For the 2014 C-5 Block winter exploration program, which expected to complete approximately six to seven weeks, approximately 2,500m of diamond drilling will be proposed with a budget of $1.2m.
The program involves testing five to six holes as a follow-up to mineralization intersected during the winter 2013 exploration program within the Corridor A target area.
The2013 exploration program identified two priority targets identified within the southern portion of the C-5 claim block.
In January 2012, RTCUC made an initial payment of $147,000 to Pistol Bay Mining and also earned an initial 55% interest in the C Blocks (including C-5) property by incurring $1,000,000 in expenditures.
By incurring an additional $1m in expenditures, RTCUC will have the right to increase its 75% interest on or before 31 December 2014.
Moreover, RTCUC can increase to 100% interest by paying $5m to Pistol Bay, for a period of five years after the exercise of this second option.
