sur BTU Metals Corp. (CVE:BTU)
BTU Metals Corp. Expands Dixie East Project with Strategic Acquisition
BTU Metals Corp. has announced a definitive agreement to acquire a 100% interest in the Dixie East Block 3 Project. This property is located 6 kilometers east of the Kinross-owned Great Bear Project in Ontario's Red Lake District. This acquisition adds approximately 17 kilometers of total strike coverage to BTU's Dixie East Project, enhancing their strategic position in a key gold exploration area.
The Dixie East Block 3 acquisition strengthens BTU’s exploration footprint near Kinross’s Great Bear gold deposit, known for its high-grade discoveries. This expansion, adjacent to the BTU Dixie Halo Project, aligns with BTU's strategy of district-scale growth, leveraging a regional structural corridor associated with significant gold mineralization.
The terms of the transaction include issuing 800,000 shares and a cash payment of $16,000, alongside a 1.5% NSR. The company will begin geological work on the Block 3 property this summer.
R. E.
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