VANCOUVER, BC / ACCESSWIRE / November 5, 2019 / BTU Metals Corp. ("BTU" or the "Company") (TSXV:BTU) is pleased to announce that it has commenced a Spatiotemporal Geochemical Hydrocarbons ("SGH") soil sampling program over two areas on its Dixie Halo property. The goal of the SGH program is to aid in prioritizing drill targets using a modern exploration technique that has proven successful at identifying bedrock gold mineralization below glacial till cover in the region.
Experienced field personnel are currently collecting appropriate sample materials for SGH analysis and interpretation by Activation Laboratories Ltd. ("Actlabs") whose proprietary SGH surveys and interpretation have, according to Great Bear Resources ("GBR"), aided in defining several targets that positively correspond to areas of known gold mineralization on their Dixie property (see GBR press releases dated August 1, 2019 and October 10, 2019).
BTU's recent drilling (see BTU press release dated October 15, 2019) indicates that there is a mafic-felsic contact on the portion of the Dixie Halo property that is being investigated with this SGH survey (see Figure 1). This recent drilling confirmed the mafic-felsic contact occurs close to a geophysical anomaly that extends for over 2 km on the Dixie Halo property, and which is defined by a linear break in the magnetic fabric of local rocks, a common diagnostic tool in the definition of fault locations. This diagnosis is further supported by the fact that a local creek follows the path of the interpreted fault, which is often the case where geological faults are known to occur. Interestingly, both the creek and the geophysical anomaly inflect north and coincide with the interpreted location of faults on the GBR property. The synchronicity of these multiple lines of evidence are a strong indication that this part of the Dixie Halo property has the potential to host substantial high-grade gold mineralization.
Furthermore, GBR's latest release discloses that a new gold bearing zone "Viggo" has been discovered southeast along the LP fault from their Auro discovery, and notes their plan to drill even further southeast, closer to BTU's Dixie Halo property (see GBR press release dated October 30, 2019).
Figure 1 - SGH Survey Sample Plan
The BTU in-field sampling will be conducted over 6 square km on mostly 100 metre lines with 50 metre sample intervals and is expected to take approximately two weeks to complete. Upon receipt of the SGH program results, drilling will be undertaken to test the targets that are generated.
CEO, Paul Wood explained the new SGH initiative by the Company; "After reviewing the publicly available information disclosed by Great Bear and some of the background technical data and case history information provided by Actlabs our technical advisors determined that due to the extensive size of the Dixie Halo property and the pervasive overburden cover on the property, data derived from a SGH survey would be a cost effective tool in the exploration toolbox to help the technical team vector in on new areas of gold mineralization." Mr. Wood commented further; "we are certainly not lacking areas across the property that warrant further work. Rather, we are using all of the explorationists' tools in a cost-effective manner to give ourselves the best chances for success. By using strategic exploration methods, BTU is mitigating risks with the overarching goal of maximizing value and potential for the incredible returns that successful early-stage exploration can achieve for our shareholders."
Drilling continues to test geophysical targets elsewhere on the property.
The technical contents of this release were approved by Mr. Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
"Paul Wood"
Paul Wood, CEO, Director
[email protected]
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Curkovic
Phone: 1-416-577-9927
BTU Office:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.