Raytec Metals Corp. Receives Final 2D Seismic Report
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VANCOUVER, BRITISH COLUMBIA, Jul 07 (MARKET WIRE) --
Raytec Metals Corp. (the "Company" or "Raytec") (TSX VENTURE: RAY)
announces that it has received the final seismic interpretation report
from the 2D seismic survey conducted on the KP441 permit area of the Spar
Property in Saskatchewan. The seismic program was conducted to define
additional potential potash mineralization to the previously defined
indicated resource of 12.49 million tonnes of K2O and an inferred
resource of 12.24 million tonnes of K2O.
The seismic data identified a large area on the Spar Property that has a
stable Prairie Evaporite environment where potash mining can occur. The
report estimates that the size of the total mineable potash area on the
KP441 potash permit is up to 97,000 continuous acres and outlines several
primary targets. A four well exploratory drill program is recommended to
further define the extent, grade, thickness and type of potash
mineralization present on the property. Seismic surveys offer the Company
a way of determining the lateral extent of the potash beds as well as
providing geological data to guide future drilling and mining operations.
Raytec's president, Mr. Brian G. Thurston, states: "We are pleased with
the results from the seismic program and look forward to advancing our
potash projects toward commercialization together with Angus Ventures
Corp. and Encanto Potash Corp."
The technical content in this news release has been reviewed by Wayne J.
Roberts, P.Geo., a director of Raytec and a qualified person as defined
by National Instrument 43-101.
About Raytec:
Raytec Metals Corp. is a well-financed, Canadian exploration company with
a recently signed Farm-In letter of intent with Africa Oil Corp. and a
recently signed letter of intent with Angus Ventures Corp. and Encanto
Potash Corp. Raytec currently holds over 180,000 acres of potash permits
in Saskatchewan, Canada - the largest producing region for potash in the
world. The Company holds approximately a 20 per cent interest in Sulphur
Solutions Inc., an emerging fertilizer company developing
state-of-the-art patented technology for the production of micronized
sulphur fertilizer. The Company is further diversified with an iron ore
project in Ontario, and a uranium joint venture project in the Athabasca
Basin of Saskatchewan.
To find out more about Raytec Metals Corp., please visit the company
website at www.raytecmetals.com or review the documents filed on
www.sedar.com.
On behalf of the Board,
RAYTEC METALS CORP.
Brian Thurston, President and CEO
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address exploration drilling,
exploration activities and events or developments that the Company
expects to occur, are forward-looking statements. Forward-looking
statements in this news release include statements regarding the Offering
(including the anticipated closing date) and future exploration plans and
expenditures. Although, the Company 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 forward-looking
statements. Factors that could cause actual results to differ materially
from those in forward-looking statements include market prices,
exploration and exploration successes, and continued availability of
capital and financing and general economic, market or business
conditions. These statements are based on a number of assumptions,
including among others, assumptions regarding general business and
economic conditions, the timing and receipt of regulatory and
governmental approvals for the transactions described herein, the ability
of the Company and other parties to satisfy stock exchange and other
regulatory requirements in a timely manner, the availability of financing
for the Company's proposed transactions and programs on reasonable terms,
and the ability of third-party service providers to deliver services in a
timely manner. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected on the forward-looking statements.
The Company does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Neither the TSX Venture Exchange nor its
Regulations Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts:
Raytec Metals Corp.
Brian Thurston
President and CEO
604 688 6410
604 688 6402 (FAX)
www.raytecmetals.com
Copyright 2009, Market Wire, All rights reserved.
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