BTU Metals has been building its overall property position aggressively since it first acquired land in the area in August 2018. The Dixie Halo property now covers a total of 19,723 hectares and borders much of Great Bear Resources Ltd.'s (TSX-V: GBR) Dixie project.
19,723 hectares of highly prospective land in Red Lake, among the richest gold mining camps in the world
Land package contiguous with GBR's flagship Dixie project and its outstanding discoveries that appear to follow a trend that cross the BTU property
Discovery of the TNT Target with significant intercepts of mineralization including an assay highlight of 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
Geological and geophysical data indicates the potential for a polymetallic, gold-enriched "volcanogenic massive sulphide" (VMS) deposit
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
Cash reserves from recent financings set to take drilling well into 2020.
The polymetallic TNT target, discovered in drill holes 12 and 13 of the current drill program at Dixie Halo (see November 28, 2019 news release), is BTU's main focus going into 2020. Geophysics, including ground IP and resistivity, as well as airborne VTEM and a SGH survey are being used to ascertain the footprint of the target and to define additional 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.Continue Reading
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