to Exchange approval on the Wicheeda North claims (1,444 ha.) adjoining the well-known Wicheeda REE discovery.
(ii) Montoro will continue to focus on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha.
(iii) In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property. The Ni-Cu-Co prospect consisted of nine (9) mineral claims comprising 500 ha. Additional staking of thirty-two (32) adjoining mineral claims and compiling of data has been underway since February; and the expanded property now totals approximately 2,300 ha and prospective for Titanium, Vanadium, and Chromium.
(iv) In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD
President/CEO and Director
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.
SOURCE: International Montoro Resources Inc.