RT Minerals Corp.
CNSX : RTM

RT Minerals Corp.

March 07, 2011 15:27 ET

RT Minerals Commences Drilling at the Bazooka Gold Property, Quebec, and Updates West Timmins Deep Drilling Next to Lake Shore Gold Corp. Timmins Mine Property, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2011) - RT Minerals Corp. (CNSX:RTM) ("RTM" / the "Company") is pleased to announce the commencement of the first phase of a diamond drill program which will consist of at least 2000 meters of drilling on RTM's 100% owned Bazooka Property, Quebec.

The property lies 7 km south of Rouyn-Noranda, Quebec in Beauchastel Twp. The Cadillac-Larder Break strikes across the Bazooka property which is also adjacent to and on strike from the Augmitto, Cinderella and Astoria gold deposits controlled by Yourbeau Resources Inc. (listed on the TSX Venture exchange). The main focus of drilling will be in the east central part of the property in close proximity to a major flexure of the Cadillac deformation zone and near past development on mineralization from underground by previous operators.

Between 2003-2005 Lake Shore Gold Corp. (listed on the TSX exchange) conducted 10,804 meters of drilling on the Bazooka property yielding numerous significant intersections including 2.0m of 11.7 g/t, 1.0m of 316.2 g/t, 2.3m of 10.8 g/t, 3.0m of 5.0 g/t and 1.3m of 94.1 g/t Au. This drilling increased the known strike length of the zone from 250m to 560m and the zone remains open to the west and to depth on the RTM property.

The mineralization at the Bazooka Property is greenstone-hosted quartz-carbonate vein lode mineralization. The Main Zone at Bazooka hosts gold bearing quartz-carbonate veins in a carbonate-talc chlorite schist unit along the Cadillac-Larder Lake Fault ("CLLF"). The CLLF is characterized by a 2 to 3m wide, strong graphitic fault at the base widening up to 60m of talc-chlorite and quartz-carbonate-sericite altered schist. The best gold mineralization occurs within the 20 to 60m wide alteration/deformation zones and are confined to a 2 to 10m wide, strongly silicified-carbonatized rock with grey or brownish quartz veins. The entire zone is commonly anomalous in gold over a 52m width. Mineralization occurs in both sedimentary and ultramafic units. Gold mineralization is associated with arsenopyrite, chalcopyrite, pyrite and visible gold.

RTM also owns 100% of the McWatters gold property located about 10km east of Bazooka and adjacent to holdings of Yourbeau Resources Inc., Gold Bullion Development Corporation Inc. (listed on the TSX Venture exchange) and ThreeGold Resources Inc. (listed on the TSX Venture exchange). RTM plans to conduct prospecting, mapping, reconnaissance and surface geophysics on McWatters to be followed by a drill program later in 2011. (See map 1 attached - http://media3.marketwire.com/docs/rtmap1.pdf).

MEUNIER JV OPTION DEEP DRILLING, WEST TIMMINS, ONTARIO

The current initial deep drill hole on the Meunier JV property is ongoing and when completed is estimated to provide a deep cut on the projected target area at an approximate vertical depth of 2400m. This will enable a series of shallower wedge cuts to obtain further details on shape and extent of major geological structures as well as potential mineralization. The initial deep hole was collared on LSG's Timmins Mine property in August 2010 and is now about 1980m in core length.

This hole is targeting potential zones down plunge and on strike to mineralization at LSG's 100% owned Timmins Mine gold deposit where LSG has recently announced intercepts of up to 13.55 g/t Au over 50.80m and 61.35 g/t Au over 15m (LSG - August 10, 2010 News Release) and where LSG has announced further drilling results relating to their Thunder Creek project, Rusk Zone, of up to 75.14 g/t Au over 18.60m (LSG - March 4, 2011 News Release).

The Timmins Mine deposit straddles a volcanic/sedimentary/ultramafic contact zone, within a folded sequence that plunges about 54 degrees to the west-northwest towards the RTM - Adventure Gold Inc. (listed on the TSX Venture exchange) Meunier JV Property in which RTM may earn up to a 25% interest and LSG may earn a 25% interest. LSG may also earn a further 7.5% in the Meunier JV Property by carrying out an Economic Assessment Study on the property within the next 10 years. 

LSG's Timmins Mine ore body has demonstrated vertical persistence as it can be traced down-plunge for a distance of approximately 1500m from surface, and remains open at depth. Newly emerging and significant fold structures and complexities are now becoming apparent on the deepest sections of the Timmins Mine from LSG drilling. Overall, the gross geometry of the structure has remained consistent from surface to a 1300m vertical depth and it is apparent that this geometry and structure continues to depth toward and potentially onto the Meunier JV Property. (See map 2 attached - http://media3.marketwire.com/docs/rtmap2.pdf).

AUBURN PARTNERS INC.

Finally, RTM has engaged Auburn Partners Inc. ("Auburn") to act as a communication, investor and business relations consultant to the Company. The Company has agreed to pay Auburn Partners a fee of $5,000 per month for a period of at least 3 months.

QUALITY CONTROL

Mr. Robert Laakso, P.Eng., is the Independent Qualified Person who has prepared or supervised the preparation of the information that forms the basis for the scientific and technical disclosure in this news release.

Forward-Looking Statements

Certain statements in this press release relating to the Company's exploration activities, potential for increasing resources, project expenditures and business plans 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 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 will not be less than identified mineral reserves. 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 or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Lake Shore Gold's most recent Annual Information Form and other regulatory filings which are posted on SEDAR at www.sedar.com. There is no guarantee that drill results reported in this news release will lead to the identification of a deposit that can be mined economically, and further work is required to identify resources and reserves. The maps attached hereto are location summary maps and as a result of electronic reproduction may not be exactly to scale. The Meunier JV map, Timmins, Ontario, outlines projected or conceptual zones potentially extending from known gold zones on LSG properties. These potential extensions of LSG zones onto the Meunier JV ground has yet to be tested by current drilling, and their existence on the AGE-RTM-LSG JV property has not yet been confirmed. We seek safe harbour.

Contact Information

  • RT Minerals Corp.
    Donald (Dan) M. Clark
    (604) 681-3170
    (604) 681-3552 (FAX)
    www.rtmcorp.com