{"id":7395,"date":"2017-10-26T08:16:29","date_gmt":"2017-10-26T12:16:29","guid":{"rendered":"https:\/\/wawa-news.com\/?p=7395"},"modified":"2017-10-25T18:20:39","modified_gmt":"2017-10-25T22:20:39","slug":"rt-minerals-corp-options-golden-reed-mine-property","status":"publish","type":"post","link":"https:\/\/wawa-news.com\/index.php\/2017\/10\/26\/rt-minerals-corp-options-golden-reed-mine-property\/","title":{"rendered":"RT Minerals Corp. Options Golden Reed Mine Property"},"content":{"rendered":"

Oct 26, 2017 @ 08:16<\/b><\/p>\n

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\"\"<\/a>RT Minerals Corp. announces that it has entered into an option agreement to acquire a 100% interest, subject to a 2% net smelter royalty, in the 4 claim unit Golden Reed Mine Property located in the McMurray Township approximately six kilometres southeast of Wawa, Ontario.<\/p>\n

RT Minerals Corp.’s landholdings in the Wawa area now include three properties: Norwalk, Dill River and Golden Reed, with a combined area of 1,120 hectares. Golden Reed consists of a single 4-unit mining claim staked within Red Pine Exploration Inc.’s (“Red Pine”) Wawa Gold Project. The Property is situated about 3,600 metres east-southeast of Red Pine’s Surluga Gold Deposit (1.088M oz at 1.71 g\/t gold (0.5 g\/t gold cut-off) 43-101 inferred resource (source: Red Pine Press Release, June 11, 2015)). Gold mineralization present on Red Pine’s adjacent Wawa Gold Project is not necessarily indicative of mineralization on the Company’s Golden Reed Mine Property.<\/p>\n

RT Minerals can earn 100% interest in the Property by paying initial consideration of $3,000 and issuing 1,000,000 common shares of the Company, due upon receipt of TSX Venture Exchange acceptance of the agreement (the “Acceptance Date”); and making an optional payment of 1,000,000 common shares of the Company on the first anniversary of the Acceptance Date. The Property is subject to a 2% net smelter royalty, of which 1% can be bought back at any time for $1,000,000.<\/p>\n

The historical Golden Reed Mine located on the Property operated from 1907 to 1908 and includes two shafts (14 metres and 7 metres) and an adit (7 metres) developed on gold-bearing quartz veins. A steam-powered mill erected on site produced six ounces of gold from three tons of rock according to historical accounts.<\/p>\n

In 1986, Caviar Resources Ltd. mapped a northwest trending gold-bearing quartz vein system for 244 metres in felsic intrusive rocks adjacent to a mafic to ultramafic intrusive complex. Eight historical trenches and pits were located in addition to historical workings of the historical Golden Reed Mine. The gold-bearing quartz vein explored reached 1.37 metres width, and returned three grab samples that averaged 0.22 ounces per ton gold (source: Ontario MNDM Assessment Files).<\/p>\n

The Company is actively exploring for gold in the Wawa area, and intends to relocate and sample historical workings on the Golden Reed Mine Property to confirm historical gold assays.<\/p>\n

Mr. Kevin Kivi, P.Geo. is the qualified person for the Wawa area holdings of RT Minerals Corp. and he has reviewed the technical contents of this release.<\/p>\n

This transaction is subject to the acceptance of the TSX Venture Exchange.<\/p>\n

ABOUT RT MINERALS CORP.<\/strong><\/p>\n

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:<\/p>\n

Ballard Lake Property<\/strong> \u2014 366 square kilometre (~141 square mile) diamond and gold property located approximately 50 kilometres northeast of Wawa, Ontario, in which the Company owns a 100% interest, subject to a 2% net smelter royalty;<\/p>\n

Norwalk Property<\/strong> \u2014 Gold property located approximately 6 kilometres south of Wawa, Ontario, in which the Company has an option to earn a 100% interest, subject to a 2% net smelter royalty. The property is contiguous to the southern border of Red Pine’s Wawa Gold Project;<\/p>\n

Dill River Property<\/strong> \u2014 Gold property located several kilometres southeast of Wawa, Ontario, in which the Company has an option to earn a 100% interest, subject to a 2% net smelter royalty. The property is contiguous to the eastern border of Red Pine’s Wawa Gold Project;<\/p>\n

Golden Reed Mine Property<\/strong> \u2014 Gold property located 6 kilometres southeast of Wawa, Ontario, in which the Company has an option to earn a 100% interest, subject to a 2% net smelter royalty. The property is staked within Red Pine’s Wawa Gold Project; and<\/p>\n

Dog Lake Property<\/strong> \u2014 Gold property located 59 kilometres northeast of Wawa, Ontario, in which the Company owns a 100% interest, subject to a 2% net smelter royalty.<\/p>\n

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Oct 26, 2017 @ 08:16 RT Minerals Corp. announces that it has entered into an option agreement to acquire a 100% interest, subject to a 2% net smelter royalty, in the 4 claim unit Golden Reed Mine Property located in the McMurray Township approximately six kilometres southeast of Wawa, Ontario. RT Minerals Corp.’s landholdings in …<\/p>\n","protected":false},"author":3,"featured_media":3236,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[926,447],"class_list":["post-7395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-golden-reed-mine-property","tag-rt-minerals-corp"],"publishpress_future_action":{"enabled":false,"date":"2026-04-22 01:59:31","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/7395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/comments?post=7395"}],"version-history":[{"count":1,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/7395\/revisions"}],"predecessor-version":[{"id":7397,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/posts\/7395\/revisions\/7397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/media\/3236"}],"wp:attachment":[{"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/media?parent=7395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/categories?post=7395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wawa-news.com\/index.php\/wp-json\/wp\/v2\/tags?post=7395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}