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BTU Metals Corp. reports on mineral exploration activity across its Ontario project portfolio. The junior mining exploration company’s recurring updates center on the Dixie Halo Project in Red Lake, Ontario, which is optioned to Kinross and sits adjacent to the Kinross Great Bear Project, the Dixie East Project, and gold and critical minerals properties in the Wawa gold district.
Company news also covers exploration programs, geophysical work, drilling plans, project acquisitions, financing activity, stock option grants, and other governance or capital-structure matters tied to BTU’s public-company status on the TSX Venture Exchange and OTCQB market.
BTU Metals Corp. has completed drill hole BTU-21-66 at the TNT target area, reaching 589 meters. All 10 drill holes targeting gold have been logged, with samples sent for analysis. Significant arsenopyrite mineralization was intersected, suggesting a connection to the LP Fault. The area has 2.4 km of strike on BTU ground. Additionally, a field program is underway to generate new targets on the 230 km² property, with plans to drill identified targets in the coming months. The Red Lake area remains active with potential for new gold discoveries.
BTU Metals Corp. (TSX:V:BTU, OTC PINK:BTUMF) has commenced drilling at the TNT area on its Dixie Halo properties, aimed at testing new high-priority targets near Red Lake, Ontario. The targets were developed using extensive geological and geophysical data, including recent surveys and geochemical analysis. The company highlights the TNT copper-silver-gold discovery from December 2019 as a significant focus. Investors are encouraged to watch a new video discussing the rationale behind the drilling.
BTU Metals Corp. (TSXV:BTU)(OTC PINK:BTUMF) has granted 600,000 stock options to a director and an officer, exercisable at $0.14 per share for a period of three years. This move aligns with the company's stock option plan, aiming to incentivize key personnel. The decision signifies BTU's commitment to retaining talent and aligning interests with shareholders by offering equity-based compensation.
BTU Metals Corp. has announced the results of recent geophysical surveys related to the TNT copper-silver-gold discovery in Ontario. Key highlights include immediate drilling of two conductive targets identified on line 500S and successful completion of 10 drill holes in the northeast of the property. The surveys indicate strong mineralization potential and a direct correlation between copper, silver, and gold. The Red Lake area remains active with significant mining developments, and COVID-19 has not disrupted the Company’s exploration schedule.
BTU Metals Corp. (TSX:V:BTU, OTC PINK:BTUMF) announced the commencement of geophysical surveying east of the TNT copper-silver-gold discovery in the Dixie Lake area, Ontario, on March 29, 2021. The company can earn an 80% interest in the adjacent 3,000 ha Pakwash North property. Initial surveys revealed significant chargeability targets and resistivity low features over 600 meters, which are indicative of potential sulphide accumulations. The ongoing geological evaluations aim to identify base metal and gold deposits, while the company continues its 3,500-meter drill program targeting gold on the SW-NE structural trend.
BTU Metals Corp. has expanded its Dixie Halo property in Red Lake, Ontario, securing an option to earn up to an 80% interest in the 3,000 ha Pakwash North property. This addition bolsters BTU's land position by nearly 15%. Drilling continues on high-priority gold targets, with updates to follow. CEO Paul Wood highlighted the strategic importance of this deal in enhancing BTU's position in a promising mining area. The option involves cash payments of $75,000, issuance of 1.4 million shares, and $1 million in expenditures over three years, pending TSX Venture Exchange approval.
BTU Metals Corp. has launched its first drill program of 2021, targeting 3,500 meters on its Dixie Halo property in Red Lake, Ontario. CEO Paul Wood emphasized the company's strong financial position, with over $2 million in cash, allowing them to pursue high-priority gold targets. Recent drilling returned promising results, including gold concentrations exceeding 100 ppb, with notable drill hole results of 1.1 g/t Au and 1.5 g/t Au. The exploration plans also include expanding into previously untested areas, indicating potential for more gold discoveries.
BTU Metals Corp. (TSX:V:BTU, OTC PINK:BTUMF) announces a significant gold discovery at the Dixie Halo property in the Red Lake region. Recent drilling at hole BTU-20-53 has intersected visible gold, marking a new discovery in an area previously unexplored for gold in bedrock. This discovery validates a year-long exploration strategy. The latest assays show a peak of 1.45 meters at 0.503 g/t Au from drill hole BTU-20-44. Ongoing drilling aims to expand on this promising result as the company continues its exploration efforts.
BTU Metals Corp. has released a litho-structural interpretation report for its Dixie Halo property, highlighting 14 new gold exploration targets. Conducted by AussieCan Geoscience Inc. and Geokincern Ltd., the study reveals complex geological formations and major shear zones linked to gold deposit formation. Ongoing core drilling aims for 2,000 meters of exploration this year, with further drilling planned for early 2021. The report confirms significant structural features relevant to gold mineralization, bolstering the company's confidence in achieving substantial exploration results.
BTU Metals Corp. has successfully completed a non-brokered flow-through private placement, raising $2,062,500 through the issuance of 7,500,000 flow-through units. Each unit includes a common share and a warrant allowing the purchase of additional shares at $0.30 for 36 months. The funds will be allocated for exploration at the Dixie Halo project in Ontario. This strategic investment welcomes SSI Asset Management Ltd as a long-term shareholder. The offering's closing is contingent on TSX Venture Exchange approval.