Wawa-news.com You can't hear the 'big picture'!
BTU has entered into a purchase and sale agreement pursuant to which the Company will purchase, upon closing, a 100% interest in two large gold exploration projects in the active Wawa gold area of northern Ontario; the Echum Gold Project adjacent to Alamos Gold Inc. (TSX-AGI) and the Hubcap Gold Project adjacent to Red Pine Exploration Inc.
Each of the projects covers areas of historic gold mineralization and neither project has been the subject of significant or comprehensive exploration in recent years. The Echum property is adjacent along trend of the Alamos Gold Inc. (“Alamos”) Island Gold Mine property and the Hubcap property is adjacent along the geological trend of the gold mineralization being drill tested extensively by Red Pine Exploration Inc.
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.”
The Company entered into a property purchase and sale agreement with Kingsview Minerals Ltd., pursuant to which BTU will purchase an undivided 100% interest in and to 763 mining claims (34 Boundary Cell Mining Claims, 2 Multi-cell Mining Claims, and 727 Single Cell Mining Claims) covering approximately 16,048 hectares of land, located in the Sault Ste. Marie District of Ontario. The properties are in good standing, there are no ongoing payments and there are no work commitments on any of the claims (other than as required by the province of Ontario to keep the claims in good standing).
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