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 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.
BTU Metals Corp. announces the initiation of core drilling on its Dixie Halo property near Great Bear Resources in Red Lake, Ontario. CEO Paul Wood highlighted the excitement in restarting operations, with multiple priority targets already identified. VP Exploration Bruce Durham noted the large scale of the 200 km² property and ongoing fieldwork, including data-gathering programs to support drilling. The exploration remains on schedule, with no disruptions from COVID-19. Additionally, BTU granted 2,750,000 stock options to directors and consultants, exercisable at $0.22 for three years.
BTU Metals Corp. has announced a non-brokered private placement aiming to raise $2,062,500 through the issuance of 7,500,000 flow-through units at $0.275 each. Each unit includes a common share and warrants priced at $0.30, valid for 36 months. Proceeds will support exploration at the Dixie Halo project in Ontario, adjacent to significant gold discoveries. The funding will enable an expanded drill program targeting high-grade gold and copper-dominant massive sulfide deposits. The offering awaits TSX Venture Exchange approval.
BTU Metals Corp. has obtained eligibility with The Depository Trust Company (DTC) and Continuous Net Settlement (CNS), enhancing access for U.S. investors to trade its common shares. This move is expected to streamline the settlement of transactions, benefiting both investors and brokerage houses. The company is preparing for an imminent drill program at its Red Lake property, targeting high-grade gold and copper-dominant areas, with 35 high-priority targets identified through advanced AI analysis. Exploration activities remain on schedule despite COVID-19 guidelines.