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BTU Acquires Two Extensive Gold Properties in the Active Wawa Gold District; The Echum Gold Project Adjacent to Alamos Gold and The Hubcap Gold Project Adjacent to Red Pine Exploration
VANCOUVER, BC / ACCESSWIRE / June 13, 2024 / BTU METALS CORP. ("BTU" or the "Company") (TSXV:B...
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[{"type":"text","content":"BTU Acquires Two Extensive Gold Properties in the Active Wawa Gold District; The Echum Gold Project Adjacent to Alamos Gold and The Hubcap Gold Project Adjacent to Red Pine ExplorationVANCOUVER, BC / ACCESSWIRE / June 13, 2024 / BTU METALS CORP. (\"BTU\" or the \"Company\") (TSXV:BTU)OTCQB:BTUMF) announces it has finalized the transaction to acquire a 100% interest in two large gold exploration projects in the active Wawa gold area of northern Ontario; the Echum Gold Project adjacent to Alamos Gold Inc. (TSX-AGI) and the Hubcap Gold Project adjacent to Red Pine Exploration Inc. (RPX-TSX:V).Each of the projects covers areas of historic gold mineralization and neither project has been the subject of significant or comprehensive exploration in recent years. The Echum property is adjacent along trend of the Alamos Gold Inc. (\"Alamos\") Island Gold Mine property and the Hubcap property is adjacent along the geological trend of the gold mineralization that has been extensively drill tested by Red Pine Exploration Inc. (\"Red Pine\").Figure 1: Map showing the Echum and Hubcap properties and Their Location in Relation to the Properties of Red Pine and Alamos Asset and Area HighlightsEach project is adjacent to an active, large scale gold exploration/development projectBoth projects host historic gold mineralizationEchum, the northern property, covers the extension of geological host rocks that occur on the adjacent Alamos Island Gold Mine propertyHubcap, the southern property, just southeast of the town of Wawa covers the extension of the geological trends on the Red Pine property, starting approximately 1200m from their historic Darwin Grace gold mineThe Hubcap project includes the historic Centennial Gold Mine where underground mine work was last undertaken in the 1930sThe properties, to be purchased 100%, have no ongoing or contingent payments, and are subject only to net smelter royalties of not more than 2%, (on the majority of the claims the royalty can be reduced to not more than 1%)Only two drill holes have been drilled on the entire property position in the past 6 yearsExisting data sets and work by neighbouring companies will allow the Company to quickly vector in on the best exploration targetsBoth projects have excellent proximity to infrastructure. Roads, highways (including Trans Canada Highway), town of Wawa, airport, wa...