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Enter Symbol
or Name
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International Montoro Resources Inc
Symbol IMT
Shares Issued 76,260,526
Close 2017-01-30 C$ 0.02
Market Cap C$ 1,525,211
Recent Sedar Documents

Belmont, Int'l Montoro review U claims in Saskatchewan

2017-01-30 13:19 ET - News Release

See News Release (C-BEA) Belmont Resources Inc (3)

Mr. Gary Musil of Belmont reports

BELMONT & INT. MONTORO REVIEWS THE URANIUM POTENTIAL OF THEIR 12,091 HA. URANIUM CITY, SASK. CLAIMS

As a result of recent inquiries and interest in uranium around the world, Belmont Resources Inc. and its 50/50 partner, International Montoro Resources Inc., are reviewing potential joint venture/option avenues. During the period from 2006 to 2011, Belmont and International Montoro incurred $1.97-million in property acquisition and development costs on their 12,091 hectares of claims in Uranium City, Sask.

Uranium industry overview

The Mining website expects "the period from 2017 [to] 2020 to be a landmark period for the nuclear sector and uranium stocks as the global operating nuclear reactor fleet expands." First and foremost, the world is building more nuclear reactors right now than ever before.

Uranium analyst David Talbot of Dundee Capital Markets was forecasting 6-per-cent compound annual demand growth through 2020, which is enough, he says, to "kick-start" uranium prices up to and beyond 2007 levels. Up to 20 per cent of the uranium supply needed to operate the world's existing nuclear reactors for the rest of this year and next is not covered. Morningstar analyst David Wang predicted prices will double within the next two years.

The World Nuclear Association (WNA) reports that there are 440 nuclear reactors operable in 30 countries as of March 1, 2016. A total of 65 nuclear reactors are under construction in 14 countries, with the principal drivers of this expansion being China (24), Russia (eight), India (six), the United States (five), South Korea (three) and the United Arab Emirates (four). Based on the most recent statistics from the WNA, there are a total of 238 reactors that are either under construction or planned around the world and an additional 337 reactors that are proposed, with the potential to be operating by 2030.

Review of Belmont Resources/International Montoro's claims in Uranium City, Sask. (as previously filed on SEDAR and the companies' websites)

Crackingstone claims -- 982 hectares

  • February, 2007 -- completed an 87-kilometre line-cutting program consisting of establishing grid lines and a magnetic/very-low-frequency-electromagnetic ground geophysical survey over 750 hectares;
  • August to October, 2007 -- channel (278) and grab (12) sampling program with samples assaying over 0.59 per cent triuranium octoxide and a radon gas survey; radon gas survey covered approximately 4.65 kilometres at 50-metre sample intervals (93 samples) around the intersection point of the Crackingstone and Boom Lake faults;
  • October, 2007 -- MPX Geophysics Ltd. conducted 1,391 kilometres of helicopter airborne magnetic and radiometric survey at 100-metre flight line spacing over Crackingstone and Orbit claims;
  • July, 2008 -- completion of a 20-hole diamond drill program totalling 3,075 metres and confirmed the presence of uranium mineralization for a strike distance of 1,800 metres; eight of the holes tested a 600-metre-long-strike-length conductor starting from the Beck 94 showing; assays graded up to 0.37 per cent triuranium octoxide (7.4 pounds per ton), included an intersection of 0.3 metre assaying 2.087 per cent triuranium octoxide (41.74 pounds per ton), including a three-metre intersection assaying 0.36 per cent triuranium octoxide (7.19 pounds per ton); a 10.6-metre intersection, including a 0.4-metre intersection assaying 0.182 per cent (3.64 pounds per ton); and many others.

Orbit claims -- 11,109 hectares

  • April, 2008 -- completed Aeroquest airborne magnetic/electromagnetic survey, which consisted of 1,319 line kilometres using the Aerotem IV system; confirmed 19 electromagnetic conductors, of which six have significant strike lengths from one kilometre to 3.5 kilometres; four of the conductors are coincident with significant radioactive zones detected in the 2007 airborne survey (see October, 2007, above) and historical uranium showings;
  • September, 2011 -- conducted a sampling program on three northeast linear radiometric (uranium) anomalies that transected the property from the southwest corner at Orbit Bay to the northeast corner of the claim group at Orbit Lake; results included numerous rare earth elements; further results can be reviewed in the Dec. 5, 2011, news release and posted on the Crackingstone/Orbit property pages on the Belmont website.

About Belmont Resources Inc.

On March 30, 2016, Belmont entered into a property acquisition agreement to acquire 16 placer mining claims, representing 1,036 hectares (2,560 acres) in Esmeralda county, Nevada, United States (the Kibby basin property).

On July 11, 2016, Belmont reported it has arranged the staking of 213 acres by 20 acres of additional placer mineral claims totalling approximately 1,724 hectares (4,260 acres) adjoining the 16 Kibby basin claims, increasing the total Kibby basin land position to 2,760 hectares (6,820 acres).

In 50/50 ownership with International Montoro Resources, Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone and Orbit Lake) in the Uranium City district in Northern Saskatchewan.

We seek Safe Harbor.

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