(www.biznow.gy) RT Minerals Corporation (RTM) says it has entered into an agreement to conduct exploration and mining operations on three mining permits in north eastern Guyana. The Claims are located in the Potaro-Siparuni region of Guyana. Access to the Claims from the capital city Georgetown is approximately 300 kilometers by road to the Claim area, with a small airfield situated 3 kilometers north east of the Claims.
The town of Mahdia is 8 kilometers to the north east with infrastructure for services such as fuel, equipment, and lodging.
The three Claims total 3,565 acres and are permitted for exploration and medium scale mining by the Guyana Geology Mines Commission (GGMC). The most northerly Claim is 1165 acres and RTM has exclusive rights to explore and develop this claim. The remaining two Claims are 1200 acres each and are presently non-exclusive to RTM save for areas identified therein, and designated by RTM from time to time, for mining mineral resources defined by RTM.
RTM will carry out a Phase One surface alluvial (sapprolite) exploration program that will consist of mapping, test pits, panning gravels and grab samples from each pit for assaying at an accredited laboratory in Georgetown, Guyana. This program is estimated to cost $100,000 USD and will be completed in approximately 60 days.
Contingent on the positive results from Phase One, RTM will carry out a Phase Two program consisting of bulk sampling, by excavator, of saprolite material and the processing of same through a wash plant. The budget for the Phase II program, including the purchase and commissioning of the Wash Plant, is estimated at US$300,000.