RT Minerals Corp. (TSXV: RTM | OTC: RTMFF) has announced it has entered into an agreement to acquire a 100% interest in 51 mineral claims in Sheba Township in the Abitibi Greenstone belt, for consideration of C$3,000 and 250,000 common shares of the company.
The property is located 70 km southeast of Timmins, Ontario.
The property is divided into three blocks: Sheba north (23 claims), Sheba south (15 claims), and Sheba east (13 claims).
The blocks are prospective for copper (Cu), nickel (Ni), cobalt (Co), chromium (Cr), platinum (Pt), and palladium (Pd) mineralization.
Previous exploration activities by other operators on the west border of the Sheba south block encountered samples taken from outcrop containing 0.19% Cu, 0.14% Ni and 0.34% Cr.
In addition to these samples, further samples were historically taken within the same ultramafic pyroxenite-peridotite assemblages on the Sheba south block which returned highly anomalous Cu, Ni, and Cr values from outcrop.
Whole rock analysis of these units appears substantially identical to the peridotites and associated Ni mineralization that occurs in Langmuir township, 36 km on trend to the northwest.
The pyroxenites-peridotites exhibit strong magnetic signatures and the Sheba north and Sheba east blocks cover extensive geophysical magnetic anomalies that are currently interpreted as peridotite intrusive bodies within the volcanic stratigraphy of the Abitibi Greenstone belt.
In addition, geochemical soil surveys indicate that the Sheba east block is covered by widespread anomalous Cu and Ni concentrations in soils.
The exploration programmes contemplated on the three blocks are potentially eligible under the Federal Government of Canada’s flow-through shares and critical minerals exploration tax credit programmes.
The acquisition of the Sheba property expands the company’s portfolio of 100% owned critical mineral and gold exploration projects to 13. Work permitting programmes have been submitted on 7 of the properties for the 2023 and 2024 exploration years.
To find out more, please visit www.rtmcorp.com.
