/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE
SUBIACO, Western Australia, Nov. 10, 2014 /CNW/ - The Board of RTG Mining Inc. ("RTG", "the Company") (TSX Code: RTG, ASX Code: RTG) is pleased to announce that diamond drilling has commenced on EP-033-XIII at the Bunawan Project in the Philippines.
An initial program of 3,300m of diamond drilling has been planned on the EP which covers an area of 677 hectares in the Rosario area in Agusan del Sur, Mindanao (see Figure 1).
Drilling has started with 1 diamond drill rig, with a second rig scheduled to start in the following week. The drill program has been designed to target areas where previous site investigation programs, including detailed mapping, rock chip sampling, a ground magnetic survey and stream sediment sampling have identified several highly prospective areas and walk up drill targets including Mahunoc, Imbudo and Baleleng (see Figure 2).
The area contains 3 styles of mineralization –
- low sulphidation stockwork (Masbate style);
- high sulphidation veins (Co-O style); and
- breccia Pipes (Porphyry leads).
The results of this initial reconnaissance drilling will be used to develop a detailed exploration program going forward based on the style of mineralization intersected.
QUALIFIED PERSON AND COMPETENT PERSON STATEMENT
The information in this report relating to exploration results, mineral resources or ore reserves is based on information provided to Mr Robert McLean by RTG Mining Inc. Mr McLean is a self-employed, independent, consultant geologist and is a corporate member of the Australian Institute of Mining and Metallurgy. Mr McLean has the relevant qualifications, experience, competence and independence to qualify as an "Expert" under the definitions provided in the Valmin Code, "Competent Person" as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and as a "Qualified Person" under National Instruments 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr McLean consents to the inclusion in the report of the matters based on the information he has been provided and the context in which it appears.
The information presented in Figure 1 and Figure 2 of this announcement was reported to the ASX and TSX on 20 August 2014. The Company is not aware of any new information or data that materially affects the information included in the announcement lodged when first reporting the ground magnetic survey and stream sediment sampling results.
ABOUT RTG MINING INC
RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited. RTG is focused on developing the high grade copper/gold/magnetite Mabilo Project and advancing exploration on the highly prospective Bunawan Project, both in the Philippines, while also identifying major new projects which will allow the company to move quickly and safely to production.
RTG has an experienced management team (previously responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited), and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. Accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG's expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG's mineral projects; the need to obtain additional financing to develop RTG's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG's mineral projects and other risks and uncertainties disclosed under the heading "Risk Factors" in RTG's Annual Information Form for the year ended 31 December 2013 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com.
Image with caption: "Figure 1 - Location Plan with Regional Geology Showing Both the Co-O and Mahunoc Diatreme Complexes (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20141110_C2168_PHOTO_EN_7762.jpg
Image with caption: "Figure 2 - Gold ppb in Soil Data with Proposed Drilling Program (CNW Group/RTG Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20141110_C2168_PHOTO_EN_7763.jpg
SOURCE: RTG Mining Inc.
For further information: Australian Contact: President & CEO - Justine Magee, Tel: +61 8 6489 2900, Fax: +61 8 6489 2920, Email: [email protected]