Pakwash North Property
We optioned Pakwash North property to BTU Metals in a cash and stock transaction, they have earned an 60% interest in the property and we've retained a 40% equity stake in any future exploration success,” Greg Lytle, president of Gold Finder.
Gold Finder owns a 40% interest in the 3,105-hectare Pakwash North property (the "Property"). Located ~36 km southeast of Red Lake, the Property adjoins the southeastern portion of BTU Metals’ Dixie Halo property and the northern boundary of Kinross Gold’s Bruce Lake property (Figure 1). Gold Finder (formerly GoldON) optioned the property to BTU (see news release of March 23, 2021), and they have earned a 60% interest in the property by incurring exploration expenditures that included drill testing of gold targets and a Cu-Zn-Ag-Au target.
Figure 1: Location of Pakwash North property and surrounding properties (click on image to enlarge).
BTU also entered into a series of transactions with Kinross in February 2023, including an option agreement under which Kinross may earn a 70% interest in a portion of the Dixie Halo property that adjoins Kinross’s Great Bear Project (Figure 1 - property shown in red). To earn this interest, Kinross must incur $4.7 million in exploration expenditures over four years.
Quoting from the BTU Metals news release of January 14, 2026:
"Kinross completed 8,200 metres of drilling at BTU's Dixie Halo property and has confirmed plans to complete its earn-in to 70% of that property.
Initial drilling consisted of 14 holes in two areas of the property.
Drilling in the eastern part of the property outlined numerous areas of alteration favourable for gold mineralization and expanded the understanding of the geology of the TNT area of the property as well as the more northeasterly part of the Dixie Halo property toward the Great Bear property.
The first drill hole completed by Kinross, BTU-25-001 included an intersection of visible gold ("VG") that returned an assay interval of 2.65 g/t Au over 0.75 m, and several other holes intersected anomalous gold values and significant alteration. Other intervals in other areas returned values generally in the 0.25 g/t to 1.0 g/t gold over intervals of around 1.0m. The holes were generally widely spaced and one per general target.
The alteration and mineralization intersected by Kinross in their 2025 drill program were sufficiently encouraging to have Kinross commit to incur significant additional expenditures in the next phase of exploration.
Under the earn-in and joint venture agreement Kinross committed to spend not less than $2,700,000 in the first three years of the option agreement and a further $2,000,000 to earn its 70% interest in the Dixie Halo option claim group. Kinross expects to start the process of carrying out work to earn the 70% interest shortly."
The Pakwash North property is 100% owned by BTU and Gold Finder on a 60%-40% basis, subject to a 1.5% net smelter returns (NSR) royalty held by EMX Royalty.
The technical information on this webpage has been reviewed and approved by Coleman Robertson, P. Geo, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.