- BTU hole 42 at TNT encountered a conductive zone of sulphide mineralization over 300+ meters including pyrite and intermittent disseminated chalcopyrite (copper sulphide), no visual massive sulfides.
- BTU engages industry leading Volcanogenic Massive Sulphide (“VMS”) deposit expert Prof. Harold Gibson to evaluate the potential of the TNT area. Drilling in the TNT area is now paused and will resume subsequent to the review and his analysis.
- BTU contracts industry leaders in Artificial Intelligence, Windfall Geotek to assist with the targeting of high-grade gold at Dixie Halo using their proprietary state of the art Artificial Intelligence (“AI”) system. Windfall Geotek has identified a number of highly prospective gold targets on BTU property and will continue to analyse to establish additional priority targets.
July 6, 2020, Vancouver, BC, Canada – BTU METALS CORP. (“BTU” or the “Company”) (BTU-TSX:V) today provided an update about recent and prospective activities in its summer exploration program. The Company has commissioned Windfall Geotek (“Windfall”) to deploy their proprietary CARDS AI system to identify high-grade gold targets. Additionally, BTU has engaged Prof. Harold Gibson, an industry leading expert on the analysis of VMS systems to review BTU’s TNT project data. The integration of a sophisticated 3D geochemical model with the geophysics and geology models will increase the likelihood of discovery as BTU selects the next drill targets in pursuit of copper rich sulfide mineralization. BTU is pursuing both high-grade gold and massive sulfide targets on its 200sqkm Dixie Halo property that shares a >35km border with Great Bear Resources Ltd. The property is 25km southeast of Red Lake, Ontario in an area with excellent access and infrastructure.
Paul Wood, BTU CEO, said, “Our summer exploration program continues to be advanced and expanded. Hole 42 was the first drill hole to test one of several of our promising TNT VMS targets. Visual inspection of the core confirms results that we continue to be in a very large mineralized system but have not yet demonstrated that we have encountered the massive sulfides we are targeting. The engagement of Prof. Gibson will help us optimize our next activities at the TNT target area where multiple large conductive areas have been identified by geophysics and remain to be tested. We are also eager to further develop our gold exploration targets across the project. Windfall Geotek’s unique AI platform enables us to utilize the abundance of data available to refine our next high priority targets.”
BTU Contracts Windfall Geotek Identify Additional High-Grade Gold Targets
Windfall Geotek (TSX-V: WIN) a global leader in the use of Artificial Intelligence (AI) for digital exploration that has been in business 15 years in the mining sector developing its proprietary CARDS analysis (AI) and data mining techniques. It combines all available public data sets including geophysical, drill hole and surface data. The algorithms designed and employed by Windfall Geotek are designed to highlight areas of interest that have the potential to be geologically similar to other gold deposits and mineralization in the Red Lake region. Windfall Geotek has played a part in numerous past discoveries utilizing its methodology as described at: https://windfallgeotek.com/.
Windfall Geotek has already identified numerous targets on BTU property based on public data. The Windfall and BTU teams will work together to confirm these initial AI targets and expect to supplement these initial AI targets with more as the evaluation advances.
Concurrently, the BTU team continues with geophysical surveying and prospecting as well as rock sampling and till sampling along the SW-NE structural trends where gold has been identified at surface and in initial wide spaced till sampling that was designed to identify areas of higher gold in till concentrations down-ice from surface gold mineralization. Rock and till samples have been sent to the labs for assaying and gold grain counts and analysis.
The Company’s exploration work at its Red Lake Ontario projects remains largely on schedule with no major disruption due to the COVID-19 government guidelines. The Company continues to monitor this evolving situation, continues to be careful to conduct all of our work in compliance with COVID-19 guidelines and will adjust its activities and timelines as deemed appropriate.
Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information in this press release.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
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Andreas Curkovic, Investor Relations
BTU Metals Corp.
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FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).