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RT Minerals Corp. Signs Agreements to Acquire Four New Properties Within the Case Batholith of Northern Ontario
(TheNewswire) Vancouver, BC - TheNewswire - February 28, 2023 - RT Minerals Cor...
About this update from Rt Minerals Corp.
[{"type":"text","content":"RT Minerals Corp. Signs Agreements to Acquire Four New Properties Within the Case Batholith of Northern Ontario\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC -\n \n \n TheNewswire -\n \n \n February 28, 2023 -\n \n \n RT Minerals Corp.\n \n \n (TSXV:RTM) (OTC:RTMFF)\n \n \n (the “Company” or “RTM”) is pleased to announce that\nit has entered into two separate property purchase agreements to\nacquire an additional four properties totalling 113 claim blocks\nwithin the boundaries of the Case Batholith in northern Ontario, and\ntwo other properties totalling 16 claim blocks also in northern\nOntario. The four Case Batholith properties are located in Agassiz\nTownship (29 claims), Potter Township (51 claims), Seguin/Challies\nTownship (14 claims) and Bragg Township (19 claims).\n \n \n \n \n In the first agreement, the Company will issue 250,000\npost-consolidation common shares (for more information on the Share\nConsolidation, please see news release dated February 6, 2023) and pay\n$4,100 to acquire 100% interest in 78 of the claims, of which the 14\nSeguin/Challies Township claims are subject to a 2% net smelter return\n(“NSR”) royalty that the Company may purchase 1% of the NSR for\n$1,000,000 at any time.\n \n \n \n \n In the second agreement, the Company will issue 250,000\npost-consolidation common shares and pay $3,000 cash to acquire 100%\ninterest in 51 Potter Township claims, which are subject to a 2% NSR\nroyalty that the Company may purchase 1% of the NSR for $1,000,000 at\nany time.\n \n \n \n \n Closing of the transactions is subject to the\nsuccessful completion of the Share Consolidation, a concurrent\npost-consolidation financing of $450,000, and the approval of the TSX\nVenture Exchange.\n \n \n \n \n The four new properties are located to the northwest of\nPower Metals Corp. (“Power Metals”) Case Lake lithium/cesium\ndiscovery in Steel township, Ontario (Figure 1). All of the claim\nblocks have been acquired on the basis of magnetic signatures\nresembling east - west trending pegmatitic dykes and laccolith\nstructures contained within the tonalite/granodiorite rock assemblages\nof the Case Batholith.\n \n \n \n \n The Potter and Seguin/Challies prospects contain vast\nexposures of outcrop that have been identified on ...