BTU METALS CORP: GPR SURVEY DISCOVERS A LARGE INTERPRETED “VEIN-TYPE” STRUCTURE AT GALWAY, IRELAND
January 30th, 2018, Vancouver, BC, Canada – BTU METALS CORP. (“BTU” or the “Company”) (BTU-TSX:V) reports that the GPR (ground penetrating radar) survey has uncovered an interpreted “vein-type” structure at Galway. The BTU team has been mobilized with the objective to tie in the gold and arsenic soil anomalies with multi-gram gold assays known from outcrop and float samples; as there appears to be a strong correlation. The target mineralization is orogenic gold in association with shear zones and sulphidic quartz veins in the area of the Lee valley. Drill sites will be determined and the permitting process begun for a diamond drilling program.
The Company confirms it will focus initial drilling on the Lee target area. Highlights include:
- Historic exposed vein showing with selected grab sample returning 66.4 g/t Au, 247.0 g/t Ag, and 0.85% Pb. Note: selected samples are not representative of the mineralization hosted on the property.
- Newly discovered vein approximately 250 meters from the first Lee showing (see November 27, 2017 news release).
- The recently completed GPR (ground penetrating radar) survey has uncovered an interpreted structure that may be related to 'vein-type’ shear zone orogenic gold mineralization. An extract from the GPR technical report states, that "Lines C700, C800 and BC1000 show strong correlation to a large vein structure which at this stage is thought to be the Lee Showing". This remains to be evaluated in the field once ground magnetic survey data is available and field checking of geology including gold occurrences.
- There are areas of anomalously high gold, silver and arsenic in soils associated with known gold in outcrop at Lee. About 700 meters distant from Lee another distinct soil gold anomaly occurs where there are multigram gold assays from outcrops which are several hundred meters apart. Soil geochemistry for arsenic and gold was important factor in the discovery of the Curraghinalt gold in northern Ireland and it appears to be very useful exploration tool for the Galway project as well.
- Anomalous rock and soil results represent a signature analogous to the Omagh Gold Project operated by Galantas Gold Corp (‘inferred category’ resource estimate 1,373,879 tonnes @ 7.71 g/t Au, Technical Report, Phelps, 2014). The Omagh gold deposit is located in Tyrone County Northern Ireland, approximately 85 km east-northeast of Lee Valley.
The preliminary results from the now completed work program (previously announced November 7, 2017) confirm Lee as a high priority target. The geological team will return to Galway January 31 to spot initial drill hole targets to confirm the geological interpretation and outline areas for an Induced Polarization survey to delineate additional targets.
BTU representatives are currently compiling data for a comprehensive technical report, including the airborne and ground geophysical data from the work program along with geochemical and geological data to define further targets. Additional results on the Lee area, and also, Teernakill, Fooey, Glenlusk and Lettershanbally will be reported once complete.
Doug Hunter, P.Geo, is the qualified person as defined by National Instrument 43-101 who has examined and described the mineral occurrences within BTU Metals Corp. Irish prospecting licenses and is responsible for reviewing and approving the technical contents of this press release.
About BTU Metals Corp
BTU Metals is a Canadian-based junior exploration company focused on developing its Galway Gold project located in Ireland and the Shakespeare Gold project in Ontario. For more information on BTU Metals Corp. please visit our website located at www.btumetals.com.
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 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).Subscribe to UpdatesBack to Past News