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International Montoro Resources Inc (2)
Symbol IMT
Shares Issued 25,097,105
Close 2018-09-20 C$ 0.06
Market Cap C$ 1,505,826
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Int'l Montoro survey identifies layer at Serpent River

2018-09-20 05:25 ET - News Release

Mr. Gary Musil reports

INT. MONTORO RECEIVES ENCOURAGING FINAL RESULTS FROM COMPLETE ZTEM HELICOPTER SURVEY OVER SERPENT RIVER-PECORS (NI-CU-PGE), ELLIOT LAKE, ONTARIO PROPERTY

Further to the news release of Aug. 8, 2018, Geotech Ltd. doing business as Geotech Airborne of Aurora, Ont., has provided International Montoro Resources Inc. with a final operations report on the helicopterborne ZTEM (Z-axis tipper electromagnetic) geophysical survey of approximately 42 square kilometres, 295 line kilometres at 200-metre line spacing, providing further information to depths over 2,000 metres. Survey results will substantially assist in better targeting the next phase of diamond drilling on its Serpent River-Pecors nickel-copper-platinum-group-element project.

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 the company's Pecors area block also remains open to the north.

These results are encouraging, and a 3-D inversion processing of the data is being planned for.

The survey indicates similarities to the East Bull Lake intrusion in nearby Massey, Ont. ZTEM was applied as a follow-up to VTEM (versatile time domain electromagnetic) over magmatic massive sulphide (MMS) nickel-copper deposits to determine their potential extensions to depth. These included the Ni-Cu-PGE prospect at the Western Area-Mustang Minerals joint venture East Bull Lake anorthosite (Orta et al., 2011) in nearby Massey, Ont., where ZTEM defined a deep PGE-mineralized troctolitic layer at a depth of 850 metres that was originally identified in MT (magnetotellurics) surveys from the 1980s (Kurtz et al., 1986).

National Instrument 43-101 disclosure

Jean M. Legault, MSCA, PEng, PGeo, chief geophysicist of Geotech Ltd., a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release as in reference to the ZTEM survey on the Pecors anomaly.

Electric vehicle battery demand propels further nickel demand, and Sudbury area exploration spending bodes well for Montoro, advancing its Pecors Ni-Cu-PGE project

Market analysts for nickel agree that the demand for nickel is growing, and stockpiles that caused a glut in 2017 are shrinking -- two signs that bode well for the Sudbury area mining cluster. Early signs of a strengthening demand for nickel surfaced last fall in October, 2017, when Bloomberg News wrote about the role the electric car battery will play in boosting the demand for nickel. Bloomberg focused on the need for nickel sulphate, a key ingredient in lithium-ion batteries that could see demand increase 50 per cent to three million metric tonnes by 2030.

Forecasts by Glencore, which operates Sudbury Integrated Nickel Operations, also expect that nickel production will need to increase 1.2 million tons by 2030, equal to more than half of current global output, to keep up with demand from the battery industry.

In November, 2017, Kitco reported increased sales of nickel in the Chinese futures market, which shot up in response to similar gains by the London Metal Exchange.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100-per-cent-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 (rare earth elements) 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 hectares.

In February, 2018, Montoro received approval for the acquisition of the Duhamel, Que., property. The nickel-copper-cobalt prospect consisted of nine mineral claims comprising 500 hectares. Additional staking and compiling of data have been under way since February, and an updated report of these findings is forthcoming.

In addition, the company jointly owns with Belmont Resources Inc. (50/50) its Crackingstone (982 hectares, 2,427 acres) and Orbit (11,109 hectares, 27,450 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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