Feb 15, 2018 @ 08:57
RT Minerals Corp. announces that it has entered into a purchase and sale agreement to acquire 100% interest in the South Wawa gold property from Argo Gold Inc. for consideration of 350,000 common shares of the Company.
The South Wawa gold property consists of two mineral claims totalling 16 units or 256 hectares located approximately 10 kilometres south of the Town of Wawa, Ontario in Naveau Township. The Property is bordered to the north by Red Pine Exploration Inc.
Argo completed an MMI orientation survey, channel sampling, prospecting, mapping and grab sampling on the Property during the 2017 field season. The results of the channel sampling confirmed historic results. Prospecting delineated mineralized zones around an area termed the Camouflage vein. The highest gold grades obtained from prospecting samples are 11.6 g/t Au and 10.1 g/t Au (Argo Gold Press Release October 24, 2017 and Assessment Report dated December 22, 2017 prepared for Argo by Ronacher McKenzie Geoscience).
This transaction is subject to the acceptance of the TSX Venture Exchange.
The Company has allocated 750,000 stock options to consultants of the Company that are exercisable at $0.05 per share until two years from the date of grant.
The Company has also canceled 390,000 consultant stock options with an exercise price of $0.10 per share and 1,420,000 consultant stock options with an exercise price of $0.11 per share and granted/repriced 920,000 stock options to consultants of the Company that are exercisable at $0.05 per share until two years from the date of grant.
The stock options are subject to acceptance of the TSX Venture Exchange.
ABOUT RT MINERALS CORP.
RT Minerals Corp. is a junior resource company engaged in the acquisition, exploration and evaluation of primarily gold and diamond properties in Canada. The Company’s principal mineral properties include the 100% optioned Norwalk and Dill River gold properties that are respectively contiguous to the southern and eastern borders of Red Pine Exploration Inc.’s Wawa Gold Project near Wawa, Ontario; the 100% owned Golden Reed Mine gold property that is staked within Red Pine’s Wawa Gold Project; the 100% owned Ballard Lake diamond and gold property located ~50 km ENE of Wawa, Ontario; and the 100% owned Dog Lake gold property located ~59 km NE of Wawa, Ontario.