RT MINERALS CORP. STAKES ADDITIONAL CLAIMS TO EXPAND BOUNDARY OF 100% OWNED SHEBA PROPERTY, ONTARIO
Vancouver, B.C. – July 7, 2023 – RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the “Company” or “RTM”) announces that it has staked an additional 150 mineral claims totalling approximately 2,650 hectares within the northwest-southeast trending Michie, Sheba and Alma Township corridor in the Abitibi Greenstone belt, located within the Superior Province, 70 km southeast of Timmins Ontario (Figure 1). The additional claims surround the initial 54 Sheba North, Sheba South and Sheba East claim blocks recently acquired by the 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 Pd mineralization (MNDM files 42A02SE2019). Previous limited surface sampling activities have encountered 0.19% Cu, 0.14% Ni and 0.34% Cr immediately west of the Sheba South block in ultramafic pyroxenite-peridotite assemblages. Whole rock analysis of these units is substantially identical to the peridotites and associated Ni mineralization that occurs in Langmuir Township, 36 km on trend to the northwest.
The pyroxenites-peridotites exhibit strong magnetic signatures and the entire claim block covers extensive geophysical magnetic anomalies that are currently interpreted as peridotite intrusive bodies within the volcanic stratigraphy of the Abitibi Greenstone Belt (MNDM files M 82050, M82049, M82031, M82032 and M82056).
The exploration programs to be conducted within the entire 204 claim block in Michie, Sheba and Alma Township are expected to be eligible under the Federal Government of Canada flow-through share and critical minerals exploration tax credit programs, subject to acceptance. Work permitting programs will now be initiated on at least 6 geophysical anomalies within the continuous 204 claim block for the 2023 – 2024 exploration seasons. The work programs are subject to Company financing.
Figure 1: Location map of Sheba property
The technical information contained in this news release 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.
About RT Minerals Corp: RTM is a junior exploration company listed on the TSX Venture 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. The Company also holds an option to acquire a 100% interest in the Link-Catharine RLDZ gold property located 22 km south-southeast of the town of Kirkland Lake, Ontario.
Nordica Property (Cu, Ni, Co, Cr, Pd) is comprised of 34 claims in Nordica Township that cover the ultramafic layered 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, and palladium mineralization. Previous exploration activity on the Nordica property 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), Cr up to 17.7% (grab-rock sample) and Pd up to 1.2ppb (outcrop chip and drill core over 1.0m)(MNDM files OFR 6102). The property covers approximately 75% of the ultramafic layered intrusion which is currently inferred to be approximately 4.0 km long, 250 m wide and 100m deep (MNDM files 20000008666/2000113735).
Kenogaming, Pharand I and Pharand II Properties (Ni, Cr, Co) consists of 38 claim blocks that are 100% owned with 32 claims royalty free and 6 claims subject to a 2% NSR royalty. The properties are situated in Kenogaming and Pharand Townships in the Northern Swayze Greenstone Belt, located within the Abitibi sub-province of the Superior Province, southwest of Timmins, Ontario. The Properties are located within the Hanrahan assemblage which is confined to the southeastern part of the Northern Swayze Greenstone Belt. Cumulate ultramafic bodies are the specific targets comprising the Kenogaming, Pharand I and Pharand II prospects. In 1979, previous operators tested a strong magnetic anomaly with a 184.5m long diamond drill hole, which intersected up to 0.25% nickel in carbonated and serpentinized cumulate ultramafic with interbeds of chlorite and talc alteration over a 3.0m section at the bottom of the hole. Further drilling is warranted on the Kenogaming, Pharand I and Pharand II prospects with the objective to expand the historical Ni, Cr, Co mineralization within the Kenogaming intrusive.
Ireland Property (Rare Earth Element) is a royalty free 52 claim block covering 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 approximately 4.0 km long, 2.8 km wide, oval shaped and is positioned along a southern extensional splay fault contained within the Kapuskasing Structural Trend. The Kapuskasing Structural Trend contains several well documented carbonatite complexes that contain Niobium, Iron, Titanium and Rare Earth Element resources within various assemblages of carbonatite rocks.
Case Batholith Group 1 (Rare Earth Element) consists of 90 claims covering the Case Batholith centered on Heighington Township, 85 km northeast of Cochrane, Ontario. The Case Batholith properties are 100% owned and royalty free. The properties occur within the boundaries of the Case Batholith and are specifically located in Heighington, Kenning, Sequin, and Case Townships. Five properties are situated 12 km north of the Power Metals Case Lake lithium/cesium discovery in Steel Township.
Case Batholith Group 2 (Rare Earth Element) consists of four properties (113 claim blocks) that are 100% owned and certain of the claims are subject to a 2% NSR royalty, within the boundaries of the Case Batholith in northern Ontario. The four properties are in Agassiz township (29 claims), Potter township (51 claims), Seguin/Challies township (14 claims) and Bragg township (19 claims). The properties are located to the northwest of Power Metals Corp. Case Lake lithium/cesium discovery in Steel township, Ontario. All the claim blocks have been acquired based on magnetic signatures resembling east – west trending pegmatitic dykes and laccolith structures contained within the tonalite/granodiorite rock assemblages of the Case Batholith.
Sheba-Michie-Alma (Cu, Ni , Co, Cr, Pt), Ontario, are as summarized above herein.
Kendrey Property (Rare Earth Element) consists of 32 claims in the Kendrey and Colquhoun Townships located 14 km southeast of Smooth Rock Falls, Ontario that are 100% owned and royalty free. The property covers what appears to be a large, inferred carbonatite complex that is prospective for rare earth elements, primarily niobium. The intrusive is approximately 2.8 km wide and 2.7 km long. It is positioned along a southeastern extensional splay fault belonging to the Kapuskasing Structural Trend.
Galna / Moody Property (Cu, Ni, Co, Cr) consists of four separate claim blocks totalling 24 cells in the Galna and Moody Townships, located 35 km east of Iroquois Falls, Ontario. The Company acquired 100% interest in the property by map staking.
Timmins Property (Base Metals) is a royalty free 16-claim block located approximately 50 km southeast of Timmins, Ontario, and is 100% owned by RTM. The property features several mineralized fault systems that suggest proximity to a base metal source.
Link-Catharine RLDZ Property (Gold) is comprised of fifteen unpatented single cell mining claims with a total area of 220 hectares in one claim block. The Link-Catharine property is located 22 km south-southeast of the town of Kirkland Lake, Ontario. RTM has an option to earn a 100% interest in this property subject to a 2% NSR. Milligan Property (Gold) is a royalty free 16-claim block located approximately 75 km northeast of Timmins, Ontario, and is 100% owned by RTM.
Milligan Property (Gold) covers the southeast extension of the volcanic stratigraphy hosting the Eastford Lake gold discovery of 142.2 g/t Au over 3.0 m announced by Explor Resources in 2009.
Blakelock Property (Gold) is a royalty free 9-claim block located approximately 75 km northeast of Cochrane, Ontario, and is 100% owned by RTM. The property is host to a massive east-west trending magnetic high intrusive complex that was subject to limited drilling in 1967.
Mcquibban Property (Gold) is a royalty free 19-claim block located approximately 50 km north of Cochrane, Ontario, and is 100% owned by RTM. The property hosts a strong 3.0 km long east-west trending inferred oxide facies banded iron formation, in which one historical drill hole encountered a gold mineralized interval of 5.47 g/t Au over 1.2m.
For more information, please visit the company’s website at www.rtmcorp.com.
On behalf of the Board of Directors
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
For further information, please contact:
Director and Investor Relations
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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.