BTU Metals Provides Update on Recent Activities and Future Plans
TSX VENTURE: BTU
Vancouver, British Columbia (FSCwire) - BTU METALS CORP. (“BTU” or the “Company”) (BTU-TSX:V) wishes to provide the following corporate update on its activities in both Ontario and Ireland.
Dixie Halo Project, Red Lake, Ontario
The recently acquired Dixie Halo project (1,514 hectares adjoining the northern and eastern boundaries of Great Bear Resources Corp.’s (GBR – TSX:V) Dixie Project) is now being prepared for an upcoming maiden reconnaissance visit by Company personnel in the coming weeks. Compilation of all available data is underway to assist the field team pinpoint high priority targets for this initial mapping and sampling expedition.
Burnthut, Northwestern Ontario
Also recently acquired, the Burnthut property is located east, and northeast, of First Mining’s current regional drill area, and covers all of the historic gold occurrences on Burnthut Island in Lake Minnitaki. Due to the close proximity to Dixie Halo, this project will also undergo an initial site visit in the coming weeks. The compilation at Burnthut is much further advanced given the supply of historic data obtained by BTU, including historic drill program results yielding up to 35 g/t over 0.6m (see PR Sept 5). Company geologists are eager to commence work at defining drill targets, potentially as early as this winter which allows beneficial logistics over the ice on Lake Minnitaki.
Shakespeare, Webbwood, Ontario
The Company has completed a 4 hole drill program to test targets across the 1.5 km IP anomaly which runs through the historic mine shaft at its Shakespeare Gold project located near Sudbury. The historic mine produced a reported 2,959 ounces of gold at a grade of 0.33 g/t. Core from the recent drill program has been logged, split and select samples sent to Actlabs in Timmins, Ontario. Results are pending.
BTU has put the Galway drill program on hold for the near future. Recently, BTU has been informed by the Exploration and Mining Division of the Department of Communications, Climate Action and Environment of the Republic of Ireland that a legislative problem has been identified in the environmental screening determination of mineral exploration drilling applications. This has led to an effective moratorium on new drilling permits being issued to mineral explorers throughout the Republic. The department is actively looking for solutions.
CEO Paul Wood states “Given the situation in Ireland we are extremely pleased to have been able to locate our two new projects in two exciting Canadian camps in an effort to continue to work towards building shareholder value. While we expect the Ireland issue to be resolved, at which time we will revisit our pending Galway drill program on this highly prospective 160 km2 property, we now have exciting new prospects locally to seek out new discoveries for our loyal shareholders.”
Mr. Douglas Hunter, P.Geo, is the qualified person as defined by National Instrument 43-101 who has examined and described the geological information available from public sources related to the property. and is responsible for reviewing and approving the technical contents of this press release.
About BTU Metals Corp
BTU Metals is a Canadian-based junior exploration company focused on developing its Galway Gold project located in Ireland and its growing portfolio of properties in Ontario. For more information on BTU Metals Corp. please visit our website located at www.btumetals.com.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
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FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).