DRILL PROGRAM CONTINUES ALONG SW-NE GOLD TREND
NEW GOLD-IN-TILL RESULTS VECTORING TOWARDS DIXIE HALO BEDROCK GOLD
NEW WESTERN PROSPECTIVE GOLD ZONE DISCOVERED
November 24, 2020, Vancouver, BC, Canada – BTU METALS CORP. ("BTU" or the "Company") (BTU-TSX:V) today provides an update on its exploration activities, including the ongoing drill program and new results from the 2020 till sampling program. Seven drill holes have been completed so far this fall with depths ranging from 100 m to 250 m, and it is expected that an additional seven more holes will be drilled before a planned mid-December break. Drilling will resume in early January. The 26 till samples reported here come from across the property (Figure 1) however most are concentrated along an 8 km x 5 km area of highly prospective geology that, in many respects, mirror the ‘LP-fault’ sequence of Great Bear Resources Ltd (“Great Bear”). Further samples from the 2020 till sampling program are being processed by Overburden Drill Management Ltd and will be announced in due course.
- Drilling continues on track for 2,000 meters pre-year end with a focus on the “gold in till” zone
- Strong gold-in-till results continue coming in from across the SW-NE geological and structural trend, with increased sample density beginning to allow for vectoring towards bedrock targets
- New target region identified in the far west of the property, supported by both till results and grab samples
- Several tens of line km of new grids are being established and drilling and geophysical surveys are ongoing
Figure 1: Total # of gold grains from 2019 and 2020 BTU till sampling programs
Tracing of anomalous gold in till sample results back to their source, as a way to locate new areas of gold mineralization under overburden, has been proven to be a valid, unique and powerful way to discover new gold deposits. In glaciated terrains, many significant gold discoveries have resulted from careful use of this technique over the past 40 years across Canada and elsewhere. Gold mines discovered in similar terrain include Casa Berardi, Quebec (INCO), Bell Creek, Ontario (Rosario Resources) and Rainy River, Ontario (Rainy River Resources). Learn more about till surveying at https://www.btumetals.com/?tillsurvey.
The new till results are consistent with past results in showing high total gold in till counts across the SW-NE geological trend which mirrors the Great Bear ‘LP-fault’ sequence. Furthermore, promising till results have been obtained far to the south-west of the property where a distinct finger of greenstone terrane occurs. Recent prospecting in this area has uncovered new mineralized showings, with grab samples returning as much as 4 g/t Au, highlighting the need for further work on this almost virgin corner of the property.
The (new and past) till results are notable for having a high proportion of gold grain morphology classified as ‘pristine’ or ‘modified’ relative to the ‘reshaped’ grains, indicating that the malleable gold grains have not travelled far from their bedrock source, most likely within a few hundred metres. Interestingly, a few of the new results with modest gold grain counts are more exciting than the total gold grain count suggests because of the large diameter of the grains (e.g. Figure 2).
Figure 2: Picture of gold grains from one of BTU Metals' recent till samples.
The ground team is continuing to assess the potential of the ‘Artificial Intelligence’ (AI) targets generated by Windfall Geotek. We anticipate delivery of phase 2 AI targets, those on the Southern portion of BTU’s property once Windfall Geotek incorporates new data in the near future. Several tens of kilometres of new lines have been cut in the region of the SW-NE trend, including over some of the AI targets, and Induced Polarization (“IP”) geophysical surveying is ongoing.
Paul Wood, BTU CEO, said, “Our till results continue to impress, and as we increase the density and coverage of our sampling we are beginning to zero in on additional promising target areas, and we are discovering new prospective areas on our very large property. Drilling is ongoing and we are on track for reaching 2000 metres in our fall drill program.”
The Company’s exploration work at its Red Lake, Ontario projects remains largely on schedule with no major disruption due to the COVID-19 government guidelines. The Company continues to monitor this situation, continues to be careful to conduct all work in compliance with COVID-19 guidelines and will adjust its activities and timelines as deemed appropriate.
Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information in this press release.
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