Montoro Acquires Tacheeda Lake Rare Earth Prospect Northwest of the Wicheeda Rare Earth Discovery in BC
24 Novembre 2010 - 3:00PM
Marketwired
International Montoro Resources Inc. ("Montoro") (TSX VENTURE:
IMT)(PINK SHEETS: IMTFF)(FRANKFURT: O4T) has acquired a 100%
interest in 12 mineral claims prospective for Rare Earth Elements,
in 2 separate claim blocks covering approximately 11,500 acres
(4654 ha), located northwest of the "Wicheeda" rare earth element
discovery in the new Tacheeda Lake camp in the "Carbo" area of
northeastern British Columbia.
The first claim block is located on trend to the northwest of
Montoro's "Chuchinka" claims, which are contiguous to Spectrum
Mining Corp.'s "Wicheeda" Rare Earth Element discovery, and
comprised of 3 mineral claims totaling 3,331 acres (1,348 ha). The
second claim block surrounds an area owned by Spectrum Mining Corp.
and is referred to as the Tacheeda Lake area. This second claim
group is comprised of 9 mineral claims totaling 8,170 acres (3,306
ha) containing a 231 acre (93 ha) claim called "open pit" that
previously produced Limestone, now potentially associated with Rare
Earth Element discoveries in this area.
Min File Report:
(http://minfile.gov.bc.ca/Summary.aspx?minfilno=093J%20%20019)
International Montoro Resources' President and CEO, Gary Musil,
stated, "We are excited to have strategically increased our land
holdings in close proximity to recent significant rare earth
element discoveries. The "Carbo" area of northeastern BC is
currently undergoing a massive staking campaign and land
acquisitions heavily concentrated in the recently named "Rocky
Mountain Rare Metals Belt", as a result of recent positive
exploration work in the area including: soil, silt, and rock
sampling, diamond drilling, and airborne surveying surrounding
Spectrum Mining's "Wicheeda" discovery. Montoro will continue to
enhance shareholder value through strategic acquisitions and
upcoming work programs now being developed."
International Montoro Resources can acquire the properties by
making staged cash payments totaling $50,000, and issuing 2,000,000
units over a period of one year (each unit comprised of one common
share of IMT and one share purchase warrant entitling the holder to
purchase one additional share of IMT for a period of one year from
issuance at a price of $0.15 per share).
The Chuchinka and Wicheeda Properties -High Grade REE Target
Locale
IMT's Chuchinka claims are contiguous to Canadian International
Minerals Inc. (TSX.V: CIN) and the rare earth element discoveries
by Spectrum Mining Corporation. According to Spectrum Mining
Corporation's paper presented at the 5th Annual Minerals South
Conference & Trade Show in October 2009, Spectrum completed
eleven diamond drill holes totaling 1,835 metres on the "Main Zone"
at Wicheeda. All 11 drill holes intersected significant rare earth
mineralization, of which the best drill intercepts were a 48.64
metre interval that returned 3.55% REE, a 72.0 metre interval that
returned 2.92% REE, and a 144 metre interval that returned 2.20%
REE in three separate holes. The 2009 drilling suggests that
mineralization remains open in all directions, including to the
north of Wicheeda where the Chuchinka property is located.
Mr. Bruce E. Bried, P.Eng. is the Qualified Person as defined by
National Instrument 43-101 responsible for the technical
information of this news release.
About International Montoro Resources Inc.
Montoro recently acquired a 100% interest in 12 mineral claims
prospective for Rare Earth Elements, in 2 separate claim blocks
covering 11,500 acres (4,654 ha), in the new Tacheeda Lake camp.
Montoro holds a 100% interest in 5604 acres (2,268 ha, 5 claims -
the Chuchinka property) contiguous to and adjoining a recently
reported Rare Earth discovery, northeast of Prince George, B.C.
Montoro is also focused on advancing its 100% optioned Elliot Lake
uranium/REE project in northern Ontario. In addition the Company
will continue the development with Belmont Resources Inc. (50/50)
of its Crackingstone (2427 acres-982 ha) and Orbit (27,450 acres
-11,109 ha) uranium properties in the Uranium City District -
Northern Saskatchewan. The Company also holds two claim blocks
(50/50 with Belmont) in the Central Mineral Belt in Labrador. The
Companies have recently optioned one claim block to Rare Earth
Metals Inc. (TSX.V: RA) in the historical Letitia Lake-Red Wine
rare earth metals camp of west-central Labrador. For further
information phone the Company at 604-683-6648 or visit the Company
website at www.MontoroResources.com and watch the SmartStox
interview with President Gary Musil.
SmartStox Interview: www.smartstox.com/interviews/imt
ON BEHALF OF THE BOARD OF DIRECTORS,
Gary Musil, President, CEO/Director
The statements used in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Companies forward-looking statements and expectations.
Neither the 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.
Contacts: International Montoro Resources Inc. Gary Musil
President, CEO/Director (604) 683-6648 (604) 683-1350 (FAX)
montoro@telus.net www.montororesources.com
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