China-US Trade Tactics Continue to Draw Attention to Rare Earth Elements
VANCOUVER, BC / ACCESSWIRE / July 24, 2019 / International Montoro Resources Inc. (TSX-V: IMT) (the “Company”).
Wicheeda North (REE) Project,
Further to our news releases of June 4, 2019 the Company is pleased to report that considerable progress was made on soil and rock sampling on various grids to cover anomalies outlined by the previous airborne survey and in the recently completed 3D geophysical inversion report. Robert (Bob) Lane has recently submitted 535 samples to MSALABS in Langley, B.C. for analysis.
Mr. Robert (Bob) Lane, M.Sc., P.Geo., reported: “The property has the potential to host, and should continue to be explored for, Rare Earth Element (REE) mineralization because it occurs within a favourable geological belt known to contain carbonatite-hosted REE mineralization such as the Main Zone on the Wicheeda (Defense Metals Corp.) property located to the southeast.”
Rocky Mountain Rare Metal Belt & Wicheeda Area Properties:
Wicheeda North Claim block increased by 131.248 ha
The claim block originally consisted of four (4) contiguous MTO cell claims that covered approximately 1,444.06 ha; and then expanded to the east by a further four (4) contiguous MTO cell claims of 562.59 ha for a total of 2006.65 ha. The Company has now acquired one (1) additional claim – 131.248 ha adjoining the claim block on its northwest corner for a total of 2,137.901 ha. The total claim block now takes in a larger portion of the claim area that was previously surveyed in 2010 by Aeroquest, when previously owned by IMT. That program consisted of 654-line kilometers of AeroTEM helicopter-borne, time domain electromagnetic plus radiometric surveying flown at high-resolution (50 meter line spacing).
Mr. Lane has extensive experience in this area as he previously managed the adjacent Wicheeda 19-hole diamond drilling projects in 2008 and 2009 for Spectrum Mining; and recently assisted in the compilation and completion of an NI 43-101 Technical Report for First Legacy Mining (now Defense Metals Corp. -TSX.V: DEFN).
NI 43-101 Disclosure:
Robert A (Bob) Lane, M.Sc., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information above in this news release.
China-US Trade Tactics Continues to draw attention to Rare Earth Elements:
Rare Earth Elements (REEs) are vital to several categories of modern essentials including military defense. Every advanced weapon in the U.S. arsenal -from Tomahawk missiles to the F-35 fighter jet to aegis-equipped destroyers and cruisers and everything in between-is absolutely reliant on components made using REEs, including critical items such as permanent magnets and specialized alloys that are almost exclusively made in China.
- “The U.S. rare earths saga continues…” Investorintel by Matthew Bohlsen -July 22, 2019 at https://investorintel.com/sectors/technology-metals/technology-metals-intel/the-rare-earths-state-of-the-market-july-2019/
- “How China Could Shut Down America’s Defenses” – Foreign Policy by Keith Johnson, Lara Seligman – June 11, 2019 at https://foreignpolicy.com/2019/06/11
The 17 REEs comprising the lanthanide metals plus scandium and yttrium, comprise essential components for a host of modern necessities including cell phones, computers and numerous communication devices, electric vehicles, batteries, renewable energy, military defense and avionics systems.
The news of the rare elements impact on technology can be reviewed in numerous publications around the world.
Wicheeda Area Updates:
Defense Metals Corp. (C: DEFN) has received further successful metallurgical test results (80% recovery of cerium, lanthanum and neodymium oxides) for their Wicheeda rare earth element property from SGS Canada Inc. Results from the initial 21 of a planned 25 batch flotation tests completed to date during 2019 showed progressive improvements from early-to late-stage testing. See DEFN news release date June 20, 2019 for further details.
DEFN announced it has received a Mineral Exploration permit from the B.C. Ministry of Energy, Mines & Petroleum Resources that allows for the establishment of additional separate drill site locations at Wicheeda. Each individual drill pad site may be used for multiple diamond drill holes if warranted. See DEFN news release dated May 6, 2019 for further details.
About International Montoro Resources Inc.
(i) In February 2019 Montoro entered into acquisition agreements with various vendors, to acquire claims in the Cariboo Mining Division, British Columbia, and following Exchange approval on the Wicheeda North claims (1,444 ha.), the Company has increased the claim blocks by a further (694 ha) for a total 2138 ha. The claim block adjoins the well-known Wicheeda REE discovery on the north and northwest.
(ii) Montoro will continue to focus on advancing its 100%-owned Serpent River – Elliot Lake, Northern Ontario, Pecors magnetic anomaly – a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha.
(iii) In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property. The Ni-Cu-Co prospect consisted of nine (9) mineral claims comprising 500 ha. Additional staking of thirty-two (32) adjoining mineral claims and compiling of data has been underway since February; and the expanded property now totals approximately 2,300 ha and prospective for Titanium, Vanadium, and Chromium.
(iv) In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.
ON BEHALF OF THE BOARD
President/CEO and Director
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.