BTU Metals Corp (CVE:BTU) (OTCMKTS:BTUMF) said Tuesday that a new litho-structural report on its Dixie Halo property in Ontario identified “numerous” new gold exploration targets.
The geological report outlined 14 target areas that warrant follow up, with nearly half of the targets deemed high priority, the Vancouver-based explorer told shareholders.
Dixie Halo, a 200-square-kilometre property in Red Lake, is adjacent to the high-grade Dixie gold project owned by Great Bear Resources (CVE:GBR). The report confirmed that the prolific LP Fault that runs through Dixie extends toward the northeast corner of the main block of the Dixie Halo property.
WATCH: BTU Metals property surrounds Great Bear Resources as they continue to explore
BTU Metals is in the midst of a 2,000-metre drilling program that aims to evaluate a number of priority targets at Dixie Halo by the end of 2020, with additional drilling planned at the beginning of 2021. The firm is also conducting till sampling, geological mapping and prospecting on the property.
Distribution of F2 (blue) and F3 (red) folds interpreted across the study area
Conclusions drawn from the recently released report were based off of current data from Dixie Halo as well as publicly available data from Great Bear’s Dixie property.
"Given the size of our land package and the commensurate opportunity, we have commissioned several advanced technical reports utilizing various established processes and perspectives,” BTU CEO Paul Wood said in a statement.
“Together these new interpretive findings, in addition to our ongoing field work, have enabled us to identify and isolate 14 new targets, many of which we deemed to be top priority targets. These efforts have provided us with new insights and increase our confidence in our ability to achieve significant results."
BTU said it is in the process of integrating new data layers with existing exploration data gathered by the company, with further updates on this work and the implications of the new interpretive dataset forthcoming.
Contact Angela at angela@proactiveinvestors.com
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