BTU Metals Corp. (TSX-V:BTU, OTC:BTUMF) said its geological team is on-site executing its summer geology program at its Dixie Halo gold, silver, and copper project in Red Lake Ontario.
In a project update, the company told investors that its geological team was focused on mapping geological structures and alteration mineral assemblages where magnetic surveys suggested the gold-bearing LP fault continued toward the southeast.
Further geological mapping and prospecting are set to take place around the Pakwash Lake area through to the TNT target area.
READ: BTU Metals says it is prioritizing next targets at Dixie as it completes four drill holes
BTU is also working with AI partners, Windfall Geotech, to update the AI analysis because more geological information has become available since the last AI review.
Further, the company is waiting on assay results from the lab for four holes drilled in the “tooth” area.
The company noted that its 230-square-kilometer property shared a more than 35-kilometer common boundary with Kinross Gold Corporation (TSX:K)’s recently acquired ground from Great Bear Resources (TSX-V:GBR) Ltd.
“There is an increasing amount of geological activity in our area of Red Lake including by Kinross who has announced it expects to release an initial mineral resource on the Dixie project concurrent with its annual filing early next year,” said BTU CEO Paul Wood.
“We are looking forward to our next drill program that will draw on our entire database including drill core assays to come, the summer geological field program and new AI targets. Additionally, we still have target areas where assays identified areas with gold mineralization that we have yet to follow up on."
BTU Metals Corp is a junior mining exploration company focused on its Dixie Halo project located in Red Lake, Ontario.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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