RTM:CC - RT Minerals Confirms Extension of Surface Nickel Cobalt Chromite Pt and Pd Mineralization in the Ultramafic Layered Intrusion on the Nordica Property Ontario and Terminates Option on Link Catherine RLDZ Gold Property Ontario
(TheNewswire)
Vancouver, BC - TheNewswire - September 29, 2023 - RT Minerals Corp. (TSXV:RTM)(OTC:RTMFF) (the “ Company ” or“ RTM ”) is pleased to announce results from the second group ofsurface samples from the Nordica property carried out in the summer of2023. The Nordica property is located approximately 40kms west ofKirkland Lake and about 60kms southeast of Timmins, Ontario.
Current assay results are from two samples from asecond location of mineralized outcrop located about 5m from the firstreported Cr, Ni, Co , Cu, Pt and Pd discovery outcrop announced August3, 2023. These first and second sample locations are situatedapproximately 2.7 kms to the northwest of the historic discovery ofsimilar mineralization on the property.
The two most recent samples from this second outcropdiscovery are samples 63463 and 63466. Massive to semi-massive layeredmineralized outcrop was sampled and assayed. Sample 63463 (massivechromite) returned 566 ppm Ni, 12.03% Cr, 618 ppm Vanadium(V) and0.15g/t Pd. Sample 63466 (semi-massive chromite) returned 679 ppm Ni,6.47% Cr, 350 ppm V and 108 ppm Co.
This second outcrop of mineralized ultramafic intrusiveis additional evidence that ultramafic layered intrusive bedrockexists outside the immediate 400m by 400m area of the historicdiscovery outcrop, trenching and diamond drill holes ( Figure1)situated 2.7 kms to the southeast. This currently sampled section ofexposed Cr, Ni, Co, Cu, V, Pt and Pd mineralized outcrop is at least5.0m thick and appears to widen to the north.
The outcrops are aligned with magnetics that stronglysuggest that the entire Nordica Intrusion could extend to a total of5 kms of strike length. In addition, the outcrops are evidence thatthe intrusion is located further westward within an area previouslymapped as metavolcanics and as such significantly increases theinferred potential size of the Nordica Intrusive complex (Figure2).
The current inferred size of the Nordica intrusion(excluding magnetic signatures) is approximately 250 m wide (drillholes 98-01, 98-02 and outcrop) , approximately 2.7 kms long ( drillhole 98-01 to the Sylvia Creek outcrop), and approximately 240 m deep(drill hole 98-01 and 98-02).
The company has developed a plan of follow upexploration within this new high priority target area, includingadditional surface exploration to locate additional ultramaficassemblages followed by diamond drilling. Diamond drilling will becollared to intercept the additional ultramafic assemblages within thelayered Nordica intrusive ( pyroxenite, peridotite and Gabbro) thatcarry Ni, Cu, Pt, Pd, Cr and Co mineralization. Drill permits are inplace and further exploration on Nordica is subject tofinancing.
FIGURE 2
Quality Controls, Sampling andAssaying
Both of the 3 kg chip samples from outcrop detailedherein were assayed using Total Digestion ICP-OES and Fusion XRF.Assaying was managed and carried out by Activation Laboratories Ltd.,Timmins, Ontario and Swaslabs Ltd., Kirkland Lake, Ontario, both areISO/IEC 17025 accredited assay labs. The current assay resultsdetailed herein are from RTM’s initial field sampling program. Theassays contained herein may not be indicative of all rock types.Additional sampling is required to determine the significance andextent of these results.
Option Terminated, Link CatherineRLDZ Gold Property, Ontario
RTM has abandoned its option to earn 100% of theLink-Catherine RLDZ Gold Property (“LCGP”) located approximately22 km south southeast of Kirkland Lake, Ontario.
The Company had early exploration success on the LCGPthroughout 2020 and early 2021, but was unable to demonstrate gradeand continuity of mineralization in follow up drilling of the specificzones targeted by the Company in the 2021-22 field season and propertyassessment review.
In addition, with the weakening of the senior andjunior gold sector, the required continued contractual RTM work andproperty payments for LCGP, no longer meets RTM’s risk to rewardratio, or RTM’s view of the reasonable current fair market value fora property at this stage of exploration.
Accordingly, the Company will write off Exploration andEvaluation Assets relating to the LCGP for the year ending November30, 2023.
RTM continues to hold 11 rare earth, criticalmineral-base metal, and gold properties-projects, aggregating over9,000 Ha of prospective exploration ground within a 150 km radius ofTimmins, Ontario. All of these properties-project areas are stakedclaims (MLAS, Ontario), with 8 of the properties royalty free, and allof these claims are 100% owned by RTM.
Qualified Person
The technical information contained in this newsrelease 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 Minerals Projects.
About RT Minerals Corp. RTM is a junior exploration company listed on the TSXVenture Exchange under the symbol “RTM”. The Company holds a 100%interest, largely royalty-free, in a portfolio of rare earth element,gold and base metal properties in Ontario, Canada.
Nordica Property (Cu, Ni, Co, Cr, Pt, Pd) is 100% owned by RTM. It iscomprised of 34 claims in Nordica Township that cover the ultramaficlayered Nordica Intrusive Complex in the Abitibi Greenstone Belt,within the Superior Province, 60 km southeast of Timmins, Ontario.Nordica is prospective for copper, nickel, cobalt, chromium, andpalladium mineralization. Previous exploration activity on the Nordicaproperty has encountered Cu grading up to 0.292% (rock-grab samples),Ni up to 0.24% in drill core over 1.0 m, Co up to 614ppm (outcrop), Crup to 17.7% (grab-rock sample) and Pd up to 1.2ppb (outcrop chip anddrill core over 3 1.0m)(MNDM files OFR 6102). There is a 2.5% NSR onall RTM Nordica claims.
Kenogaming, Pharand I and Pharand IIProperties (Ni, Cr, Co) consists of 38 claimblocks that are 100% owned with 32 claims royalty free and 6 claimssubject to a 2% NSR royalty. The properties are situated in Kenogamingand Pharand Townships in the Northern Swayze Greenstone Belt, locatedwithin the Abitibi sub-province of the Superior Province, southwest ofTimmins, Ontario. The Properties are located within the Hanrahanassemblage which is confined to the southeastern part of the NorthernSwayze Greenstone Belt. Cumulate ultramafic bodies are the specifictargets comprising the Kenogaming, Pharand I and Pharand II prospects.In 1979, previous operators tested a strong magnetic anomaly with a184.5m long diamond drill hole, which intersected up to 0.25% nickelin carbonated and serpentinized cumulate ultramafic with interbeds ofchlorite and talc alteration over a 3.0m section at the bottom of thehole.
Ireland Property (Rare Earth Element) is a royalty free 52 claim blockcovering an inferred carbonatite complex (the “Ireland Complex”)located in Ireland Township, 45 km northeast of Smooth Rock Falls,Ontario. The Ireland Complex is 100% owned by RTM and is approximately4.0 km long, 2.8 km wide, oval shaped and is positioned along asouthern extensional splay fault contained within the KapuskasingStructural Trend. The Kapuskasing Structural Trend contains severalwell documented carbonatite complexes that contain Niobium, Iron,Titanium and Rare Earth Element resources within various assemblagesof carbonatite rocks.
Case Batholith Group 1 and 190 ClaimStaking (Rare Earth Element) consists of 90claims covering the Case Batholith centered on Heighington Township,85 km northeast of Cochrane, Ontario. The Case Batholith propertiesare 100% owned and royalty free. The properties occur within theboundaries of the Case Batholith and are specifically located inHeighington, Kenning, Sequin, and Case Townships. Five properties aresituated 12 km north of the Power Metals Case Lake lithium/cesiumdiscovery in Steel Township. The 190 newly staked claims adjoin PowerMetals and Beyond Lithium land holdings located in the southeasternportion of the Case Batholith.
Case Batholith Group 2 (Rare Earth Element) consists of four properties (113 claimblocks) that are 100% owned and certain of the claims are subject to a2% NSR royalty, within the boundaries of the Case Batholith innorthern Ontario. The four properties are in Agassiz township (29claims), Potter township (51 claims), Seguin/Challies township (14claims) and Bragg township (19 claims), Ontario. Substantially all theclaim blocks have been acquired based on magnetic signaturesresembling east - west trending pegmatitic dykes and laccolithstructures contained within the tonalite/granodiorite rock assemblagesof the Case Batholith.
Sheba-Michie-Alma (Cu, Ni , Co, Cr, Pt), (“Sheba”) consists of 194 mineralclaims within the northwest-southeast trending Michie, Sheba and AlmaTownship corridor in the Abitibi Greenstone belt, located within theSuperior Province, 70 km southeast of Timmins, Ontario. The Shebaproperty is 100% owned and royalty-free. The Sheba property isprospective for Cu, Ni, Co, Cr, Pt, and Pd mineralization (MNDM files42A02SE2019). Previous limited surface sampling activities haveencountered 0.19% Cu, 0.14% Ni and 0.34% Cr immediately west of theSheba South block in ultramafic pyroxenite-peridotite assemblages.
Kendrey Property (Rare Earth Element) consists of 32 claims in the Kendreyand Colquhoun Townships located 14 km southeast of Smooth Rock Falls,Ontario that are 100% owned and royalty free. The property covers whatappears to be a large, inferred carbonatite complex that isprospective for rare earth elements, primarily niobium. The intrusiveis approximately 2.8 km wide and 2.7 km long. It is positioned along asoutheastern extensional splay fault belonging to the KapuskasingStructural Trend.
Galna / Moody Property (Cu, Ni, Co, Cr) consists of four separate claim blockstotalling 24 cells in the Galna and Moody Townships, located 35 kmeast of Iroquois Falls, Ontario. The Company acquired 100% interest inthe property by map staking. Timmins Property (Base Metals) is aroyalty free 16-claim block located approximately 50 km southeast ofTimmins, Ontario, and is 100% owned by RTM. The property featuresseveral mineralized fault systems that suggest proximity to a basemetal source.
Milligan Property (Gold) is a royalty free 16-claim block locatedapproximately 75 km northeast of Timmins, Ontario, and is 100% ownedby RTM. Milligan Property (Gold) covers the southeast extension of thevolcanic stratigraphy hosting the Eastford Lake gold discovery of142.2 g/t Au over 3.0 m announced by Explor Resources in 2009.
Blakelock Property (Gold) is a royalty free 9-claim block located approximately75 km northeast of Cochrane, Ontario, and is 100% owned by RTM. Theproperty is host to a massive east-west trending magnetic highintrusive complex that was subject to limited drilling in 1967.
Mcquibban Property (Gold) is a royalty free 19-claim block locatedapproximately 50 km north of Cochrane, Ontario, and is 100% owned byRTM. The property hosts a strong 3.0 km long east-west trendinginferred oxide facies banded iron formation, in which one historicaldrill hole encountered a gold mineralized interval of 5.47 g/t Au over1.2m.
For more information : please visit the company’s website at www.rtmcorp.com.
On behalf of the Board and forfurther information contact:
Mr. William Elston, Director
RT Minerals Corp. ; Telephone: (604) 725-0604
Neither the TSX Venture Exchange norits Regulation Service Provider (as the term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy of accuracy of this news release. Forward-Looking Statements:This news release contains certain forward-looking statements, whichrelate to future events or future performance and reflectmanagement’s current expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees, and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, but not limited to, marketconditions, 5 availability of financing, actual results of theCompany’s exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR at www.sedar.com.These forward-looking statements are made as of the date hereof andthe Company does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
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