Vancouver, British Columbia–(Newsfile Corp. – November 27, 2017) – BTU METALS CORP. (TSXV: BTU) (“BTU” or the “Company”) reports the following exploration program update for the Company’s Galway Gold property. The Exploration Team is currently conducting geological mapping, sampling, prospecting, as well as Magnetometer, and Ground Penetrating Radar (GPR) surveys at the Lee, Teernakill, Fooey, and Glenlusk target areas.
At the Lee area, a new vein has been discovered approximately 250 meters from the Lee vein. The vein is trending northwest at right angles to the Lee vein and is associated with a fault structure that cuts the foliated schist. The mineralogy of the vein is similar to samples taken in the southeast portion of the Lee Valley which contains several locations where multi-gram gold samples have been found (see PR dated July 27, 2017).
“The discovery of a new vein at Lee is very encouraging. We look forward to obtaining assays and the interpretation of geophysics from this current program in order to define drill targets for 2018.” stated Paul Wood, CEO of BTU.
A 20 line kilometer grid has been surveyed over and extending from the previously identified areas of high-grade gold mineralization. Ground magnetometer surveys have been completed over the grid and a programme of high-density deep-overburden soil sampling is currently being carried out. Preliminary magnetometer results suggest an east-west trending lithology contact occurs parallel to Lee Creek and adjacent to the Lee vein showing, as well as several fault structures which coincide with north-south trending creek gullies.
A ground penetrating radar survey has been permitted by the EMD on the Lee grid, and Terravision UK will begin this survey on November 27th, 2017. Terravision’s GPRPlus system is a state of the art method of overburden and bedrock surveying which is useful in identifying vein and fault structures in the Dalradian Group gold-bearing metamorphic rocks of Ireland.
The historic Teernakill mine site is also undergoing further exploration. Ground magnetics surveys as well as geological mapping and sampling have been completed. At Teernakill, sulphide replacement zones consisting of massive and semi-massive pyrrhotite and chalcopyrite occur intermittently over a strike-length of approximately 500 meters and widths ranging between 1-4 meters. Several new areas of mineralization located outside of the historical mine workings have been discovered.
At the Glenlusk target area, angular float samples taken in 2015 returned 930 ppb, 2370 ppb, and 5066 ppb gold respectively (Gold Note Minerals, 2015). For the 2017 programme, extensive geological mapping and rock sampling (including bedrock), as well as magnetometer surveys have been carried out over the primary area of interest. This work has traced a north-south fault structure that cuts the east-west trend of the country rock. The geological setting is similar to the Bohaun Gold Occurrence located 4.5km to the north. Bohaun is a north-northeast trending, steeply dipping quartz breccia zone that has seen extensive exploration for epithermal gold mineralization.
Fooey Target Area: In the summer of 2016, a fixed wing high resolution aeromagnetic survey conducted by Sander Geophysics Ltd (on behalf of the Geological Survey of Ireland) identified a 0.5 X 7 kilometer, east-west trending high strength positive anomaly that correlates with surface exposures of Bencorragh Formation metamorphosed pillow lava located south of Lough Nafooy. Geological mapping, geochemical rock sampling, and ground magnetometer geophysics were carried out over this formation. Widespread jasper-bearing chert horizons occur as late-stage layers and fragmental zones within the formation. Localized high order positive magnetometer anomalies correlate with layered and fragmental bright red coloured ferruginous chert, as well as increased amounts of disseminated pyrite, pyrrhotite, and minor chalcopyrite. Ground magnetometer geophysics and geological mapping has identified several prospective zones. Additionally, vuggy crystalline quartz veins with saccharoidal-crustiform textures and sparse sulphide mineralization occur as late stage infillings, suggesting potential for low sulphidation, epithermal deposit types similar to Bohaun located 3.5 km to the south-east.
Andris Kikauka, P.Geo, is a qualified person as defined by National Instrument 43-101 who has examined and described the mineral occurrences within BTU Metals Corp Irish prospecting licenses and is responsible for reviewing and approving the technical contents of this press release.
About BTU Metals Corp
BTU Metals is a Canadian-based junior exploration company focused on developing its Galway Gold project located in Ireland and the Shakespeare Gold project in Ontario. For more information on BTU Metals Corp. please visit our website located at www.btumetals.com.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
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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 information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and 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 of the 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).