LINK-CATHARINE PROPERTY
Project Description
The Link-Catharine RLDZ gold property is comprised of 15 unpatented single cell mining claims (220 hectares) in one claim block. The property is located 22 km south-southeast of the town of Kirkland Lake, Ontario. RTM has the option to earn a 100% interest in the property subject to a 2% NSR retained by the vendor.
Gold mineralization occurs on the Property in zones of quartz veined iron and green fuchsitic carbonate altered rocks associated with the north-south Pacaud Fault and Deformation Zone. The Pacaud Fault and Deformation Zone are approximately 400 metres wide and run North-South for 2.5 kilometres on the Property. The Property has an exploration permit which includes core drilling from at least 20 drill site locations. There are no mineral resources or mineral reserves within the Property boundaries.
Exploration programs carried out on the Property since 1970 include line cutting, geophysical surveys, overburden stripping, geological mapping, channel sampling and diamond drilling. A total of forty seven diamond drill holes (totaling 6,956 metres) have been drilled on the Property by previous operators.
Historical diamond drilling conducted by previous operators intersected gold mineralization with grades up to 7.07 g/t Au over 4.0 metres (Sudbury Contact Mines drilling 1993-94), 2.65 g/t Au over 33.62 metres (T. Link drilling 1999-2005), and 8.96 g/t Au over 2.0 metres (Golden Dawn Minerals drilling 2008-09) demonstrating significant gold mineralization within a favourable geologic setting related to the limited area where drilling has been completed on the Property.
Geological data is summarized from the Nass Valley Gateway Ltd. NI 43-101 report by Stewart Jackson (2011) filed on Sedar (Sept. 30, 2011).
Strongly altered rocks favourable for gold exist on the Property in an approximately 400 metre wide by 2.5 kilometre long N-S trending deformation zone along the Pacaud Fault. Much of the deformation zone is covered by overburden and has not been drilled. The area that has been drilled has only been tested to shallow depths of less than 150m from surface. Further work is warranted, including overburden stripping, diamond drilling, sampling and assaying.
The Company may earn a 100% interest in the Property by paying an aggregate of $200,000 cash, issuing 1,950,000 common shares and incurring $1,000,000 in work expenditures over a five year period as follows: (i) $15,000 cash and 250,000 common shares due upon receipt of TSX Venture Exchange (“TSXV”) acceptance of the Agreement (the “Acceptance Date”) and incurring $100,000 in exploration expenditures within four months of the Acceptance Date; thereafter, optional commitments of (ii) $20,000 cash and 250,000 common shares on or before the first anniversary of the Acceptance Date; (iii) $25,000 cash, 250,000 common shares and $100,000 in exploration expenditures on or before the second anniversary of the Acceptance Date; (iv) $25,000 cash, 250,000 common shares and $200,000 in exploration expenditures on or before the third anniversary of the Acceptance Date; (v) $30,000 cash, 250,000 common shares and $200,000 in exploration expenditures on or before the fourth anniversary of the Acceptance Date; and (vi) a final optional payment of $85,000 cash, 700,000 common shares and $400,000 in exploration expenditures on or before the fifth anniversary of the Acceptance Date. The Agreement is subject to the acceptance of the TSXV.
QUALIFIED PERSON
The technical information contained in the above text 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.
