BTU Metals Corp says methodical exploration beginning to yield outcomes at Dixie Halo in well-known Crimson Lake gold mining district
The corporate’s flagship challenge is the Dixie Halo property, which covers a whopping 19,723 hectares
BTU Metals Corp () (), which has a market cap of round C$15 million, is one other title to have emerged from the reignition of curiosity within the already well-known Crimson Lake gold mining space in Ontario, Canada.
The group’s flagship challenge is the Dixie Halo property, which covers 19,723 hectares, of which 200 sq. kilometres (sq km) is contiguous with, and surrounds junior gold explorer’s ‘ () Dixie challenge, from the place a litany of constructive drill assays have been recorded.
In 2019, additionally placing the district within the highlight, Aussie main Evolution Mining () purchased from Goldcorp its Crimson Lake mine advanced in a US$375 million mega-deal. That mine has churned out 27 million ounces within the final 75 years.
At Dixie Halo, BTU has recognized three major targets: the Gold-in-till space and the Dixie Creek goal (which borders Nice Bear’s challenge to the north and east) – each of that are potential for gold, whereas a 3rd – the TNT goal – is potential for copper-silver-gold huge sulphide mineralization.
BTU is presently launched into a 2,000 metre (m) drill program that goals to judge a lot of precedence targets at Dixie Halo. Proactive just lately caught up with the corporate’s CEO Paul Wooden to seek out out extra…
Proactive: Please are you able to give a short description of how BTU Metals was established?
Paul Wooden (PW): BTU Metals began out like many different junior mining corporations, as a shell with a very good crew round it – a crew with the flexibility to lift cash; to establish potential properties; to do offers to accumulate these properties; and create value via methodical and cost-effective exploration. When Nice Bear Assets introduced their discoveries in Crimson Lake, Ontario, we have been in a position to pounce and purchase the very best neighbouring floor in 5 separate acquisitions and a few staking. We now have 200 sq km just about surrounding Nice Bear Assets and are about 1/50th their market cap.
Proactive: For many who are unfamiliar with the district, what makes Crimson Lake such a major space for gold mining?
PW: Crimson Lake is a world-famous high-grade gold district in North-West Ontario which has already produced greater than 30 million ounces of gold. The district continues to attract important funding within the mining sector which has yielded main new discoveries, most just lately by our quick neighbor, Nice Bear Assets, who hit $1 billion in market cap final summer time. Crimson Lake is a mining city – mining-friendly, many expert individuals, nice help companies, BTU has year-round street and exploration entry, energy via the property, and is 20 minutes from city.
Proactive: What do you contemplate to be the corporate’s best/major achievement(s) thus far?
PW: First, we’ve got been in a position to construct an skilled and well-rounded crew, from our board and administration to our discipline crew. We have been in a position to full a number of property offers to accumulate a big and extremely potential land bundle, which shares geology and main buildings with the numerous discoveries made by neighbouring Nice Bear Assets. We’ve got been in a position to full engaging financings alongside the way in which and have attracted strategic buyers with a long-term view.
On the geological aspect we’ve got been aggressively rising our database on a land bundle which had seen little prior work as a result of glacial cowl within the space. The methodical strategy to our exploration has began to yield outcomes, together with the invention of serious polymetallic mineralization (TNT Zone) late in 2019, and the invention of the primary seen gold in a drill gap on the property in 2020.
Proactive: What can buyers count on by way of information circulation from BTU Metals over the subsequent 12 months or so?
PW: Traders can count on to see a gradual stream of outcomes as we’re effectively funded and will probably be actively placing cash into the bottom alongside a 15km construction the place we’re concentrating on high-grade gold. The local weather and floor situations in Crimson Lake are amenable to year-round exploration, and that is what we will probably be doing. We’re excited to comply with up on our current discovery of seen gold and that would be the focus of our drilling early within the new yr.
We’re additionally anticipating the outcomes of a significant 3D geochemical-geophysical interpretation of the TNT Zone which can assist us resolve one of the best ways to maneuver ahead as we assess the financial potential of the numerous polymetallic mineralization we’ve got encountered there.
Contact the creator at email@example.com