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  • SYMBOLTSX.V BTU
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    BTU CONFIRMS HIGH-GRADE GOLD SAMPLES ON IRISH PROPERTY

    July 27th, 2017, Vancouver, BC, Canada – BTU CAPITAL CORP. (“BTU” or the “Company”) (BTU-TSX:V) is pleased to report the results of its recent due diligence site visit to the companies Galway Gold Property located in County Galway, Republic of Ireland.

    As part of the company due diligence program, several areas located on the Galway Property which have returned high-grade gold values were visited and five representative grab samples were collected.  The areas sampled included two sites in the Lee Valley and three sites on the Dooros peninsula.  Sample results are shown in the following table:

    Location

    Au ppm

    Au g/t

    Ag ppm

    Cu ppm

    Pb ppm

    Lee

    49.6

    49.6

    100

    967

    12.30%

    Lee

    7.25

    7.25

    9.4

    112

    931

    Dooros

    0.05

    -

    0.5

    406

    182

    Dooros

    0.02

    -

    0.5

    977

    13

    Dooros

    26.3

    26.3

    47.4

    3.73%

    5

    The company is targeting orogenic and low-sulphidation mineralization based on the following factors:

    • Location within the Caledonian (Lower Paleozoic) orogenic zone.
    • Favourable lithologies for metal precipitation (chemical traps) within the Dalradian Supergroup metasediments, e.g., graphitic schist, marble.
    • Favourable source rocks for gold, e.g., arc volcanics and numerous cross-cutting faults, evidence for post-collision rifting and volcanism in the Silurian/Devonian in Ireland and neighbouring terranes.  
    • Known gold occurrences related to late cross-cutting fault structures, some of which show evidence for near-surface boiling, e.g., Bohaun Gold occurrence.  

    About the Lee Occurrence

    The Lee occurrence lies within Prospecting Licence 2295 and is located 10km west of the Bohaun epithermal gold occurrence. A series of mineralized boulders were discovered by Ovoca Gold Exploration in the late 1980s. These boulders returned values of up to 195 g/t Au and 240 g/t Ag. Deep overburden sampling outlined a 1km long, NW trending lead-zinc-arsenic-silver-gold anomaly. Subsequent trenching located a tectonic breccia containing sulphides and gold values up to 12 g/t. The mineralized breccia is associated with a lamprophyre dyke intruded along a pre-existing shear zone (Ovoca Gold Exploration PLC, 1988).

    Additionally, Ovoca identified a second separate hydrothermal system on PL2295. In this system, gold values are associated with quartz porphyry intrusions in Dalradian rocks. Outcrop sampling of an exposed fault system yielded gold values between 3 and 5 g/t Au. Float samples of comparable material assayed up to 24.5 g/t Au (Ovoca Gold Exploration PLC, 1987).

    About the Dooros Occurrence

    The Dooros occurrence lies within Prospecting Licence 3145 and gold is reported from massive pyrrhotite mineralization hosted in an amphibolite unit. An historical sample taken from this area assayed by Anglo United Development Ltd. returned 1.3 g/t Au.  Ennex reported the discovery of a 3000’ long zone containing anomalous gold values. Trenching has identified seven bedrock copper-gold occurrences, with the best historical showing having a strike length of 120’ averaging 1.1% copper and 0.20 ounces gold per short ton. Historical trench samples include:

    • 1.7 metres of 11.2 g/t Au
    • 1.2 metres of 7.12 g/t Au
    • 2.7 metres of 12.6 g/t Au
    • 4.2 metres of   6.2 g/t Au

    (Source - Irish Base Metals / Aquatine Mining Data).

    Five of the occurrences were tested by drilling and all holes intersected mineralization including 15.0 feet of 0.17 ounces gold per short ton (Aurum Mineral Resources Limited 2009, Exploration Work Report PL3145).

    The five grab samples collected by BTU were assayed by ALS Minerals Laboratories located in Loughrea, Co. Galway Ireland, ALS Loughrea is an accredited laboratory. All samples underwent a 33 element four acid ICP-AES analysis.

    Michael England, President of BTU Capital Corp. states: “The continued delivery of high grade gold samples is fully consistent with our interpretation of the Galway Project and strengthens our intention to carry out an aggressive work program which will begin in September of 2017. The work program will include ground geophysics, geological sampling and mapping, and trenching.

    Derrick Strickland, P. Geo, a director of BTU, is a qualified person as defined by National Instrument 43-101 and is responsible for reviewing and approving the technical contents of this press release.

    ON BEHALF OF THE BOARD
    Michael England
    Michael England, President, CEO, Director

    FOR FURTHER INFORMATION, PLEASE CONTACT:
    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 information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and 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).

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