VANCOUVER, BC / ACCESSWIRE / August 19, 2019 / BTU Metals Corp. (“BTU” or the “Company”) (BTU-TSX:V) is pleased to provide the following update on its ongoing exploration activities at its Dixie Halo project located in Red Lake, Ontario.
The Company is currently drilling the eighth hole of the program with 7 holes, totalling approximately 1,300 meters, now complete. Drilling to date has focused on testing IP anomalies near the north central boundary with Great Bear Resources (GBR-TSX:V) about 1.5 km south of GBR’s “Hinge Zone”. Select core continues to be logged, sawn and shipped to the lab for assays as the holes are completed.
Among drill targets to be tested is a fence of short holes to test strong, broad IP chargeability anomalies on what appears to be the strike extension of GBR’s newly recognized “LP Fault” structure. This structure hosts high grade gold at several locations along several kilometres and the structure is reported to be 18 km in length. BTU geologists believe the southeastern portion of this fault appears to cross BTU’s ground. Other sub-parallel structures have been interpreted to be present or extend on to the Dixie Halo property.
A map showing IP lines and recently completed drill holes, overlaid on 1st vertical derivative from drone geophysical survey carried out by BTU in recent months. This can also be viewed at https://btumetals.com/?project=3.
Concurrent to the drill program, geophysical work plus prospecting is ongoing to identify additional targets and further assess the potential of the project.
“We are in the early days of our exploration program at Dixie Halo. After a brief mechanical delay on the second hole we are in full production now and with every hole drilled gaining valuable knowledge about the geologic settings of gold at Dixie and we are focused on what we regard as excellent targets for upcoming holes.” stated Doug Hunter, VP Exploration for BTU.
The Company would like to acknowledge the continuing support and assistance of the team at the MNDM office in Red Lake. The staff there continues to be extremely helpful as the company ramps up its 2019 exploration program.
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, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
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: BTU Metals Corp.
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