RT Minerals Corp. Files NI 43-101 Technical Report on Norwalk Gold Property, Wawa, Ontario and Announces Surface Geophysics Program
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2017) - RT Minerals Corp. (TSXV: RTM) (the "Company") announces that the Company has filed a NI 43-101 Technical Report on SEDAR for the 100% optioned Norwalk Gold Property (the "Property") located near Wawa, Ontario.
Several historical mineralized gold occurrences are present on the Norwalk Property including the Norwalk Gold Mine (Au), the Fred C Shaft (Au), the Gananoque Vein (Au), and the Barton Occurrence (Au, Fe).
Historical production occurred at the Norwalk Gold Mine in 1904 and 1910, where 60 ounces of gold was recovered from 820 tons milled (Fergusen, Groens, and Haynes 1971). There are no mineral resources or mineral reserves within the Norwalk Property boundaries.
RT Minerals Corp.'s Norwalk property is adjacent and contiguous to the southern border of Red Pine Exploration Inc.'s ("Red Pine") Surluga Property which hosts the "Surluga Deposit" with a 43-101 inferred resource of 1,088,000 ounces of gold at 1.71 g/t grams per tonne using a 0.50 g/t gold cut-off grade, contained in 19.82 million tonnes open along strike and at depth.
Recent drilling conducted by Red Pine 3,000 metres south of the Surluga Deposit and 1,500 metres north of RT Minerals Corp.'s Norwalk Property, includes significant gold mineralization in at least 5 drill holes, which have yielded up to 57 g/t Au over 3.1 metres. Gold mineralization on Red Pine's Surluga Property does not indicate similar mineralization is present on RTM's Norwalk Property.
A 5 kilometre corridor of past producing gold mines, gold bearing structures and gold occurrences align south from Wawa Lake, through Red Pine's Surluga Property and includes some 1,800 metres of RT Minerals Corp.'s Norwalk Property where several historical gold occurrences are known.
Gold mineralization is spatially associated with the major shear zones on the Norwalk Property. Gold is present in quartz veins, lenses and pods within shear and breccia zones of various rock types. Recrystallized quartz and minor amounts of sulfide minerals (pyrite, arsenopyrite, chalcopyrite) are present in gold zones, along with strong silicification of adjacent host rocks.
The Norwalk property is only 3.2 kilometres by road from Trans-Canada Highway 17, and is located about 7 kilometres south of the Town of Wawa, which has skilled labour to support mineral exploration and mining. Wawa also has a Municipal Airport.
Exploration will target auriferous Greenstone-Hosted Quartz-Carbonate Vein Deposits. Line cutting and ground geophysics has commenced which will determine if historical gold mineralization is related to geophysical trends which may expand exploration potential to other parts of the Norwalk Property.
This surface exploration program will be followed by a diamond drilling program of about 1,000 metres to test current gold showings, high interest geophysical anomalies, and prospecting targets. A total budget of CDN $240,000 is recommended to carry out the entire Phase One program.
Mr. Kevin Kivi, P.Geo. is a qualified person and approves the technical content of this press release.
ABOUT RT MINERALS CORP.
RT Minerals Corp. is a junior resource company engaged in the acquisition, exploration and evaluation of primarily gold and diamond properties in Canada. The Company's common shares are listed on the TSX Venture Exchange under the symbol "RTM" (OTC Pink Sheets "RTMFF"). The Company's principal mineral properties in Canada include the 100% owned Ballard Lake gold and diamond property; the 100% optioned Norwalk gold property; and the 100% optioned Dill River gold property, all located near Wawa, Ontario.
For more information on the Company and its properties, please visit the Company's website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Paul Antoniazzi
President and Chief Executive Officer
RT Minerals Corp.
Telephone: 604-681-3170
Fax: 604-681-3552
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
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.
