VANCOUVER, March 19 /CNW/ - RT Minerals Corp. (CNSX: "RTM") announces that the first phase of drilling at its Golden Property located in the West Timmins, Ontario, region has been completed. A total of 11 drill holes were completed consisting of 4,438 m of drilling.
No significant mineralization was encountered in the first 11 drill holes completed to date.
Geophysics will now be carried out on the northern quarter of the property covering an area of about 4km of strike length and 1km wide.
Drilling is scheduled to resume upon the completion of the above deep penetrating IP geophysical program. This program is expected to take approximately 45 days to complete and will include interpretation of the data produced by the geophysical program for the purpose of preparing a phase two drill program on the Golden property.
The Golden property is about 5km by 4km in size. Approximately 25% of the property has been covered by deep IP geophysics on the central and south central portions of the property. Parts of this area were tested by the above 11 drill holes.
Drill core from the 11 holes intersected similar geology and visual sulphides as seen at the Thunder Creek property of Lake Shore Gold Corp. and within the Tisdale Group stratigraphy of the main Timmins camp.
RT Minerals has an option to acquire 100% of the Golden property and Lake Shore Gold Corp. (TSX: LSG) has the right to earn 50% on the Golden Property from RTM by incurring $5,000,000 in exploration and development on the property over a 5 year period. LSG also owns approximately 26% of RTM common shares and upon exercise of its warrants may acquire up to 40% of RTM.
Assaying for the current drill program was completed by AGAT of Sudbury, Ontario.
The Qualified person for the Golden Property is Mr. Robert Laakso, P.Eng., and he has reviewed the contents of this news release.
SOURCE RT MINERALS CORP.
For further information: For further information: Jonathan Samuda, Tel: (604) 681-3170, Website: www.rtmcorp.com