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Vancouver, B.C. – TheNewswire – October 27, 2022 – RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “Company” or “RTM”) is pleased to announce the acquisition of four mineral properties located in northeastern Ontario.
Highlights
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All properties are 100% owned and royalty-free, have excellent year-round all-weather road access and are drill-ready;
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The Milligan property targets the southeast extension of the volcanic stratigraphy hosting the Eastford Lake gold discovery of 142.2 g/t Au over 3.0 m announced by Explor Resources in 2009
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The Blakelock property targets a massive east-west trending magnetic high intrusive complex that was drilled in 1967;
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The McQuibban property targets a strong 3.0 km long east-west trending inferred oxide facies banded iron formation, in which one historical drill hole encountered a gold mineralized interval of 5.47 g/t Au over 1.2m; and
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The Timmins property features several mineralized fault systems that suggest close proximity to a base metal occurrence with 0.45% Cu over 1m, 0.45% Pb over 1m, and 1.4% Zn over 1m as maximum values contained within a 41 m interval within a 120 m thick host formation.
Douglas Andrews, the Company’s President and CEO, states: “We are excited to add these four 100% owned and royalty free properties to our portfolio. Historic drilling and exploration work completed by previous operators has enabled the Company to amass extensive geological data on the properties. Each property has identified anomalies and targets that are drill ready. We are pleased to add value for the Company’s shareholders through these strategic acquisitions and look forward to discussing our exploration plans in the near future.”
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Figure 1: Location map of Milligan, Blakelock, McQuibban and Timmins properties.
MILLIGAN PROPERTY – This property contains sixteen claim blocks (approximately 129.5 hectares) and is located in Milligan Township approximately 75 km northeast of Timmins, Ontario. These mineral claims cover the southeast on-strike extension of the volcanic stratigraphy hosting the Eastford Lake gold discovery of 142.2 grams per tonne gold (“g/t Au”) over 3.0 metres (“m”) announced by Explor Resources in 2009. The property contains two holes, each with gold intercepts of up to 1.95 g/t Au; one hole contains 1.52 g/t Au over 1.2m and the other hole contains 1.85 g/t Au over 1.0m (MNDM Assessment File 20000000182, 2009). The claims cover the favourable projected belt of altered volcanics that correlate with low magnetic signature. The low magnetic signature can be traced across the entire claim block for 3.0 km and the corridor remains open along strike. Several deep undrilled magnetic low anomalies identified from past geophysical surveys within the corridor have been identified on the property (MNDM Assessment File 20000000182, 2009).
BLAKELOCK PROPERTY – This property contains nine claim blocks (approximately 72.8 hectares) and is located in Blakelock Township approximately 75 km northeast of Cochrane, Ontario. The property is targeting a massive east-west trending magnetic high intrusive complex that was drilled in 1967. Two drill holes penetrated several 2.0 – 8.0m lenses of massive sulphides (pyrite, pyrrhotite and minor chalcopyrite) with no assays having been recorded (MNDM Assessment File 42H09SE0037, 1967). Future plans include diamond drilling stronger magnetic anomalies within the complex and extensively assaying 50.0+ metres of historic core with reported massive sulphide intervals within highly altered metasediments.
MCQUIBBAN PROPERTY – This property containing nineteen claim blocks (approximately 153.8 hectares) is located in McQuibban Township approximately 50 km north of Cochrane, Ontario. Past drilling of two drill holes have been reported on the property (MNDM Assessment File 20000003818, 2007). The holes were targeting a strong 3.0 km long east-west trending inferred oxide facies banded iron formation. The strong magnetic signature of the iron formation transects the entire property. One of the drill holes intersected the iron formation and encountered a gold mineralized interval of 5.47 g/t Au over 1.2m. Several stronger magnetic anomalies have been identified along the entire 3.0 km strike length of the iron formation. Future diamond drilling is planned to target the strongest magnetic responses in an attempt to extend and thicken the gold mineralization.
TIMMINS PROPERTY – This property contains sixteen claim blocks (approximately 129.5 hectares) and is located in Timmins Township approximately 50 km southeast of Timmins, Ontario. Several past drill programs were conducted on and adjacent to the property (MNDM Assessment File 42A07SE2004, 1998). Two drill holes encountered up to 150m thick intervals of intensely fractured black siltstone / argillite sedimentary sequences containing several strongly anomalous zones of disseminated and semi-massive base metal sulphides. Copper (0.45%), lead (0.45%), and zinc (1.4%) mineralization is reported in veins, fault gouge and fracture fillings. Associated chert interbeds, matrix silicification and indications of hydrothermal alteration suggests close proximity to a potential base metal mineralizing source. Additional geophysical programs are planned to trace out mineralized fault systems and argillite sequences for a distance of 1.5 – 2.0 km southeast along strike. Several geophysical targets have been identified on the property and diamond drilling is planned to intercept potential base metal mineralization.
RT Minerals owns 100% interest in all four of the above properties. No royalties encumber the properties, and all have excellent year-round all-weather road access.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Mr. Garry Clark, P.Geo., a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
1Gold mineralization on Explor Resources’ Eastford Lake property does not indicate similar mineralization is present on RTM’s Milligan property.
All references herein to past or historic drilling, core analysis and assay results, has been carried out by previous owners or operators. The past drill core intercepts and assay results are not known to be true widths at this time.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol “RTM” and has 60,044,654 common shares issued and outstanding. The Company holds an option to acquire a 100% interest in the Link-Catharine RLDZ gold property comprised of fifteen unpatented single cell mining claims with a total area of 220 hectares in one claim block. The Link-Catharine property is located twenty-two kilometres south-southeast of the town of Kirkland Lake, Ontario.
For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
Telephone: 403-200-6542
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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