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Serpent River update proves promising By Melanie Franner

Since acquiring the Serpent River property in 2006, International Montoro Resources Inc. has been building up data on it slowly and steadily. The company’s latest 2015 program on the Elliot Lake-area property saw two holes drilled to depths of 1,005 and 1,317 metres respectively. Results from the two holes – PDH No. 1 and PDH No. 2 – are indicative of a potentially significant Ni-Cu-PGE mineral deposit. From there to here The 1,840-hectare Serpent River property, which is located about 15 kilometres from Elliot Lake, has long been considered a potential uranium deposit. Historically, the property was shown to contain Drill hole No 1. cross section.

significant uranium mineralization. Information predating NI43-101 showed an indicated resource of 20,000,000 tons grading 0.037 per cent U308 or 14,800,000 pounds U308. This estimate was based on very limited drilling. Montoro’s own drilling on the property has found uranium values in mineralized quartz pebble conglomerates consistent with these historic results. But a 2009 summary of Ontario Geological Survey field work showed a strong geophysical anomaly on the claims that were previously thought to be caused by iron formation. New interpretations of the Pecors Anomaly concluded it may be the result of a mafic-ultramafic body that could contain contact-style nickel-copper-PGE mineralization similar to that found near Sudbury. Sediment sampling from nearby Pecors Lake has since shown high levels of nickel and chromium, which

Drill hole No. 2 cross section.


Ontario Mining Review

lent further weight to the analysis.

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Ontario Mining Review Spring 2016  

Ontario Mining Review Spring 2016