Rio Tinto Begins Drill Testing Potential Mafic-Ultramafic Targets Located on RPT's Dorion Block-Thunder Bay District
27 January 2010 - 11:00PM
Marketwired Canada
RPT Resources Ltd. (TSX VENTURE:RPT) ("RPT") announces that reconnaissance
prospecting and traversing recently completed by Rio Tinto Exploration Canada
Inc. ("RTEC") (formerly Kennecott Canada Exploration Inc.) on RPT's Dorion Block
identified magnetic features that may represent mafic-ultramafic intrusions. A
drill rig and geologists have mobilized onto the property and drill testing has
begun.
On August 9, 2009, RPT signed a joint venture proposal with RTEC, whereby RTEC
acquired the right to earn-in up to an 80% interest in RPT's 100%-owned Dorion
Block by incurring a total of $10.2 million in expenditures and issuing staged
payments totaling $350,000 on or before December 31, 2016.
Marshall R. Bertram, CFO and Director
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration and development activities and events or developments
that the Corporation expects, are forward-looking statements. Although
management believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include market prices, exploration and development successes,
continued availability of capital and financing, and general economic, market or
business conditions. Please see our public filings at www.sedar.com for further
information.
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