RTM:CC - RT MINERALS CORP. Acquires Rare Earth Element Mineral Prospect in Northern Ontario Canada
(TheNewswire)
Vancouver, B.C. – TheNewswire - November 14, 2022 – RT Minerals Corp. (TSXV:RTM)(OTC:RTMFF) (the “Company” or “RTM”) ispleased to announce that it has acquired by map staking (MLAS) 52claims consisting of approximately 421 hectares covering an inferredcarbonatite complex (the “Ireland Complex”) located in IrelandTownship, 45 km northeast of Smooth Rock Falls, Ontario.
Highlights
-
The Ireland Complex is 100% owned androyalty-free.
-
The Ireland Complex is positioned along a southernextensional splay fault contained within the Kapuskasing StructuralTrend, which contains several well documented carbonatite complexesthat contain niobium, iron, titanium and rare earth element resourceswithin various assemblages of carbonatite rocks.
-
Observations from existing magnetic signatures over theIreland Complex resemble that of the magnetic signature which iscoincident with the REE Niobec Mine in Quebec
-
The project qualifies for the Ontario GovernmentCritical Minerals Directive issued in 2022 to find sources ofstrategic minerals in conjunction with the Ontario Junior ExplorationProgram for 2022.
Douglas Andrews, the Company’s President and CEO,states: “ We are pleased toadd a Rare Earth Element prospect to our portfolio of properties. Withthe assistance of government initiatives such as the Ontariogovernment’s Critical Minerals Directive and the federalgovernment’s new Critical Mineral Exploration Tax Credit, we hope toposition the Company to capitalize on the growing global demand forminerals that are crucial to technologies such as electric vehiclebatteries, smartphones and laptops.”
The Ireland Complex is approximately 4.0 km long, 2.8km wide, is oval shaped and is positioned along a southern extensionalsplay fault contained within the Kapuskasing Structural Trend. TheKapuskasing Structural Trend contains several well documentedcarbonatite complexes that contain niobium, iron, titanium and rareearth element (“REE”) resources within various assemblages ofcarbonatite rocks (Figure 1).
Figure 1 – Location map of Ireland Complex
Observations from existing magnetic signatures over theIreland Complex resemble that of the magnetic signature which iscoincident with the REE Niobec Mine (“Niobec”) inQuebec 1 , which is owned and operated by Magris Performance MaterialsInc. At Niobec, the central and inner core magnetic low signaturecontains the niobium and REE mineralization (Figure 2). Magnetic datacovering the Ireland Complex suggests the potential development of anouter circular high magnetic, magnetite rich pyroxenite ring. Thisring transitions into an inner ring of a calcite-sovite carbonatite toa central low magnetic signature inner core of dolomitic rauhaugitecarbonatite. It is this area and location that represents anexploration target for Rare Earth Elements (REE) (Figure 2).
Figure 2 – Illustration of magnetic signatures ofNiobec Mine in Quebec 1 (top) and Ireland Complex (bottom).
There is no known drilling on the Ireland Complex todate. There have been past limited geochemical exploration programsconducted over the Ireland Complex which have indicated elevated concentrations of the REE consisting of cerium(Ce), gadolinium (Gd), lanthanum (La), neodymium (Nd), praseodymium(Pr), samarium (Sm), and titanium (Ti) (MNDM-Assessment file technicalreport 20000004588). These specific REE and titanium suggest anassociation with, or the occurrence of, a carbonatite intrusiveprospective for containing REE mineralization.
The entire Ireland Complex is covered by thick glacialoverburden. Future initial drilling pending financing will start withthe main focus on confirming the carbonatite complex. Drilling willinclude the testing of the outer high magnetic ring for titanium,copper and iron, and testing the inner core (low magnetic signature)for REE mineralization.
RT Minerals owns a 100% interest in the Ireland Complexand no royalties encumber the project. The project qualifies for theOntario Government Critical Minerals Directive issued in 2022 to findsources of strategic minerals in conjunction with the Ontario JuniorExploration Program for 2022.
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 Mineral Projects.
1 TheIreland Complex and carbonatite target owned by the Company is anexploration target with no resources or reserves and is not known tohost like-mineralization as is present at Niobec. The figures hereinof the magnetic highs and lows of Niobec, and RTM’s Irelandproperty, are general and interpretive comparative magnetic signaturesonly and do not represent the presence of REE mineralization onRTM’s Ireland property.
2 Goldmineralization on Explor Resources’ Eastford Lake property does notindicate similar mineralization is present on the Company’s Milliganproperty referenced below.
All references herein to past or historic drilling,core analysis and assay results, has been carried out by previousowners or operators. The past drill core intercepts and assay resultsare not known to be true widths at this time.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration companylisted on the TSX Venture Exchange under the symbol “RTM” and has60,044,654 common shares issued and outstanding. The Company holds anoption to acquire a 100% interest in the Link-Catharine RLDZ goldproperty comprised of 15 unpatented single cell mining claims with atotal area of 220 hectares in one claim block. The Link-Catharineproperty is located 22 km south-southeast of the town of KirklandLake, Ontario. The Company also owns a 100% royalty-free interest infour drill-ready gold properties in Ontario: the Milligan, Blakelock,McQuibban and Timmins properties.
The Milligan gold property is a 16-claim block (129 Ha)located approximately 75 km northeast of Timmins, Ontario, that coversthe southeast extension of the volcanic stratigraphy hosting theEastford Lake gold discovery of 142.2 g/t Au over 3.0 m announced byExplor Resources in 2009 2 .
The Blakelock gold property is a 9-claim block (73 Ha)located approximately 75 km northeast of Cochrane, Ontario that ishost to a massive east-west trending magnetic high intrusive complexthat was subject to limited drilling in 1967.
The McQuibban gold property is a 19-claim block (153Ha) located approximately 50 km north of Cochrane, Ontario that hostsa strong 3.0 km long east-west trending inferred oxide facies bandediron formation, in which one historical drillhole encountered a gold mineralized interval of 5.47 g/t Au over 1.2m(MNDM Assessment File 20000003818, 2007).
The Timmins base metal property is a 16-claim block(129 Ha) located approximately 50 km southeast of Timmins, Ontariothat features several mineralized fault systems that suggest closeproximity to a base metal source.
For more information on the Company and its properties,please visit the Company’s website at www.rtmcorp.com .
FOR FURTHER INFORMATIONCONTACT:
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 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 certainforward-looking statements, which relate to future events or futureperformance and reflect management’s current expectations andassumptions. Such forward-looking statements reflect management’scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Readers are cautioned that theseforward-looking statements are neither promises nor guarantees, andare subject to risks and uncertainties that may cause future resultsto differ materially from those expected including, but not limitedto, market conditions, availability of financing, actual results ofthe Company’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.
Copyright (c) 2022 TheNewswire - All rights reserved.