22:24:09 EST Tue 30 Nov 2021
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International Montoro Resources Inc (2)
Symbol IMT
Shares Issued 64,512,105
Close 2021-01-26 C$ 0.075
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Int'l Montoro adds 2,850 hectares to Victoria Lake

2021-01-26 11:03 ET - News Release

Mr. Karim Rayani reports

MONTORO ADDS TO LAND POSITION IN CENTRAL NEWFOUNDLAND

International Montoro Resources Inc. has recently acquired an additional 2,850 hectares of land to add to the company's existing land position on its Victoria Lake project. With this new acquisition, the company's landholding is increased to 10,650 hectares along the Exploits subzone and covers a large highly prospective structural zone proximal to the Valentine Lake shear zone, which hosts Marathon Gold's Valentine gold project with resources of four million ounces of gold.

The company staked the new claims after undertaking a detailed structural analysis from available airborne magnetics within the Victoria Lake area. These studies showed an extremely complex structural framework with large-scale fold and refold patterns indicative of polyphase folding and with numerous sets of curved and splayed cross-faults associated with dislocations of major shear zone contacts. In addition, a complex fault pattern of major and minor faults/shear zones was interpreted to converge on a complex splay/fault interference zone in the centre of these newly staked claims. These are interpreted to be second-order and third-order shears, which are important hosts to gold mineralization in the Abitibi subprovince of Ontario and Quebec. Central Newfoundland is increasingly being recognized as a younger version of the Abitibi, where major crustal-scale breaks, preserved clastic sedimentary basins in a mafic volcanic environment, are disrupted by second-order and third-order shear zones that focus fluid pathways and traps.

Victoria Lake project

The Victoria Lake gold-silver project lies 18 kilometres west of Marathon Gold's Valentine Lake four-million-ounce-gold deposit and exhibits similar-style gold-bearing veins within regional structural corridors. Preliminary work on the project located several quartz-arsenopyrite veins returning grab samples of 15.5 grams per tonne to 24.9 grams per tonne gold and 18.6 grams per tonne to 139.9 grams per tonne silver (see press release dated Sept. 23, 2020).

The newly acquired claims lie six kilometres west of the Leprechaun gold deposit and 14 kilometres southwest of the Marathon gold deposit and tie directly onto the 100-per-cent-owned Marathon gold property. Preliminary work by the vendor highlighted:

  • Anomalous gold-in-soil samples ranging from 600 parts per billion to 1,530 parts per billion gold over a plus-1,000-metre length;
  • 1,200 hectares covering 6.6 kilometres of strike length along a regional geological contact and structural zone.

Karim Rayani, chief executive officer, commented: "We are extremely encouraged with these preliminary structural studies as we have identified at least three generations of complex folds, which, we think, past explorers did not recognize. Of considerable interest to us is the fact that known gold occurrences within this immediate area are coincident with significant, interpreted fold hinge zones, and the majority of these newly identified structures have never been explored. Montoro now controls 10,650 hectares along the Exploits subzone, making us one of the larger landholders next door to the Valentine Lake gold camp held by Marathon Gold."

Next steps

International Montoro will immediately commence a detailed litho-structural study of the Victoria Lake project utilizing magnetics, public geological data and the current kilometre-long gold-in-soil anomaly to vector a spring mapping/prospecting and additional soil sampling program.

Qualified person

Mike Kilbourne, PGeo, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company.

The qualified person has not completed sufficient work to verify the historic information on the properties comprising the Victoria Lake project, particularly regarding historical exploration, neighbouring companies and government geological work. The information provides an indication of the exploration potential of the Victoria Lake project but may not be representative of expected results.

About International Montoro Resources Inc.

International Montoro Resources, listed on the TSX Venture Exchange for over 25 years, is a Canadian-based emerging resource company. The company is systematically exploring its extensive property positions in:

  • Exploits zone, Newfoundland (Slip and Victoria Lake -- gold prospects);
  • Atikokan, Ont. (BlackFly -- gold prospect);
  • Red Lake, Ont. (Camping Lake -- gold prospect);
  • Elliot Lake, Ont. (Serpent River/Pecors -- nickel/copper/platinum group element discovery and uranium/rare earth elements);
  • Quebec (Duhamel -- nickel/copper/cobalt prospect and titanium, vanadium and chromium prospect);
  • Prince George, B.C. (Wicheeda North -- rare earth element prospect)

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