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BTU Metals Corp. (TSXV:BTU) is pleased to announce it has received final approval from the TSX Venture Exchange on its previously announced acquisition of the Dixie Halo South property (see PR dated Oct, 17, 2018) adjoining and contiguous to the south and south-west border of Great Bear Resources Corp.’s (GBR – TSX:V) Dixie Project located in the Red Lake District of Ontario.
BTU Metals Corp. (TSXV:BTU) is pleased to announce it has received final approval from the TSX Venture Exchange on its previously announced acquisition of the Dixie Halo South property (see PR dated Oct, 17, 2018) adjoining and contiguous to the south and south-west border of Great Bear Resources Corp.’s (GBR – TSX:V) Dixie Project located in the Red Lake District of Ontario.
The acquisition of this land package along with the acquisitions of the original Dixie Halo, Dixie Halo South East and Dixie Halo Southwest Extension (hereinafter collectively referred to as the “Dixie Halo”) give the Company a total of 12,963 hectares of prospective land in this emerging Dixie gold discovery area of Red Lake.
Field reconnaissance carried out by BTU in October, in conjunction with a 1,700 hectare high-resolution drone survey covering the interpreted extension of the Great Bear mineralization trend, is being used to generate targets for upcoming work.
The technical team lead by Doug Hunter, P.Geo. and Don McKinnon Jr has returned to site. The focus is to conduct further work in a number of areas:
- Review and consolidation of assessment files and proprietary files
- Review of recently completed drone survey data results with Dr. Tony Pryslak, advisor to BTU
- Advance permitting process
- Meet with Wabauskang First Nation
- Establish grid, lines and spacing for planned upcoming Induced Polarization survey in high priority target area, with the objective of identifying drill targets
The Company continues to focus on the “Hinge Offset”thesis initially developed by Dr. Tony Pryslak and reinforced with supporting evidence from the Fugro Helitem Survey flown by the vendor of the Dixie Halo South claims. The Hinge Offset target areas are highlighted in figure 2 below “BTU Dixie Halo and Hinge Offset Targets”.
“We are very encouraged by the recent successes of our neighbor Great Bear Resources and are intent on making our own discoveries in similar geology across the borders of our claims.”stated Paul Wood, CEO of BTU Metals. Corp.
Figure 1: BTU Dixie Halo Property
To view a complete map of the Dixie Halo Project please visit https://btumetals.com/projects/Dixie_Halo.pdf. The drill hole intersection reported on the property location map is not on the Company’s Dixie Halo Property. Mineralization that may be hosted on adjacent properties are not representative of mineralization that is, or may be, hosted on the Company’s Dixie Halo Property.
Figure 2: BTU Dixie Halo and Hinge Offset Targets
The technical contents of this release were approved by Mr. Doug Hunter, P. Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
“Paul Wood”
Paul Wood, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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).
Source: www.accesswire.com