Vancouver, British Columbia–(Newsfile Corp. – November 27, 2017) – RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the “Company”) announces an update on its Norwalk gold property located near Wawa, Ontario.
The Company has completed further surface exploration including trenching of a new target area called the Red Carbonate Zone (“RCZ”). A total of 15 grab samples were collected from the RCZ and have been submitted for pulp and metallic sieve analysis and fire assay.
An area of approximately 25 metres wide by 25 metres long was excavated and trenched on the RCZ. This area consists of a red-brown crystalline carbonate body which is approximately 2 metres to 5 metres in width and hosts approximately 25% quartz veining. The hanging and footwall walls of the RCZ consist of an intermediate to felsic schist.
The hanging wall, footwall and the carbonate vein are mineralized with locally up to 2 to 3% sulfides and all units have potential to be gold bearing. Historical assays from the RCZ have returned up to 0.43 ounces per ton gold.
Carbonate zones and veins of this nature are present in the Timmins and Campbell Red Lake gold camps, and are one of several host units associated with gold deposits in these camps. These carbonate veins are a significant fluid channel for gold mineralization, and normally are 30 centimetres to 60 centimetres wide.
RTM’s Red Carbonate veining at Norwalk is 2 metres to 5 metres wide in the trenched area, which is uncommonly wide when compared to carbonate veins and zonation of this type in the Timmins and Red Lake gold camps.
The strike of the RCZ is east-southeast which is generally consistent with the strike of local geophysical features detailed in the Company’s 31-line kilometre geophysical program completed in September 2017 from which 64 targets remain untested. The RCZ is situated approximately 600 metres south-southeast of the high grade Gananoque showing and accordingly, the Company will initiate work to test this 600 metre gap. The RCZ is open on strike in both directions along the local geophysical trends and is open to depth.
The Company will carry out approximately 4-line kilometres of extended geophysics to cover the area between the Gananoque showing and the RCZ and follow this work with trenching and drilling within this 600 metre gap and the general area of the RCZ. This work on Norwalk is subject to further financing being secured by the Company.
Mr. Kevin Kivi, P.Geo. is the Qualified Person for RT Minerals Corp. and approves the technical content of this news release.
ABOUT RT MINERALS CORP.
RT Minerals Corp. is a junior resource company engaged in the acquisition, exploration and evaluation of primarily gold and diamond properties in Canada. The Company’s principal mineral properties include:
Ballard Lake Property — 366 square kilometre (~141 square mile) diamond and gold property located approximately 50 kilometres northeast of Wawa, Ontario, in which the Company owns a 100% interest, subject to a 2% net smelter royalty;
Norwalk Property — Gold property located approximately 6 kilometres south of Wawa, Ontario, in which the Company has an option to earn a 100% interest, subject to a 2% net smelter royalty. The property is contiguous to the southern border of Red Pine’s Wawa Gold Project;
Dill River Property — Gold property located several kilometres southeast of Wawa, Ontario, in which the Company has an option to earn a 100% interest, subject to a 2% net smelter royalty. The property is contiguous to the eastern border of Red Pine’s Wawa Gold Project;
Golden Reed Mine Property — Gold property located 6 kilometres southeast of Wawa, Ontario, in which the Company has an option to earn a 100% interest, subject to a 2% net smelter royalty. The property is staked within Red Pine’s Wawa Gold Project; and
Dog Lake Property — Gold property located 59 kilometres northeast of Wawa, Ontario, in which the Company owns a 100% interest, subject to a 2% net smelter royalty.
The Company’s common shares are listed on the TSX Venture Exchange under the symbol “RTM” and on the OTC Pink Market under the symbol “RTMFF” with DTC eligibility for trading in the United States.
For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
RT Minerals Corp.
Toll Free: 877-581-3170
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.
Certain statements in this press release relating to the Company’s exploration activities, project expenditures and business plans are approximate and are “forward-looking statements” within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward looking statements represent management’s best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as adverse market conditions, mechanical failure, unavailability of parts, labor disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties may not achieve any category of resource(s). The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold, equity markets or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. There is no guarantee that drill results reported in this news release or future releases will lead to the identification of a deposit that can be mined economically, and further work is required to identify resources and reserves. We seek safe harbour.