While the global economy continues to require large amounts of conventional base metals like copper, nickel, and zinc as primary inputs, new technological applications are placing increasing demand on many more scarce metals and minerals.
“Battery metals” such as lithium, cobalt and (more recently) vanadium have already attracted enormous attention. This has somewhat overshadowed another class of scarce minerals which is also vital in numerous hi-tech applications: the “rare earths”, i.e. rare earth elements (REE).
International Montoro Resources Inc (TSX: V.IMT, OTCQB: IMTFF, FSE: O4T1) is a project generator that has acquired a diversified collection of prospective properties that span a number of metals markets including: nickel, copper, cobalt, uranium, titanium and chromium. More recently, on February 6, 2019; Montoro added a new dimension to its assets: rare earths.
The Company believes that the 3,500 hectares of claims it has recently acquired constitutes the most prospective land package in an emerging REE mining exploration district in central British Columbia that has attracted several mining companies. More on this later.
In 2008, Spectrum Mining Corporation completed 4 diamond drill holes in what is now known as the Wicheeda Properties, near Prince George, British Columbia. Included among these historical drill results was a significant discovery in the form of a long intercept:
48.64 meters @ 3.55% REE (rare earth element) mineralization.
Spectrum followed up this exploration with an additional 15 diamond drill holes in 2009. Even more robust (historical) numbers were produced, including:
72.0 meters @ 2.92% REE
144 meters @ 2.20% REE
No further exploration took place by Spectrum. However, when this claim block of properties was recently acquired by Defense Metals Corp. (TSX: V.DEFN) in late 2018, renewed interest in this district was kindled.
Montoro has acquired three blocks of claims in this district: Wicheeda North, Wicheeda South, and Wichcika Creek. Wicheeda North is almost directly adjacent to Defense Metals’ holdings. Wicheeda Creek and Wicheeda South lie a few kilometers to the southeast.
Gary Musil, President and CEO of International Montoro Resources explained to Stockhouse Editorial what attracted the Company to this district and these specific parcels of land.
“IMT was a previous claim holder in 2010-2015 in the Wicheeda area. We had completed an airborne electromagnetic, magnetic and radiometric geophysical survey and small sampling program over the current Wicheeda North claims at that time. The Spectrum information, now public, indicates that an extension of the discovery zone is trending to the northwest which has encouraged IMT to return and embark on a more aggressive exploration program in 2019. The Wicheeda South property was previously owned and explored by Spectrum. A sampling program, the ‘fluorite grid’ was completed with encouraging results. The increase in high tech applications and demand for REE’s has motivated IMT to return to this most promising discovery area and take a more aggressive second look.”
Combined, the three Wicheeda claim blocks exceed the land holdings of Defense Metals and represent the second largest land package in this emerging district, geologically contained in the Foreland Belt of the Rocky Mountain Trench.
image: https://ci4.googleusercontent.com/proxy/Tc20WpuctgH5Hi2e0EjvW7No7hEVw7oqVO4VvUevjo82ewPKq7FpC6sr-HSo4zqkkS7oyqKCm3DTTZyXHwszMCUq7oBL8_LQjhrT5Jy2PuzSfTJJF1N-x25MwnzGbCykZmZv5OOuyXKDeTdMQ4dAecLL-8d9A1kGQa4=s0-d-e1-ft
A 2010 airborne geophysical survey (654 line kilometers) and soil sampling was conducted on portions of Wicheeda North. The historical results suggested a significant magnetic anomaly, with the recommendation that this be followed up with further field exploration and property-scale mapping.
A Wicheeda South, rock geochemical sampling and prospecting was conducted in 2009. A historical grab sample here returned readings of 7,064 ppm Cerium, 4,461 ppm Lanthanum, and 1,387 ppm Neodymium. A “multi-element anomaly” was identified over a span of 1 kilometer.
With mining valuations extremely compressed across the board (Montoro’s market cap is a tiny $1.5 million), any significant discovery on this property – or one of IMT’s other assets – is enough to propel the Company’s valuation to multiples of present levels.
For investors, it’s hard to resist adding a component of such micro-caps to one’s portfolio. Even a small investment can yield a substantial position in these companies, with the prospect of a big payoff should any one of them yield a major discovery.
Mining is notoriously cyclical, so it would be imprudent for investors to expect the current “sale” on these companies to last indefinitely. As investors look for exposure to some of the hi-tech metals markets of the 21st century, International Montoro Resources is an economical addition to investors’ mining portfolios.
FULL DISCLOSURE: This is a paid article of Stockhouse Publishing.
About International Montoro Resources Inc.
(i) In February 2019 Montoro entered into acquisition agreements with various vendors, to acquire over 3,500 ha of claims in the Cariboo Mining Division, British Columbia, with one claim block adjoining the well-known Wicheeda REEproject.
(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 locatedUranium/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-Coprospect 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.
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Neither the 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.
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 Companies forward-looking statements and expectations.
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