News Release
RT Minerals Confirms Extension of Surface Nickel, Cobalt, Chromite, Pt and Pd Mineralization in the Ultramafic Layered Intrusion on the Nordica Property, Ontario
RT Minerals Corp.
- and Terminates Option on Link Catherine RLDZ Gold Property, Ontario Vancouver, BC - TheNewswire - September 29, 2023 - RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “ Company ” or “ RTM ”) is pleased to announce results from the second group of surface samples from the Nordica property carried out in the summer of 2023. The Nordica property is located approximately 40kms west of Kirkland Lake and about 60kms southeast of Timmins, Ontario. Current assay results are from two samples from a second location of mineralized outcrop located about 5m from the first reported Cr, Ni, Co, Cu, Pt and Pd discovery outcrop announced August 3, 2023. These first and second sample locations are situated approximately 2.7 kms to the northwest of the historic discovery of similar mineralization on the property. The two most recent samples from this second outcrop discovery are samples 63463 and 63466. Massive to semi-massive layered mineralized outcrop was sampled and assayed. Sample 63463 (massive chromite) returned 566 ppm Ni, 12.03% Cr, 618 ppm Vanadium(V) and 0.15g/t Pd. Sample 63466 (semi-massive chromite) returned 679 ppm Ni, 6.47% Cr, 350 ppm V and 108 ppm Co. This second outcrop of mineralized ultramafic intrusive is additional evidence that ultramafic layered intrusive bedrock exists outside the immediate 400m by 400m area of the historic discovery outcrop, trenching and diamond drill holes ( Figure1) situated 2.7 kms to the southeast. This currently sampled section of exposed Cr, Ni, Co, Cu, V, Pt and Pd mineralized outcrop is at least 5.0m thick and appears to widen to the north. The outcrops are aligned with magnetics that strongly suggest that the entire Nordica Intrusion could extend to a total of 5 kms of strike length. In addition, the outcrops are evidence that the intrusion is located further westward within an area previously mapped as metavolcanics and as such significantly increases the inferred potential size of the Nordica Intrusive complex (Figure 2). The current inferred size of the Nordica intrusion (excluding magnetic signatures) is approximately 250 m wide (drill holes 98-01, 98-02 and outcrop), approximately 2.7 kms long ( drill hole 98-01 to the Sylvia Creek outcrop), and approximately 240 m deep (drill hole 98-01 and 98-02). The company has developed a plan of follow up exploration within this new high priority target area, including additional surface exploration to locate additional ultramafic assemblages followed by diamond drilling. Diamond drilling will be collared to intercept the additional ultramafic assemblages within the layered Nordica intrusive ( pyroxenite, peridotite and Gabbro) that carry Ni, Cu, Pt, Pd, Cr and Co mineralization. Drill permits are in place and further exploration on Nordica is subject to financing. Click Image To View Full Size Click Image To View Full Size FIGURE 2 Quality Controls, Sampling and Assaying Both of the 3 kg chip samples from outcrop detailed herein were assayed using Total Digestion ICP-OES and Fusion XRF. Assaying was managed and carried out by Activation Laboratories Ltd., Timmins, Ontario and Swaslabs Ltd., Kirkland Lake, Ontario, both are ISO/IEC 17025 accredited assay labs. The current assay results detailed herein are from RTM’s initial field sampling program. The assays contained herein may not be indicative of all rock types. Additional sampling is required to determine the significance and extent of these results. Option Terminated, Link Catherine RLDZ Gold Property, Ontario RTM has abandoned its option to earn 100% of the Link-Catherine RLDZ Gold Property (“LCGP”) located approximately 22 km south southeast of Kirkland Lake, Ontario. The Company had early exploration success on the LCGP throughout 2020 and early 2021, but was unable to demonstrate grade and continuity of mineralization in follow up drilling of the specific zones targeted by the Company in the 2021-22 field season and property assessment review. In addition, with the weakening of the senior and junior gold sector, the required continued contractual RTM work and property payments for LCGP, no longer meets RTM’s risk to reward ratio, or RTM’s view of the reasonable current fair market value for a property at this stage of exploration. Accordingly, the Company will write off Exploration and Evaluation Assets relating to the LCGP for the year ending November 30, 2023. RTM continues to hold 11 rare earth, critical mineral-base metal, and gold properties-projects, aggregating over 9,000 Ha of prospective exploration ground within a 150 km radius of Timmins, Ontario. All of these properties-project areas are staked claims (MLAS, Ontario), with 8 of the properties royalty free, and all of these claims are 100% owned by RTM. Qualified Person 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 Minerals 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, Canada. Nordica Property (Cu, Ni, Co, Cr, Pt, Pd) is 100% owned by RTM. It 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 3 1.0m)(MNDM files OFR 6102). There is a 2.5% NSR on all RTM Nordica claims. 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. 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 and 190 Claim Staking (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. The 190 newly staked claims adjoin Power Metals and Beyond Lithium land holdings located in the southeastern portion of the Case Batholith. 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), Ontario. Substantially 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), (“Sheba”) consists of 194 mineral claims 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. 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. 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. 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 and for further information contact: Mr. William Elston, Director RT Minerals Corp. ; Telephone: (604) 725-0604 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. Forward-Looking Statements: 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, 5 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.
September 29, 2023 02:54 PM Eastern Daylight Time
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