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BTU Initiates 2020 Drill Program at TNT Target
Accelerates Acquisition of Dixie Halo South-East Extension VANCOUVER, BC / ACCESSWIRE / ...
About this update from Btu Metals Corp
[{"type":"text","content":"BTU Initiates 2020 Drill Program at TNT TargetAccelerates Acquisition of Dixie Halo South-East ExtensionVANCOUVER, BC / ACCESSWIRE / January 7, 2020 / BTU METALS CORP. (\"BTU\" or the \"Company\") (TSXV:BTU) announces it has commenced its 2020 drill program on the TNT target and has accelerated the acquisition of the Dixie Halo South-East extension property, announced October 28, 2019.2020 Drill Program CommencesThe Company has restarted drilling operations on the TNT target area. Drill core assay results are expected for Drill holes 19 and 20 in the next week to ten days with holes 21-24 thereafter. Additional geophysical surveys are underway to further define the dimensions of the TNT target.BTU Accelerates Acquisition of South-East Extension PropertiesBTU has elected to accelerate the terms of the Dixie South-East option announced October 28, 2019 by issuing the final 1.2 million shares and undertaking to fulfil the $38,000 work commitment by May 1, 2020. These claims are strategically important as they are adjacent to the newly discovered TNT target, which is interpreted to be a potentially gold-enriched VMS-type exploration target.The TNT target currently has a footprint of 200 m - 500 m wide East to West and at least 1,000 m North to South as identified by a Versatile Time Domain Electromagnetic (\"VTEM\") survey and Induced Polarization (\"IP\") survey work. The TNT target remains open to further expansion to the North and to the South. The South-East Extension claims cover the open extension of the TNT target to the South (see press release of December 23, 2019). The Company has applied for work permits on these claims which will allow the Company to carry out geophysical surveys and drill the resultant targets. Permits are expected to be received later in January or early February.BTU CEO Paul Wood said, \"We are off to a strong start to the 2020 exploration program with our first drill hole of the year already under way. Further, the acceleration of the acquisition of the South-East Extension properties will solidify BTU's substantial, approximately 200 km², land position near Red Lake, Ontario. BTU's primary focus in the early part of 2020 is to continue the exploration including drilling on the TNT target. At Dixie Creek, upon receipt of results and interpretation from the SGH survey the plan is to re-commen...