International Montoro Resources Inc.

International Montoro Resources Inc.

January 03, 2008 06:00 ET

Montoro Drills 1.04 Metres Grading 0.089% in Breccia and Proposes a Further 30 Hole-$1 Million Drilling Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 3, 2008) - Further to our news release of December 17, 2007 International Montoro Resources Inc. ("IMT") (TSX VENTURE:IMT)(FRANKFURT:O4T), announces additional assay results from the first phase diamond drilling program (2755 metres) on the Serpent River property as recommended in the NI 43-101 compliant Technical Report (the "Report") by Scott Wilson, Roscoe Postle Associates Inc. ("Scott Wilson RPA") dated March 20, 2007.

Phase One drilling encountered enhanced levels of radioactivity (detected by scintillometer) in three different environments.

1) Pyritic quartz pebble conglomerate (QPC) beds;

2) Aplite dikes and sills; and

3) Mineralized, highly altered heterolithic breccia at or near the unconformity

Type 3- Breccia

Some of the holes intersected a highly altered and mineralized, unsorted, heterolithic breccia at or near the unconformity between the Huronian sediments and the older Archean basement. These rocks contain 1% to 75% disseminated pyrite, pyrrhotite and chalcopyrite. Thin section analysis of this material indicates that the alteration assemblages comprise chlorite (to 82 modal %) sericite (to 15 modal %) and biotite (to 7 modal %). The most significant intersection occurred in hole P-07-02 where this unit was intersected over core lengths of 15.96 metres and 11.5 metres. Holes P-07-01, P-07-06 and P-07-09 also intersected similar altered and mineralized rocks exhibiting enhanced levels of radioactivity. Assays from these holes are presented below:

From To Interval
Hole # (m) (m) (metres) ppm -U U3O8%

P-01 174 175.17 1.17 522 0.061%

P-02 125.70 126.70 1.00 179 0.021%
P-02 127.70 133.74 6.04 294 0.034%
Incl. 132.20 133.24 1.04 768 0.089%

P-06 102.17 105.17 3.00 248 0.029%

P-09 106.49 108.49 2.00 164 0.019%
P-09 116.70 117.50 0.80 194 0.023%

The alteration and mineralization of this breccia unit suggests that it formed a permeable horizon that provided a conduit for the flow of hydrothermal fluids possibly carrying uranium. Sulphide mineralization in the breccia may have acted as a reductant that precipitated the uranium from the hydrothermal fluids. The breccia appears to follow an east - west fault zone postulated by Robertson (1958) who mapped the area for the Ontario government. Of the four holes listed above, P-1 and P-2 are closest to the fault while holes P-6 and P-9 are further away. We feel this represents a new style of mineralization not previously recognized in the Elliot Lake area. That being said, we believe the altered breccia and the fault are significant targets upon which to focus additional exploration. An airborne VTEM survey is now ready to commence, which may help to outline fault zones and possibly detect the more massive sulphide mineralization. Mr. D. Hawke, M.Sc., P.Geo, consulting geologist has also selected various intersections for additional assays in platinum group elements (PGE's), gold and other multi-elements, as well as rare earths.

As a result of the phase one drilling program, Mr. D. Hawke has recommended a further 30 holes (approx. 6000 metres) to be drilled commencing as early as February 2008. A further 6 - 8 holes to be drilled into the breccia fault, 12 holes continuing to infill the former Rio Algom drilling area, and 6 - 8 new hole targets expected to be outlined from the airborne survey. The estimated cost of this enhanced drill program is $900,000 - $1 million.

The Company's exploration work on the Serpent property is supervised by D. Hawke, M.Sc., P.Geo, consulting geologist and a qualified person as defined in NI 43-101. Drill core is being transported from the drill sites by company personnel to a secure offsite storage area for logging and splitting. Split drill core samples are being transported by commercial carrier to Activation Laboratories in Ancaster, Ontario. Activation is accredited to the ISO 17025 standard and CAN-P-1579 standards. Assay results will be reported as soon as they are received and compiled by the Company.

The Serpent River property is located about 13 kilometres east of the town of Elliot Lake on the south limb of the Quirke syncline and covers approximately 4,000 m of the contact between the Matinenda Formation and the underlying basement rocks. The Elliot Lake mining camp was once known as "the Uranium Capital of the World" and has produced more than 270 million pounds of U308 from stratigraphically-bound deposits that demonstrate remarkable consistency over extensive areas.

About International Montoro Resources Inc.

International Montoro Resources is focused on the advancement of its 100-percent optioned Elliot Lake uranium project in northern Ontario and Cup Lake/Donen uranium project in south-central British Columbia. In addition the Company (50/50) with Belmont Resources Inc. has acquired significant uranium properties located in the Central Mineral Belt Uranium District in Labrador (recently optioned to Crosshair Exploration (TSX VENTURE:CXX) and two claim blocks in the Uranium City District in Northern Saskatchewan (recently optioned the Orbit Lake- 11,109 ha block to Ultra Uranium (TSX VENTURE:ULU). Through project generation and additional discoveries, Montoro will provide shareholders with exposure and leverage to the rising global demand for uranium.


Gary Musil, President, CFO/Director

For further information visit the Company's website at and watch the Smartstox interview with President Gary Musil.

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 Company's forward-looking statements and expectations.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • International Montoro Resources Inc.
    Gary Musil
    President, CFO/Director
    (604) 683-6648
    (604) 683-1350 (FAX)
    CHF Investor Relations
    Michael Borovec
    Associate Account Manager
    (416) 868-1079, ext. 229
    CHF Investor Relations
    Cathy Hume
    (416) 868-1079, ext. 231
    Keith Bullen
    (416) 350-2794