Key Developments
- The Spatiotemporal Geochemical Hydrocarbon ("SGH") soil sampling program results indicate two distinct zones with a high probability of indicating areas hosting gold mineralization in the Dixie Creek Target within the relatively small area surveyed
- BTU will drill test the SGH anomalies shortly and meanwhile drilling is continuing at the TNT target
- Downhole electromagnetic ("EM") program set to commence at TNT to target high-grade massive sulphide lenses
VANCOUVER, BC / ACCESSWIRE / February 6, 2020 / BTU METALS CORP. ("BTU" or the "Company") (BTU-TSX:V) is pleased to announce that results from the SGH soil sampling program have been received and the interpretive report of the survey data indicates two gold target zones with approximate surface areas of 650,000 m2 and 140,000 m2 in the Dixie Creek Target area. This is the same technique neighboring Great Bear Resources ("GBR") has successfully used to identify drill targets along the LP trend with numerous discoveries made in 2019. (For further information on the SGH technique and results visit www.btumetals.com/sgh). Figure 1 below highlights the SGH gold pathfinder zones and the predicted zones of gold mineralization are circled.
Bruce Durham, VP of Exploration, asserted; "Exploration under cover is always a challenge, however SGH has proven to be a useful tool for glimpsing under the blanket of glacial till in the area, even on our neighbour's property, so we completed an initial limited survey as a start and the results are very encouraging. Exploration under cover is also an opportunity to find near surface mineralization that has been missed by generations of prospectors who would have walked right over it because it doesn't outcrop. It is encouraging that other geological and geophysical data support the results of our SGH program in the Dixie Creek Target area. Several drill targets have been defined and we expect to recommence drilling in the Dixie Creek area shortly. On the TNT target, the geological team continues full force with drilling, cutting new lines for IP and soon we will commence downhole EM. This is an exciting time for our shareholders."
TNT Update
A downhole EM program has been commissioned to target high-grade massive sulphide lenses within the neighbourhood of the systematic grid of drill holes completed thus far in the northern section of TNT. This survey will provide detailed 3D information that will highlight the most prospective target areas for potential massive sulfides.
In the recently permitted southern part of TNT, additional lines are being cut, extending the TNT grid and IP surveys on this expansive system which now has a strike of 1600 metres. Drilling is ongoing and will soon move further towards the South. Initial drill results indicate the potential for the definition of a sizeable, near surface, polymetallic (Cu-Au-Ag) footwall style volcanogenic massive sulphide system of mineralization with a thickness of approximately 100 metres.
Paul Wood, CEO of BTU stated; "Ground programs are advancing very quickly now on both the TNT polymetallic potential VMS target and on the high-grade gold Dixie Creek target bordering Great Bear Resources. The SGH survey results have pointed us very clearly to where we should drill, and we will be mobilizing to drill the targets in the very near future. Concurrently at TNT, drilling continues, and the downhole EM survey will be hugely beneficial as we aim to find the potential massive sulphides."
Figure 1: SGH Gold Pathfinder Class Map with zones of predicted gold mineralization circled, note that both the pathfinder anomalies and the circled zones come directly from the Activation Laboratories Ltd. SGH report and have not been modified by BTU.
The technical contents of this release were approved by Mr. Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD
"Paul Wood"
Paul Wood, CEO, Director
pwood@btumetals.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Curkovic, Investor Relations
+1 416-577-9927
BTU Metals Corp.
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 using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they 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 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.
View source version on accesswire.com:
https://www.accesswire.com/575511/BTU-Identifies-High-Probability-Gold-Targets-at-Dixie-Creek-Down-Hole-Geophysics-at-TNT-to-Commence-Shortly
