International Montoro Resources reports its summary of field work done by the Ontario Geological Survey on the Serpent River property, Elliot Lake, Ontario.
The area was selected for mapping by the OGS because of renewed uranium exploration in the area and because previous published mapping of Proterozoic rocks in the area, dates mainly from the late 1950s and early 1960s. The OGS comments specifically on a large airborne magnetic anomaly outlined by a Geotech VTEM–electromagnetic survey conducted by Int. Montoro, Pele Mtn. & Verbina in 2008 and acquired by the OGS in 2009. A large portion of this magnetic anomaly is contained within Montoro’s Serpent claims and is coincident with a regional gravity high. Previously it was thought that these anomalies were caused by iron formation. However; in this recent study the OGS came to the conclusion that the magnetic anomaly is likely caused by a Paleoproterozoic mafic intrusion.