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Vancouver, B.C. – TheNewswire – November 14, 2022 – RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “Company” or “RTM”) is pleased to announce that it has acquired by map staking (MLAS) 52 claims consisting of approximately 421 hectares covering an inferred carbonatite complex (the “Ireland Complex”) located in Ireland Township, 45 km northeast of Smooth Rock Falls, Ontario.
Highlights
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The Ireland Complex is 100% owned and royalty-free.
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The Ireland Complex is positioned along a southern extensional splay fault contained within the Kapuskasing Structural Trend, which contains several well documented carbonatite complexes that contain niobium, iron, titanium and rare earth element resources within various assemblages of carbonatite rocks.
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Observations from existing magnetic signatures over the Ireland Complex resemble that of the magnetic signature which is coincident with the REE Niobec Mine in Quebec
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The project qualifies for the Ontario Government Critical Minerals Directive issued in 2022 to find sources of strategic minerals in conjunction with the Ontario Junior Exploration Program for 2022.
Douglas Andrews, the Company’s President and CEO, states: “We are pleased to add a Rare Earth Element prospect to our portfolio of properties. With the assistance of government initiatives such as the Ontario government’s Critical Minerals Directive and the federal government’s new Critical Mineral Exploration Tax Credit, we hope to position the Company to capitalize on the growing global demand for minerals that are crucial to technologies such as electric vehicle batteries, smartphones and laptops.”
The Ireland Complex is approximately 4.0 km long, 2.8 km wide, is 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 (“REE”) resources within various assemblages of carbonatite rocks (Figure 1).
Figure 1 – Location map of Ireland Complex
Observations from existing magnetic signatures over the Ireland Complex resemble that of the magnetic signature which is coincident with the REE Niobec Mine (“Niobec”) in Quebec1, which is owned and operated by Magris Performance Materials Inc. At Niobec, the central and inner core magnetic low signature contains the niobium and REE mineralization (Figure 2). Magnetic data covering the Ireland Complex suggests the potential development of an outer circular high magnetic, magnetite rich pyroxenite ring. This ring transitions into an inner ring of a calcite-sovite carbonatite to a central low magnetic signature inner core of dolomitic rauhaugite carbonatite. It is this area and location that represents an exploration target for Rare Earth Elements (REE) (Figure 2).
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Figure 2 – Illustration of magnetic signatures of Niobec Mine in Quebec1 (top) and Ireland Complex (bottom).
There is no known drilling on the Ireland Complex to date. There have been past limited geochemical exploration programs conducted over the Ireland Complex which have indicated elevated concentrations of the REE consisting of cerium (Ce), gadolinium (Gd), lanthanum (La), neodymium (Nd), praseodymium (Pr), samarium (Sm), and titanium (Ti) (MNDM-Assessment file technical report 20000004588). These specific REE and titanium suggest an association with, or the occurrence of, a carbonatite intrusive prospective for containing REE mineralization.
The entire Ireland Complex is covered by thick glacial overburden. Future initial drilling pending financing will start with the main focus on confirming the carbonatite complex. Drilling will include the testing of the outer high magnetic ring for titanium, copper and iron, and testing the inner core (low magnetic signature) for REE mineralization.
RT Minerals owns a 100% interest in the Ireland Complex and no royalties encumber the project. The project qualifies for the Ontario Government Critical Minerals Directive issued in 2022 to find sources of strategic minerals in conjunction with the Ontario Junior Exploration Program for 2022.
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 Mineral Projects.
1The Ireland Complex and carbonatite target owned by the Company is an exploration target with no resources or reserves and is not known to host like-mineralization as is present at Niobec. The figures herein of the magnetic highs and lows of Niobec, and RTM’s Ireland property, are general and interpretive comparative magnetic signatures only and do not represent the presence of REE mineralization on RTM’s Ireland property.
2Gold mineralization on Explor Resources’ Eastford Lake property does not indicate similar mineralization is present on the Company’s Milligan property referenced below.
All references herein to past or historic drilling, core analysis and assay results, has been carried out by previous owners or operators. The past drill core intercepts and assay results are not known to be true widths at this time.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol “RTM” and has 60,044,654 common shares issued and outstanding. The Company holds an option to acquire a 100% interest in the Link-Catharine RLDZ gold property comprised of 15 unpatented single cell mining claims with a total area of 220 hectares in one claim block. The Link-Catharine property is located 22 km south-southeast of the town of Kirkland Lake, Ontario. The Company also owns a 100% royalty-free interest in four drill-ready gold properties in Ontario: the Milligan, Blakelock, McQuibban and Timmins properties.
The Milligan gold property is a 16-claim block (129 Ha) located approximately 75 km northeast of Timmins, Ontario, that 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 20092.
The Blakelock gold property is a 9-claim block (73 Ha) located approximately 75 km northeast of Cochrane, Ontario that is host to a massive east-west trending magnetic high intrusive complex that was subject to limited drilling in 1967.
The McQuibban gold property is a 19-claim block (153 Ha) located approximately 50 km north of Cochrane, Ontario that 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 (MNDM Assessment File 20000003818, 2007).
The Timmins base metal property is a 16-claim block (129 Ha) located approximately 50 km southeast of Timmins, Ontario that features several mineralized fault systems that suggest close proximity to a base metal source.
For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.
FOR FURTHER INFORMATION CONTACT:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
Telephone: 403-200-6542
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
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.
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