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BTU METALS CORP. (“BTU” or the “Company”) (BTU:TSXV) reports that it is currently mid-way through the previously announced drill program at its Shakespeare Gold properties (PR November 14, 2017) including the historic Shakespeare Mine shaft.
BTU METALS CORP. (“BTU” or the “Company”) (BTU:TSXV) reports that it is currently mid-way through the previously announced drill program at its Shakespeare Gold properties (PR November 14, 2017) including the historic Shakespeare Mine shaft. Drilling has resumed after a pause due to the deep freeze in the area. Two of four planned drill holes are now complete.
The historic grid from the 2014 Magnetics and IP program was located and re-established during Fall 2017 and four hole locations were chained from the base line and holes spotted. The drill holes are designed to test the easterly and westerly extension of the known mine workings and past known historic exploration work and drilling. The targets were chosen using largely the historic IP survey results, which produced strong anomalies on direct strike with the known workings; and to follow-up the successful drilling completed by the last operators in 2014 in which a highlight result was 15 g/t Au over 4 meters including 48 g/t Au over 1 meter. The IP anomaly on which the old Shakespeare Mine is located extends along and in close proximity to the Murray Fault, which is an important regional fault structure.
The first hole, a step-out, was drilled to a depth of 210 m at a point 300 m east of the 2014 drilling and 200 m east of historic work or previous drilling. The hole intersected mineralization at the interpreted target depth and mineralized over a 15 m length of core.
The core has been logged but not yet been sampled or assayed. The second hole was drilled 200 m west of the 2014 drilling. Two more holes are planned for the current program.
Core logging, sampling and splitting will be completed when the planned four-hole program is finished. All samples will be sawed and sent to Act Labs in Timmins, Ontario.
Doug Hunter, P.Geo, is the qualified person as defined by National Instrument 43-101 and is responsible for reviewing and approving the technical contents of this press release.
About BTU Metals Corp
BTU Metals is a Canadian-based junior exploration company focused on developing its Galway Gold project located in Ireland and the Shakespeare Gold project in Ontario. For more information on BTU Metals Corp. please visit our website located at www.btumetals.com.
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.fscwire.com
