Canada - BTU METALS CORP. ('BTU' or the 'Company') (BTU-TSX: V BTUMF-OTC) today announces the restart of its drill program on its Dixie Halo and Pakwash North properties.
Assay results for samples from 10 drill holes completed prior to the end of 2021 on the Dixie Halo property remain pending. Drilling in the first quarter of 2022 will focus on the exploration for gold and copper-gold-silver across its 230km2 property that shares a >35km common boundary with Great Bear Resources Ltd. ('Great Bear').
Drill Program to Re-Commence Imminently
The drilling crew and equipment will be mobilized this month and are expected to continue drilling operations until Spring breakup which is typically April in the Red Lake area. Focus will be on the Dixie Creek area and the Tooth Area, both immediately south of Great Bear, which has recently received a takeover offer from Kinross for a minimum of $1.8 billion. Additionally, as soon as conditions permit, drilling will commence on the Pakwash North project and on the Eastern part of the Dixie Halo property to test a large geophysical target generated from an extensive geochemical and geophysical data review.
Samples Currently being processes for analysis
BTU is currently waiting on assay results from ActLabs for 10 holes drilled in the Hiewall Lake, Rose Lake, and The Tooth areas which are geologically similar to the LP Fault with several kilometres of contact between clastic metasediments and felsic and mafic volcanic rocks. The Company is also awaiting assays on prospecting samples, on outcrops across the property including the Pakwash North area.
Paul Wood, CEO of BTU states 'The Red Lake area has attracted a great deal of attention in the last quarter of 2021 with Kinross and Barrick both announcing deals on properties bordering BTU. We will hit the ground running in January, continuing our drill program, for which we are fully funded, in two areas we consider to be highly prospective for gold mineralization just south of GBR, and for VMS-type mineralization further to the East part of the property with support from the Ontario Junior Exploration Program.'
BTU Review and Update to Year End 2021
Located in Red Lake, Ontario, Canada - a true Tier 1 jurisdiction and home of one of the largest, highest grade gold camps in North America, which has produced more than 20MM ounces of high-grade gold in an area that is readily accessible and has all services and supplies required to support all stages of exploration, development, and exploitation
The small footprint of Red Lake's historic high-grade ore bodies enhances the potential for further discoveries as shown by Great Bear Resources (GBR TSX-V) discoveries on their Dixie project
Evolution Mining, in 2019, purchased Newmont's Red Lake operations for $375 mm (USD) with contingent payments of up to another $100 mm (USD) and a $50 mm (USD) exploration commitment. Also purchased Battle North in 2021
230 km2Dixie Halo property has highway access, powerlines, extensive network of logging trails, and surrounds the southeast, east and around to the north of the GBR property. The Dixie Halo property has a 35 km shared border with Great Bear Resources and is close to the projected trace of their new gold trend
GBR, recently subject of a takeover bid by Kinross for at least $1.8 bn from a low market capitalization of $12 mm (August 16, 2018)
GBR discovered broad areas of high-grade mineralization with assays of up to 1 kg/tonne Au at Dixie Hinge and Limb 1 km north of BTU; also high-grade Au within a lower grade disseminated Au mineralized halo drilled over a 4 km structure, the LP Fault, which remains open
BTU assembled the land package through six separate transactions and staked claims, all since the GBR discoveries in August 2018
Underexplored - the bedrock is almost entirely covered in shallow overburden, has only seen very limited exploration (only 10 historic holes on the core property at the time of the BTU acquisitions)
BTU has assembled an impressive geological database over the past 3 years by completing methodical sampling, mapping, geophysical surveys and drilling - all critical in developing a solid foundation for future exploration success
BTU Metals Corp. is a junior, mining exploration company focused on its Dixie Halo project located in Red Lake, Ontario.
Contact:
Andreas Curkovic
Tel: +1 416-577-9927
BTU METALS CORP. 
