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BTU Capital Corp.
Summary
| Project: | Shakespeare | |
|---|---|---|
| Deposit: | Shakespeare | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/31/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-5-2017: BTU Capital Corp. announces a Supporting Acquisition report for its Shakespeare deposit at the Shakespeare project. Summary of property in support of acquisition. BTU Capital Corp. (“BTU”) commissioned Ronacher McKenzie Geoscience (“Ronacher Mc | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Elisabeth Ronacher, Jenna McKenzie (Ronacher McKenzie Geoscience) | |
| ABSTRACT: | BTU Capital Corp. (“BTU”) commissioned Ronacher McKenzie Geoscience (“Ronacher McKenzie”) to complete an Independent Technical Report compliant with the NI 43-101 on BTU’s Shakespeare Property near Sudbury, Ontario. BTU wishes to acquire, as its “Qualifying Transaction” for listing on the TSX Venture Exchange, an option to earn all interest in and to the Shakespeare property. The property is located 80 km east of Sudbury, Ontario, and is easily accessible by vehicle. It consists of nine mineral claims totaling 528 ha. BTU and the property owners, Steven Anderson, Don McKinnon, 2554011 Ontario Ltd. and Kidridge Capital Inc. (“the Optionors”) entered into an option agreement on January 25, 2017, where BTU will issue a total of 1,800,000 shares to the Optionors and spend a total of $400,000 over two years on the property to acquire all interest in and to the Shakespeare property. The property is located in the area of the historic Shakespeare gold mine, which was in operation from 1903 to 1907. A total of 2,959 oz of Au were produced from six underground levels (Gordon et al., 1979). Historic exploration was completed on the property intermittently between 1938 and 2014, including trenching, sampling and limited drilling. An IP survey completed in 2012 delineated a zone of high chargebility, however, this anomaly was not interpreted in a geological context. In 2014, GeoNovus Minerals Corp. (“GeoNovus”) completed three diamond drill holes totaling 371 m; a thin mineralized zone was delineated in the area of the historic mine workings. GeoNovus did not complete any step-out holes to determine the continuation of this zone. | |
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