Int'l Montoro (IMT-V) Oct 14, '14 is arranging a non-brokered flow-through private placement to raise up to $600,000. The Company will be issuing 5.0 million units at $0.12. Each unit will consist of one flow-through common share and a one year transferable (non –flow through) share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of one year at a price of $0.18 per share.
With the successful raise of flow through financing IMT proposes a drill program on Serpent River to test strong geophysical Pecors magnetic anomaly in the northwest portion of the property after the fourth positive review of the Pecors Anomaly. "Management is very encouraged and developing a work program to further test this anomaly as it may be the result of contact style nickel-copper-PGE mineralization similar to that found to the east at Sudbury."
Phase 2 Drilling exploration programs are also recommended for the Serpent River-Ontario and Crackingstone/Orbit-Saskatchewan uranium/REE properties while uranium prices continue to be bullish.
Montoro is focused on advancing its 100% owned Serpent River - Elliot Lake, Northern Ontario, Uranium/REE project & Pecors magnetic anomaly – potential Ni-Cu-PGE. The property comprises 10 mineral claims (115 units) approx. 1,840 ha.
Montoro has also acquired a 100% interest in 23 mineral claims prospective for Rare Earth Elements, in 2 separate claim blocks covering 18,743 acres (7,585 ha) in the new Tacheeda Lake camp; and 3,330 acres (1,348 ha) Carbo area. Montoro also holds a 100% interest in 5,604 acres (2,268 ha, 5 claims – the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C.
In addition the Company will continue the development with Belmont Resources Inc. (50/50) of its Crackingstone – 2,.427 acres (982 ha) and Orbit –27,450 acres (11,109 ha) Uranium properties in the Uranium City District – Northern Saskatchewan. |
