BTU Metals Corp announced it has restarted its drilling program at its Red Lake, Ontario properties, which span around 230 square kilometres in the prolific gold district.
Drilling at the Dixie Halo and Pakwash North projects will focus on exploring for gold, copper and silver across the properties, which border Great Bear Resources (TSX-V:GBR) Ltd’s esteemed Dixie project in the region.
Great Bear is in the midst of a US$1.4 billion acquisition by mining major Kinross Gold.
READ: BTU Metals poised for at least 2,200 meters of drilling at its Dixie Halo project in Red Lake
BTU said it is currently awaiting assay results from 10 drill holes that were completed before the end of 2021 at Dixie Halo. Its upcoming drill program will focus on the Tooth Area of the project, which is immediately south of Great Bear’s property.
The firm will also start drilling on the Pakwash North project, as well as the eastern portion of Dixie Halo, to test a large geophysical target, according to a release.
"The Red Lake area has attracted a great deal of attention in the last quarter of 2021 with Kinross and Barrick both announcing deals on properties bordering BTU,” BTU CEO Paul Wood told investors in a statement.
“We will hit the ground running in January, continuing our drill program, for which we are fully funded, in two areas we consider to be highly prospective for gold mineralization just south of GBR, and for VMS-type mineralization further to the East part of the property with support from the Ontario Junior Exploration Program."
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