BTU Metals announces Kinross commences drilling progam on Dixie Halo property

BTU METALS (BTUMF) announced that Kinross (KGC), pursuant to the option agreement between the parties, has just commenced a significant core drilling program on the Company’s Dixie Halo property adjacent to Kinross’s Great Bear gold deposit southeast of Red Lake, Ontario. The Company is also commencing work on its Hubcap property adjacent to the south boundary of the Red Pine Exploration Wawa Gold Project. The Company completed several drill campaigns on the Dixie Halo project over the time period Great Bear Resources was outlining extensive gold mineralization on its Dixie Project before Kinross acquired Great Bear Resourcesfor approximately C$1.8B. Subsequently, the Company entered into an option agreement with Kinross in a transaction that closed in Q2 of 2023. Since then, Kinross has been evaluating all of the available data on the Company’s Dixie Halo option property in preparation for follow-up drill testing target areas that may host gold mineralization. Part of that evaluation work involved re-logging of the drill core from the Company’s drill programs on the Dixie Halo property in addition to a full re-interpretation of all available data. With all the pre-drill stage technical evaluation work now complete, Kinross has secured the required permits and has budgeted for an extensive drilling campaign on the Dixie Halo Option properties. The drill program just commenced and is planned to include approximately 8,000 metres on various target areas identified as priority locations for potential gold mineralization. Paul Wood, CEO, commented: “We’re excited that Kinross has completed their full evaluation of the historic work on the Dixie Halo project and are now embarking on their initial drilling of the resultant target areas. We hope they are successful in finding new areas of alteration and gold mineralization that will add to the already significant milestones they are achieving on the Great Bear project.” Mr. Wood went on to add: “Additionally, based on the success of our recent work at Wawa the team is keen to reunite for a site visit next week to plan and commence follow up work.”