BTU Metals Announces Commencement of Drilling in Red Lake Adjacent to Great Bear Resources Ltd.

Rhea-AI Summary

BTU Metals Corp. announces the initiation of core drilling on its Dixie Halo property near Great Bear Resources in Red Lake, Ontario. CEO Paul Wood highlighted the excitement in restarting operations, with multiple priority targets already identified. VP Exploration Bruce Durham noted the large scale of the 200 km² property and ongoing fieldwork, including data-gathering programs to support drilling. The exploration remains on schedule, with no disruptions from COVID-19. Additionally, BTU granted 2,750,000 stock options to directors and consultants, exercisable at $0.22 for three years.

Positive

• Commencement of core drilling operations on the Dixie Halo property is expected to enhance exploration potential.
• Identification of multiple priority targets indicates a proactive approach to resource development.
• No major disruptions to operations due to COVID-19 acknowledges effective planning.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 29, 2020 / BTU METALS CORP. ("BTU" or the "Company") (TSX-V:BTU) (OTC PINK:BTUMF) is pleased to announce the commencement of core drilling operations on its Dixie Halo property adjacent to the Great Bear Resources Ltd Dixie property near Red lake, Ontario.

"We are excited to re-start drilling operations on our Dixie Halo property, a property that shares 35km of boundaries with Great Bear. We have outlined a number of priority targets and have several of them ready for drilling right now." stated Paul Wood, CEO of BTU Metals.

Bruce Durham, VP Exploration of the Company stated, "We are focused on drilling new, potentially gold bearing selected exploration targets on this large, 200 square kilometre property. Field work is on-going and a number of new targets have recently been identified as we expand the footprint of our exploration database. With drilling starting, our field staff are focussing their efforts on data gathering programs including Induced Polarization and Till sampling to support our ongoing drill program which we expect will continue for several months."

The Company's exploration work at its Red Lake, Ontario projects remains largely on schedule with no major disruption due to the COVID-19 government guidelines. The Company continues to monitor the situation, continues to be careful, and will adjust its activities and timelines as deemed appropriate.

BTU further announces it has granted a total of up to 2,750,000 stock options to directors, officers and consultants of the company exercisable at a price of $0.22 per share for a period of three years from the date of grant. The options have been granted in accordance with the company's stock option plan.

Bruce Durham, P. Geo., a qualified person as defined by National Instrument 43-101 has reviewed and approved the technical information in this press release.

ON BEHALF OF THE BOARD
"Paul Wood"

Paul Wood, CEO, Director
pwood@btumetals.com

FOR FURTHER INFORMATION, PLEASE CONTACT:

Andreas Curkovic, Investor Relations
+1 416-577-9927
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 using information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and they 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 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).

SOURCE: BTU METALS CORP.

View source version on accesswire.com:
https://www.accesswire.com/608229/BTU-Metals-Announces-Commencement-of-Drilling-in-Red-Lake-Adjacent-to-Great-Bear-Resources-Ltd

FAQ

What is BTU Metals Corp.'s recent announcement regarding drilling?

BTU Metals Corp. announced the commencement of core drilling operations on its Dixie Halo property near Great Bear Resources in Red Lake, Ontario.

What are the highlights of the drilling operation at Dixie Halo?

The drilling operation targets multiple priority exploration sites on a 200 km² property, with no disruptions from COVID-19.

How many stock options did BTU Metals grant recently?

BTU Metals granted a total of 2,750,000 stock options to directors, officers, and consultants, exercisable at $0.22 per share.

Who is overseeing the technical aspects of the drilling at BTU Metals?

Bruce Durham, P. Geo., a qualified person, has reviewed and approved the technical information concerning the drilling operations.

What steps has BTU Metals taken to ensure safety during COVID-19?

BTU Metals continues to monitor COVID-19 guidelines and has reported no major disruptions to its exploration activities.