BTU Drill Mobilization at Dixie Halo, Red Lake, Ontario
Wednesday, July 10, 2019 8:00 AM
VANCOUVER, BC / ACCESSWIRE / July 10, 2019 / BTU Metals Corp. (“BTU” or the “Company”) (BTU-TSX:V) announces the commencement of its maiden drill program at the Company’s Dixie Halo Project, contiguous to Great Bear Resources Ltd. Dixie Project in Red Lake Ontario. Mobilization of the track mounted core drill supplied by Forage M3 Drilling Service Inc, of Hawkesbury Ontario is underway, with the drill rig now on site and drilling scheduled to commence immediately. The Company intends to complete an estimated 2,500 meters in phase one of the program that is being designed to test a variety of high priority gold exploration targets.
BTU’s technical team has identified numerous target areas via analysis of historic airborne and ground databases in conjunction with information from recently completed geophysical surveys and ongoing prospecting work. New mineralized zones prospective for the accumulation of significant gold mineralization have been identified in mafic to ultramafic rocks as well as in association with pyritic sediments, iron formations and felsic intrusive units. Preliminary results of the data compilation along with newly acquired data have resulted in the definition of numerous high priority targets being selected for drilling during phase one of this summer’s drill program.
“Our findings to date demonstrate the Dixie Halo Project is host to an environment very similar to that associated with the important gold discoveries of our neighbour Great Bear Resources (GBR-TSXV) at their Hinge Zone and Bear-Rimini Zone. We are very excited to now be in a position to test our theories and concepts with the drill.” stated Doug Hunter, Director and VP Exploration of BTU.
The first target to be drill tested in this first phase of drilling has been defined through historic and recent surveys to be a short strike length airborne electromagnetic target as well as a chargeability target using induced polarization surveying. The target is also associated with a positive magnetic feature. The target is located approximately 2.5 km to the southeast of the Hinge zone drilling of Great Bear Resources Ltd. Available records do not show any historic drilling or sampling work within at least 1 km of the proposed location of the target.
The technical contents of this release were approved by Mr. Doug Hunter, P. Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
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FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: BTU Metals Corp.