RT Minerals Corp. (TSX.V: RTM), (OTC: RTMFF), Announces High Grade Gold Assays from Norwalk Property and Drill Plan for Ballard Land Property
Vancouver, B.C. – November 22, 2016 ‐ RT Minerals Corp. (TSX.V: RTM) (the “Company”) reports on surface grab sampling at the Company’s 100% optioned Norwalk property and further drilling plans at the Company’s 100% owned Ballard Lake Property, both near Wawa, Ontario.
NORWALK PROPERTY, ONTARIO, ASSAY RESULTS
The Norwalk property is contiguous to the south boundary of the Wawa Gold Project, held by Red Pines Inc. Initial reconnaissance prospecting and surface sampling of historical mine dumps resulted submission of nine samples to Swastika Laboratories Ltd. for Gold fire assay. Total metallic fire assay was completed on over-limit samples 42756 and 42757. Gold assays are from the Norwalk vein and Gananoque Adit vein.
42751 0.96 n/a Quartz, 3-10% Pyrite and Arsenopyrite
42752 5.92 n/a Quartz, 3-10% Pyrite and Arsenopyrite
42753 7.30 n/a Quartz, 3-10% Pyrite and Arsenopyrite
42754 6.19 n/a Quartz, 3-10% Pyrite and Arsenopyrite
42755 0.57 n/a Quartz, 3-10% Pyrite and Arsenopyrite
Gananoque Adit Vein
42756 70.00 63.80 Quartz Vein, 10% Pyrite
42757 18.14 17.35 Quartz in Rhyolite, 7-10% Pyrite
42758 1.84 n/a Strongly Carbonate Altered Metavolcanic Rock with 1-3% Pyrite
42759 0.23 n/a Strongly Carbonate Altered Metavolcanic Rock with 1-3% Pyrite
A drill program of five holes, up to 200 metres each is recommended on historical gold showings at Norwalk. A drill permit application was filed in the last 45 days and drilling will commence upon receipt of the drill permit and consultation with local First Nation communities.
BALLARD LAKE GOLD – DIAMOND PROPERTY DRILL PLAN
As outlined in the Company’s news release dated November 10, 2016, the Company has established potential for deep crustal or mantle tapping conduits on the Ballard Lake property, which is indicated by alkali ultramafic dikes and kimberlites on the property. The Company staked many exploration targets in the immediate area, and has increased the area of the Ballard Lake Property to 160 square kilometres (~15,970 hectares).
RT Minerals Corp.’s Ballard Lake property includes two historical diamond-bearing kimberlite occurrences: GC1 (16 diamonds from 93.1 kg), and Fletch (6 diamonds from 51.48 kg). Diamond results were reported by Chalice Diamond Corp. in February 2008.
RT Minerals Corp. has commenced regional compilation and will apply for an exploration permit on the new claims with objective to drill test known diamond bearing kimberlites and other potential kimberlite targets. It is anticipated that the permit will be secured in 60 days.
The Ballard Lake property lies in the Wawa supracrustal belt of the Superior Craton, which is currently being explored by major and junior exploration companies for both gold and diamonds.
Kevin Kivi, P.Geo., has extensive experience in the exploration for gold and diamonds in Canada. He is the Qualified Person for the Company’s Norwalk and Ballard Lake properties and approves the technical content of this press release.
FOR FURTHER INFORMATION CONTACT:
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.
Certain statements in this press release relating to the Company’s exploration activities, project expenditures and business plans are approximate and are “forward-looking statements” within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward looking statements represent management’s best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as adverse market conditions, mechanical failure, unavailability of parts, labor disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties may not achieve any category of resource(s). The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold, equity markets or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. There is no guarantee that drill results reported in this news release or future releases will lead to the identification of a deposit that can be mined economically, and further work is required to identify resources and reserves. We seek safe harbour.