Vancouver, British Columbia--(Newsfile Corp. - April 6, 2021) - RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the "Company" or "RTM") is pleased to announce that drilling at RTM's Link-Catharine Gold Property is now underway, with the first drill core having been pulled during the course of the Easter long-weekend.
The first phase of drill-bit exploration for 2021 consists of a proposed seven hole drill program. The first drillhole, CA-21-01 (see details below), is now at 225m and testing an anomaly outlined by a 3D Distributed Array IP geophysical survey completed for the Company in January 2021 (the "Link-Catharine 3D IP Survey"). The Link-Catharine 3D IP Survey was conducted by Canadian Exploration Services Ltd., and is available for interested parties to view by visiting:
Update on Drillhole CA-21-01
CA-21-01 has intersected intermittent quartz veining ranging between several centimeters and up to 1m wide with 3% to 5% sulphides throughout the interval from approximately 123m to 136m. This 13m interval is within green carbonates and a porphyritic dyke. In addition, a second 45m interval between 180m to 225m has intersected like sulphides with numerous narrow quartz stringers within a green carbonate host unit. Due to the favourable host unit and the presence of quartz with 3% to 5% sulphides over this 45m interval, Hole CA-21-01 is continuing to drill to depth. The above sections of drill core stratigraphically aligns with the geophysical IP target (Target "A") delineated by the Link-Catharine 3D IP Survey.
The current drill program is designed, in part, to follow-up on a significant gold discovery of three separate sub-parallel / en-echelon gold sections encountered and disclosed by RTM during the Company's drill program in the fourth quarter of 2020 (see news release dated December 1, 2020). The Q4 2020 drilling encountered intermittent gold mineralization within an area approximately 130m west to east, 100m north to south and to a depth of 140m. Importantly, the potential for further mineralization is open in all directions. The current drill program and/or follow-on phases may also test additional targets on the Link-Catharine Gold Project, as delineated by RTM subsequent to the fourth quarter.
Figure One: On-Site Rig - - Drillhole CA-21-01
To view an enhanced version of Figure One, please visit:
Highlights of the Q4 2020 drill program consisted of near-surface gold intercepts of up to 8m of 9.43 g/t Au (CA 20-01), 1.0 m of 3.07 g/t Au (CA 20-02), 0.49 m of 7.43 g/t Au (CA 20-03), 0.05m of 6.56 g/t Au (CA 20-04), 6.9m of 2.25 g/t Au (CA 20-05). The above noted higher-grade intervals were contained within areas of intermittent gold mineralization over 35m to 54m intervals.
None of the above Q4 2020 drill program holes tested the anomalies subsequently identified during the January 2021 geophysical program, and drillhole CA-21-01 is now testing one such newly-identified IP anomaly. The drill core observed today in the 13m section and the 45m section of current hole CA-21-01 is similar to the green carbonate host unit with quartz veining and sulphides observed in CA-20-01 drilled in Q4 2020.
For complete drillhole tables and intercepts to date from the Link-Catharine Gold Property, see the Company's December 1, 2020 press release. True width of the gold mineralization from the 2020 drilling has not been determined at this time.
The Link-Catharine Gold Property is located approximately 25 km southeast of Kirkland Lake, Ontario, within an infrastructure-rich area. The project is the subject of an earn-in option agreement, as announced by the Company on September 29, 2020, under which RTM may earn up to 100% interest, subject to a 2% NSR.
Mr. Garry Clark, P.Geo., is the Qualified Person for RTM and he has reviewed and approved the technical content of this press release.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol "RTM". The Company currently has 43,122,988 shares outstanding. RTM holds 100% interest in the Norwalk gold property located near Wawa, Ontario. The Company also holds an option to acquire 100% interest in the Link-Catharine RLDZ gold property with a total area of 544 acres, and subject to shareholder and regulatory approval, RTM will acquire control of a 100% interest in a further 24,536 acres of mineral properties (subject to a 2% GSR) that adjoin the RTM Link-Catharine property. Consideration to be paid for these properties will be the issuance of 21,000,000 Tier 2 (TSX.V) Surplus Escrow Shares (subject to a 36 month escrow release format) under the proposed acquisition of Catharine Gold Inc., as announced by the Company by news release dated March 24, 2021.
For more information on the Company and its properties, please visit RTM's website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Donald (Dan) M. Clark
Chairman, President and Chief Executive Officer
RT Minerals Corp.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79490