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BTU Significantly Expands Its Property Interests Adjacent to Great Bear in The Red Lake Gold Camp
VANCOUVER, BC / ACCESSWIRE / March 23, 2021 / BTU METALS CORP. ("BTU" or the "Company") (TSX...
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[{"type":"text","content":"BTU Significantly Expands Its Property Interests Adjacent to Great Bear in The Red Lake Gold CampVANCOUVER, BC / ACCESSWIRE / March 23, 2021 / BTU METALS CORP. (\"BTU\" or the \"Company\") (TSX-V:BTU)(OTC PINK:BTUMF) today announces the significant expansion of its Dixie Halo property holdings in Red Lake, Ontario. The Company has entered into an agreement that allows it to earn up to an 80% interest in the 3,000 hectare (\"ha\") Pakwash North property located adjacent to the east and southeast boundaries of its Dixie Halo project. The Dixie Halo project is located adjacent to the Great Bear Resources (\"Great Bear\") Dixie project. The new property is also adjacent to the north of the Great Bear Pakwash property.As well, drilling is continuing on a number of high-priority gold targets developed over the past several months, including testing of a strong SW-NE structural trend on the Dixie Halo property. Updates will be released as the program continues.Paul Wood, BTU CEO, said, \"This deal considerably strengthens our already commanding position in one of the most prospective areas of the Red Lake Camp. We started land acquisitions in the Dixie area in 2018 and have worked continuously at strengthening our land position, expanding our geological understanding of the area, and defining solid exploration targets. The Pakwash North property adds nearly 15% more area to our land position. We have already identified some areas with solid exploration potential where we intend to commence preliminary target definition work immediately.\"HighlightsThe Pakwash North property covers more than 3,000 ha beside the 19,723 ha Dixie Halo property currently held by the Company which is adjacent to the 9,140 ha Great Bear Dixie property. Maps and information on the new property are available on the Company's website; www.btumetals.com/pakwashnorthThe Pakwash North property is adjacent to the north of the 3,100 ha Pakwash property of Great Bear (Figure 1)The geology of the property is not well-defined, and the gold and base metal potential of the property remains virtually unassessed at this time, mainly due to the near complete lack of bedrock exposure on the property which has historically limited exploration in the entire areaThe Pakwash North property appears to straddle major structures, covers favourable geology for gold and base metal min...