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RT Minerals Corp.
Summary
| Project: | Ballard Lake | |
|---|---|---|
| Deposit: | Ballard Lake | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-5-2017: RT Minerals Corp. announces a Supporting Acquisition report for its Ballard Lake deposit at the Ballard Lake project. Summary of property in support of acquisition. Clark Exploration Consulting of Thunder Bay, Ontario was contracted by RT Miner | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Desmond Cullen, J. Garry Clark (Clark Exploration Consulting Inc.) | |
| ABSTRACT: | Clark Exploration Consulting of Thunder Bay, Ontario was contracted by RT Minerals Corp. (“RTM”), to review historic data for the Ballard Lake Property (the “Property”), identify its merits, propose an appropriate exploration program and budget for exploration on the Property, and prepare a Technical Report (the “Report”) compliant with NI 43-101 and suitable for the purposes of a financing document for RTM. The Ballard Lake Property is located in Bader, Bruyere, Collishaw, Copenace, Echum, Dolson, Long and Marsh Townships within the Sault Ste. Marie Mining Division of Ontario, Canada approximately 54 km ENE of the Town of Wawa. The center of the Property is located at approximately 48.18° North Latitude and 84.13° West Longitude. The Property is comprised of 147 unpatented mineral claims consisting of 2,287 units with a total area of 36,592 hectares. The Property was acquired by way of a property acquisition agreement in 2015 and by staking recorded in November 2016 and March 2017. RT Minerals has a 100% interest in the Property subject to a 2% Net Smelter Returns Royalty (“NSR”) payable to the original Vendors of the Property, Michael Tremblay (66 2/3% of the NSR) and Mathieu Tremblay (33 2/3% of the NSR). Half of the NSR (i.e. 1%) can be bought back by RTM for one million dollars. The Property is located in the southeastern part of the Wawa Greenstone Belt which consists of early Precambrian rock that extends inland from the northeastern margin of Lake Superior to as far as Missanabie Lake. | |
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