RT Minerals Corp.
TSX VENTURE : RTM

RT Minerals Corp.

September 18, 2014 20:09 ET

RT Minerals Corp. Announces Demerara and Tiger River Gold Properties Field Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 18, 2014) - RT Minerals Corp. ("RTM" / the "Company") (TSX VENTURE:RTM) announces that it has completed the initial exploration of the Demerara River gold property and Tiger River gold property in Guyana, South America. As a result of this work, the Company has filed a NI 43-101 report on SEDAR pertaining to the Demerara River property, and a NI 43-101 report on the Tiger River property will be filed in the near future. The reports were completed by Shaft and Tunnel Engineering Ltd. of Holland Landing, Ontario. A summary of the reports is as follows.

DEMERARA RIVER PROPERTY, GUYANA

The Property is located in Guyana, South America, approximately 190 kilometers south southwest of Georgetown, the capital of Guyana. The Property consists of 49 Land Claims including 12 river claims and 37 bank claims in one contiguous block having a total area of approximately 445 hectares covering a section of the Demerara River and land along each side of the river. The Demerara property falls under the designation of a small scale mining lease.

Sampling from the current program determined that gold was consistently present in varying amounts. Further sampling is required to determine alluvial mining viability of the property.

It is recommended that the exploration program continue using drills on 30 meter spacings. The values should be plotted such that it may be possible to locate the paleo channel(s). Upon finding traces of higher grades, the spacing should be decreased.

A preliminary alluvial sampling program was completed in late July 2014 to ascertain if gold was present in the surficial alluvial material within two areas along the Demerara River. The assay results from the preliminary near surface sampling indicated that traces of gold are consistent and in some cases higher values up to 2.2 g/t Au were confirmed.

Test pits were dug in overburden using an excavator at Area B and Area D. The two areas tested represent a small fraction of the Property. The overburden sampled was sand or gravel and if bedrock was reached a sample of bedrock was taken.

Twenty samples were collected from 11 test pits that encountered sand and/or gravel. The samples are considered representative of the material sampled. Results ranged from 0.003 g/t to 2.2 g/t Au.

The sampling resulted in confirmation that gold is consistently present. The values vary but additional sampling could identify zones of higher grades that may be related to paleo channels. Sampling and assaying of the property needs to be done systematically in order to locate higher grade gold bearing paleo channel(s). It is estimated that this phase of proposed work will cost approximately $70,000 USD and consist primarily of shallow core (or banka) drilling on what is referred to site A on the property where visible gold was observed during excavations but where systematic sampling could not be carried out at the time due to river flooding and river sand incursion.

RTM holds the property under an exploration option to November 30, 2014 whereupon RTM can elect to proceed with further development of the property, or to alluvial production by paying the vendor $20,000 USD per month.

TIGER RIVER, GUYANA

The Property is located in Guyana, South America, approximately 195 kilometers south-southwest of Georgetown, the capital of Guyana. The Property consists of one Mining Permit -Medium Scale Operations having an area of 1,117 acres (452 hectares).

In August 2014, a sampling program was conducted by RTM to ascertain if gold was present in the surficial alluvial material. The assay results from the preliminary sampling indicates that traces of gold are consistent and in some cases higher values up to 10.3 g/t Au were confirmed.

One hundred and sixty three samples were collected from 80 sample sites. Samples were taken from excavator test pits, alluvial tailings and surface channels. The sampling was preliminary and was carried out to establish if gold was present in tailings and overburden along a section of the Tiger River in concentrations that would warrant a more comprehensive program of sampling and testing. Samples were usually taken from surface to depths of up to 3 meters; individual sample lengths were generally from 0.5 to 1.0 meters. From 1 to 4 samples were taken from each sample site. The samples are considered representative of the material being sampled. Results ranged from 0.01 g/t to 10.3 g/t Au.

It is recommended to initiate a drill program to define the paleo channels and then to dig pits with excavators, sample the material and drill this area. This work can be carried out by a $36,000 USD Phase I program consisting of reconnaissance, mapping, grab sampling of saprolite, trenching and primarily of core (or banka) drilling.

RTM holds the property under an exploration option to November 30, 2014 whereupon RTM can elect to proceed with further development of the property, or to alluvial production by paying the vendor $10,000 USD per year and 15% gross royalty of any minerals produced from the property.

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.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Paul Antoniazzi
    President and Chief Executive Officer
    Tel: (604) 681-3170
    Fax: (604) 681-3552
    Website: www.rtmcorp.com