09:34:37 EDT Tue 14 Jul 2020
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or Name
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International Montoro Resources Inc (2)
Symbol IMT
Shares Issued 36,157,105
Close 2019-06-04 C$ 0.055
Recent Sedar Documents

Int'l Montoro finds two anomalous zones at Wicheeda

2019-06-04 07:10 ET - News Release

Mr. Gary Musil reports

MONTORO RECEIVES 3D MAGNETIC INVERSION AND PRELMINARY REPORT ON ITS RARE EARTHS PROJECT & INCREASES ITS LANDHOLDINGS BY 28% AT WICHEEDA NORTH, B.C. CANADA

Further to International Montoro Resources Inc.'s news releases of May 1 and April 11, 2019, Campbell & Walker Geophysics Ltd. of North Vancouver, B.C., has completed the 3-D magnetic inversion for Wicheeda North; and Christopher (Kit) Campbell, PGeo, has delivered a summary Power Point presentation to the company. Results indicate two magnetically anomalous zones which are recommended for further ground investigation to consist of both prospecting and detailed geochemical soil sampling prior to a drilling decision and final targeting. A full report of the geophysical inversion work is scheduled for delivery in the first week of June, at which time it will be posted on the company's website.

On May 1, 2019, Robert (Bob) Lane, MSc, PGeo, reported, "The property has the potential to host, and should continue to be explored for, rare earth element (REE) mineralization because it occurs within a favourable geological belt known to contain carbonatite-hosted REE mineralization such as the Main zone on the Wicheeda (Defense Metals Corp.) property located approximately 10 km to the southeast."

Wicheeda North claim block increased by 562.59 hectares

The claim block originally comprised four contiguous MTO cell claims that covered approximately 1,444.06 hectares and has now been expanded to the east by a further four contiguous MTO cell claims of 562.59 hectares for a total of 2,006.65 hectares. The total claim block now takes in a larger portion of the claim area that was previously flown in 2010 by Aeroquest, when previously owned by International Montoro. It consisted of 654 line kilometres of AeroTEM helicopter-borne, time domain electromagnetic plus radiometric surveying flown at high-resolution 50-metre line spacing.

The company has also received a proposed fieldwork program from Bob Lane, PGeo. Mr. Lane has extensive experience in this area as he previously managed the adjacent Wicheeda 19-hole drilling projects in 2008 and 2009 for Spectrum Mining and recently assisted in the compilation and completion of a National Instrument 43-101 technical report for First Legacy Mining (now Defense Metals Corp.).

NI 43-101 disclosure

Mr. Campbell, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information regarding the 3-D inversion above in this news release.

China-U.S. trade tactics highlight rare earths potential

Rare earths are vital to several categories of modern essentials including military defence. But rare earths have themselves become weapons in an escalating conflict between China and the United States. Despite Washington's heightened awareness of its critical minerals conundrum, the U.S., like the rest of the non-Chinese world, remains almost completely dependent on its rival turned enemy for the rare earths that China threatens to cut off.

The 17 rare earth elements comprising the lanthanide metals plus scandium and yttrium comprise essential components for a host of modern necessities including cellphones, computers and numerous communication devices, electric vehicles, batteries, renewable energy, military defence, and avionics systems.

The news of the trade war is seen in numerous publications around the world.

Property approval

On May 29, 2019, the company received TSX Venture Exchange acceptance of the Wicheeda North mineral property acquisition agreement. The company has paid $25,000 cash and issued a total of one million units to the three vendors. Each unit consists of one common share in the capital of the company and one transferable share purchase warrant. Each warrant is exercisable into one common share at a price of 10 cents for a period of two years (until May 29, 2021). The shares and warrants have a hold period from trading until Sept. 30, 2019.

About International Montoro Resources Inc.

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 hectares) adjoining the well-known Wicheeda REE discovery. Montoro will continue to focus on advancing its 100-per-cent-owned Serpent River-Elliot Lake, Northern Ontario, Pecors magnetic anomaly -- a potential nickel-copper-platinum-group-element 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 hectares. In February, 2018, Montoro received approval for the acquisition of the Duhamel, Que., property.

We seek Safe Harbor.

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