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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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ORIGINAL: International Montoro Resources Mobilizes Exploration Crew and Files Explortion Permit on Blackfly Gold Project, Atikokan-Ontario

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

VANCOUVER, BC / ACCESSWIRE / September 22, 2020 / International Montoro Resources Inc. (TSXV:IMT)(Frankfurt:O4T1), (the "Company") is pleased to announce it 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 ("Terra-X") 2010-2012 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 NNE trending vein and shear zone which returned values upwards of 15 g/t Au over 1.07m 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 @ 0.94 g/t Au with sporadic higher-grade areas sampling 10.96 g/t Au over 2.0 meters from hole BF11-11. The 2010-2011 diamond drilling identified an area of 420 meters strike length with gold mineralization across at least 50 meters 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 this 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 (Figure 1) and consists of 64 unpatented mining claims totaling 1,296 hectares of land. The project is situated 300 meters south of Highway 622 and 13.6 kilometers 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 3 meters and a non-complaint "historic" resource of 230,000 oz @ 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 @ 15.1 g/t Au from hole BF10-04
  • Blackfly Northwest system was 8.26 m @ 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 kilometers

Image: https://www.accesswire.com/users/newswire/images/607181/MontoroImg1.jpg

Figure 1: Blackfly Project Location

Qualified Person

The technical content of this news release has been reviewed and approved by Mr. Alex Pleson, P. Geo., who is a member of the Association of Professional Geoscientists on Ontario and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About International Montoro Resources Inc.

Int. Montoro Resources Inc. 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:

  • Atikokan, Ontario (BlackFly - Au prospect)
  • Red Lake, Ontario (Camping Lake - Au prospect)
  • Elliot Lake, Ontario (Serpent River/Pecors -Ni-Cu-PGE discovery) & (Uranium- REE's)
  • Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium prospect)
  • Prince George, British Columbia (Wicheeda North - Rare Earth Elements prospect)

ON BEHALF OF THE BOARD
International Montoro Resources Inc.

"Karim Rayani"

Karim Rayani
President/Chief Executive Officer, Director
Tel: 604 716 0551 email: k@r7.capital

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: International Montoro Resources Inc.



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