BTU Metals Corp has secured shareholder approval for an option agreement that the company says will strengthen the exploration effort in the Great Bear gold area of its Dixie Halo project in Ontario.
A special meeting of shareholders approved a deal with Kinross Gold Corporation (TSX:K), which owns the adjacent Great Bear project. That project has an initial mineral resource of 2.7 million ounces (Moz) indicated and 2.3 Moz inferred, according to a statement.
"Now that the shareholders have voted overwhelmingly to approve the option agreement with Kinross the geological teams will be meeting in the coming weeks to define the first phase of the work plan on the Dixie Halo project,” BTU CEO Paul Wood said in a statement.
Back in February, BTU agreed to grant an option to Kinross to acquire an undivided 70% interest in and to 757 mining claims covering approximately 16,410 hectares of land, located in the Kenora District of Ontario.
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