BTU acquires two gold properties in Ontario, Canada

These projects are the Echum Gold Project adjacent to Alamos Gold Inc. and the Hubcap Gold Project adjacent to Red Pine Exploration Inc.

Asset and Area Highlights

• Each project is adjacent to an active, large scale gold exploration/development project.
• Both projects host historic gold mineralisation.
• Echum, the northern property, covers the extension of geological host rocks that occur on the adjacent Alamos Island Gold Mine property.
• Hubcap, the southern property, just southeast of the town of Wawa covers the extension of the geological trends on the Red Pine property, starting approximately 1200 m from their historic Darwin Grace gold mine.
• The Hubcap project includes the historic Centennial Gold Mine, where underground mine work was last undertaken in the 1930’s.
• The properties, to be purchased 100%, have no ongoing or contingent payments, and are subject only to net smelter royalties of not more than 2% (on the majority of the claims the royalty can be reduced to not more than 1%).
• Only two drill holes have been drilled on the entire property position in the past 6 years.
• Existing data sets and work by neighbouring companies will allow the Company to quickly vector in on the best exploration targets.
• Both projects have excellent proximity to infrastructure – roads, highways (including Trans Canada Highway), town of Wawa, airport, water, power, mining aware population and mining labour pool.
• No work commitments other than ongoing assessment work requirements with the Ontario government.
• The properties cover more than 750 mining claims over a total of 16 048 ha.
• Alamos has acquired other exploration/development projects in the area over the past 2 years, but also purchased a 19.9% interest in Red Pine in late 2019.

BTU CEO Paul Wood commented; “We are excited to get in the field on both the Echum and Hubcap projects as soon as possible. Based on previous work on the projects which included surface exploration, drilling and, in the case of one area on the Hubcap project, mining, management believes that these are projects of considerable merit. We are funded and intend to start exploration this summer. At the same time Kinross continues to progress early exploration work at Dixie Halo project under the terms of the 2023 Exploration Option Agreement. Dixie Halo is located adjacent to their world class Great Bear project outside Red Lake. We will also continue to pursue additional high-quality projects in strong jurisdictions.”

Read the article online at: https://www.globalminingreview.com/mining/10052024/btu-acquires-two-gold-properties-in-ontario-canada/