MONTORO-BELMONT UPDATE ON THE CENTRAL MINERAL
BELT, URANIUM DISTRICT, LABRADOR PROPERTIES
Further to our news release of September 14,2006, International
Montoro Resources Inc.(“IMT”) and Belmont Resources
Inc. (“BEA”) (Montoro-Belmont JV) are pleased
to announce the receipt of a NI 43-101 Technical Report on
the potential of the recently acquired Stormy Lake and Partridge
River claims. The two properties total 32.0 square km. (128
claims), and constitute the Companies’ Central Mineral
Belt uranium projects. They are located 95 km NW and 165 km
WNW, respectively, from Goose Bay, Labrador.
James G. Burns, B.Sc., P.Eng., Consulting Geologist, an independent
qualified person under NI 43-101 reported the following:
“The Partridge River claims and immediate
area are underlain by a variety of rock units including
feldspar porphyry and quartz-feldspar porphyry of the
Letitia Lake group, various phases of the Arc Lake syenite
intrusion, various gneissic phases of the Red Wine Alkaline
Complex, altered granite and various members of the
Bessie Lake formation of the Seal Lake group. Sedimentary
- volcano units of the Letitia Lake group and the Bessie
lake formation strike northeasterly, are tightly isoclinally
folded, and are in thrust contact with the intrusive
units. An extreme schsitosity has been introduced into
the rocks within the approximately 1 km wide fault (thrust)
zone.
Central to the Stormy Lake claims is a north /
south striking, synclinally folded band of conglomerate,
quartzite and amygdaloidal basalt units of the Bessie
Lake formation of the Seal Lake group. These units are
in intrusive contact to the east and west with granite
phases of the Nipishish Lake intrusive suite, and to
the immediate north of the licence, overlie and are
in unconformable contact with rhyolite ignimbrite flows,
breccia agglomerate and bedded tuff of the Sylvia Lake
formation of the Bruce River group. The projection of
the unconformity is southward onto the Belmont-Montoro
claims. The conglomerate unit, is the host to the Stormy
Lake uranium occurrence located just to the north of
the property, is composed predominately of closely packed,
well rounded but stretched, milky white, quartz pebble
and cobbles with much lesser quantities of rhyolite,
quartz-feldspar porphyry, siltstone, shale and mafic
volcanic pebbles and cobbles within a fine to medium
grained quartzite matrix. It grades laterally and vertically
to a thick predominately magnetite laminated, crossbedded,
blue-gray quartzite. Schistose mafic volcanic units
are intercalated with conglomerate and quartzite towards
the base of the Bessie Lake formation.
The Belmont-Montoro Partridge River and Stormy
Lake properties have substantial merit as potential
settings for unconformity-related uranium deposits.
Deposits of this type comprise a significant proportion
of the worlds uranium reserves. One very important feature
of these types of deposits is their very high average
grade which in most deposits is several percent U3O8
and in some deposits tens of percent U3O8.
In addition to uranium, these deposits also may contain
anomalous to economic concentrations of Ni, Co, Ag,
Mo, Cu, Pb, Zn, Bi, Se, As, V, Au and PGE (platinum
group elements).
2-Phased, multi-disciplined exploration
programs for both properties are proposed as the next
logical procedure to evaluate their economic potential.
Total costs for both properties are $150,000
for Phase I and $1,280,000
for Phase II.”
The Companies have immediately contracted Fugro Airborne
Surveys Corp. who have been set up in Labrador throughout
the summer, to conduct helicopter borne, magnetic and radiometric
surveys to be flown over the entire properties. Further details
of these surveys will be released as soon as completed and
interpreted.
The Technical Report will be filed concurrently on SEDAR
along with this News Release.
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