RTM:CC - RT Minerals Corp. Stakes Additional Claims to Expand Boundary of 100% Owned Sheba Property Ontario
(TheNewswire)
Vancouver, B.C. – TheNewswire - July 7, 2023 – RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “Company” or “RTM”) announces thatit has staked an additional 150 mineral claims totalling approximately2,650 hectares within the northwest-southeast trending Michie, Shebaand Alma Township corridor in the Abitibi Greenstone belt, locatedwithin the Superior Province, 70 km southeast of Timmins Ontario(Figure 1). The additional claims surround the initial 54 ShebaNorth, Sheba South and Sheba East claim blocks recently acquired bythe Company (see June 13, 2023 and July 5, 2023 news releases)(collectively, the “Sheba” property). The Sheba property is 100%owned and royalty-free.
The Sheba property is prospective for Cu, Ni, Co, Cr, Pt, and Pdmineralization (MNDM files 42A02SE2019). Previous limited surfacesampling activities have encountered 0.19% Cu, 0.14% Ni and 0.34% Crimmediately west of the Sheba South block in ultramaficpyroxenite-peridotite assemblages. Whole rock analysis of these unitsis substantially identical to the peridotites and associated Nimineralization that occurs in Langmuir Township, 36 km on trend to thenorthwest.
The pyroxenites-peridotites exhibit strong magnetic signatures and theentire claim block covers extensive geophysical magnetic anomaliesthat are currently interpreted as peridotite intrusive bodies withinthe volcanic stratigraphy of the Abitibi Greenstone Belt (MNDM files M82050, M82049, M82031, M82032 and M82056).
The exploration programs to be conducted within the entire 204 claimblock in Michie, Sheba and Alma Township are expected to be eligibleunder the Federal Government of Canada flow-through share and criticalminerals exploration tax credit programs, subject to acceptance. Workpermitting programs will now be initiated on at least 6 geophysicalanomalies within the continuous 204 claim block for the 2023 - 2024exploration seasons. The work programs are subject to Companyfinancing.
Figure 1: Location map of Shebaproperty
Qualified Person
The technical information contained in this news release has beenreviewed and approved by Mr. Garry Clark, P.Geo., a “QualifiedPerson” as defined in National Instrument 43-101 – Standards ofDisclosure for Mineral Projects.
About RT Minerals Corp : RTM isa junior exploration company listed on the TSX Venture Exchange underthe symbol “RTM”. The Company holds a 100% interest, largelyroyalty-free, in a portfolio of rare earth element, gold and basemetal properties in Ontario. The Company also holds an option toacquire a 100% interest in the Link-Catharine RLDZ gold propertylocated 22 km south-southeast of the town of Kirkland Lake, Ontario.
Nordica Property (Cu, Ni, Co, Cr, Pd) is comprised of 34 claims in NordicaTownship that cover the ultramafic layered Nordica Intrusive Complexin the Abitibi Greenstone Belt, within the Superior Province, 60 kmsoutheast of Timmins, Ontario. Nordica is prospective for copper,nickel, cobalt, chromium, and palladium mineralization. Previousexploration activity on the Nordica property has encountered Cugrading up to 0.292% (rock-grab samples), Ni up to 0.24% in drill coreover 1.0 m, Co up to 614ppm (outcrop), Cr up to 17.7% (grab-rocksample) and Pd up to 1.2ppb (outcrop chip and drill core over1.0m)(MNDM files OFR 6102). The property covers approximately 75% ofthe ultramafic layered intrusion which is currently inferred to beapproximately 4.0 km long, 250 m wide and 100m deep (MNDM files20000008666/2000113735).
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 inK enogaming and Pharand Townships in the Northern SwayzeGreenstone Belt, located within the Abitibi sub-province of theSuperior Province, southwest of Timmins, Ontario. The Properties arelocated within the Hanrahan assemblage which is confined to thesoutheastern part of the Northern Swayze Greenstone Belt. Cumulateultramafic bodies are the specific targets comprising the Kenogaming,Pharand I and Pharand II prospects. In 1979, previous operators testeda strong magnetic anomaly with a 184.5m long diamond drill hole, whichintersected up to 0.25% nickel in carbonated and serpentinizedcumulate ultramafic with interbeds of chlorite and talc alterationover a 3.0m section at the bottom of the hole. Further drilling iswarranted on the Kenogaming, Pharand I and Pharand II prospects withthe objective to expand the historical Ni, Cr, Co mineralizationwithin the Kenogaming intrusive.
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 (Rare Earth Element) consists of 90 claims covering the CaseBatholith centered on Heighington Township, 85 km northeast ofCochrane, Ontario. The Case Batholith properties are 100% owned androyalty free. The properties occur within the boundaries of the CaseBatholith and are specifically located in Heighington, Kenning,Sequin, and Case Townships. Five properties are situated 12 km northof the Power Metals Case Lake lithium/cesium discovery in SteelTownship.
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). The properties are located tothe northwest of Power Metals Corp. Case Lake lithium/cesium discoveryin Steel township, Ontario. All the claim blocks have been acquiredbased on magnetic signatures resembling east - west trendingpegmatitic dykes and laccolith structures contained within thetonalite/granodiorite rock assemblages of the Case Batholith.
Sheba-Michie-Alma (Cu, Ni ,Co, Cr, Pt), Ontario, are as summarized above herein.
Kendrey Property (Rare EarthElement) consists of 32 claims in the Kendrey and Colquhoun Townshipslocated 14 km southeast of Smooth Rock Falls, Ontario that are 100%owned and royalty free. The property covers what appears to be alarge, inferred carbonatite complex that is prospective for rare earthelements, primarily niobium. The intrusive is approximately 2.8 kmwide and 2.7 km long. It is positioned along a southeasternextensional splay fault belonging to the Kapuskasing Structural 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 a royalty free 16-claim block locatedapproximately 50 km southeast of Timmins, Ontario, and is 100% ownedby RTM. The property features several mineralized fault systems thatsuggest proximity to a base metal source.
Link-Catharine RLDZProperty (Gold) is comprised of fifteenunpatented single cell mining claims with a total area of 220 hectaresin one claim block. The Link-Catharine property is located 22 kmsouth-southeast of the town of Kirkland Lake, Ontario. RTM has anoption to earn a 100% interest in this property subject to a 2% NSR.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 the volcanicstratigraphy hosting the Eastford Lake gold discovery of 142.2 g/t Auover 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 Boardof Directors
Douglas J. Andrews, MSc., BSc.
President and CEO
604-681-3170
For further information, please contact:
William Elston
Director and Investor Relations
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-LookingStatements: This news releasecontains certain forward-looking statements, which relate to futureevents or future performance and reflect management’s currentexpectations and assumptions. Such forward-looking statements reflectmanagement’s current beliefs and are based on assumptions made byand information currently available to the Company. Readers arecautioned that these forward-looking statements are neither promisesnor guarantees, and are subject to risks and uncertainties that maycause future results to differ materially from those expectedincluding, but not limited to, market conditions, availability offinancing, actual results of the Company’s exploration and otheractivities, environmental risks, future metal prices, operating risks,accidents, labor issues, delays in obtaining governmental approvalsand permits, and other risks in the mining industry. All theforward-looking statements made in this news release are qualified bythese cautionary statements and those in our continuous disclosurefilings available on SEDAR at www.sedar.com. These forward-looking statements are made as of thedate hereof and the Company does not assume any obligation to updateor revise them to reflect new events or circumstances save as requiredby applicable law.
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