10:05:23 EDT Thu 29 Oct 2020
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International Montoro Resources Inc (2)
Symbol IMT
Shares Issued 54,947,105
Close 2020-09-21 C$ 0.075
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Int'l Montoro sends exploration team to Blackfly

2020-09-22 10:36 ET - News Release

Mr. Karim Rayani reports

INTERNATIONAL MONTORO RESOURCES MOBILIZES EXPLORATION CREW AND FILES EXPLORTION PERMIT ON BLACKFLY GOLD PROJECT, ATIKOKAN-ONTARIO

International Montoro Resources Inc. has mobilized an exploration team to site to conduct follow-up geological mapping and sampling on the Blackfly vein. The campaign will target the northern extension of the mineralized structure identified by Terra-X Minerals Inc.'s 2010 to 2012 diamond drilling and subsequent recommendations made by Terra-X in 2012 to test chargeability anomalies. The targeted area, known as the Blackfly Main, exhibited significant gold mineralization along the north-northeast-trending vein and shear zone which returned values upwards of 15 grams per tonne (g/t) gold (Au) over 1.07 metres (m) in a diamond drill hole and 167 g/t Au in surface grab samples. Terra-X also identified the Blackfly Northwest trend which was referred to as a wider lower-grade target, and a similar style of gold mineralization to Hammond Reef hosted in a distinctive, highly magnetic quartz diorite. This zone returned gold values in a diamond drill hole (BF10-03) of 8.26 m at 0.94 g/t Au with sporadic higher-grade areas sampling 10.96 g/t Au over two metres from hole BF11-11. The 2010 to 2011 diamond drilling identified an area of 420 metres strike length with gold mineralization across at least 50 metres width, which is open along strike in both directions and at depth.

The company has initiated the 50-day approval and consultation process for an exploration permit with the Ministry of Energy, Northern Development and Mines and local first nations communities to allow for diamond drilling, surface overburden trenching, and survey grid line cutting to aid in geophysical surveying. During this process, the company will be working diligently on compiling the 2012 and prior diamond drilling, surface geophysical surveys and available geochemistry data. Ground-truthing and digitizing these data will allow the company to develop preliminary constraints on gold mineralization which will aid in developing targets for further drilling once the exploration permit is received.

Project highlights

The Blackfly gold project is located along the Marmion fault zone and consists of 64 unpatented mining claims totalling 1,296 hectares of land. The project is situated 300 metres south of Highway 622 and 13.6 kilometres southwest along strike of Agnico Eagle's Hammond Reef gold deposit (open-pit measured and indicated mineral resources at the project are estimated at 208 million tonnes grading 0.67 g/t gold containing 4.5 million ounces of gold) and is situated within a similar suite of volcanic and granitic rocks mapped as the margin of the Marmion batholith of the south-central Wabigoon geological subprovince. The project is situated west and immediately tied on to Falcon Gold Corp.'s Central Canada project which has reported outstanding recent drill intercepts of up to 10.17 g/t Au over three metres and a non-complaint historic resource of 230,000 ounces (oz) at 9.9 g/t Au. Geological highlights of the project include:

  • Grab samples taken near the historic shaft in 2010 ranged from 87 to 167 g/t Au.
  • Blackfly Main Vein was 1.07 m at 15.1 g/t Au from hole BF10-04.
  • Blackfly Northwest system was 8.26 m at 0.94 g/t Au from hole BF10-03.
  • Geological mapping indicated the structural lineament which hosts the Blackfly vein and bears similar alteration/mineralization can be traced for 4.4 kilometres.

Qualified person

The technical content of this news release has been reviewed and approved by Alex Pleson, professional geoscientist, who is a member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About International Montoro Resources Inc.

International Montoro is a Canadian-based emerging resource company. The company is systematically exploring its extensive property positions in:

  • 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-chromium prospect);
  • Prince George, B.C. (Wicheeda North -- rare-earth-element prospect).

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