BTU Metals Corp has told investors it expects diamond drilling to take place from October this year through to the Christmas break at its flagship Dixie Halo project in Red Lake and also highlighted the recent busy activity at the famous Ontario mining camp, where nearly 30 million ounces of gold have been generated.
The explorer has inked a contract with Fusion Drilling of Hawkesbury, Ontario for a minimum of 2,200 metres (m). BTU's main asset covers 19,723 hectares (Ha) and is contiguous with, and surrounds Great Bear Resources (TSX-V:GBR) Ltd's Dixie exploration project.
"Our team has worked diligently all season with data collected from ongoing field and drill programs and, as a result, selected approximately 10 high priority targets as our next phase of work at Dixie Halo," said BTU CEO Paul Wood in a statement.
READ: BTU Metals provides investors with update on drill program at Dixie Halo
Noting Evolution Mining Ltd (ASX:EVN)'s acquisition of Newmont's assets in Red Lake, BTU also highlighted the former's recent purchase of Battle North Gold, the progression of several local properties toward commercial production, as well as the establishment of the gold discoveries of Great Bear.
"The area where Great Bear has been busy outlining strong gold mineralization on the Dixie property is not far from the BTU Dixie Halo property in an area that was historically under-explored and poorly understood largely due to the extensive overburden cover," said the company.
"As exploration by Great Bear and others progresses in the area, and the geology, as well as controls on gold mineralization, are better understood, new gold discoveries will almost certainly be outlined," it added.
BTU noted that its exploration remained largely on schedule with "no major disruption due to the COVID-19 government guidelines".
Contact the author at giles@proactiveinvestors.com