- 19,723 hectares of highly prospective land in Red Lake, among the richest gold mining camps in the world
- Land package contiguous with the flagship Dixie Project of Great Bear Resources (TSXV:GBR, Market Cap $395 M as of Jan 13th, 2020), and its outstanding discoveries that appear to follow a trend that cross the BTU property as well as other structures proximal to their discoveries that extend southeasterly onto BTU’s property across the “Dixie Creek Target”
- Discovery of the “TNT Target” (November 2019) in drill holes 12 and 13, with significant intercepts of mineralization and alteration, assay highlight is 44.3 m of 1.14% CuEq with intervals containing as much as 5.56% Cu, 99.6 g/t Ag, and 2 g/t Au
- Expert assessment of currently available geophysical survey data has found that the target has a footprint of 200-500 meters east-west and at least 1,000 meters north-south
- The geological and geophysical data indicates the potential for a polymetallic, gold-enriched “volcanogenic massive sulphide” (VMS) deposit
The Ontario Drill Hole Database reveals just how underexplored the Dixie Halo property is relative to the neighboring Dixie Project. There are fewer than two dozen historic holes in BTU’s property, while Great Bear’s Dixie Project had 150+ holes in it prior to them acquiring it.
The geophysics clearly show the same high-strain package of prospective rocks with many structures that would be ideal for channelized fluid flow and metal precipitation extending onto BTU’s ground. BTU has about half of the wedge of high-strain rocks that contain GBR’s discoveries.
Two High Priority Targets
- The discovery of the polymetallic TNT target in drill holes 12 and 13 announced on November 28, 2019
- Drill hole 13 assays reveal elevated copper, gold, and silver values (see results below)
- Geophysics, including ground IP and resistivity, as well as airborne VTEM are being used to ascertain the footprint of the target and to define drill targets
- The lithology, alteration, and mineralization encountered in holes 12 and 13 coupled with the geophysical data provide compelling indications of a large gold-enriched “volcanogenic massive sulphide” (VMS) system
BTU has discovered compelling indications suggestive of a notable volcanogenic massive sulphide (VMS) referred to as the TNT Target. Partial assay results in the target area have identified polymetallic mineralization, including chalcopyrite enriched in both copper and gold, which is extremely rare. Additional drill permits have been received and drilling of the area has commenced to begin further exploration at this location.
Importance of VMS Mineralization in Canada
VMS style mineralization is one of the primary sources of copper and zinc production in Canada. Some VMS systems are enriched in gold and in some cases the contained gold is worth a significant portion of the value of those deposits. Examples would include: the polymetallic mines of the Flin Flon-Snow Lake District and the Horne copper-gold deposit in Noranda.
Historic interest in the potential for VMS discoveries in the area was in large part driven by the discovery of the South Bay VMS deposit which was discovered in 1968 and later mined between 1971 and 1982 by Selco. It is well known in the industry that VMS deposits tend to form in clusters within mining camps, with several or even dozens of discoveries being in the 1-5 million tonne range, and with occasional deposits being tens to hundreds of millions of tonnes. These deposits are known to be high dollar value deposits that are relatively easy to define, develop and mine.
Recent Drill Results
Polymetallic mineralization was encountered at above background levels intermittently throughout the hole, however the grade and continuity of mineralization was markedly improved beginning at about 280 metres down hole (200 m vertical) and continued to the end of the hole. For pictures of drill core please visit the Dixie Halo Media Gallery.
|Drill Hole||From (m)||To (m)||Thickness (m)||Au (g/t)||Ag (g/t)||Cu (%)||CuEq (%)|
Metal equivalency based on US$2.70/lb Cu, US$1350/oz Au, and US$17/oz Ag; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project.
Induced Polarization & Resistivity
A Ground IP and Resistivity surveying program is underway on 200 meter lines as shown in the adjacent map. So far lines L 4 N to L 14 N have been surveyed, with the outer edges of the anomaly marked on the map (the space within the red perimeter is the target). The anomaly is defined by a chargeability high and a resistivity low, which is interpreted to be caused by the presence of higher concentrations of sulphide minerals.
The total length of the extensive and broad target known as TNT is now at least 1,000 metres and the target remains open for expansion on both the north and south ends.
Holes 19 and 20 have been drilled to the East of hole 13 and are currently being logged and split for assay.
"The discovery of the new TNT Target is an attestation to our geological team's methodical work; It adds a new dimension to BTU’s exploration campaign and is testament to the potential for discoveries on the Dixie Halo property."Paul Wood
CEO & Director
Dixie Creek Target
- Bordered by GBR’s Dixie project to the north and east and is on trend with their “LP-fault” discoveries
- High-grade gold potential
- GBR’s exploration activities are working towards our Dixie Creek target area, with their most recent “Viggo” discovery being the closest yet
- GBR announced upcoming drilling will be even more proximal
- BTU drill program in the Dixie Creek Target area has encountered the rock types found north and south of the “LP fault” structure, as well as a mafic-felsic contact
- Geophysical work, including airborne mag and ground IP, have identified many favourable structures that warrant further investigation
- A Spatiotemporal Geochemical Hydrocarbons (SGH) survey of the area has been undertaken to help define further drill targets and the results are pending
The “LP Fault” structure hosts GBR’s most recent discoveries, including the Auro and Viggo Gold Zones, with results such as 10.65 g/t Au over 17.25 m. GBR has announced that it is drilling further towards the southeast along the LP Fault and thus closer to the BTU property boundary. In greenstone belts, it is not uncommon for splays off of main fault structures to contain as much gold as the actual main faults. BTU’s Dixie Creek Target area hosts both the main LP Fault structure as well as many associated structures.
An ongoing, in-depth assessment of geophysical data has found the existence of multiple zones of major D2 fold disruption. Well known geophysicist Mr. Alan King has helped identify D2 folds within the Dixie Halo boundaries that are of particular interest to BTU as these have been key indicators on GBR’s Dixie project. The Red Lake-Campbell complex (Red Lake gold mine) also occurs proximal to a regional D2 fold where shear zones developed and acted as primary hydrothermal fluid conduits.
The geology of the Dixie Halo property is remarkably symmetrical with GBR’s project. There are many exciting targets across the property, that are supported by multiple lines of evidence including prospecting and geophysics. Currently the Company is focused on advancing the TNT & Dixie Creek targets.