BTU Metals Corp has announced the start of drilling on the Pakwash North target area of the Dixie Halo project in Red Lake, Ontario.
The current program is focused on untested high-quality geophysical targets with a potential to host base metal (copper-zinc) and gold-silver mineralization in the eastern part of the approximately 230 square kilometers Dixie Halo property area.
"These Pakwash North targets had been partially identified by historic airborne geophysical surveys, and now through BTU's 2021 summer work program which entailed confirming chip sampling of the outcrop, observation of structural orientation and dip as well as induced polarization and pulse electromagnetic surveys," Paul Wood, BTU CEO, said in a statement.
READ: BTU Metals kicks off new drilling program at its Red Lake properties that border the Dixie project owned by Great Bear Resources
BTU's Dixie Halo project shares over 35 km of common boundaries with Great Bear Resources (TSX-V:GBR)' flagship Dixie project. Kinross Gold Corporation (TSX:K) has recently entered into an agreement, valued at around $1.8 billion, that will see it purchase Great Bear Resources (TSX-V:GBR).
The company said drilling operations are being carried out by Forage Fusion Drilling Ltd of Hawkesbury. Drilling will cover the southeastern part of BTU's 100% owned land package as well as on the Pakwash North property that was acquired in 2021 through an earn-in agreement.
The Pakwash North target area is the focus of the current drill program
Mike England, BTU President noted that it is an exciting time for BTU shareholders as the company initiates drilling in this completely untested area east along the trend of the Great Bear discoveries.
“This maiden drill program is focusing on targets we feel may also be some of the most geologically interesting targets identified to data for additional TNT-copper zinc silver mineralization along with potential gold on the property," he said.
Geological, geochemical, and geophysical studies and evaluations were completed for the TNT and Pakwash North areas last year, the company said.
The studies indicate that the TNT area mineralization clearly has a direct copper-zinc-silver correlation with gold potential, similar to some known high-temperature base metal mineralization and the studies indicate the mineralization is associated with strong alteration including some areas with sodium depletion and strong potassium enrichment rather typical of volcanogenic massive sulphide mineralization systems.
Induced Polarization (IP) geophysical survey work on Pakwash Lake identified a significant chargeability target and a coincident resistivity low feature that extends for at least 600 meters and remains open to the north.
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