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BTU Metals updates investors on drill program at Dixie Halo gold project at Red Lake, Ontario

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The Dixie Halo gold project, located in red Lake, Ontario, consists of four properties totaling approximately 12,963 hectares surrounding Great Bear Resources’ Dixie gold project.

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Additional Information:

Company: BTU Metals
Website: http://www.BTUmetals.com
Stock Symbol: TSXV: BTU
Date Published: Aug 20, 2019
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

BTU Metals has updated investors on its ongoing exploration activities at its Dixie Halo project.

The Dixie Halo gold project, located in red Lake, Ontario, consists of four properties totaling approximately 12,963 hectares surrounding Great Bear Resources’ Dixie gold project.

The company is currently drilling the eighth hole of the program with 7 holes, totalling approximately 1,300 meters, now complete.

Drilling to date has focused on testing IP anomalies near the north central boundary with Great Bear Resources (TSXV:GBR) about 1.5 kilometers south of Great Bear’s “Hinge Zone”.

Select core continues to be logged, sawn and shipped to the lab for assays as the holes are completed.

Among drill targets to be tested is a fence of short holes to test strong, broad IP chargeability anomalies on what appears to be the strike extension of Great Bear’s newly recognized “LP Fault” structure.

This structure hosts high grade gold at several locations along several kilometres and the structure is reported to be 18 kilometers in length.

BTU geologists believe the southeastern portion of this fault appears to cross BTU’s ground.

Other sub-parallel structures have been interpreted to be present or extend on to the Dixie Halo property.

Concurrent to the drill program, geophysical work plus prospecting is ongoing to identify additional targets and further assess the potential of the project.

Doug Hunter, VP Exploration, stated: “We are in the early days of our exploration program at Dixie Halo. After a brief mechanical delay on the second hole we are in full production now and with every hole drilled gaining valuable knowledge about the geologic settings of gold at Dixie and we are focused on what we regard as excellent targets for upcoming holes.”

The shares are trading at $0.105.

For more information, please visit the company’s website at www.BTUmetals.com, contact Paul Wood, CEO, at 604-683-3995 or by email at pwood@BTUmetals.com.

I’m Fiona Forbes for Investmentpitch Media