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Montoro Receives Drill Permit Extension On Its Pecors (Ni,Cu,PGE) Massive Sulphide Project, Elliot Lake, Ontario

ACCESSWIRE
·4 min read

VANCOUVER, BC / ACCESSWIRE / December 17, 2020 / International Montoro Resources Inc. (TSXV:IMT)(Frankfurt:O4T1)(OTC PINK:IMTFF); (the "Company") is pleased to announce that has received an extension to its drilling permit from the Ministry of Energy, Northern Development, and Mines (ENDM) for its 1,840-hectare Pecors - Ni, Cu, PGE project near Elliot Lake, Ontario. The exploration permit will allow the company to delineate the extent of nickel, copper, and PGM mineralization discovered in 2015 diamond drilling and VTEM survey on the Pecors anomaly. Past exploration and geophysical interpretation by the company has outlined a significant 5.7km long and 4.2km wide anomaly to be tested by drilling under the exploration permit extension. Sampling of diamond drill core in 2015 (DDH P-15-23) intersected a mineralized zone near the anomaly over 12-meters averaging 0.33 g/t TPM, 0.11% Cu, and 0.04% Ni (see press release dated October 22, 2020).

The Pecors anomaly is a strong regional magnetic high that extends for 18km southeast-northwest and up to 4km wide. The anomaly is located 15km from the East Bull Intrusive Suite where recent drilling by Grid Metals Corp. (TSXV:GRDM) recently intersected 119m of 1.13 g/t Pd_Eq (see press release December 3, 2020). Canadian Palladiums (CSE:BULL) recent drilling results (see press release dated December 4, 2020) reported a 5m intersection grading 5.1 g/t Pd_Eq from it's East Bull property. This result appears to be an extension to their 43-101 compliant inferred resource estimate of 11.1Mt grading 1.46 g/t Pd_Eq.

The Pecors anomaly is mostly overlain by Huronian aged sediments. The source of the magnetic anomaly has now been confirmed to be at least partially comprised of lithologies of gabbroic affinity by International Montoro drilling in 2015. These gabbroic rocks are similar in nature to the East Bull Intrusive Suite and may represent an additional source of PGE-bearing mineralization that is found throughout the Sudbury region.

Mr. Karim Rayani, President & Chief Executive Officer commented "The drilling permit extension will enable us to return to our Pecors Ni-Cu-PGE project to investigate the extent and nature of the 2015 significant results. This appears to be a new source of PGE mineralization within an area close to the success of Grid Metals and Canadian Palladium."

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Qualified Person

Mr. Mike Kilbourne, P. Geo, 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.

About International Montoro Resources Inc.

Montoro, 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 - Au Prospects)

  • 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)

The Company's website is: https://montororesources.com/

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.



View source version on accesswire.com:
https://www.accesswire.com/621430/Montoro-Receives-Drill-Permit-Extension-On-Its-Pecors-NiCuPGE-Massive-Sulphide-Project-Elliot-Lake-Ontario