RT Minerals Corp. Files NI 43-101 Technical Report for Ballard Lake Diamond and Gold Property, Ontario
Vancouver, May 23, 2017 - RT Minerals Corp. (TSXV: RTM) (OTC: RTMFF) (the "Company") announces that the Company has filed a NI 43-101 Technical Report on SEDAR for the Ballard Lake diamond and gold property (the "Property"), which is 100% owned and subject to a 2% retained royalty. The Ballard Lake property is located approximately 50 kilometres northeast of Wawa, Ontario, Canada, within the Michipicoten Greenstone Belt, Sault Ste. Marie Mining Division. The Property covers 366 square kilometres (36,592 hectares; ~141 square miles) of ground that is prospective for diamonds and gold. Most diamond mines and exploration prospects in Canada are remote, but the Ballard Lake property is located along Provincial Highway 651 and the CNR railway, and is widely accessible by regional logging roads.
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 gold and diamonds. The Ballard Lake property covers the Ballard Lake Shear Zone ("BLSZ"), a deep crustal and possibly mantle tapping structure that is adjacent to a 12 kilometre (~7.5 mile) long granodiorite/volcanic contact with ample room for significant mineralization. Alkalic ultramafic intrusions present in the BLSZ may have followed this structure from depth to surface, and the BLSZ may have also served as a conduit for hydrothermal fluids carrying gold.
The Company's Ballard Lake property covers two diamond-bearing kimberlite dikes: GC1 (16 diamonds from 93.1 kg) and Fletch (6 diamonds from 51.48 kg) which were discovered by previous explorers on surface. Historical diamond results were reported by Chalice Diamond Corp. ("Chalice") in February 2008. The Company's Qualified Person had direct involvement in sampling and diamond recovery of the GC-1 occurrence following its discovery in 2001 led by Mike Tremblay (vendor of the Ballard Lake property and 2013 Ontario Prospector of the Year).
Chalice also completed an extensive regional exploration program in the Ballard Lake area that included regional kimberlite indicator mineral sampling, prospecting, modern airborne geophysical surveys, and ground geophysical surveys, trenching, mapping, prospecting and sampling. This work is documented in assessment files in public domain, and from this some 34 potential kimberlite bedrock and float occurrences are known. There is no record of core drilling for kimberlite on the Property.
Diamond exploration by previous exploration companies and government have recovered kimberlite indicator minerals from till, with anomalies that plot amongst unexplained Keating Magnetic Correlation Coefficient geophysical (or "Keating") anomalies identified by the Geological Survey of Canada on regional magnetic surveys. A Keating anomaly models the magnetic response of a vertical, pipe-like body, which is a common response of a kimberlite pipe. Unexplained Keating anomalies near known diamond-bearing kimberlitic dikes are excellent diamond exploration targets that require drill testing.
The Company has compiled historical diamond exploration, and has an exploration permit that will be amended to cover the entire 366 square kilometre (~141 square mile) property. The diamond potential of the Ballard Lake property has generated interest in the Property from a number of diamond exploration and mining companies.
The Company may in the near future seek to secure a joint venture partner in order to explore the Ballard Lake property for diamonds on a larger scale. The Company expects to commence exploration this summer.
NORWALK PROPERTY, WAWA, ONTARIO, GOLD
Surface geophysics and ground reconnaissance is underway on the Company's Norwalk gold property near Wawa, Ontario, and drilling is expected to commence in the next 30 days (see news release dated May 8, 2017).
Kevin Kivi, P.Geo. has extensive experience exploring 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.
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 diamond and gold 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.
