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BTU Metals provides investors with update on drill program at Dixie Halo

Published: 09:13 27 Aug 2021 EDT

BTU Metals Corp. - BTU Metals provides investors with update on drill program at Dixie Halo
It is also awaiting the results of hole BTU-21-66 after the discovery of numerous mineralized outcrops in the TNT area of the Pakwash North property

BTU Metals Corp has released assay results from its exploration efforts, which featured ten drill holes covering 3086.5 meters at its Dixie Halo property in Red Lake, Ontario. 

The Red Lake district is a flurry of exploration activity, with several explorers and producers advancing projects in the area, including BTU Metals. 

The recent program focused on the northeast portion of Dixie Halo described as “the general area of the southeast extension of the stratigraphic units that host the LP fault gold mineralization on the adjacent Great Bear Resources (TSX-V:GBR) Dixie project.”

READ: BTU Metals looks forward to receiving lab results from drill program at its Dixie Halo property in Red Lake

“While all 10 holes intersected anomalous gold, assays were not significant. It should be noted that the anomalous values are located in association with alteration and sulphide mineralization that includes pyrite, arsenopyrite and pyrrhotite,” the company statement read. 

The 10 drill holes in question were widely spaced in areas of little to no outcrop and provide important geological information to the company.  

BTU Metals believes there remains good potential to find higher gold values in the areas where more than 1-gram per tonne gold was intersected.

"Although we have not yet seen the higher gold values that we had hoped for, our confidence grows that we are defining the best targets for success,” Paul Wood, BTU CEO said in the press statement. 

“In addition to refining our targets at Dixie Halo, we look forward to resuming drilling at new gold targets as well as our newer Pakwash North property, which is looking very encouraging."

Additionally, numerous new drill targets have been identified in the west and central portions of the property, where the company has undertaken no drilling and there is very little historical data. 

BTU is also awaiting the results of hole BTU-21-66 after it made the discovery of numerous mineralized outcrops in the TNT area of the Pakwash North property.

According to the company, “Minor sphalerite and chalcopyrite mineralization was intersected supporting a possible VMS thesis and the possibility that more abundant copper and zinc sulphides may be present nearby.”

In July, mining activity was temporarily suspended in the Red Lake area due to wildfires. The activity suspension has since been lifted. BTU is now working with contractors to ascertain scheduling for follow-up drilling and plans to update shareholders as the program gets underway.

Contact the writer at georgia@proactiveinvestors.com

Follow her on Twitter @MissInformd

 

BTU Metals announces exploration program at the Tooth Area of their Dixie...

BTU Metals Vice President of Exploration Bruce Durham joined Steve Darling from Proactive to share news the company has announced a diamond drill has arrived on the Tooth area of the Dixie Halo project. Durham telling Proactive the area they are looking at is towards the eastern part of the...

on 11/4/22