BTU METALS APPLIES FOR DRILL PERMITS ON DIXIE HALO PROJECT FOLLOWING END OF FALL DRONE AND PROSPECTING PROGRAM
November 20, 2018, Vancouver, BC, Canada – BTU CAPITAL CORP. (“BTU” or the “Company”) (BTU-TSX:V) announces it is in the process of filing drill permit applications for its Dixie Halo, Dixie Halo South and Dixie Halo Southeast properties located contiguous to Great Bear Resources Ltd. (GBR-TSX:V)(“GBR”) Dixie Lake project in Red Lake, Ontario.
Following a second, successful work program at Dixie Halo South the Company has determined to commence drill permit applications and looks forward to fast tracking a maiden drill program in the New Year. The recent program consisted of limited sampling and mapping, a drone survey, and review of assessment files and geological interpretation. The drone survey covered approximately 350 line kilometers over 1700 hectares near the northern property boundary with Great Bear and the interpreted extension of the Great Bear mineralization trend. The orthophoto from this survey will serve as a base map to improve efficiency in all future exploration programs on the property, including drilling, sampling, and mapping. Drone survey data is currently being processed in Vancouver.
BTU President Mike England states “BTU has had the good fortune to expeditiously acquire these projects upon GBR’s reporting of a high-grade discovery of drill core assaying 16.35 meters of 26.91 g/t gold and 7 meters of 44.47 g/t gold in two holes at the Great Bear’s Dixie Project (see PR dated August 22, 2018). Dixie Halo South has become our immediate focus in the area given both the proximity to GBR’s recent discovery plus the amount of data already available on the ground.”
DIXIE SOUTH (“DS”)
- Fugro HELITEM airborne electromagnetic (EM) and magnetic Survey conducted by vendor resulting in 30 drill targets identified at Dixie Halo South
- Large, 6,200 ha property, covering prospective geology, bringing BTU’s total property holdings to approximately 8,800 hectares in the area.
- Strategic land position contiguous to Great Bear’s Dixie Lake property. Comparable units can be traced around a fold hinge with the southwest limb of this structure laying within the Dixie Halo South properties
- Previous grab sampling by private vendor returned up to 4.6 g/t Au and +11.50% copper*
*Note that grab samples may not be representative of broader mineralization however they clearly demonstrate gold mineralization on the property.
The Company further announces it has determined to no longer pursue the Shakespeare Gold project in an effort to focus the Company on the remainder of its portfolio.
The technical contents of this release were approved by Douglas Hunter, PGeo, a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report, and Mr. Hunter has not verified the technical data disclosed in this release due to the historic nature of reports quoted.
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).Back to Past News