International Montoro Resources Inc. (CVE:IMT)(FRA:O4T1) said it has mobilized an exploration team to site to conduct follow-up geological mapping and sampling on the Blackfly Vein at the gold project near Atikokan, Ontario.
The campaign will target the northern extension of the mineralized structure identified by Terra-X Minerals Inc.'s 2010-2012 diamond drilling and subsequent recommendations made by Terra-X in 2012 to test chargeability anomalies.
READ: International Montoro Resources options historic Blackfly gold property in Ontario's Atikokan camp
The targeted area, known as the Blackfly Main, exhibited significant gold mineralization along the NNE trending vein and shear zone which returned values upwards of 15 grams per ton (g/t) gold over 1.07 meters (m) in a diamond drill hole and 167 g/t gold in surface grab samples.
Terra-X also identified the Blackfly Northwest trend which was referred to as "a wider-lower grade target, and a similar style of gold mineralization to Hammond Reef hosted in a distinctive, highly magnetic quartz diorite".
This zone returned gold values in a diamond drill hole (BF10-03) of 8.26 m at 0.94 g/t gold with sporadic higher-grade areas sampling 10.96 g/t gold over 2.0 m from hole BF11-11. The 2010-2011 diamond drilling identified an area of 420 m strike length with gold mineralization across at least 50 m width which is open along strike in both directions and at depth.
International Montoro Resources said it has initiated the 50-day approval and consultation process for an exploration permit with the Ministry of Energy, Northern Development, and Mines and local First Nations communities to allow for diamond drilling, surface overburden trenching, and survey grid line cutting to aid in geophysical surveying.
During this process, the company said it will be working diligently on compiling the 2012 and prior diamond drilling, surface geophysical surveys, and available geochemistry data. Ground truthing and digitizing this data will allow the group to develop preliminary constraints on gold mineralization which will aid in developing targets for further drilling once the exploration permit is received.
The Blackfly Gold Project is located along the Marmion Fault Zone and consists of 64 unpatented mining claims totaling 1,296 hectares of land. The project is situated 300 meters south of Highway 622 and 13.6 kilometers southwest along strike of Agnico Eagle's Hammond Reef Gold Deposit (Open pit measured and indicated mineral resources at the project are estimated at 208 million tonnes grading 0.67 g/t gold containing 4.5 million ounces of gold) and is situated within a similar suite of volcanic and granitic rocks mapped as the margin of the Marmion Batholith of the south-central Wabigoon geological subprovince.
The project is situated west and immediately tied-on to Falcon Gold Corp's Central Canada Project which has reported outstanding recent drill intercepts of up to 10.17 g/t Au over 3 meters and a non-complaint "historic" resource of 230,000 ounces at 9.9 g/t gold.
Geological highlights of the project include:
- Grab samples taken near the historic shaft in 2010 ranged from 87 to 167 g/t gold
- Blackfly Main Vein was 1.07 m at 15.1 g/t gold from hole BF10-04
- Blackfly Northwest system was 8.26 m at 0.94 g/t gold from hole BF10-03.
- Geological mapping indicated the structural lineament which hosts the Blackfly Vein and bears similar alteration/mineralization can be traced for 4.4 kilometers
International Montoro Resources, which has been listed on the TSX Venture Exchange for over 25 years, is a Canadian-based emerging resource company systematically exploring its extensive property positions in:
- Atikokan, Ontario (BlackFly - Au prospect)
- Red Lake, Ontario (Camping Lake - Au prospect)
- Elliot Lake, Ontario (Serpent River/Pecors -Ni-Cu-PGE discovery) & (Uranium- REE's)
- Quebec (Duhamel -Ni-Cu-Co prospect & Titanium, Vanadium, and Chromium prospect)
- Prince George, British Columbia (Wicheeda North - Rare Earth Elements prospect)
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