Mr. Gary Musil reports
MONTORO RECEIVES FURTHER POSITIVE RESULTS FROM 2D ZTEM SURVEY AND 3D INVERSION, SERPENT RIVER-PECORS (NI-CU-PGE), ELLIOT LAKE-ONTARIO PROPERTY.
Gary Musil, president of International Montoro Resources Inc., says: "With the receipt of September, 2018, we learned that the ZTEM appears to identify a deep, gently east-dipping and north-plunging conductive layer at a depth of about 750 metres that coincides with the magnetic anomaly. The feature layer that is centred on our Pecors area block, also remains open to the north.
"In this data we see three distinct magnetic anomalies at 750 m one being approximately 3.5 kilometres by 1.5 km.
"Included in Montoro's 2-D Geotech ZTEM inversion report are ZTEM results over the deeply buried (about 800 m) Eastern Deeps deposit, from Vale's Voisey's Bay nickel, copper and cobalt mine. Voisey's Bay, being the biggest mining discovery in Canada in the last 50 years, any comparative geophysical data bodes well for our Pecors Ni, Cu, PGE project. In September, 2018 (as reported in the Sudbury Mining Solutions Journal), Vale gave the go ahead for $2-billion in mine developments at its Voisey's Bay operation in Labrador.
"The Geotech 2-D report recommended a 3-D inversion report be completed. Remarkably now that we can view the depth with width and length in 3-D we can now see that the original three anomalies identified by the ZTEM 2-D are in fact the tips of an iceberg of one considerably large contiguous magnetic anomaly estimated to be five km long two km wide and two km deep."
ZTEM 2-D survey and 3-D interpretation indicates further encouraging results
The Pecors ZTEM survey shows similarities with ZTEM results over the Vale Canada Ltd. Voisey Bay, Eastern Deeps deposit. ZTEM was successfully able to position the Eastern Deeps deposits in the correct location and at the correct depth (about 750 m) using 2-D inversion (Jansen and Cristall: in Proceedings of Exploration 2017).
Further to the company's news release of Sept. 19, 2018, Geotech Ltd. doing business as Geotech Airborne of Aurora, Ont., has provided the company with a 3-D interpretation of the helicopter-borne ZTEM geophysical survey of approximately 42 square km; 295 line km at 200 m line spacing providing further information to depths over 2,000 metres.
The 3-D inversion identified two deep-seated targets (Zd1 and Zd2) with depths to the tops of about 600 m and about 800 m respectively. Geotech offered the following interpretation of these targets, "The estimated resistivity values for the Zd1 target are ranging from the lowest of 300 ohm-m to 500 ohm-m, and for the Zd2 target are ranging from the lowest of 100 to 300 ohm-m, which makes them good candidates for semi-massive Ni-Cu mineralization."
National Instrument 43-101 disclosure
Jean M. Legault, MScA, PEng, PGeo, and chief geophysicist of Geotech Ltd., a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information above in this news release as in reference to the ZTEM survey on the Pecors anomaly.
The 3-D interpretation and final summary of the ZTEM survey can be reviewed on the company's website.
Don Hawke, MSc, PGeo, consulting geologist for Montoro and a qualified person as defined by National Instrument 43-101, has provided the following background information.
In 2014 the company completed a 3-D inversion of a large magnetic anomaly detected during a previous airborne VTEM survey that outlined a deep-seated body with dimensions of about 3.5 km by 1.5 km that was interpreted to be caused by a possible mafic-ultramafic intrusion.
A two-hole drill program was carried out in 2015 to determine the source of the anomaly and a gabbro intrusion was encountered at depths of 595 and 650 metres respectively. One hole intersected anomalous copper-nickel-platinum-group-element values over a core length of 29 m and xenoliths of sulphide facies iron formation and sulphide rich exhalite were encountered near the lower contact indicating that the gabbro had access to a source of sulphur, an important prerequisite for the formation of magmatic sulphide deposits. The second hole was stopped in gabbro at a depth of 1,317 m when the depth capacity of the drill was reached.
During 2018 Geotech was contracted by the company to carry out a ZTEM survey over the magnetic anomaly to search for conductive targets at greater depths than previous surveys could penetrate.
The 3-D interpretation and final 2-D results of the ZTEM survey will substantially assist in better targeting the next phase of diamond drilling on the Serpent River-Pecors Ni-Cu-PGE project.
Strength in the nickel and copper markets returns
Gary Musil, comments: "Two thousand nineteen has brought strong nickel (up 25 per cent) and copper, in the words of Morgan Stanley, is a metal whose 'stars are aligned.' Last we drilled at Pecors LME nickel was $7 per pound driven partially by supply and demand economics with the LME nickel stockpiles reaching multiyear lows, presently the LME stockpile is below those levels, with nickel trading at $6, up 25 per cent on the year."
Forbes, Feb. 19, 2019 -- "Will 2019 be the year of King Copper"
Last week Morgan Stanley joined Citi and Goldman Sachs in making a bullish call on the metal. The investment bank projected a 14-per-cent upside for copper in 2019, based on a widening supply deficit and the likelihood of a resolution to the U.S.-China trade war. Historic discoverer of the Voisey Bay mine Robert Friedland comments, "You're going to need a telescope to see copper prices in 2021."
U.S. Senate committee on energy and natural resources February, 2019
Simon Moore, Benchmark Mineral Intelligence, testifying to the U.S. Senate committee on energy and natural resources comments, "Between 2023 and 2028, lithium demand will increase by over eight times, cobalt demand will rise four-old (reflecting research aimed at reducing its usage) and nickel by 19 times."
About International Montoro Resources Inc.
- In February, 2019 Montoro entered into acquisition agreements with various vendors, to acquire over 3,500 hectares of claims in the Cariboo mining division, British Columbia, with one claim block adjoining the well-known Wicheeda REE (rare earth element) project.
- Montoro will continue to focus on advancing its 100-per-cent-owned Serpent River-Elliot Lake, Northern Ontario, Pecors magnetic anomaly -- a potential Ni-Cu-PGE discovery.
- In February, 2018, Montoro received approval for the acquisition of the Duhamel, Que., property.
- In addition the company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 hectares, 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.
We seek Safe Harbor.
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