BTU COMMENCES DRILLING DIXIE CREEK SGH GOLD TARGET
- Drilling underway at Dixie Creek Target following up Spatiotemporal Geochemical Hydrocarbon (“SGH”) survey results
- Two separate targets near common boundary with Great Bear Resources
- Both SGH anomalies are proximal to induced polarization chargeability anomalies
February 26th, 2020, Vancouver, BC, Canada – BTU METALS CORP. ("BTU" or the "Company") (BTU-TSX:V) is pleased to announce that drilling is currently underway at the Dixie Creek Target to test gold exploration targets identified by independent specialty laboratory, Activation Laboratories Ltd. (“ActLabs”) and coincident with BTU’s own geophysical work, including induced polarization (“IP”) chargeability anomalies.
Results from the SGH soil sampling program have been received and indicate two high priority gold exploration targets on BTU’s Dixie Creek Target area. The SGH anomalies coincide with geologic structures that are clearly seen in geophysical surveys (e.g. see SGH anomalies over 2nd Vertical Derivative Magnetics in Figure 1). ActLabs has rated the Dixie Creek targets at a 5.5 out of 6 on its scale of prospectivity. SGH is the same technique neighboring Great Bear Resources (“GBR”) has reported to have used to identify some areas of gold mineralization along the LP structural trend (see BTU press release dated Aug. 1, 2019).
BTU CEO, Paul Wood stated, “We are extremely excited to test these new gold exploration targets at Dixie Creek as many indicators are now pointing us there. The independent SGH report conclusions are supported by our own IP and drill results in which we identified the mafic-felsic contact consistent with the LP trend, where GBR continues to explore to the southeast on either side of BTU’s Dixie Creek targets.”
The downhole electromagnetic program is currently underway to target high-grade massive sulphide lenses within the neighbourhood of the grid of drill holes completed thus far at TNT.
Drill holes 21 through 33 in the TNT area are complete. The earlier holes are being assayed at two labs and the latter holes are being logged and sampled. Drilling will recommence at TNT as assays are returned and results of the downhole EM program identify the most prospective areas to host potential economic massive sulphides associated with the target Volcanogenic Massive Sulphide (“VMS” ) system.
Bruce Durham, VP of Exploration, commented; “With seventeen holes completed in the TNT area we now know it extends for more than 2,200 metres. The target is up to 500 metres wide - holes drilled to date are providing us with geological data and are rather widely spaced so they can act as platforms for downhole EM surveying. The TNT target is extensive, and the downhole EM survey may serve as a fast-track vectoring method to discover significant lenses of massive sulphides.”
Figure 1: SGH Gold Anomalies circled over the 2nd Vertical Derivative of the Magnetics
The technical contents of this release were approved by Mr. Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101.
BTU Metals Corp. is a publicly traded junior, mining exploration company focused in the Red Lake district of Ontario, Canada. BTU currently holds or has under option approximately 200 sq. km of exploration properties continuous to Great Bear Resources (“GBR”) in the Red Lake, Ontario area. BTU is actively exploring two key targets; the Dixie Creek prospect, a high-grade gold exploration target immediately south of GBR and the TNT prospect, a large potential-VMS system in the southern part of the properties. For more information please visit www.BTUMetals.com.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Curkovic, Investor Relations
BTU Metals Corp.
Toll Free: 1-888-945-4770
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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 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).Back to Past News