RT Minerals Corp.

RT Minerals Corp.

November 10, 2011 12:11 ET

RT Minerals Corp. Announces Deep Drill Hole at Meunier JV Property, West Timmins, Ontario, Intersects Favourable Timmins Mine Fold Structure and Updates the Bazooka and McWatters Gold Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - RT Minerals Corp. ("RTM" / the "Company") (TSX VENTURE:RTM) is pleased to announce that the Deep Hole (M-10-05b) has intersected Ultramafic and Footwall style gold mineralization 2,380 metres below surface and has confirmed the geologic model of the favourable Timmins Mine fold nose structure. Within this zone is a second broad interval of alteration, deformation and quartz veining, estimated to be 37 metres wide. This has been identified from recently received drill core which is currently being logged and sampled.

The Deep Hole is currently at 3,061 metre in core length and continues to test for Timmins Mine and Thunder Creek mineralization at depth.

RT Minerals Corp joint venture partner and operator, Lake Shore Gold Corp. (TSX:LSG) and (NYSE Amex:LSG) ("Lake Shore Gold" / "LSG") today announced results from the Deep Hole (M-10-05b, which was designed to test the down plunge extension of the Timmins Mine and Thunder Creek ore bodies at vertical depths below 2,000 metres.

The Deep Hole targeted the Timmins Mine Fold Nose (TMFN), a folded mineralized structure which hosts the Ultramafic and Footwall zones and accounts for the bulk of existing resources above the 1,200 metre level on LSG ground. The Ultramafic Zone, the highest grade area of the Timmins deposit, typically occurs as a series of lenses hosted by pyroxenite situated in the core of the TMFN, while the Footwall Zone occurs within volcanic rocks, immediately north of the pyroxenite. The Deep Hole successfully intersected the pyroxenite, accompanied by typical Ultramafic and Footwall style mineralization, including carbonate alteration, quartz tourmaline veining, pyrite and elevated gold values at the 2,380 metre level (2,925 metres down hole), approximately 1.9 kilometre down plunge from the bottom of the current LSG reserve assuming the same 53 degree plunge observed near surface. Given that the Ultramafic Zone at the Timmins Mine starts at about the 525 metre level, and assuming the same plunge, the intersection at 2,380 metres represents a potential quadrupling of the plunge length of the Ultramafic Zone. The best assay value obtained to date is 1.98 grams per tonne gold over 1.10 metres from a zone located at a down hole depth of 2,925 metres to the north and below the nose of the TMFN structure.

Tony Makuch, President and CEO of Lake Shore Gold, commented: "We are extremely encouraged by the results of the Deep Hole. It is an incredible accomplishment by our exploration team that, through their analysis and calculations, they were able to model the extension of the Ultramafic structure almost two kilometres away and intersected the structure with the first hole. That is one hell of a stretch! Based on our interpretations, the results very clearly validate our exploration model, potentially quadruple the plunge length of the Ultramafic Zone and demonstrate an amazing down plunge continuity of the Timmins Mine gold system, which is a classic characteristic of the historic, long-life Timmins gold producers. We believe the same is true of Thunder Creek and will work towards showing this through continued drilling.

We came in on the north limb of the TMFN and now plan to drill multiple wedge cuts into the nose of the fold structure, where the potential to intersect high-grade mineralization is considered greatest. Based on the results, we are very confident that, through additional work, we will be able to add significant new extensions to the mineralization at the Timmins West Complex. We are excited about the prospects for additional favourable results as we continue drilling the Deep Hole to further test both the Timmins Mine and Thunder Creek mineralization, complete the planned wedge cuts into the nose of the TMFN and undertake infill drilling between the new drill results and the bottom of our current reserve on the 1,200 Level at Timmins Mine."

The Deep Hole drill program targets an area on property owned by a joint venture involving Lake Shore Gold, RT Minerals Corp. and Adventure Gold Inc. ("AGE"). All design and management of drilling for the program is being conducted by Lake Shore Gold. RTM and LSG may each initially earn up to 25% of the Meunier JV property with AGE retaining an initial 50% interest.

Based on current interpretations, the Deep Hole intersects the north limb of the TMFN structure slightly north of the boundary between the LSG – RTM – AGE Meunier JV property and 100% owned Lake Shore Gold property. The hole crosses the boundary onto the LSG – RTM - AGE JV property at 2,985 metres down hole with drilling continuing. The limb is identified on the basis of a prominent contact between pyroxenite and mafic volcanic rocks, which occurs at approximately 2,862 metres down hole. At present, the hole is still in progress and remains in pyroxenite at the current bottom which is 3,061 metres. Based on LSG's projections, the nose of the TMFN structure may lie slightly to the south and near the 2,100 metre elevation on the current section line.

Observations from drill core also indicate moderate to strong alteration and between 2,828 metres and 2,928 metres (i.e. approximately 100 metres wide) with several narrow syenite dikes, local quartz veinlets with tourmaline and sections containing between 1-8% pyrite. Results from this interval indicates anomalous gold values and a best assay value of 1.98 grams per tonne gold over 1.10 metres, from a down hole depth of 2,925 metres.

A second broad zone of alteration and deformation has been identified from recently received core, which also contains quartz veining, with tourmaline and locally elevated pyrite. This core is now being logged and sampled. This lower zone occurs between 3,024 and 3,061 metres (i.e., approximately 37 metres wide) and is still open to depth.

Current plans are to extend the current Deep Hole to a minimum down hole depth of 3,400 metres to allow a better overall understanding of both the Timmins Mine and Thunder Creek depth extensions. Following this, the plan is to complete a series of wedge cuts to better define the overall geometry of the structure at this elevation, as well as plan for new drilling up and down plunge to start defining new resources.

Quality Control

The Qualified Person ("QP") for the Meunier Deep Hole drill program is Jacques Samson, P.Geo. who as QP has prepared or supervised the preparation of the scientific or technical information for the Meunier JV property and verified the data disclosed in this press release.

Lake Shore Gold, as operator, has implemented a quality-control program to ensure best practice in the sampling and analysis of the drill core. Assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than 10 grams per tonne gold, samples are re-run with a gravimetric finish. Zones with visible gold are tested by pulp metallic analysis. NQ size drill core is saw cut and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags for preparation at ALS Chemex Prep Lab located in Timmins, Ontario, and the pulps shipped to ALS Chemex Assay Laboratory in Vancouver, B.C. ALS Chemex is an ISO 9001-2000 registered laboratory preparing for ISO 17025 certification.

There is no guarantee that drill results reported in this news release will lead to the identification of resources that can be mined economically, and further work is required to identify resources and reserves.


RT Minerals Corp. ("RTM" / the "Company") announces the following drill hole results from its 100% owned Bazooka gold property south of Noranda, Quebec.

Assay Results Received For RT Minerals 2011 Drilling — Bazooka Property

Hole No. Section Zone From (m) To (m) Interval (m) Au g/t
BRT-11-13A 2000E Bazooka Main 132.10 137.69 5.59 0.86
including 132.10 135.00 2.90 1.47
including 133.10 134.03 0.93 3.50
220.43 242.00 21.57 0.23
including 235.51 240.00 4.49 0.44
297.00 298.00 1.00 1.44
302.70 303.35 0.65 1.82
397.00 398.00 1.00 1.61
BRT-11-14 2225E Bazooka Main 29.72 30.70 0.98 0.78
156.00 178.00 22.00 1.01
including 160.00 161.00 1.00 1.92
And 167.00 171.73 4.73 2.64
including 170.74 171.73 0.99 6.88
including 171.40 171.73 0.33 17.49
Also 175.60 176.89 1.29 4.11
including 176.36 176.89 0.53 7.65

The intervals reported in the table above represent core lengths. The true width can be approximated as approximately 85% of core lengths based on the dip of the rock formations and mineralized corridor but could be somewhat different because of structural complexity (folding and shearing) in the Cadillac-Larder Lake Deformation Zone.

As part of the current work program at Bazooka a preliminary 3‐D model of the Bazooka mineralization using past and current diamond drill data was completed to increase the understanding of the property geology in support of a second phase of diamond drilling.

Further drilling of 9 holes is now proposed at Bazooka. Six of the nine holes will be drilled as phase one and three relatively shallow holes may be completed at the end of Phase one as contingency holes under the new drill campaign.

The nine holes are designed to extend the mineralization to depth below current significant intercepts, add information to untested areas within the interpreted Main Zone, test the potential easterly plunge of the Main Zone, and explore deformed and altered rocks near the Cadillac Larder Lake Break at a deeper level below the ‐200m elevation.

All of the 9 holes are targeting the interpreted Main Zone which generally hosts the best gold values and widths, and has the best continuity both along strike and down dip. The total drill program is scheduled to consist of 3450 meters in drilling. This drilling is expected to commence next week.


The 100% owned McWatters gold property is located approximately 9km east of the Bazooka property. The Company has completed line cutting, a magnetometer survey, soil sampling and trenching. Further trenching will commence on surface targets in mid-November. Drilling at McWatters is scheduled for early 2012. Complete details of the proposed drill program will be announced at that time.


Assaying for the Bazooka property was carried out by Laboratoire Expert of Noranda, Quebec.

RT Minerals Corp. Qualified person for the Bazooka property and the McWatters property is Robert Laakso, P.Eng. and he has reviewed and supervised the preparation of the scientific or technical information disclosed in this press 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. 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. We seek safe harbor.

Contact Information

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