RT Minerals Corp. Announces the Discovery of Surface Outcrops of Green Carbonate and Drilling Update at Link-Catharine Gold Property, Kirkland Lake, Ontario
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2021) - RT Minerals Corp. (TSXV: RTM) (OTC: RTMFF) (the "Company" or "RTM") is pleased to announce that drilling at RTM's Link-Catharine Gold Property has now collared hole CA-21-03 after having completed the first two holes of the current program CA-21-01 and CA-21-02, as summarized below. The first phase of drill-bit exploration for 2021 consists of a contemplated seven-hole drill program. The drill program is testing several anomalies outlined by a 3D Distributed Array IP geophysical survey ("3D-IP Survey") completed for the Company in January 2021.
Significant Green Carbonate, Mafic-Ultramafic Surface Outcropping Discovered
In addition to the below drilling update, RTM is also pleased to announce that it has discovered two significant and separate surface outcrops that host the favourable mafic, ultramafic and green carbonate package with narrow quartz veining and sulphides. Several 1kg to 4kg samples have been taken from these newly discovered outcrops. The outcrops were discovered during drill rig mobilization and will now be entirely stripped and sampled to determine the surface dimension and potential for at-surface mineralization. The outcrops appear to be part of the same favourable geologic package that the Company is drilling to depth, as described below.
Update on Drillhole CA-21-01
The first hole of the phase one drill program, CA-21-01, has intersected the favourable mafic, ultramafic and green carbonate-fuchsitic geologic package from 45m to 233m. This section consists of intermittent and primarily narrow quartz veining and alteration containing mostly trace and up to 3% fine pyrite, with one 2m interval containing 4% to 10% fine pyrite. A sub-section totaling approximately 54m located (from 183m to 237m) is viewed by the Company as being host to the more prospective geology and sulphide mineralization within CA-20-01. The hole was stopped at a depth of 240m.
Update on Drillhole CA-21-02
CA-21-02 has intersected the favourable ultramafic package consisting primarily of ultramafics with some intermittent green carbonate. Approximately 55m of the 168m hole contains intermittent narrow quartz veining with less than 2% of fine sulphides. The hole was stopped at 168m in core length.
Update on Drillhole CA-21-03
Drilling has now commenced on drillhole CA-21-03, having reached approximately 25m in total depth as at the date of this news release. From the drill collar and throughout the first 25m, drill hole CA-21-03 has intersected the favourable ultramafic package consisting of green carbonate-fuchsitic host. This 25m section is associated with quartz veining and sulphides, visually akin to those observed in drill hole CA-20-01 during drilling in the fourth quarter of 2020. Hole CA-21-03 is testing the east to west width and dip of the gold-bearing green carbonate-fuchsite previously encountered in CA-20-01. In addition, the current drill hole, CA-21-03, will also drill in proximity through the three en-echelon gold sections announced December 1, 2020 by the Company to ascertain the potential to connect these sections at depth. Drill hole CA-21-03 is planned to target an end-depth of 400m.
The drill collars of the above three holes are spaced about 180m apart on two separate subparallel 3D-IP Survey targets. The holes are orientated to drill generally perpendicular or on an oblique orientation to intersect the north-south trending gold bearing mafic, ultramafic and green carbonate package, which generally appears at this point in time to align and correlate with the anomalies identified by the previously announced 3D-IP Survey.
Drill core from the above holes and samples from the newly discovered outcrops are being prepared for assay submission.
The Link-Catharine Gold Property is located approximately 25 km southeast of Kirkland Lake, Ontario, within an infrastructure-rich area. The project is the subject of an earn-in option agreement, as announced by the Company on September 29, 2020, under which RTM may earn up to 100% interest, subject to a 2% NSR.
Mr. Garry Clark, P.Geo., is the Qualified Person for RTM and he has reviewed and approved the technical content of this press release.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol "RTM". The Company currently has 43,122,988 shares outstanding. RTM holds 100% interest in the Norwalk gold property located near Wawa, Ontario. The Company also holds an option to acquire 100% interest in the Link-Catharine RLDZ gold property with a total area of 544 acres, and subject to shareholder and regulatory approval, RTM will acquire control of a 100% interest in a further 24,536 acres of mineral properties (subject to a 2% GSR) that adjoin the RTM Link-Catharine property. Consideration to be paid for these properties will be the issuance of 21,000,000 Tier 2 (TSX.V) Surplus Escrow Shares (subject to a 36 month escrow release format) under the proposed acquisition of Catharine Gold Inc., as announced by the Company by news release dated March 24, 2021.
For more information on the Company and its properties, please visit RTM's website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Donald (Dan) M. Clark
Chairman, President and Chief Executive Officer
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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80568