International Montoro Resources Inc (CVE:IMT)(FRA:O4T1) is set for an airborne geophysics survey of its 1,296 hectare (ha) Blackfly gold project in northwestern Ontario, it told investors Thursday.
The study will collect data over 203-line kilometers at 100 metre (m) spacing and be performed alongside Falcon Gold's (CVE:FG) (OTCPINK:FGLDF) recently announced airborne survey at the Central Canada Gold asset.
READ: International Montoro Resources acquires two high grade gold projects in potential district scale camp in Newfoundland
The data will be used to correlate historic gold mineralization, which was identified at the property by past operators.
That gold was found via diamond drilling and surface mapping along the Blackfly Main, Northwest, and Southwest mineralized structures.
Blackfly lies 300 metres south of Highway 622 and 13.6 kilometres (km) southwest along strike of Agnico Eagle's Hammond Reef gold deposit, which boasts estimated open pit measured and indicated resources of 208 million tonnes grading 0.7 g/t gold for 4.5 million ounces of gold.
It also lies west and immediately tied-on to the Falcon Gold project, which has generated outstanding recent drill intercepts of up to 10.2 g/t of the yellow metal.
Highlight results from the Blackfly asset include:
- Grab samples taken near the historic shaft in 2010 ranged from 87 to 167 g/t gold.
- One hole at the Blackfly Main Vein hit 1.1 m at 15.1 g/t gold
- Another hole at the Blackfly Northwest system hit 8.3 m at 0.9 g/t gold.
- Geological mapping indicated the structural lineament which hosts the Blackfly Vein and bears similar alteration/mineralization can be traced for 4.4km.
Vancouver-based International Montoro has an extensive exploration property portfolio, including gold prospects in Newfoundland and Ontario, where it also has uranium, rare earths, and nickel, copper, PGE discovery.
In Quebec, it has a nickel, copper, cobalt prospect and a titanium, vanadium, and chromium prospect. In BC, it has its Wicheeda North rare earths prospect.
Shares in Toronto flew nearly 6% higher on the day, at C$0.090.
---Updates for share price---
Contact the author at giles@proactiveinvestors.com
