JonnyRBuck12
4 years ago
RT Minerals arranges $1.01-million private placement
2020-08-11 15:42 MT - News Release
Mr. Donald Clark reports
RT MINERALS CORP. ANNOUNCES PRIVATE PLACEMENTS WITH LEAD ORDER FROM PALISADES GOLDCORP
RT Minerals Corp. proposes to undertake private placements to raise gross proceeds of up to $1,015,000. The company proposes to raise up to $700,000 through the sale of up to 14,000,000 non flow-through units priced at $0.05 (the "NFT Units") and up to $315,000 through the sale of up to 4,500,000 flow-through units priced at $0.07 (the "FT Units"). Each NFT Unit consists of one common share and one share purchase warrant (the "Warrant") exercisable into one further common share at a price of $0.07 for a term of three years. Each FT Unit consists of one flow-through common share and one half of one share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.08 for a term of three years.
The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the "Existing Shareholder Exemption") and similar provisions in other jurisdictions' securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions' securities legislation.
The Company has set August 10, 2020 as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below. If the Offering is oversubscribed, units will be allocated pro rata amongst all subscribers.
The proceeds from the sale of the flow-through portion of the Offering will be used for exploration activity on the Company's 100% owned Norwalk gold property located near Wawa, Ontario, where drilling is expected to commence in September 2020 subject to completion of the Offering. The proceeds from the sale of the non flow-through portion of the Offering will be used for additional exploration work, project acquisitions, payment of debt and trade payables and for general working capital.
Finders' fees may be payable in connection with the Offering of 8% cash and 8% in warrants at $0.08 per warrant and in accordance with the policies and subject to the approval of the TSX Venture Exchange ("TSXV").
The Offering is subject to the approval of the TSXV.
About Palisades Goldcorp
Palisades Goldcorp is Canada's new resource focused merchant bank. Palisades' management team has a demonstrated track record of making money and is backed by many of the Industry's most notable financiers. With junior resource companies equities valued at generational lows, management believes the sector is on the cusp of a major bull market. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
JonnyRBuck12
4 years ago
RT Minerals files NI 43-101 report for Norwalk
2020-07-15 13:05 MT - News Release
Mr. Donald Clark reports
RT MINERALS CORP. FILES UPDATED NI 43-101 TECHNICAL REPORT ON NORWALK GOLD PROPERTY, WAWA, ONTARIO
RT Minerals Corp. has filed an updated National Instrument 43-101 technical report on SEDAR of its 100-per-cent-owned Norwalk gold property located near Wawa, Ont., and contiguous to the southern property boundary of the Alamos Gold Inc. and Red Pine Explorations Inc. strategic alliance on the Surluga property.
Mr. Garry Clark, P.Geo., of Clark Exploration Consulting of Thunder Bay, Ontario was contracted by RT Minerals to review historic data for the Property, identify its merits, propose an appropriate exploration program and budget for gold exploration on the Property, as well as complete a NI 43-101 report.
The Property is comprised of 12 single cell claims and 21 boundary cell claims, covering an area of 460 hectares and is subject to a 2% net smelter returns royalty retained by the original property vendors.
Gold discoveries were made within the Property boundaries starting around 1904. Subsequent work in the early 1900's included shaft sinking and limited underground development at Norwalk Gold Mine and Fred C Shaft, tunnelling at Gananoque Vein and driving adits at the Barton Occurrence. Limited gold production occurred from the Norwalk Gold Mine in 1904 and 1910 totalling 60 ounces of gold from 820 tons milled. A few small scale exploration programs including diamond drilling, geophysics, bedrock sampling, till sampling and geological mapping were completed in the period from 1962 to 1997.
The Property is located in the southern part of the Wawa Greenstone Belt. Gold, silver, zinc, copper and iron mineralization are the common associated metallic occurrences found in the belt. On the Property the predominant rocks are Keewatin Volcanics and Algoman Intrusives.
Fracturing and faulting play a most important role in the area. The known gold bearing veins are spatially and structurally related to these features. The two main directions of weakness strike N20-45W and N45-70E. The gold bearing quartz veins trend nearly parallel to the major lines of weakness and are located in close proximity to these structures.
The historical reports document several old shafts, adits and trenches within the Property boundary including the four main gold bearing mineralized zones. At the former Norwalk Gold Mine, gold occurs within pyrite and arsenopyrite mineralized quartz, that lies in sheared granodiorite, and mineralized schist composed of sericite, pyrite and arsenopyrite. At the Fred C Shaft gold is associated with numerous massive pyrite-pyrrhotite fracture fillings within intermediate metavolcanics. Gold also occurs in-feldspar porphyry. At the Gananoque Vein gold occurs in quartz veins with approximately 2% disseminated pyrite, within strongly carbonatized intermediate volcanic rocks. At the Barton Occurrence gold occurs in quartz veins mineralized with pyrite, chalcopyrite and pyrrhotite, along two parallel bands of iron formation approximately six feet (~2 metres) wide and four feet (~1.3 metres) wide with green schist in between. A dike of biotite picrite (kimberlite?) was also observed at the site.
The magnetics and induced polarization carried out by past and current operators have reinforced the geological mineralized trends. Numerous historic showings are coincident to the geophysics and the sampling and stripping verified gold mineralization and led to the discovery of the gold bearing 2 metre to 5 metre wide quartz complex of the Red Carbonate Zone ("RCZ") in 2017. The sampling completed to date shows that there is low and high grade gold mineralization with a gold nugget effect in the over mineralized system. Gold mineralization is hosted by narrow high grade sections with visible gold as well as low grade mineralization in quartz and in the schist of the footwall and hanging wall of the overall gold bearing section.
The extensive gold showings throughout the Property and the 2018 discovery of the RCZ indicates the potential of economic gold mineralization and warrants further exploration. The known gold nugget effect in the gold bearing host rocks will need to be properly assessed and sampled. In addition, the structurally controlled gold mineralization and genesis needs further examination.
A $610,000 exploration budget is recommended for the Norwalk Property. The integrated program will be comprised of data compilation, modelling, trenching, channel sampling, detailed mapping, assaying and diamond drilling.
The large database needs to be compiled further and the final drill collar locations for diamond drilling on the Red Carbonate Zone should be now initiated by the RT Minerals Corp. Qualified Person. To enhance the extensive data base further stripping and channel sampling should provide additional data on the gold distribution and association. Detailed mapping of newly stripped areas and previously stripped areas is also recommended.
An initial 1,000 metre (phase I) and up to 2,000 metre (phase II) diamond drill programs (10 to 20 holes) may be carried out now to fill in gaps of the Red Carbonate Zone's prospective 600 metre strike length between the 2017-18 drilling and the historical Gananoque gold showing. The drill core samples from this initial 2020 drilling will provide samples to assist in defining geology, gold mineralization and define the extent of the gold mineralization within this 600 metre long target area of the Red Carbonate Zone. This drilling is follow up to the discovery from RT Minerals Corp. drilling from 2017-18 which intersected the RCZ zone. The results of this drilling were previously announced by the Company on March 2, 2018.
Finally, in the event that the drilling recommended on the RCZ does not yield positive or economic gold results then the Company should then focus on the remaining +60 potential geophysical drill targets on the eastern half of the Norwalk property identified in 2017. Most of these targets and anomalies can be tested by drilling holes of 100 metres in core length or less.
Gold mineralization on Red Pine's adjacent Surluga property is not an indication of same being present on the Norwalk property. The gold zones known to exist on RT Minerals Corp. Norwalk property are separate and distinct from those situated on the Surluga property to the north.
Mr. Garry Clark, P.Geo., is an Independent Qualified Person under National Instrument 43-101 and he has prepared and completed the NI 43-101 report for the Norwalk gold property at the request of the Company. Mr. Garry Clark, P.Geo., has reviewed and approves the technical content of this press release.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
JonnyRBuck12
4 years ago
The signs are clear, Donald Clark purchased 3 million shares in December for $90k, then he also lent RTM $22.5K to finish the Norwalk property acquisition in March. That shows he's eager to see this project move forward. So my guess is they'll either push the price and exercise all the warrants, or find a JV partner, maybe a bit of both.
From the MD&A
On March 30, 2020, the Company received a loan of $22,500 from a director that bears interest at 10% per annum, is payable on demand after April 30, 2020 and may be secured by a lien placed against the RT MINERALS CORP. INTERIM MD&A – QUARTERLY HIGHLIGHTS FOR THE THREE MONTHS ENDED FEBRUARY 29, 2020 PAGE 7 Company’s Norwalk property in the event of default. The loan was used to make the final property option payment to acquire a 100% interest in the Norwalk property
JonnyRBuck12
4 years ago
This is a new gold exploration company that is literally bordering an already successful gold company (RPX.V - Red Pine Exploration). The big difference is that RPX has 28 times the market cap and is still just an exploration company with no 43-101, yet they've had tremendous success in drilling.
The CEO recently purchased $100,000 worth of stock, giving him the largest position in the company at 19.88%. Then shortly after, RT Minerals acquired the Norwalk property which already shows positive indications that gold mineralization is also on RTM's property. Options were recently issued which could mean that there is a plan in place to push the price up and exercise all these options to fund a summer drill program.
Below is prior news releases and information the company:
Symbol - RTM.V (Canada) & RTMFF (USA)
Common Shares - 17 million
Price - $0.07
Property information: http://www.rtmcorp.com/projects/Norwalk/index.php
RT Minerals 4,501,000-share private placement
2019-12-31 17:21 MT - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 8, 2019. This private placement has been accepted pursuant to the notice to issuers dated April 7, 2014.
Number of shares: 4,501,000 shares
Purchase price: three cents per share
Warrants: 2,250,500 share purchase warrants to purchase 2,250,500 shares
Warrant exercise price: five cents for a one-year period
Number of placees: five placees
Insider: Donald Clark, 2,907,300
RT Minerals closes Norwalk property acquisition
2020-04-02 19:40 MT - News Release
Mr. Donald Clark reports
RT MINERALS CORP. COMPLETES ACQUISITION OF 100% INTEREST IN NORWALK GOLD PROPERTY, WAWA, ONTARIO
RT Minerals Corp. has completed the acquisition of a 100-per-cent interest, subject to a 2-per-cent net smelter return royalty, in the Norwalk gold property, located approximately six kilometres south of Wawa, Ont. The option was exercised with a final property option payment of $22,500 made on March 31, 2020, as outlined in the company's news releases dated Oct. 3, 2019, and Oct. 8, 2019.
The Norwalk property is contiguous to the south boundary of the Wawa gold project, held by Red Pine Exploration Inc. The property is composed of three unpatented mineral claims consisting of 29 units with a total area of 445 hectares. Several mineralized zones occur on the property, including the Norwalk gold mine (Au), the Fred C shaft (Au), the Gananoque vein (Au), the Barton occurrence (Au and iron) and the Red Quartz carbonate zone (RQCZ) discovered by 2017 and 2018 drilling by the company. The results of this RQCZ drilling are summarized in the company's March 2, 2018, news release. There are no mineral resources or mineral reserves within the property boundaries.
RT Minerals grants options to buy 800,000 shares
2020-07-03 14:53 MT - News Release
Mr. Donald Clark reports
RT MINERALS CORP. GRANTS STOCK OPTIONS
RT Minerals Corp. has granted 800,000 incentive stock options to directors and consultants of the company that are exercisable at six cents per common share over a two-year term, in accordance with the company's stock option plan. The stock options are subject to the acceptance of the TSX Venture Exchange.
We seek Safe Harbor.
Level up your trading with our powerful tools and real-time insights all in one place.
Ask ADVFN Intelligence (AI)
Renee
6 months ago
Crawfors
4 years ago
WeihsJD
6 years ago
Hot Features
Premium
