International Montoro Resources, Fact Sheet April 2014
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Montoro Resources Inc. owns mineral exploration properties located in Saskatchewan, Ontario, British Columbia, and New Brunswick, Canada. The properties have potential for uranium, rare earth elements, nickel, copper, cobalt, and gold. Past mining in the regions produced over 35,000 tons of uranium and half the world's yttrium supply. Montoro plans to conduct exploration programs including geophysics, sampling, and phased drilling to further evaluate targets at its properties, with the goal of advancing projects towards production. The company is seeking financing partners to continue advancing its portfolio of assets located in mining-friendly jurisdictions in Canada.
International Montoro Resources, Fact Sheet April 2014
- 1. FACT SHEET FOR “INTERNATIONAL MONTORO RESOURCES INC.” TSX.V: IMT (1) LOCATION- (i) Crackingstone, Orbit Properties, Uranium City, Saskatchewan (northwest Athabasca Basin) • 50/50% ownership with related-party Belmont Resources Inc. in 12,841 hectares. Claims are in good standing up to 2021 and some through to 2032. • Uranium City was the birthplace of Cameco Corp. (T: CCO) where they operated mines and mills that produced in excess of 35,000 tons of Uranium. The well-known Beaverlodge district produced from 1953 to 1982 from a total of 16 mines. Output from the Eldorado Ace-Fay-Verna underground operations and the Gunnar open pit accounted for more than 90% of the total production from the camp with grades of 0.17% to in excess of 0.25% U. • All necessary infrastructures still remain in the area, including Uranium City airport. Northern Saskatchewan hydro crosses the property serving the producing mines in the eastern Athabasca Basin and southern Saskatchewan major cities. Uranium City is also serviced by barging in the summer/fall seasons and ice roads on Lake Athabasca from Alberta (west) and southern Lake Athabasca in the winter and spring. • Crackingstone/Orbit shares a border with Cameco –west side; Denison Mines Corp. (T: DML)-southeast; and other juniors including Can Alaska Uranium Ltd. (TSX.V: CVV) • Saskatchewan is rate the #1 best mining jurisdiction in the world -2013 Fraser Institute; and currently produces in excess of 1/3 of the world’s uranium. Safe and mining friendly province. • Property page link: http://www.montororesources.com/crackingstone (ii) Serpent River, Elliot Lake Ontario • 100% ownership in 1840 hectares and work assessment filed until 2017. • Located about 13 km east of the City of Elliot Lake and 400 km northwest of Toronto. The Elliot Lake mining camp, once known as the “Uranium Capital of the World”, has produced
- 2. more than 138,500 tons ( approx. 280 million pounds) of U3O8 from vast conglomerate beds that demonstrated remarkable consistency over extensive areas. • Serpent River property covers approx. 4,000 m of contact. Rio Algom outlined a non- NI 43- 101 compliant resource they call Pecors East Zone estimated to contain an indicated resource of 20 million tons grading 0.0347% U3O8 (14.8 million pounds), with the potential to expand the zone through additional drilling. • Elliot Lake camp produced half of the world’s supply of Yttrium and was the only REE production in Canada’s history • All necessary infrastructures are in place for further exploration, development and mining. Ontario ranks #16 best mining jurisdictions globally – Fraser Institute. Safe and mining friendly province. • Property page link: http://www.montororesources.com/serpent-river (iii) Chuchinka & Tacheeda Lake, Northeast of Prince George, B.C. • 100% ownership in 2,264 hectares –Chuchinka work assessment filed until November 2014. • 100% ownership in 4,654 hectares – Tacheeda work assessment filed until November 2014. • Road accessible Wicheeda-Carbo district. Chuchinka in the center of B.C.’s Rocky Mountain Rare Metal Belt. Is contiguous and on-strike with Spectrum’s discovery which drilling intersected 48.64 m interval of 3.55% rare earth elements, a 72.0m interval averaging 2.92% REE, and a 144.0m interval averaging 2.20% REE in three separate holes. • Property page link: http://www.montororesources.com/chuchinka (iv) Malachite, west of Bathurst, New Brunswick • 100% ownership in 1,000 hectares, 62 contiguous claims and work assessment filed until March 2015. • 60 km west of Bathurst. Claim block adjoins paved provincial Highway 180. • Drilling indicates that the cobalt, copper and gold mineralized zone has a strike length of at least 600 metres and a vertical depth of approx. 70 metres. Multiple zones open at depth and along strike. Further deep penetrating EM survey with follow-up drilling is recommended.
- 3. • Property page link: http://www.montororesources.com/malachite (2) STRUCTURE OF THE COMPANY- • International Montoro Resources Inc. (“Montoro”) -TSX Venture listed public company for +25 years (April 1988). Symbol: TSX.V: IMT • Issued & Outstanding: 57.3 million; Fully Diluted: 60.5 million; Market Cap $4.01 million; Management & related parties control over estimated 20% of I&O (3) MANAGEMENT TEAM – • Board of Directors (4) comprises qualified, experienced and diverse management with proven success in corporate finance, operational management, engineering and exploration: 1- CEO/CFO, Accountant-Dipl. of Business Admin., 3rd yr. CGA- 35 years mining experience; 1- P. Eng. -40 years mining experience; 1- BSc. Geo.; & 1 –Mgr.-Dipl. Mgmt. Systems; (4) TERM TO PRODUCTION- • History on Properties to Production: • (i) Crackingstone/Orbit - Extended zones of former uranium producing mines. Completed Mag/VLF-EM ground geophysics; airborne magnetic, radiometric, and electromagnetic surveys; radon gas survey; and through to 3075 m.-20 hole drilling program along 1800 m conductor. Formerly 16 mines in the nearby area produced 35,000 tons of uranium from 1953 to 1982. • (ii) Serpent River – Pre NI 43-101 historical Rio Algom 1977 indicated resource of 20 mil. tons grading 0.037% (0.74 lbs/t) U3O8 or 14.8 mil. lbs. Pecors East zone extensions of PEA completed on Echo Ridge Mine –Pele Mtn. Resources adjoining former producing Denison & Rio Algom uranium producers. Yttrium & rare earth oxides were recovered at the Denison Mines in the past, as by-products of the uranium production. • (iii) Chuchinka & Tacheeda – Completed electromagnetic & radiometric surveys identifying structural zones and several anomalies considered high priority targets for follow-up sampling and drilling programs. Adjoining Rare Earth minerals discovery which is proceeding to further drilling and bulk sampling program. • (iv) Malachite – From discovery in 1989, Montoro has completed ground magnetic-VLF surveys, soil and trench sampling, through to two drill programs in 2004 totaling 1121.5 meters (9 shallow drill holes). Drilling has indicated that the cobalt, copper and gold mineralized zone with the altered rhyolite has a strike length of at least 600 meters and a
- 4. vertical depth of approx. 70 meters. This zone is open and untested at depth and further along strike. Numerous intersections returned grades of up to 0.51% Co and 3.03% Cu. (5) ENVIRONMENTALLY – • Montoro has and will always meet all accepted Federal and Provincial standards, and will always proceed with Best Practice Standards. Because of the extensive documented experiences in the Elliot Lake- Ontario, and Uranium City- Saskatchewan mining camps with uranium mine operations and decommissioning, it is expected that any risks can be effectively managed. Uranium production in Canada has set standards with proven technology processes used throughout the world. (6) INNOVATIVE MODERN E & P TECHNOLOGY- • Proven processing by crushing and grinding, magnetic separation, froth flotation, acid baking and water leaching, solid/liquid separation, high density sludge (HDS) removal, and recovery of the valuable elements by solvent extraction and precipitation. (7) GATEWAY TO EXPORT IN PLACE- • Canadian Government and various governments have ratified agreements which facilitate export of Canadian uranium to China, South Korea, India, and other world markets. The province of Saskatchewan produces/ exports approx. 1/3 of the world’s uranium production. • The Canadian Government has set a goal of supplying 20% of the global production of REE’s by 2020. Parliamentary hearings as to how to spur on this development are underway “now” in Ottawa, Canada. (8) COMMODITIES- • Uranium is needed in China, Japan, South Korea, Russia, Middle East, United States, France and India. Currently 71 nuclear power plants under construction worldwide. Uranium prices expected to rise to $70 US by end of 2016. Nuclear power will continue to gain importance as countries around the world move to diminish their reliance on carbon-based fuels for reliable base load power. • Rare earths continue to increase in importance and are critical components in many high- tech applications. Used in the production of hybrid motor vehicles, flat screen monitors, high-power magnets, consumable electronics (iPads, DVDs, cellular phones), green energy technology, fibre optics, super alloys for the aerospace and building industries, medical and dental lasers. But even more critical as far as Western governments are concerned is their use in high-tech strategic military equipment, guided missiles and other precision defense
- 5. weapons. China controls over 90% of rare earth production, dominates not just the mining but also the refining, and because they have considered cut backs on exports, there is a tremendous demand for production from other viable sources lying outside China. • Nickel, copper, and other minerals continue to be in demand. • Cobalt prices recently hit two year highs. (9) BUDGETS- • Phase 1 Drilling to test the strong geophysical Pecors magnetic anomaly in the northwest portion of the Serpent River property. The new interpretation concludes it may be the result of contact style nickel-copper-PGE mineralization similar to that found to the east at Sudbury. Two drill holes to depths up to 1000 meters, plus down hole probing, sampling and additional geophysical interpretations - $300,000. • Phase 2 Drilling exploration programs are recommended for the Serpent River-Ontario and Crackingstone/Orbit-Saskatchewan uranium/REE properties. - $250,000. • Surface Sampling and Phase 1 Drilling programs to test numerous radiometric and magnetic anomalies for REE’s and high priority targets detected from airborne surveys on the Chuchinka and Tacheeda Lake- British Columbia properties - $250,000. • Phase 2 Drilling to extend the cobalt and copper mineralized zone which is open and untested at depth and further along strike on the Malachite- New Brunswick property. Renewed interest in a joint venture/option. MONTORO IS OPEN FOR DISCUSSION TO EQUITY AND CONVERTIBLE DEBT FINANCING, AND JOINT VENTURE/OPTIONS TO CONTINUE EXPLORATION AND DEVELOPMENT. “Gary Musil” Prepared by Gary Musil, CEO/President www.MontoroResources.com April 2014.