BTU Metals Corp.: BTU Commences Ground Program Aimed at Defining Drill Targets at Galway, Ireland
BTU Commences Ground Program Aimed at Defining Drill Targets at Galway, Ireland
Vancouver, British Columbia (Newsfile Corp. - November 7, 2017) - BTU Metals Corp. (TSXV: BTU) ("BTU" or the "Company") reports it has commenced work at its Galway Gold property located in County Galway, Republic of Ireland.
The company is targeting orogenic and low-sulphidation mineralization based on the following factors:
- Location within the Caledonian (Lower Paleozoic) orogenic zone.
- Favourable lithologies for metal precipitation (chemical traps) within the Dalradian Supergroup metasediments, e.g., graphitic schist, marble.
- Favourable source rocks for gold, e.g., arc volcanics and numerous cross-cutting faults, evidence for post-collision rifting and volcanism in the Silurian/Devonian in Ireland and neighbouring terranes.
- Known gold occurrences related to late cross-cutting fault structures, some of which shows textural evidence for near-surface boiling that affects precipitation of metals from solution, e.g., Bohaun Gold occurrence.
About the Lee Occurrence
The Lee occurrence lies within Prospecting Licence 2295 and is located 10km west of the Bohaun epithermal gold occurrence. A series of mineralized boulders were discovered by Ovoca Gold Exploration in the late 1980s. These boulders returned values of up to 195 g/t Au and 240 g/t Ag. Deep overburden sampling outlined a 1km long, NW trending lead-zinc-arsenic-silver-gold anomaly. Subsequent trenching located a tectonic breccia containing sulphides and gold values up to 12 g/t. The mineralized breccia is associated with a lamprophyre dyke intruded along a pre-existing shear zone (Ovoca Gold Exploration PLC, 1988).
Additionally, Ovoca identified a second separate hydrothermal system on PL2295. In this system, gold values are associated with quartz porphyry intrusions in Dalradian rocks. Outcrop sampling of an exposed fault system yielded gold values between 3 and 5 g/t Au. Float samples of comparable material assayed up to 24.5 g/t Au (Ovoca Gold Exploration PLC, 1987).
About the Dooros Occurrence
The Dooros occurrence lies within Prospecting Licence 3145 and gold is reported from massive pyrrhotite mineralization hosted in an amphibolite unit. An historical sample taken from this area assayed by Anglo United Development Ltd. returned 1.3 g/t Au. Ennex reported the discovery of a 3000' (914.4 meter) long zone containing anomalous gold values. Trenching has identified seven bedrock copper-gold occurrences, with the best historical showing having a strike length of 120' (36.6 meters) averaging 1.1% copper and 0.2 ounces (6.86 g/t) gold per short ton. Historical trench samples include:
- 1.7 metres of 11.2 g/t Au
- 1.2 metres of 7.12 g/t Au
- 2.7 metres of 12.6 g/t Au
- 4.2 metres of 6.2 g/t Au
(Source - Irish Base Metals / Aquatine Mining Data).
Five of the occurrences were tested by drilling and all holes intersected mineralization including 15.0 feet of 0.17 ounces gold per short ton (Aurum Mineral Resources Limited 2009, Exploration Work Report PL3145).
The 2017 work program will consist of mapping, sampling, and geophysics to follow up on this and other historic work as well as more recent work performed by BTU which garnered samples assaying up to 49.6 g/t Au (see PR dated July 27, 2017) from the Lee showing. A diamond drill program is expected to follow.
Andris Kikauka , P. Geo, is a qualified person as defined by National Instrument 43-101 and is responsible for reviewing and approving the technical contents of this press release.
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).
07.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: BTU Metals Corp. 1240-789 W Pender St. V6C 1H2 Vancouver
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