Rio Tinto Begins Drill Testing Potential Mafic-Ultramafic Targets Located on RPT's Dorion Block-Thunder Bay District
January 27 2010 - 8:00AM
Marketwired
RPT Resources Ltd. (TSX VENTURE: RPT) ("RPT") announces that
reconnaissance prospecting and traversing recently completed by Rio
Tinto Exploration Canada Inc. ("RTEC") (formerly Kennecott Canada
Exploration Inc.) on RPT's Dorion Block identified magnetic
features that may represent mafic-ultramafic intrusions. A drill
rig and geologists have mobilized onto the property and drill
testing has begun.
On August 9, 2009, RPT signed a joint venture proposal with
RTEC, whereby RTEC acquired the right to earn-in up to an 80%
interest in RPT's 100%-owned Dorion Block by incurring a total of
$10.2 million in expenditures and issuing staged payments totaling
$350,000 on or before December 31, 2016.
Marshall R. Bertram, CFO and Director
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts, that
address future production, reserve potential, exploration and
development activities and events or developments that the
Corporation expects, are forward-looking statements. Although
management believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance, and
actual results or developments may differ materially from those in
the forward-looking statements. Factors that could cause actual
results to differ materially from those in forward-looking
statements include market prices, exploration and development
successes, continued availability of capital and financing, and
general economic, market or business conditions. Please see our
public filings at www.sedar.com for further information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: RPT Resources Ltd. Marshall Bertram (604) 639-4455
marshallb@rpturanium.ca www.rptresources.com