Quantcast
Channel: admin – Brixton Metals
Viewing all 141 articles
Browse latest View live

Brixton Metals Closes $1.8M First Tranche of Private Placement and Provides Corporate Updates

0
0

April 4, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has closed its previously announced private placement of units and flow-through common shares for aggregate gross proceeds of approximately $1.8 million (the “Private Placement”). The Private Placement was brokered by Gravitas Securities Inc. (“Gravitas”) and Red Cloud Klondike Strike Inc. (together, the “Agents”) and the Private Placement included a non-brokered component that completed concurrently. The Company intends to use the net proceeds to advance its Thorn project and its Langis project, and for general working capital.

The Private Placement consisted of the issuance of 2,776,800 units (“Units”) at a price of $0.50 per Unit for proceeds of $1,388,400 and the issuance of 711,200 flow through common shares (the “FT Shares”) at a price of $0.55 per FT Share for proceeds of $391,160.  Each Unit consisted of one common share and one common share purchase warrant (“Warrant”) with each Warrant exercisable by the holder into one common share of the Company at a price of $0.70 per share for a period of 24 months from the closing date.  On closing of the Private Placement, the Agents were paid a commission comprised of a cash fee in the amount of $135,723 and were issued an aggregate total of 266,120 Agents’ warrants. Each Agents’ warrant is exercisable to acquire one common share of the Company at a price of $0.50 for a period of 36 months from closing of the Private Placement. In addition, the Company also issued 250,000 common shares to Gravitas in satisfaction of a corporate finance fee payable in connection with the Private Placement.

The Company intends to close another tranche of the Private Placement by the end of April, 2017.

All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from closing date.

Corporate Updates

The Company also advises that it has acquired mineral lands in the prospective Atlin gold camp from Armadillo Resources Ltd. (“Armadillo”). The LD claims cover 300 hectares. Gold mineralization previously reported by Standard Gold includes 299.65 g/t gold from a 15 kilogram sample collected from a trenched quartz vein. Several 15 kilogram bulk samples returned values in excess of 30 g/t gold from quartz material and a maximum of 7.75 g/t gold from altered wall rock. The highest grab sample assay result was from a 30 centimetre quartz vein which assayed 1,615.77 g/t gold. The best drill intersection was from Hole I and returned 8.52 g/t gold over 3.05 metres. Under the terms of a purchase and sale agreement with Armadillo, the Company shall issue 20,000 common shares and make a payment of $13,000 in cash to Armadillo.

The Company granted 1,325,000 Options to Employees, Directors, Executives and Consultants of the Company as per the Company’s stock option plan approved at its recent annual general meeting. The options are exercisable for a ten year period at a price of $0.50 per share.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility.

Brixton wholly owns 2 past producers of high-grade silver within the Silver-Cobalt Camp of Ontario. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt, the Hudson Bay mine produced 6.4Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. The projects are located 500 km north of Toronto, Canada. The high-grade silver mineralization occurs as moderate-steeply-dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase.

The 996 SQ/KM, wholly owned Thorn Project is located in northwestern British Columbia, Canada, approximately 105 km ENE from Juneau, AK. The Thorn project hosts a district scale gold-silver trend associated with Triassic to Eocene volcano-plutonic complex. A series of long- lived mineralizing events has been identified related to porphyry and epithermal environments. Targets include high-grade gold-silver underground and large-scale open pit gold type targets.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707
info@brixtonmetals.com
brixtonmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, the proposed use of proceeds, the proposed closing of a second tranche of the Private Placement, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the exploration potential of the Langis property based on historical information resources estimates on the Thorn Project are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.


Brixton Metals to Sell Its Non-Core Mining Claims in the Cobalt Camp, Ontario

0
0

June 7, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has entered into an asset purchase and sale agreement with First Cobalt Corp. (TSXV: FCC) (“First Cobalt”), to sell 100 percent interest in Brixton’s non-core mineral claims located in the Cobalt Camp, Ontario, Canada. The 22 claims cover approximately 848 hectares. The agreement provides that First Cobalt will pay Brixton $325,000 cash.

Chairman and CEO of Brixton, Gary R. Thompson stated, “These non-core claims were not contiguous to Brixton’s Langis or Hudson Bay properties. The divesture of these claims allows Brixton to focus on our wholly owned Langis and Hudson Bay past producing, high-grade silver-cobalt mines within the Cobalt Camp.”

A Finder’s Fee of $16,500 is payable to Red Cloud Klondike Strike Inc., in connection with this transaction.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval for the issuance of the Acquisition Shares, historical unclassified resource estimates are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Brixton Metals to Acquire the Past-Producing Hog Heaven Mine from Pan American Silver with Historical Estimate of 47.3 Million Ounces of Silver

0
0

June 22, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has entered into an asset purchase and sale agreement with Pan American Silver Corp. (PAAS: NASDAQ; PAAS: TSX) (“Pan American“), to acquire 100 percent interest in the Hog Heaven project, a past-producing silver mine (“Hog Heaven Project”) in the State of Montana, subject to Pan American retaining a 3.0% net smelter returns royalty on the Hog Heaven Project.

Highlights:

  • Historical estimate of 47.3 million ounces of silver and 225,800 ounces of gold(1);
  • Past production by Anaconda Mining Company (“Anaconda”) (1929 – 1946) of 6.4Moz Ag from 241,000 tons at an average grade of 26.6 troy ounces of silver per ton;
  • Additional past production of 0.46Moz Ag from 49,700 tons, grading 9.35 troy ounces of silver per ton by a lessee from 1963 to 1975; and
  • Ore was shipped directly to smelters.

The agreement provides that Brixton will issue $1 million in common shares of the Company (the “Acquisition Shares”) of 2,687,091 shares to Pan American on closing of the transaction (with a deemed price of $0.37 based on a five trading day volume weighted average price of the common shares of the Company trading on the TSX Venture Exchange). The Acquisition Shares are subject to resale restrictions for a period of four months from the closing date of the transaction and no finder’s fees are payable in connection with the transaction. Pan American has also agreed to provide notice to the Company of any proposed sale of the Acquisition Shares for one year and Brixton has the right to find a buyer. The completion of the acquisition of the Hog Heaven Project is expected to take place as soon as possible after customary closing conditions are met, including TSX Venture Exchange acceptance of the Acquisition Shares and the receipt by Pan American of the consent from a third party to the transfer of the Hog Heaven Project.

Chairman and CEO of Brixton, Gary R. Thompson stated, “The acquisition of the Hog Heaven Project past producing mine fits well with our strategy of acquiring gold-silver assets in Canada and the USA at reasonably low costs. We believe that based on historical records the potential is high for the discovery of new high grade silver zones with gold and base metals credits on the property. The initial work will be to compile and digitize the historical data and to develop a 3D model and drill targets. The next step would be a drilling campaign to extend the known silver-rich zones, identify new mineralized zones and convert the historic unclassified resource to meet CIM definitions for mineral resources.”

A historic silver and gold resource estimate exists for the Hog Heaven Project:

(1)  Based on a historical estimate for Hog Heaven prepared by Gregory Hahn, Chief Geological Engineer for CoCa Mines Inc., a previous owner of the property, in a report titled “Hog Heaven Project Optimization Study” dated May 1989, prior to implementation of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) (as disclosed in Pan American’s resource statement that was set out in a news release dated February 17, 2016) and based on diamond drilling. While Brixton considers these historical estimates to be relevant to investors as it may indicate the presence of mineralization, a QP for Brixton has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI 43-101 and Brixton is not treating these historical estimates as a current mineral resource.

In the Hog Heaven Project Optimization Study, the historic estimate was sub-categorized as follows:

About the Hog Heaven Project

The property is located in Flathead County, 55 miles south-southwest of the town of Kalispell, in the northwest portion of state of Montana, USA. The property is easily accessible by driving 10 miles of gravel road from the highway. The Hog Heaven mine historically (1929 – 1975) produced 6.4Moz Ag from 241,000 tons at an average grade of 26.6 troy ounces of Silver per ton and 0.46Moz Ag from 49,700 tons grading 9.35 troy ounces of Silver per ton. The ore was shipped directly to smelters. The mine was operated by Anaconda from 1929 to 1946 and by a lessee from 1963 to 1975.

Several silver, gold and base metal mineralized zones occur as breccia and veins hosted by permeable units of volcanoclastic rocks. The high-sulphidation mineralization is accompanied by silicification of the host rocks.  Silver is the metal of primary interest, although the gold and base metals are significant and could provide by-product revenues.

Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

Sources: Hog Heaven Mineral Property, Technical Evaluation Report, Robert J. Rodger, October 14, 1984; Hog Heaven Project Optimization Study Report, Gregory Hahn, Chief Geological Engineer for Coca Mines Inc., May 1989.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval for the issuance of the Acquisition Shares, historical unclassified resource estimates are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Brixton Metals Completes Acquisition of Past-Producing Hog Heaven Mine from Pan American Silver with Historical Estimate of 47.3 Million Ounces of Silver

0
0

July 18, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that, pursuant to an asset purchase and sale agreement with Pan American Silver Corp. (PAAS: NASDAQ; PAAS: TSX) (“Pan American“) announced on June 22, 2017, the Company has completed the acquisition of a 100 percent interest in the Hog Heaven project, a past-producing silver mine (“Hog Heaven Project”) in the State of Montana, subject to Pan American retaining a 3.0% net smelter returns royalty on the Hog Heaven Project (collectively, the “Transaction”).

Highlights:

  • Historical estimate of 47.3 million ounces of silver and 225,800 ounces of gold(1);
  • Past production by Anaconda Mining Company (“Anaconda”) (1929 – 1946) of 241,000 tons at an average grade of 26.6 troy ounces of silver per ton;
  • Additional past production of 49,700 tons, grading 9.35 troy ounces of silver per ton by a lessee from 1963 to 1975; and
  • Ore was shipped directly to smelters.

In connection with the closing of the Transaction, Brixton has issued $1 million in common shares of the Company (the “Acquisition Shares”) to Pan American. The Acquisition Shares are subject to resale restrictions for a period of four months from the closing date of the transaction and no finder’s fees were paid in connection with the transaction. Pan American has also agreed to provide notice to the Company of any proposed sale of the Acquisition Shares for one year and Brixton has the right to find a buyer.

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are excited to have this asset in Brixton and are looking forward to advancing the project and unlocking its potential. We welcome Pan American Silver as a significant shareholder of the Company”.

A historic silver and gold resource estimate exists for the Hog Heaven Project:

(1)  Based on a historical estimate for Hog Heaven prepared by Gregory Hahn, Chief Geological Engineer for CoCa Mines Inc., a previous owner of the property, in a report titled “Hog Heaven Project Optimization Study” dated May 1989, prior to implementation of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) (as disclosed in Pan American’s resource statement that was set out in a news release dated February 17, 2016) and based on diamond drilling. While Brixton considers these historical estimates to be relevant to investors as it may indicate the presence of mineralization, a QP for Brixton has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI 43-101 and Brixton is not treating these historical estimates as a current mineral resource.

In the Hog Heaven Project Optimization Study, the historic estimate was sub-categorized as follows:

About the Hog Heaven Project

The property is located in Flathead County, 55 miles south-southwest of the town of Kalispell, in the northwest portion of state of Montana, USA. The property is easily accessible by driving 10 miles of gravel road from the highway. The Hog Heaven mine historically (1929 – 1975) produced 241,000 tons at an average grade of 26.6 troy ounces of Silver per ton and 49,700 tons grading 9.35 troy ounces of Silver per ton. The ore was shipped directly to smelters. The mine was operated by Anaconda from 1929 to 1946 and by a lessee from 1963 to 1975.

Several silver, gold and base metal mineralized zones occur as breccia and veins hosted by permeable units of volcaniclastic rocks. The high-sulphidation mineralization is accompanied by silicification of the host rocks.  Silver is the metal of primary interest, although the gold and base metals are significant and could provide by-product revenues.

Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

Sources: Hog Heaven Mineral Property, Technical Evaluation Report, Robert J. Rodger, October 14, 1984; Hog Heaven Project Optimization Study Report, Gregory Hahn, Chief Geological Engineer for Coca Mines Inc., May 1989.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Brixton Metals Samples 16% Cobalt and 182,065 g/t Silver at Langis and Provides An Update On Its Projects

0
0

August 17, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce project updates for its projects located in both Ontario and British Columbia, Canada.

2017 Thorn Gold-Silver Project, British Columbia

Brixton completed ten NQ-sized core drill holes for a total of 2,455 metres at the Chivas Zone. Drilling at the Chivas Zone was designed to test the gold-in-soil anomaly identified in 2016. The gold-in-soil anomaly at the Chivas Zone covers a 7 square kilometre area and has corresponding chargeability anomalies from the 2016 Titan-24 DC/IP survey. In 2017 Brixton collected 517 soil and 56 rock samples throughout the property and completed two weeks of 1:2500 and 1:5000 scale geological and alteration mapping at the Chivas Zone. Aerial Lidar was conducted over a 210 square kilometre area. Brixton expanded its claim group from 996 square kilometres to 1,114 square kilometres.

Thorn Project 2017 drill results are pending at this time.

Thorn Project Soil Results

Using a 100 ppb cut off for the soil results, 69 samples are greater than 100 ppb Au, 44 samples are greater than 200 ppb, 28 samples are greater than 400 ppb, 12 are greater than 800 ppb with the two highest samples being 4,900 and 6,920 ppb Au.

Geological Mapping at the Chivas Zone Identifies a New Copper Trend at Thorn

Mapping was successful in identifying a 115m by 1200m open-ended corridor of copper mineralization with up to 1.14% Cu and 2.15 g/t Au from surface rock sampling. The best values from rock grab samples were 4.49 g/t Au, 4.38% Cu and 443 g/t Ag.

Mineralization is dominantly hosted by quartz-carbonate-py+/-galena-sphalerite-sulphosalt veins and polyphase breccias cutting Stuhini Group volcanic rocks and is interpreted as being related to an epithermal system transitional to a Cu-Au-Mo porphyry system.

Geology was mapped by Marcus van Wermeskerken, B.Sc., he stated “there is a fairly well developed zoning in both alteration and mineralization, centered on the main porphyry intrusion. Starting at the centre, there is a distinct trend along which a porphyry type mineralization exists as disseminated chalcopyrite, malachite, quartz stockwork zones with sericite. Outwards from this core, there is a zone of scattered polymetallic veins and fault breccias, hematite, chlorite, epidote and patchy potassic alteration. This alteration-mineralization was measured on one side of the cuprous corridor for 600 metres. This suggests there was a significant heat pump at the time of mineralization. This is only at the very apex of what could potentially be a much larger intrusion below. A significant amount of epithermal type mineralization (polymetallic veins, chalcedony veins-breccia and argillic alteration zones) was noted, which is typical in the periphery of porphyry systems, suggesting potential for a mineralized system below.”

A reconnaissance soil line in a new area 2.7 kilometres south from the southern end of the Chivas Zone returned  an anomalous copper-in-soils area with a single rock sample returning 4.38% Cu and 0.8 g/t Au (see map above).

About the Chivas Gold Zone (Thorn Project)

The Chivas Gold Zone was first identified in 2014 when the Company collected 16 soil samples along a break in slope where 12 of the 16 samples where anomalous (above 30 ppb Au) in gold with a high of 11,000 ppb Au was found. There was no previous work reported from this area of the property and this zone represents an important new mineralized target. The Chivas Zone is located about 3 kilometres southwest from the western edge of the sediment hosted Outlaw Gold Zone where hole 128 intersected 59.65m of 1.15 g/t Au, 5.64 g/t Ag, and about 4 kilometres south from the silver rich Oban Diatreme Zone where hole 60 intersected 95m of 628 g/t Ag and 1.71 g/t Au. Host lithology to mineralization at the Chivas Zone is Triassic Stuhini group mafic volcanics. The 7 square kilometre gold-in-soil anomaly and the IP chargeability anomaly clearly define an open-ended northwest trend. The red-line boundary (Triassic-Jurassic unconformity) was mapped about 800 metres west of the Chivas anomaly. According to Kyba and Nelson of the BCGS, most major deposits in northwestern BC, including KSM, Brucejack and Eskay Creek, occur within 2 km of this regional red-line marker, which implies major regional-scale faults as metal-rich fluid pathways.  Click to learn more about the Chivas Zone.

2017 Atlin Gold Project , British Columbia

Results from 26 rock samples returned a high of 24 g/t Au. Twelve of the 26 samples were greater that 0.1 g/t Au. The samples were collected in the vicinity of historic trenches on the LD claims; however, at the time of sampling the trenches were reclaimed and filled in. Brixton conducted an airborne magnetic survey of eight flight lines covering a total of 4,571 line kilometres of high resolution magnetic data.  The traverse lines were flown East-West at a spacing of 200 metres with control lines flown North-South at a separation of 2000 metres. Nominal terrain clearance was specified at 100 metres above ground. Compilation of historic data and interpretation of the airborne magnetic survey is ongoing. Maps showing the LD claims:

Historical work on the LD claims includes 330 g/t Au (mini-bulk sample), 1,615 g/t Au (rock grab sample) and 3m of 9.39 g/t Au (drill core). Brixton’s land package in the Atlin gold camp offers large target areas for exploration in search of Barkerville style or California style mother-lode gold deposits that may exist in prospective host rocks that are masked by overburden. Click to learn more about the Atlin Gold Project.

2017 Langis-Hudson Bay Ag-Co Project, Ontario

Historical data compilation continues for the Langis area. Following the acquisition of the Penna lands from Agnico at the Langis site, four rock grab samples from the Penna #7 shaft dump area were submitted for analysis. The table below provides details which returned up to 18% silver and 16% Cobalt. Samples contained abundant native silver.

The actual location or source of the sampled material is unknown; however, it was likely sourced from underground workings between the #7 and #6 shaft. The qualified person has not done sufficient work to verify the sample locations. The grab samples by nature are selective samples and do not represent grades throughout the property. Cobalt was analyzed using four acid digestion and the silver was analyzed by Fire Assay Fusion and Gravimetric Finish and since the samples exceeded the upper limit of 10,000 ppm the samples were treated as concentrate by ALS Minerals.

Brixton added 178 hectares of mineral title lands to its Langis Project. The one hundred percent interest was acquired from Mid-North Engineering Services Ltd for consideration of 150,000 common shares of Brixton and $5,000. The title is subject to a 1% NSR in favour of the vendor where Brixton holds the right to purchase 0.5% NSR for $250,000.

The Langis Project is drill ready with both brownfield and greenfield high-grade Ag-Co targets. Subject to available funding the Company plans to conduct additional drilling at its Langis and Hudson Bay Projects this fall and winter season. Click to learn more about the Langis Project.

Mr. Gary R. Thompson, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. The Company is actively seeking JV partners to advance one or more of it projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO

Tel: 604-630-9707 or email: info@brixtonmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Discovers Gold-Silver Mineralization at the Chivas Zone and Drills 6.45m of 4.86 g/t AuEq and 17.26m of 2.62 g/t AuEq

0
0

September 7, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce drill results from the first ever holes into the Chivas Zone at its wholly owned Thorn Project located in the northern extension of the Golden Triangle, British Columbia, Canada.

Highlights

  • Drilling discovers Au-Ag mineralization over a large area and remains wide open
  • Mineralization and alteration style appear to be porphyry related
  • This is the first round of drilling ever at the Chivas Zone
  • Hole 142 intersected 6.45m of 4.86 g/t AuEq within 18m 1.83 g/t AuEq
  • Hole 143 intersected 8m of 4.01 g/t AuEq within 11m of 2.96 g/t AuEq
  • Hole 144 intersected 17.26m of 2.62 g/t AuEq within 52.00m of 0.87 g/t AuEq
  • Surface mapping identifies a new open ended 1.2 km copper corridor which is yet to be drill tested and several gold targeted holes have increasing copper grades at depth

All of the 2,455m (10 holes) at the Chivas Zone were drilled within an area of 800m by 800m. The holes were designed to test the 7 square kilometre gold-in-soil and IP geophysical anomaly at the newly discovery Chivas zone.

General location map for Chivas Zone drilling:

THN17-142 intersected two mineralized zones, an upper zone from 40m depth of 21.00m of 0.46 g/t Au and 39.74 g/t Ag or 1.03 AuEq. The lower zone intersected 18.00m of 0.99 g/t Au, 19.46 g/t Ag, 0.66% Zn, 0.19% Pb or 1.83 g/t AuEq from 161.00m depth. Included in this lower interval was 6.45m of 4.86 g/t AuEq as 2.63 g/t Au, 45.15 g/t Ag, 1.5% Zn, 0.18% Cu, 0.42% Pb.

Chivas Hole 142 mineralization photos:

Drill collar location map: 

Cross section through hole 142:

THN17-143 intersected 11m of 2.96 AuEq starting at 59m depth as 0.54 g/t Au, 147.78 g/t Ag, 0.27% Zn, 0.25% Pb including 8m of 4.01 g/t AuEq as 0.71 g/t Au, 202.49 g/t Ag, 0.35% Zn, 0.34%Pb.

THN17-144 intersected 52m of 0.87 g/t AuEq as 0.31 g/t Au, 39.56 g/t Ag, including 17.26m of 2.62 g/t AuEq as 0.61 g/t Au, 110.27 g/t Ag, 0.36% Zn, 0.36 Pb.

THN17-145 intersected 1.15m of 5.25 AuEq as 5.15 g/t Au, 7.30 g/t Ag, within 9.80m of 0.93 g/t AuEq.

THN17-147 intersected 1.00m of 5.10 g/t AuEq as 5.08 g/t Au, 1.6 g/t Ag within 18.97m of 0.51 g/t AuEq.

Several drill holes have increasing copper grades down hole and THN17-149 intersected 39m of 0.11% Cu. THN17-148 was abandoned due to poor ground conditions.

Cross section:

Table of mineralized composites are summarized below:

All reported assays are uncut weighted averages. The true width of reported mineralization is unknown at this time. Gold Equivalent values (AuEq) were calculated using the formula AuEq = $1,200 x Au g/t ÷ 31.104 + $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $1 x % Pb ÷ 100 x 2204.63 + $1.20 x % Zn ÷ 100 x 2204.63/$1,200 x 31.104. This method assumes full metal recoveries as metallurgical work has not been conducted.

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are excited to have completed the first ever drill program at the new Chivas Zone. It appears that we are on margin of a large porphyry system at Chivas, and moreover, these results support our thinking that we have a mineralized system with district scale dimensions at the Thorn Project”. Thompson further stated, “A larger drill program with generally deeper holes will be required to properly test the potential of the Chivas discovery. The Thorn Property is largely underexplored with potential for both high grade and bulk tonnage precious metal targets”.

About the Chivas Gold Zone (Thorn Project)

The Chivas Zone is defined as an open-ended northwest – southeast 3 kilometre mineralized trend based on a 7-square kilometre gold-copper-in-soil anomaly and the coincident strong IP chargeability anomaly. The Chivas gold anomaly was first identified in 2014 when the Company collected 16 soil samples along a break in slope over 600m where 12 of the 16 samples where anomalous, above 30 ppb Au with a high of 11,000 ppb Au. There was no previous work reported from this area of the property. This zone represents an important new mineralized target and is part of a district scale system at the Thorn project. Mineralization is hosted by quartz-carbonate-pyrite, galena-sphalerite-sulphosalts veins, polyphase and/or hydrothermal breccias and fault zones within Stuhini Group volcanic rocks and is interpreted as being peripheral to a Au-Ag-Cu-Mo porphyry system. The Chivas Zone is located about 3 kilometres southwest from the western edge of the sediment hosted Outlaw Gold Zone where hole 128 intersected 59.65m of 1.15 g/t Au, 5.64 g/t Ag, and about 3 kilometres south from the Oban Diatreme Breccia Zone where hole 60 intersected 95m of 628 g/t Ag and 1.71 g/t Au, 3.31% Pb, 2.39% Zn, 0.12% Cu. The red-line boundary (Triassic-Jurassic unconformity) was mapped about 800 metres west of the Chivas anomaly. According to Kyba and Nelson of the BCGS, most major deposits in northwestern BC, including KSM, Brucejack and Eskay Creek, occur within 2 km of this regional red-line marker, which implies major regional-scale structures as metal-rich fluid pathways.

Please click to learn more about the Chivas Zone.

Quality Assurance & Quality Control

Ms. Caroline Vallat, P.Geo., from GeoSpark Consulting Inc. conducted an independent QAQC review which returned overall strong accuracy and precision of the analytical results. Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Whitehorse, Yukon. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Silver and base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About The Thorn Project

Brixton’s wholly owned 1,114 square kilometre Thorn Project is located in Northwest British Columbia approximately 90 kilometres ENE from Juneau, Alaska. The southern limit of the Thorn claim boundary is about 65 kilometre from tide water. Geology at Thorn Project hosts a district scale Triassic to Eocene volcano-plutonic complex with several styles and episodes of mineralization related to porphyry and epithermal environments. Targets include sediment hosted gold-silver (Outlaw Zone), silver-gold-lead-zinc-bearing diatreme-breccia (Oban Zone), high-grade high-sulphidation gold-silver-copper veins (Glenfiddich, Talisker and others and porphyry copper-gold-silver-molybdenum potential Chivas and (Oban at depth). In 2013, Brixton entered into an Exploration Agreement with the Taku River Tlingit First Nations. Please see find further project information on the Company’s website, http://brixtonmetals.com/properties/thorn-project/

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Announces Private Placement of up to $3 Million

0
0

September 15, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) announces a non-brokered private placement of up to $3.0 million (the “Private Placement”). The Private Placement will consist of units (“Units”) to be issued at a price of $0.32 per Unit with each Unit consisting of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable by the holder into one common share of the Company at a price of $0.48 per share for a period of 36 months.

The proceeds from the Private Placement will advance the Company’s Hog Heaven project and be used for general working capital. All securities issued pursuant to this Private Placement will be subject to a four month hold period. The Private Placement is subject to acceptance by the TSX Venture Exchange (the “Exchange”) and the Company may pay a finders’ fee in respect of certain subscribers under the Private Placement in accordance with policies of the Exchange.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.comNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, the anticipated closing of the Private Placement, Exchange approval, the proposed use of proceeds from the Private Placement, the exploration potential of the Hog Heaven property based on historical information, resources estimates on the Thorn Project are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Brixton Metals Closes Financing and Provides Update on its Hog Heaven Ag-Au Project

0
0

October 18, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has closed its previously announced private placement of units for aggregate gross proceeds of approximately $1,674,252 (the “Private Placement”). The Company intends to use the net proceeds to advance the Company’s Hog Heaven Project, a past-producing mine (“Hog Heaven Project”) and for general working capital.

The Private Placement consisted of the issuance of 5,232,036 units (“Units”) at a price of $0.32 per Unit.  Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant a “Warrant”) with each Warrant exercisable by the holder into one common share of the Company at a price of $0.48 per share for a period of 36 months from the closing date. On closing finders were paid a commission comprised of a cash fee in the amount of $101,223.64 and issued an aggregate of 158,162 finder’s warrants.  Each Finder’s warrant is exercisable to acquire one common share of the Company at a price of $0.32 for a period of 36 months from closing of the Private Placement.

All securities issued under the Private Placement, including the securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the closing date.

The Company has completed only a preliminary review of recently acquired data on its wholly owned the Hog Heaven Project.

The preliminary work to date consists of reviewing historical drilling and assay results of only 10% or about 70 of the 701 drill holes on the property. A wealth of information as paper reports, maps, sections, geological and geophysical surveys and metallurgical studies remain to be compiled, digitized and modelled. The Company plans to release updates on the historical data review as they become available.

Highlights from the 70 holes so far reviewed:

  • Hole AFR-79-5 intersected 12.19m of 1,088.36 g/t Ag, 5.97 g/t Au and 6.58 % Cu within an interval of 28.96m of 481.08 g/t Ag, 3.22 g/t Au and 2.83 % Cu (see Table below).
  • Hole AFR-80-9 intersected 111.25m of 196.11 g/t Ag and 0.86 g/t Au, including 59.44m of 245.32 m Ag and 1.08 g/t Au.
  • Hole AFR-81-38A intersected 9.14m of 1,230.34 g/t Ag and 4.74 g/t Au within 51.82m of 420.42 g/t Ag and 1.70 g/t Au.
  • Hole AFR-81-8 intersected 12.19m of 4.92 g/t Au, 494.36 g/t Ag within a broader interval of 56.39m of 2.15 g/t Au, 249.50 g/t Ag.

The Company has submitted an initial drill plan to Montana Department of Environmental Quality for confirmation drilling to be conducted as soon as possible, weather permitting.

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are still in the early days of our digitization of the historic data for the Hog Heaven Project but are encouraged by the number of high grade intercepts we have encountered thus far. We only recently received over 57 boxes of paper data from work completed prior to 1996. Our goal upon completion of the data review and digitization of drill hole data is to conduct confirmation drilling with a focus on verifying the historic data via twinning with sufficient drilling as may be required to provide a maiden NI-43-101 resource estimate for the project”.

A table of the highlights from the historic assays reviewed to date:

Note: The Qualified Person (“QP”) for Brixton cannot verify the drill results reported in the table above or the other technical information set out in this news release. The precise location of the drill cores from the program is presently unknown and they have not been inspected by the QP, and therefore Brixton has not undertaken any re-logging, resampling or check assays; however, Brixton has no reason to doubt the results and considers the results relevant and suitable for disclosure. Data from the above drill results are historical results and cannot be verified with assay sheets, so it is unknown what type of quality-control programs were performed at the time. The QP also advises that true width of the above results cannot be determined at this time.

Cross Sections:

About the Hog Heaven Project

The property is located in Flathead County, 55 miles south-southwest of the town of Kalispell, in the northwest portion of state of Montana, USA. The property is easily accessible by driving 10 miles of gravel road from a highway. The Hog Heaven mine historically (1929 – 1975) produced 241,000 tons at an average grade of 26.6 troy ounces of Silver per ton and 49,700 tons grading 9.35 troy ounces of Silver per ton. The ore was shipped directly to smelters. The mine was operated by Anaconda from 1929 to 1946 and by a lessee from 1963 to 1975.

Several silver, gold and base metal mineralized zones occur as breccia and veins hosted by permeable units of volcaniclastic rocks. The high-sulphidation mineralization is accompanied by silicification of the host rocks.  Silver is the metal of primary interest, although the gold and base metals are significant and could provide by-product revenues. The vertical zonation of the mineralization at the Main Mine shows an increase in pyrite grain size, copper and gold content with depth, which suggests the presence of a porphyry system at depth.

Sources: Hog Heaven Mineral Property, Technical Evaluation Report, Robert J. Rodger, October 14, 1984; Hog Heaven Project Optimization Study Report, Gregory Hahn, Chief Geological Engineer for Coca Mines Inc., May 1989; Hog Heaven project, Geology of the Main Mine and Ole Hill, David C. Johnson, CoCa Mines Inc., December 1, 1983.

Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

Please click to learn more about the Hog Heaven Project.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations:
Mitchell Smith
Tel: 604-630-9707 or email: mitchell.smith@brixtonmetals.com

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.


Brixton Metals Samples 293 g/t Au and 88 g/t Au from its Atlin Project

0
0

November 8, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has completed exploration work on its wholly owned Atlin Gold Project near Atlin, BC. The 2017 field season concluded with a total of 200 rock samples and 120 soil samples collected within the 557 square kilometre property. In addition, 4,571 line kilometres of airborne magnetic survey was flown as 8 flight lines with 200m spacing.

Highlights

  • Boulders sampled on the LD showing returned up to 293 g/t Au and 88 g/t Au
  • An intrusion-related gold deposit signature was identified by anomalous Bi, W, Sn +/- Ag, As, Sb, Pb and Zn associated with the Surprise Lake Batholith
  • Delineated numerous magnetic highs and lineaments on the property

Gold values for the 200 rock samples collected returned up to 293 g/t. One sample returned Au values greater than 100 g/t, 6 greater than 10 g/t, 8 greater than 1g/t, 13 greater than 0.4 g/t, 29 greater than 0.1 g/t and 48 greater than 0.03 g/t. The most notable rock samples collected in 2017 were obtained from the LD showing and included: sample J953672 returned 293 g/t Au and 26.5 g/t Ag; sample J953673 returned 88.10 g/t Au and sample J953666 returned 25 g/t Au. All rock samples listed above were comprised of vuggy, quartz vein-iron oxide fragments observed in the vicinity of the historic Standard Gold Mines trenches. The table below highlights the 2017 rock samples and gold values:

Location Map of Rock Samples for 2017:

Soil samples (1999169-197 and 1999252-282) collected from areas proximal to Terrahina Creek exhibit a trace element signature characteristic of intrusion-related gold deposits: Bi, W, Sn +/- Ag, As, Sb, Pb and Zn. Rock samples collected in this area exhibit the same overall signature and consist of quartz-veined argillite and cherty-argillite of the Kedahda Formation, and aplite and fine-to-medium grained monzonite of the Surprise Lake Batholith. Gold geochemical values for the 120 soil samples collected in 2017 ranged up to 520 ppb. The best result was obtained from soil sample 1999154, collected at the LD showing area. One soil sample yielded values greater than 400 ppb, two greater than 100 ppb and six greater than 30 ppb.

Location Maps of Soil Samples for 2017:

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are excited about these very high-grade gold results and the broad scale intrusion related signature, suggesting great potential for a major, new hard rock gold discovery within the productive Atlin gold camp.”

Ongoing work with UBC Mineral Deposit Research Unit includes identification of target areas with potential for structurally controlled gold and intrusion-related gold, incorporating currently available data:

  • Interpretation of the Brixton property geology in the regional context;
  • Desktop analysis of structural data in the context of possible controls on fractures/veins;
  • Identification of geophysical features and interpretation of their possible or likely geologic meaning;
  • Identification of target areas with potential for mineralization, incorporating available geophysical, geological +/- geochemical information.

Recommendations

Further exploration work at the Atlin Gold Project is recommended and should include the following:

  • Detailed geologic and alteration mapping in order to constrain the alteration assemblages and lithological compositions associated with orogenic and intrusion-related gold, as well as detailed structural mapping and analysis, to further investigate the structural and lithological constraints on mineralization;
  • Trenching of the LD Property as a means to further investigate the significant gold in rock trend delineated in this area;
  • Drilling of the LD Property consisting of approximately 10 NQ sized diamond drill holes totalling 2,000 meters;
  • Property-wide geochemical studies (soils, rock, whole rock) in order to further test the mineralization potential for intrusion related gold deposits.

About the Atlin Gold Project

The wholly owned 557 square kilometer Atlin project is located in Northwest British Columbia east from the town of Atlin.  The property is easily accessible by road and helicopter. The Atlin placer camp covers an area of 50km by 50km where placer gold is found in most of the drainages. Spruce Creek, within the Atlin gold camp, holds the provincial record for the largest gold nugget, weighing 2.6 kilograms (85 ounces – BCGS Paper 2017-1, p.179-193) and arguably one of the largest in Canada. However, only limited gold hard rock source of the gold has been identified. Targets on the property include both structurally controlled bonanza grade gold veins and large scale intrusion related gold targets. Many of the creeks on Brixton’s claims have seen historic placer production. The most extensive hard rock exploration work to date on Brixton’s claims has been on the LD property, which includes soil sampling, geophysical surveys, trenching, chip sampling, bulk sampling and drilling. Highlights from historical work on the LD property include: 330 g/t Au from a mini-bulk sample (ARIS 11511), and 3m of 9.39 g/t Au from drill core (ARIS 13269).

Brixton’s extensive land position covers both Surprise Lake batholith and favourable sedimentary rocks of the Cache Creek terrane. The Company’s plan is to conduct property scale exploration work to generate drill targets.

In 2016 the discovery of coarse gold veins in graphitic phyllite of the Cache Creek Terrane in Otter Creek, beneath active placer workings, confirmed a new local source for the typically coarse placer gold. The reference report “A new lode gold discovery at Otter Creek: Another source for the Atlin placers” can be found at the following link:

http://www.empr.gov.bc.ca/Mining/Geoscience/PublicationsCatalogue/Fieldwork/Documents/2016/10_Mihalynuk_%20et_al.pdf

Abstract of the above referenced report:
Primary exploration targets for lode gold near Atlin, northwestern British Columbia have historically been quartz-carbonate-mariposite altered (‘listwanite’) ultramafic and mafic bedrocks. These have long been considered the source of nearby placer deposits, and locally do contain fine visible gold. However, despite more than a century of searching, coarse gold such as found in the placer gravels has never been discovered. This has prompted the belief that the ‘listwanites’ are mere erosional remnants of bedrock sources of the coarse placer gold, and that these sources have been almost entirely lost to erosion. An alternative hypothesis argues that, although gold is found with listwanite, it was not the only bedrock source. Streams with placer deposits are distributed around the evolved Surprise Lake batholith (Sn-U-Th-Mo-W-F rich) and rare gold nuggets contain Sn- and Th-rich mineral intergrowths (cassiterite and thorite), demonstrating that at least some of the placer gold may be related to the batholith. Discovery of coarse lode gold (>5 mm) in graphitic and quartz-rich phyllitic bedrock beneath placer deposits along Otter Creek in 2016 confirms that listwanite-altered mafic and ultramafic rocks are not required for lode gold mineralization. At the discovery site, native gold is intergrown with quartz-albite veins and occurs as open space fillings. Rutile in quartz veins, and perhaps altered titanite in the adjacent phyllite may have grown along with gold deposition. Geochemical analysis of pyrite-rich phyllite adjacent to the gold veins yields no appreciable gold, but is slightly elevated in Cu (11-54 ppm), Pb (~33 ppm) and zinc (60-70 ppm). These results are consistent with petrographic observations that show abundant chalcopyrite inclusions but no gold inclusions in pyrite. Discovery of coarse gold in quartz veins cutting graphitic and quartz-rich phyllitic country rocks significantly expands the lode gold exploration target in the Atlin placer camp.”
Mihalynuk, M.G., Zagorevski, A., Devine, F.A.M., and Humphrey, E., 2017. A new lode gold discovery at Otter Creek: Another source for the Atlin placers. In: Geological Fieldwork 2016, British Columbia Ministry of Energy and Mines, British Columbia, Geological Survey Paper 2017-1, pp. 179-193.

More information about Brixton’s Atlin Gold Project can be found at: www.brixtonmetals.com/properties/atlin-gold-project/

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada, have generated excellent results to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis and Hudson Bay mines produced at 25 and 123 opt silver, respectively.  The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations, please contact Mitchell Smith: mitchell.smith@brixtonmetals.com or 604-630-9707.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Closes $1.5M for Drilling Its Silver – Cobalt Project in Ontario

0
0

December 7, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has closed a Flow-Through (“FT”) financing by issuing 6,313,000 FT shares at a price of $0.25 per FT share for gross proceeds of $1,578,250. Certain finders’ commissions payable are comprised of a cash fee in the aggregate of $108,937.50 and an aggregate of 435,750 finder’s warrants in connection with the financing. Each finder’s warrant is exercisable to acquire one common share of the Company at a price of $0.25 for a period of 24 months from the closing of the FT share financing.  Insiders subscribed for $22,000 of the financing.

Proceeds from the FT financing shall be used for exploration on the Company’s wholly owned silver-cobalt properties in the Cobalt Camp of Ontario, Canada.

The FT shares will be “flow-through” shares pursuant to the Income Tax Act (Canada).  All securities issued under the FT financing, including the securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the closing date.

Target Highlights

  • Historically the Langis Mine produced 0.36M pounds of cobalt and 10.4Moz silver
  • Historically the Hudson Bay Mine produced 0.186M pounds of cobalt and 6.4Moz of silver
  • Assays from 4 samples in 2017 returned 10 to 16 percent cobalt and 2 to 18 percent silver as disclosed in Brixton’s News Release dated August 17, 2017
  • Past production was focused on high grade silver veins and the high-cobalt low-silver veins that were encountered underground and were not mined in many areas of the Langis mine
  • The project has excellent local infrastructure; year round road access, close proximity to power, railway, gas‐pipeline, small scale mills, a refinery and assay lab
  • Drilling will focus on testing both high grade cobalt and silver targets

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are excited to get drilling on our Langis and Hudson Bay projects. We understand that the underground miners were chasing 100 oz/t silver veins and when they encountered the high-grade cobalt veins with less than 5 oz/t silver they generally moved on in search of high-grade silver veins. We see significant upside potential in the area for two vein types, high-grade cobalt with low silver and high-grade cobalt with high silver tenor.”

About the Langis and Hudson Bay Silver – Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500 km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase. The Cobalt camp historically produced over 500 million ounces of silver and 50 million pounds of cobalt. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M oz of silver production.

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada and lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada.  The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO

Tel: 604-630-9707 or email: info@brixtonmetals.com

 

For Investor Relations, please contact Mitchell Smith: mitchell.smith@brixtonmetals.com or 604-630-9707.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Closes Second Tranche of Private Placement for Aggregate Proceeds of $3 Million for Drilling its Cobalt Projects

0
0

December 29, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has closed the second tranche of its private placement of flow-through shares for gross proceeds of $1,420,750 (the “Private Placement”). The Private Placement consisted of the issuance of 5,692,000 flow-through shares (“FT Shares”) at a price of $0.25 per FT Share.  Certain finders (the “Finders”) were paid commissions comprised of a cash fee in the aggregate amount of $99,610 and were issued an aggregate of 398,440 finder’s warrants in connection with the Private Placement.  Each Finder’s warrant is exercisable to acquire one common share of the Company at a price of $0.25 for a period of 24 months from closing of the Private Placement.

The Company intends to use the gross proceeds from the first tranche (which closed on December 7, 2017) and this closing in the aggregate amount of $3 million to advance the Company’s wholly-owned Cobalt properties in the Cobalt Camp of Ontario, Canada and its other Canadian properties.

The FT Shares will be “flow-through” shares pursuant to the Income Tax Act (Canada).  All securities issued under the Private Placement, including the securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the closing date.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & developing company with assets in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn” at the northern extent of the Golden Triangle and “Atlin” gold camp in British Columbia, Canada. Lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay brownfield projects with excellent infrastructure located in Ontario, Canada.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707
info@brixtonmetals.com
brixtonmetals.com

For Investor Relations, please contact Mitchell Smith: mitchell.smith@brixtonmetals.com or 604-630-9707.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that the use of proceeds, address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, the proposed use of proceeds from the Private Placement are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Mobilizes Crews for Drilling on its Cobalt Targets in Ontario

0
0

January 9, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that, following the completion of its $3 million private placement, the Company has commenced drilling at its Langis and Hudson Bay projects located in the Cobalt Camp of Ontario, Canada. Drilling is currently underway and is focusing on high grade cobalt and silver targets as extension of the underground workings and newly identified structural targets.  The Company is planning to drill 10,000 to 15,000 metres on the two brownfield mine projects combined.

Target Highlights

  • Historically the Langis Mine produced 0.36M pounds of cobalt and 10.4Moz silver to depths of 150 metres;
  • Historically the Hudson Bay Mine produced 0.186M pounds of cobalt and 6.4Moz of silver to depths of only 60 metres;
  • Assays from 4 samples in 2017 returned 10 to 16 percent cobalt and 2 to 18 percent silver as disclosed in Brixton’s News Release dated August 17, 2017;
  • Past production was focused on high grade silver veins and the high-cobalt low-silver veins that were encountered underground and were not mined in many areas of the Langis mine;
  • The project has excellent local infrastructure; year-round road access, close proximity to power, railway, gas‐pipeline, small scale mills, a refinery and assay lab.

Chairman and CEO of Brixton, Gary R. Thompson stated, “We believe that these high potential brownfield projects provide a very interesting opportunity for shareholders of Brixton to benefit from the strong demand for battery metals. The Company anticipates a good amount of news flow in the coming months from its activities.”

About the Langis and Hudson Bay Silver – Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M oz of silver production and including nickel and copper by-products.

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

The Company granted 2,015,000 incentive stock options to directors, employees and consultants to the Company under the Company’s stock option plan at exercise price of $0.30. The term of the options is 10 years and all options vest immediately.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada and lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada.  The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations, please contact Mitchell Smith: mitchell.smith@brixtonmetals.com or 604-630-9707.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the amount of drilling to be completed and the exploration potential of the property based on resources estimates and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Provides Update on its Hog Heaven Silver-Gold Project

0
0

January 15, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to provide an update on its Hog Heaven project data review and project development plans.

Highlights from the 722 holes historically drilled:

  • The Hog Heaven project represents a high-grade Ag-Au-Cu-Pb-Zn underground opportunity where gold and base metals add significant value on a silver equivalent basis
  • Hole AFR-79-5 returned 12.19m of 1,089 g/t Ag and/or 2,330 g/t AgEq for 114 percent increase when gold, copper, lead and zinc values are included as silver equivalent
  • Hole AFR-81-8 returned 54.86m of 254 g/t Ag and 411 g/t AgEq for a 62 percent increase when gold is included as silver equivalent and there is no assay data for copper, lead or zinc
  • Analysis of the intervals that were not assayed for base metals may provide additional metal value
  • Notable intercepts are 53.34m of 643 g/t AgEq including 9.15m of 2,226 g/t AgEq in Hole AFR-81-38A and 18.29m of 1,623 g/t AgEq from 106.68m including 9.15m of 2,951 g/t AgEq in Hole AFR-79-5

Table of Silver, Silver Equivalent and Grams x Metres Comparison:

*Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t ÷ 31.104 + $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $1 x % Pb ÷ 100 x 2204.63 + $1.20 x % Zn ÷ 100 x 2204.63/$17 x 31.104. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb.  ** These intercepts have incomplete assay data for Cu, Pb and Zn. True widths cannot be verified at this time.

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are discovering that the Hog Heaven project is a real gem as we dig into the historic data and are very encouraged by the degree of high grade intercepts we have encountered thus far. One of the holes ended in 3 percent copper at about 300m depth. In addition to the treasure trove of drill data, many precious and base metal targets as both near surface and feeder zone or root zone type targets have yet to be drill tested. Re-logging and sampling of select historic holes and geophysical surveys are planned over the winter months to gear up for drilling in the spring”.

Drilling Data: Brixton has completed the assay data entry and half of the drill log data entry for the Hog Heaven project. Total metres historically drilled on the project is 57,498m from 722 drill holes as rotary, reverse circulation and diamond drill core. Interestingly, while all of the holes were assayed for silver and most of intervals were assayed for gold with the exception of one hole, 68 percent of the intervals were not assayed for copper and 34 percent of the intervals were not assayed for zinc and lead.

The Plan and Long Section Maps at the links below plot the two mineralized zones where most of the drilling has been conducted, the Main mine zone and the Ole Hill zone. Generally, drill depth is fairly shallow and only a few deeper holes were drilled at the Main zone. At the Main mine 40,775m have been drilled with an average drill hole depth of 121m with the deepest hole to 509m. The total number of drill holes at the Ole Hill zone is 380 with an average depth of 43m with the deepest hole to 583m for a total of 16,456m of drilling. Mineralization remains open in several directions and at depth. Most of the drilling was completed as vertical holes to define the near surface mineralization. Hole AOR-81-86  at the Ole Hill zone intersected 3.05m of 400 g/t Ag or 481 g/t AgEq within 13.72m of 167 g/t Ag or 205 g/t AgEq from surface.

Plan map:

Silver Intervals versus Silver Equivalent Intervals Long Section Main Mine Area:A table of the highlights from the historic assays of silver verses silver equivalent from 722 holes reviewed to date:

Note: The Qualified Person (“QP”) for Brixton cannot verify the drill results reported in the tables above or the other technical information set out in this news release. The precise location of the drill cores from the program is presently unknown and they have not been inspected by the QP, and therefore Brixton has not undertaken any re-logging, resampling or check assays; however, Brixton has no reason to doubt the results and considers the results relevant and suitable for disclosure. Data from the above drill results are historical results and it is unknown what type of quality-control programs were performed at the time. The QP also advises that true width of the above results cannot be determined at this time.

*Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t ÷ 31.104 + $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $1 x % Pb ÷ 100 x 2204.63 + $1.20 x % Zn ÷ 100 x 2204.63/$17 x 31.104. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb.   ** These intercepts have incomplete assay data for Cu, Pb and Zn

Geology Summary: The Hog Heaven Project is located in a field of Oligocene (30.8 – 36 Ma) volcanic and volcano-sedimentary rocks knows as the Hog Heaven volcanic field. The volcanic rocks consist of high potassium dacite-rhyolite flow domes and dykes, ash flow deposits and volcaniclastic rocks. These rock types intrude or unconformably overlie a basement of Late Proterozoic Belt Supergroup strata.  The volcanic suite is comprised of a flat to gently inclined volcanic sequence, including a basal ashflow tuff unit, pyroclastic and epiclastic rocks, intrusive and extrusive dacite porphyry, diatremes and a late trachyandesite flow.

Dome and dyke emplacement as well as Ag-Au-Cu-Pb-Zn mineralization was controlled by north-northwest, northeast and northwest-trending extensional faults and fractures. Mineralization is also localized by permeability contrasts, such as the steep, north-trending diatreme breccia-dacite porphyry contacts, within flat-lying permeable pyroclastic and epiclastic units and along the contact between Belt strata and overlying volcanic rocks. Highest grades occur within zones of intense silicification and acid leaching.  Mineralization styles include breccia-hosted, replacement, veins and stockworks as well as open-space fill.  There is a strong vertical and lateral metal zonation with increasing Au-Cu grades at depth. Within flat-lying ore bodies, a core of Ag +/- Au is haloed by Pb and Zn +/- Cu.

Alteration is characterized by acid-sulphate, with widespread argillic and advanced argillic alteration and vuggy to massive silicification.

Mineral deposits at the Hog Heaven project are classified as Ag-rich high sulphidation type.Geology map and mineralized zones of interest:Geophysical Surveys: Historical ground magnetics, VLF-EM, IP and gravity surveys were completed and the company is in the process of digitizing and reprocessing of these data sets. Planned work includes a deep IP-resistivity and LIDAR survey. The magnetics-VLF-EM and LIDAR survey are expected to help identify structures that may control mineralization and vector new zones of mineralization. The IP geophysical survey should image the known sulphide and siliceous resistive zones and potential expansion area drill testing.

Planned Drilling: The focus for the initial 10 holes planned for the spring of 2018 shall be to twin-and confirm some of the previous drilling and to test the high-grade feeder zones to the west of the Main mine zone and south of the Ole Hill zone. Phase two drilling will focus on expanding the known mineralized zones, infilling areas of sparser drilling and testing some of the nearby compelling targets. Additional holes will test newly generated targets.

Quality Assurance Quality Control: Brixton has completed assay data entry for all of the drill holes and has developed the first 3d model for the project. The Company plans to collect and submit the previously drilled intervals that were not assay for base metals and analyze for the full suite of elements. In addition a select number of check assays will be analysed for comparative purposes according to industry standards. Ongoing work includes completion of the drill log data entry and a re-logging campaign of select cored intervals is planned. Brixton is also working with a qualified engineering firm to convert the mine grid based historical drill data to Universal Transverse Mercator (UTM) coordinate system.

Permitting: The Company has submitted an initial drill plan to Montana Department of Environmental Quality. Brixton has posted reclamation bonds in the amount of USD$120,000 for its planned exploration drilling and for the transfer of the existing Operating Permit (inactive) from the previous operator.

Resource Estimates: The Hog Heaven project does not have a NI-43-101 compliant resource estimate. The first significant milestone for the Company will be to establish a maiden resource on the project. The Company shall engage one or more Qualified Person’s as defined by the NI-43-101 to author a report when it believes it has completed enough work to provide a resource statement with enough material to generate a positive preliminary economic assessment report.

Other Exploration Targets: In addition to the Main mine and Ole Hill targets, nineteen historic adits and workings have been identified within the area (see geology map at link above). Two of the prospects occur at the contact between the Tertiary intrusive and volcaniclastic rocks, similar to the Main mine. Three of the prospects occur in the Late Proterozoic Belt Supergroup rocks which Mauk (1983) believed to be part of the Revett Formation of the Ravalli Group.Three large gold-silver-in-soil geochemical anomalies have been identified by previous operators.  Two of these remain to be drill-tested and the third has only been tested locally.The northern soil anomaly is located about 1.3 km north of the Main mine area and is underlain by Tertiary volcaniclastic rocks. The southern soil anomaly is located about 1.7km SW of the Main mine area and is located near the contact between Tertiary intrusive and volcaniclastic rocks. The Central soil anomaly is located 200m NE from the Ole Hill area and is underlain by Tertiary intrusive rocks and volcanic flows which also have a corresponding geophysical target. Eight geophysical targets have also been identified within an area of 3km by 1.5km. These targets have been defined primarily by magnetic lows occurring along the margins of gravity lows, where one of the targets cover the Main mine area.These targets have a northwest trend coincident with the orientation of a northwest trending interpreted graben structure, thought to control the emplacement of dome complexes and mineralization.

Metallurgical Work: The Company is planning to undertake additional work in order to confirm and expand on the historical metallurgical studies conducted at the Hog Heaven project by the previous operators. During the phase 2 exploration program, two holes for metallurgical studies are planned.

Artificial Intelligence (AI) and Machine Learning: Brixton is adopting AI and machine learning as part of its ongoing exploration efforts to more rapidly and efficiently advance its exploration projects. We anticipate that by utilizing these platforms we can mitigate exploration and development risk and build confidence in our targets and increase our chances of success while reducing costs.  To that effect, the Company is planning to work with a number of highly regarded consultants to fully integrate the wealth of geophysical, geological, geochemical and drilling information available for the Hog Heaven project.

About the Hog Heaven Project

The property is located in Flathead County, 55 miles south-southwest of the town of Kalispell, in the northwest portion of the state of Montana, USA. The property is easily accessible by driving 10 miles of gravel road from a highway. The Hog Heaven mine historically (1928 – 1975) produced 6.7M oz Ag at an average grade of 29 troy ounces of Ag per ton, 3,000 oz Au, 23M lbs Pb, 0.6M lbs Cu from 230,000 tons and an additional 49,700 tons grading 9.35 troy ounces of Ag per ton. The ore was shipped directly to smelters. The mine was operated by Anaconda from 1929 to 1946 and by a lessee from 1963 to 1975.

Several silver, gold and base metal mineralized zones occur as breccia and veins hosted by permeable units of volcaniclastic rocks. The high-sulphidation mineralization is accompanied by silicification of the host rocks.  Silver is the metal of primary interest, although the gold and base metals are significant and may provide by-product revenues. The vertical zonation of the mineralization at the Main mine shows an increase in pyrite grain size, copper and gold content with depth suggesting the presence of a porphyry system at depth. Since the production periods at least 722 drill holes for 57,498m meters have been drilled. Currently, the Hog Heaven project does not host a NI-43-101 compliant resource estimate as defined by the CIM Definition Standards for Mineral Resources and Mineral Reserves.

Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

Please see our website link to the Hog Heaven Project.

About Brixton Metals Corporation Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor relations please contact at mitchell.smith@brixtonmetals.com or 604-630-9707

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Drills 1% Cobalt, 0.95% Copper, 0.72% Nickel, 11.1 g/t Silver over 0.8 metres at its Hudson Bay Project in the Cobalt Camp, Ontario

0
0

February 20, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce initial drill results from its wholly owned Hudson Bay Project located in the Cobalt Camp, Ontario.

Highlights from the first three holes drilled

  • Drill hole HB18-01 intersected 1.00% Co, 11.10 g/t Ag, 0.95% Cu and 0.72% Ni or 1.25% CoEq over 0.80 metres from 52.20m depth
  • Drill hole HB18-03 intersected 0.28% Co (0.34% CoEq) over 1.83 metres from 53.17m depth

A summary table of assay results from the first three holes:

*Cobalt Equivalent values (CoEq) were calculated using the formula CoEq = $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $28 x % Co ÷ 100 x 2204.63 + $5.50 x % Ni ÷ 100 x 2204.63 ÷ $28 ÷ 2204.63*100. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $3 per pound for Cu, $5.5 per pound for Ni and $28 per pound for Co. The true width of the veins has not been determined at this time.

Chairman and CEO of Brixton, Gary R. Thompson stated, “This drill program is our first cobalt targeted campaign and we are encouraged by these initial results. The Hudson Bay Mine was a high-grade silver mine with cobalt produced as a by-product. These early drill results confirm the presence of high cobalt, low silver veins in the area. We are excited to continue our drilling in the Cobalt Camp for both high-grade cobalt and silver.”

To date, the Company has drilled approximately 1,500 metres at Hudson Bay. Drilling was designed to test possible extensions of the previously mined cobalt and silver mineralization. The first three holes have been successful in identifying cobalt and silver mineralization.

The assay results disclosed in this news release represent assays received for the first three holes (489 metres) with the rest of the assays (seven holes) pending.

Hole HB18-01 intersected 1.00% Co, 11.10 g/t Ag, 0.72% Ni and 0.95% Cu over 0.80 metres from 52.20 meters. The hole was drilled to a total depth of 177 metres (Azimuth: 1900, DIP: -400). Mineralization generally consists of cobalt and nickel minerals as disseminated, veinlets to centimetres wide veins and is hosted in locally brecciated and chloritized cherty mafic-intermediate pillows (Archean Volcanics). Locally, pyrite, chalcopyrite and sphalerite are also present.

Hole HB18-02 returned 13.00 metres of 16.20 g/t Ag starting at 18.00 metres. The hole was drilled to a depth of 120 metres (Azimuth: 1650, DIP: -390). Mineralization consists mainly of silver minerals with elevated cobalt values of up to 804 ppm (0.08%) and is hosted by the Huronian conglomerate sedimentary unit.

Hole HB18-03 returned 0.28% Co, 8.30 g/t Ag, 0.15% Ni and 0.18% Cu over 1.83 metres starting at 53.17 metres. The hole was drilled to a total depth of 192 metres (Azimuth: 1850, DIP: -380). The hole was designed to test the extension on strike of the cobalt mineralization intersected in Hole 01. The cobalt mineralization is hosted in locally brecciated and chloritized cherty mafic-intermediate volcanic pillows and consists of disseminated cobalt minerals as well as fine-to-medium grained intergrown cobalt minerals accumulated along pink carbonate-quartz vein walls. Fine grained disseminated chalcopyrite and nickel minerals are observed throughout brecciated and sheared host rock proximal to veinlets.

Hudson Bay Location Map:

 

 

 

Quality Assurance & Quality Control

Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About the Langis and Hudson Bay Silver – Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production and including nickel and copper by-products.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations please contact Mitchell Smith:
Tel. 604-630-9707 or email: mitchell.smith@brixtonmetals.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

 

 

 

Brixton Metals Drills 6.7m of 937.3 g/t AgEq and 3.0m of 0.25% CoEq at its Hudson Bay Project in the Cobalt Camp, Ontario

0
0

March 15, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce additional drill results from its wholly owned Hudson Bay project located in the Cobalt Camp, Ontario.

Highlights from 6 drill holes

  • Drill hole HB18-06 intersected 6.70 metres of 625.80 g/t Ag, 0.26% Cu, 0.45% Zn and 0.12% Pb (937.29 g/t AgEq) from 36.00m depth
  • Drill hole HB-18-04 intersected 3.00m of 0.22% Co and 0.48% Cu, 17.3 g/t Ag (0.25% CoEq) from 46.00m depth
  • Drill hole HB-18-05 intersected 0.71% Co, 10.3 g/t Ag, 0.46% Ni, 0.37% Zn (0.80% CoEq) over 1.00 metres from 56.00m depth
  • Drill hole HB18-07 intersected 5.00m of 236.36 g/t Ag, 0.04% Co including 2,050 g/t Ag and 0.42% Co (2.24% CoEq) over 0.50 metres from 56.00m depth

Chairman and CEO of Brixton, Gary R. Thompson stated, “We continue to have success from our first drill campaign at the Hudson Bay project. The intercepts are at shallow depths 36 to 57 metres deep. For reference 1% cobalt is equivalent to 12% copper or 1,600 g/t silver. We see the potential for both high grade narrow veins and broad low-moderate grade disseminated mineralized zones.”

The reported drill holes have confirmed the presence of additional cobalt and silver mineralization at the Hudson Bay project. Significant cobalt mineralization was intersected in drill holes HB-18-04 and HB-18-5 and consists of cobalt, nickel and copper minerals as disseminated and centimeters wide veinlets. The mineralization is hosted in locally brecciated and chloritized cherty mafic-intermediate pillows (Archean Volcanics). It appears that the cobalt mineralization intersected in drill holes 04 and 05 are part of a northwest trending cobalt mineralization system that was also intersected in holes 01 and 03 (February 20, 2018 news release) that wasn’t previously mined out.

*Cobalt Equivalent values (CoEq) were calculated using the formula CoEq = $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $28 x % Co ÷ 100 x 2204.63 + $5.50 x % Ni ÷ 100 x 2204.63 ÷ $28 ÷ 2204.63*100. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $3 per pound for Cu, $5.5 per pound for Ni and $28 per pound for Co. **Silver Equivalent values (AgEq) were calculated using the formula AgEq = 17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷100 x 2204.63 +28 x % Co ÷ 100 x 2204.63 + 5.50 x % Ni ÷ 100 x 2204.63 ÷17 x 31.104. This method assumes full metal recoveries.

Drill hole HB-18-06 was drilled 76 metres northwest from drill hole HB-18-01 (1% Co over 0.8m reported on February 20, 2018 news release) and was successful in identifying silver and copper mineralization. See below highlights of the assays results from drill hole HB-18-06.

Drill hole HB-18-07 was designed to test the extension to the south of the silver-cobalt mineralization historically mined by previous operators. The drill hole intersected significant silver-cobalt mineralization and consisted of 2,050 g/t Ag and 0.42% Co over 0.5 metres. The mineralization consists of cobalt and silver minerals associated with chalcopyrite and arsenopyrite hosted in Huronian conglomerate.

Assays highlights from holes HB-18-07 to HB-18-10.

 

Quality Assurance & Quality Control

Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About the Langis and Hudson Bay Silver – Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins and as disseminations within any of the three main rock types: Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production, and includes nickel and copper by-products.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor relations please contact at mitchell.smith@brixtonmetals.com or 604-630-9707

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. 


Brixton Metals Expands its Atlin Gold Project

0
0

April 5, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has entered into an asset purchase and sale agreement to acquire a 100% interest in five mining claims for 2,740 hectares in the Atlin Camp of British Columbia.  Brixton will acquire the properties by issuing the sellers an aggregate of 50,000 common shares and $10,000 in cash consideration (subject to acceptance by TSX Venture Exchange). The claims are subject to a 1% Net Smelter Return (“NSR”) where Brixton holds the right to purchase the NSR for $1M.

Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “We are excited to build upon our extensive land package as we consolidate mineral lands in the productive Atlin gold camp.  We believe the camp has district-scale potential for intrusion related gold deposits and orogenic Barkerville style gold veins.”

About the Atlin Gold Project

The wholly-owned 586 square kilometer Atlin project is located in Northwest British Columbia east from the town of Atlin.  The property is easily accessible by road and helicopter. The Atlin placer camp covers an area of 50km by 50km where placer gold is found in most of the drainages. Spruce Creek, within the Atlin gold camp, holds the provincial record for the largest gold nugget, weighing 2.6 kilograms or 85 ounces, BCGS Paper 2017-1, p.179-193, and arguably the largest in Canada. In 2017, Brixton sampled up to 293 g/t Au from vein material at the LD showing.

Brixton’s extensive land position covers both Surprise Lake batholith and favourable sedimentary rocks of the Cache Creek terrane. The Company’s plan is to conduct property scale exploration work to generate drill targets.

More information about Brixton’s Atlin Gold Project can be found at:  www.brixtonmetals.com/properties/atlin-gold-project/

Mr. Sorin Posescu, P. Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada, have generated excellent results to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis and Hudson Bay mines produced at 25 and 123 opt silver, respectively.  The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations, please contact Mitchell Smith:
Tel: 604-630-9707 or email: mitchell.smith@brixtonmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates and forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Drills 5.00m of 0.23% Cobalt, 2.10% Copper, 94.96 g/t Silver Including 2.00m of 0.72% Cobalt Equivalent

0
0

April 10, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce drill results from its wholly owned Hudson Bay project located in the Cobalt Camp, Ontario, Canada.

Highlights from 9 drill holes:

  • Drill hole HB18-17 intersected 5.00m of 0.23% cobalt, 2.10% copper and 94.96 g/t silver including 2.00m of 0.55% cobalt, 2.38% copper, 193.50 g/t silver or 0.72% CoEq
  • Drill hole HB-18-16 intersected 1.00m of 0.22% Cobalt, 3.99 g/t gold, 76.10 g/t silver or 0.54% CoEq from 26m depth
  • Drill hole HB-18-09 intersected 0.04m of 53,053 g/t silver (5.3% Ag), 12.70% copper, 0.91% nickel

Chairman and CEO of Brixton, Gary R. Thompson stated, “We are impressed with such high silver grades in Hole 9, where we hit 5.3% silver and 12.7% copper; albeit narrow, it is very encouraging. We see both disseminated mineralized zones and a series of veins stacked together, as in hole 14 where there are 7 mineralized intervals within 53m inclusive of a 3.5m mined out section and are pleased that these mineralized intervals can reach 9m in width. For reference, 12% copper or 1,600 g/t silver is equivalent to 1% cobalt.”

Holes HB-18-10 and 15 returned no significant results. Results from 5 holes at Hudson Bay are pending.

Cobalt Equivalent values (CoEq) were calculated using the formula CoEq = $17 x Ag g/t ÷ 31.104 +$1200 x Au g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $28 x % Co ÷ 100 x 2204.63 + $5.50 x % Ni ÷ 100 x 2204.63 ÷ $28 ÷ 2204.63*100. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $3 per pound for Cu, $5.5 per pound for Ni and $28 per pound for Co. Silver Equivalent values (AgEq) were calculated using the formula AgEq = 17 x Ag g/t ÷ 31.104 + +$1200 x Au g/t ÷ 31.104 +$3 x % Cu ÷100 x 2204.63 +28 x % Co ÷ 100 x 2204.63 + 5.50 x % Ni ÷ 100 x 2204.63 ÷17 x 31.104. This method assumes full metal recoveries. True width can not be determined at this time and reported widths are drilled intervals.

Plan map of the veins drilled:

Core Descriptions

HB-18-17:

Fine-to-coarse grained, pink quartz-calcite veins and veinlets are observed between 71-72m and 110-115m, hosted in Keewatin mafic volcanic rocks and graphite-altered sediments, respectively. Chalcopyrite mineralization with lesser pyrite, pyrrhotite and sphalerite ranging from 0.5-4% noted in sample intervals between 110-115m.

HB-18-16:

All noted intervals are hosted in Huronian conglomerate. Fine-to-coarse grained, pink quartz-calcite veins containing Co/Ag mineralization are observed in intervals 26-27m (vein in contact with lens of semi-massive, coarse-grained pyrite) and 36-37m (veins brecciating host rock).

HB-18-09:

Centimeter-scale silver-rich veins are hosted in relatively unaltered Huronian conglomerate and chloritized-to-locally silicified Keewatin mafic volcanic rocks at 62.77m-62.80m and 90.25-90.29m, respectively. See picture below:

Quality Assurance & Quality Control

Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. Sorin Posescu, P.Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About the Langis and Hudson Bay Silver – Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins and as disseminations within any of the three main rock types: Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production, and includes nickel and copper by-products.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor Relations please contact Mitchell Smith:
Tel: 604-630-9707 or email: mitchell.smith@brixtonmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Brixton Metals Drills 1.38% Cobalt, 63.00 g/t Silver over 2.00m

0
0

April 30, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce drill results from its wholly owned Hudson Bay project located in the Cobalt Camp, Ontario, Canada.

Highlights from 8 drill holes

  • Drill hole HB18-23 intersected 2.00m of 1.38% cobalt, 63.00 g/t silver from 133m depth
  • Drill hole HB18-23 intersected 23.00m of 55.55 g/t silver, 1.16% copper from 9.00 m depth including 3.00m of 120.33 g/t Ag, 2.42% copper
  • Drill hole HB-18-21B intersected 2.00m of 0.97% cobalt, 40.65 g/t silver, 0.22% copper within 5.00m of 0.42% cobalt, 23.90 g/t Ag and 0.45% copper

Chairman and CEO of Brixton, Gary R. Thompson stated, “These results conclude our phase one drilling program at the Hudson Bay mine area which clearly demonstrates the potential for high grade cobalt and silver with significant base metals as noted in hole 23 where we encountered 1.38% cobalt. A total of 24 holes for 3150 m were drilled at the Hudson Bay site. One of the HB veins has been drilled for 150 m in strike so far. The Company has moved the drill rig to its Langis silver-cobalt project for drilling which is located about 22 km from the Hudson Bay site.”

Cobalt Equivalent values (CoEq) were calculated using the formula CoEq = $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $35 x % Co ÷ 100 x 2204.63 ÷ $35 ÷ 2204.63 x 100. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $3 per pound for Cu and $35 per pound for Co. Silver Equivalent values (AgEq) were calculated using the formula AgEq = 17 x Ag g/t ÷ 31.104  +$3 x % Cu ÷100 x 2204.63 +$35 x % Co ÷ 100 x 2204.63 ÷17 x 31.104. This method assumes full metal recoveries. True width can not be determined at this time and reported widths are drilled intervals.

Holes HB 22 and 24 returned insignificant results. True widths have not been determined at this time.

Core Descriptions

HB-18-23: (133.00m-135.00m): quartz-carbonate veins and veinlets within sheared graphite-rich sections contain fine-to-coarse grained cobaltite and fine-to-very fine grained native Ag. Cobaltite and disseminated Ag are oriented along stringers parallel to shears, with the majority of coarse-grained cobalt mineralization present along walls of shear veins. This zone is similar to the 4m long mineralized zone observed in Hole 21B (132-136m). Fine-grained pyrite and chalcopyrite are also present over this interval and are locally associated with veining. Core photo:

HB-18-21B: (132.90m-133.10m): Sheared and folded quartz-carbonate-chlorite veining containing fine-grained base metal-sulphide mineralization including chalcopyrite, pyrite, pyrrhotite and possibly very fine-grained silver arsenide. Vein hosted in Keewatin Mafic Volcanics. Core photo:

HB-18-18 (49.00-52.500m) Fault Breccia: White-beige carbonate veins with fine-to-medium grained chalcopyrite and pyrite brecciating graphitic sediments and early coarse-grained quartz veins. Core photo HB-18-18 (51.00-51.50m):

Quality Assurance & Quality Control

Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. G.R. Thompson, P.Geo, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About the Langis and Hudson Bay Silver – Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins and as disseminations within any of the three main rock types: Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor relations please contact at mitchell.smith@brixtonmetals.com or 604-630-9707

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. 

Brixton Metals Drills 1.98% Cobalt, 15,436.00 g/t Silver over 1.00m within 7.87m of 2,787.26 g/t Silver, 0.27% Cobalt and Intersected 70.65m of Nickel-Cobalt-Silver in Archean Basement

0
0

May 9, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce drill results from its wholly owned Langis Mine Project located in the Cobalt Camp, Ontario, Canada.

Highlights from six drill holes at the Langis Project

  • Drill hole LM18-16 intersected 7.87m of 2,787.26 g/t silver, 0.27% cobalt including 1.00m of 15,436.00 g/t silver, 1.98% cobalt, 0.47% nickel
  • Drill hole LM18-20 intersected 70.65m of 0.10% nickel, 0.01% cobalt, 7.07 g/t silver

Chairman and CEO of Brixton, Gary R. Thompson stated, “Brixton Metals continues to deliver strong silver-cobalt results from the Cobalt Camp.  Drill hole LM18-16 returned a spectacular one metre interval of 450 oz/t silver (15,436 g/t Ag) and 1.98% cobalt, which combined is equivalent to 12.67% cobalt or 537 oz/t silver.  A broad nickel-cobalt-silver mineralized zone was discovered in the Archean basement rocks, which is up to 70m thick. See the table and cross section below, where holes 16, 19, 20 and 21 intersected nickel-cobalt-silver mineralization. We plan to drill more holes on the property aimed at locating a high-grade core to this broad mineralized horizon at Langis and to further extend the bonanza grade silver-cobalt veins.”

Table of Highlights from drill holes LM18(16-19)

Cobalt Equivalent values (CoEq) were calculated using the formula CoEq = $16.5 x Ag g/t ÷ 31.104 +$35 x % Co ÷ 100 x 2204.63 + $5.50 x % Ni ÷ 100 x 2204.63 ÷ $35 ÷ 2204.63*100. This method assumes full metal recoveries.

Silver Equivalent values (AgEq) were calculated using the formula AgEq = $16.5 x Ag g/t ÷ 31.104 + $35 x % Co ÷ 100 x 2204.63 + $5.50 x % Ni ÷ 100 x 2204.63 ÷$16.5 x 31.104. Metal prices used in this calculation include: $16.5 per ounce for Ag, $5.5 per pound for Ni and $35 per pound for Co. This method assumes full metal recoveries. True width cannot be determined at this time and reported widths are drilled intervals.

Hole LM18-17 encountered underground workings and was abandoned. Results from 8 additional holes are pending. True widths have not been determined at this time. 

Table of Highlights from drill holes LM18(20-21)

Core Descriptions

LM-18-16: (159.56 – 160.56m): Mineralization consists of smaltite-native silver-cobaltite multi-centimetre scale veins and veinlets +/- pink quartz calcite veinlets that cross-cut Huronian conglomerate. Very fine disseminated cobalt minerals and native silver is present in this interval.

 Langis Plan Map

Quality Assurance & Quality Control

Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. Sorin Posescu, P.Geo, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About the Langis and Hudson Bay Silver-Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins and as disseminations within any of the three main rock types: Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor relations please contact at mitchell.smith@brixtonmetals.com or 604-630-9707

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. 

Brixton Metals Drills 3.55% Cobalt over 0.98m at Its Langis Project

0
0

May 30, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce drill results from its wholly owned Langis Mine Project located in the Cobalt Camp, Ontario, Canada.

Highlights from three drill holes at the Langis Project

  • Drill hole LM18-23 intersected 0.98m of 3.55% cobalt, 0.10% nickel
  • Drill hole LM18-24 intersected 22.00m of 0.11% nickel, 0.01% cobalt

Chairman and CEO of Brixton, Gary R. Thompson stated, “Brixton Metals has drilled some of the highest grade cobalt intercepts in the world from its Cobalt Camp projects in Ontario. Drill hole LM18-23 returned 3.55% cobalt over a 0.98m drilled interval, which is equivalent to more than 5000 g/t silver. Also we continue to show broad low grade Co-Ni-Ag intervals below the unconformity in the basement Archean meta-volcanics and meta-sediments. We plan to drill follow up holes on the highest grade intervals of cobalt and silver that where drilled thus far and further test for possible higher grade zones within the broad mineralized zones within the basement rocks. The Archean basement rocks which host these broad Co-Ni-Ag mineralized zones outcrop west of the underground workings at the Langis mine and will be drill tested.”

Table of Highlights from drill holes LM18 (22-24).

Langis Section A-A’ View to North:

Core Photograph LM18-23 (156-160m):

Langis Plan Map:

 

Quality Assurance & Quality Control

Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish.  All other elements were analyzed by Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.

Mr. Sorin Posescu, P.Geo, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

In addition, the Company has acquired mineral lands in the Atlin Area of BC expanding its Atlin Gold project to 68,309 hectares. The 6 claims of 9614 hectares were acquired one hundred percent subject to a one percent to net smelter royalty to the vendor for 260,000 common shares in the Company.

About the Langis and Hudson Bay Silver-Cobalt Project

Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins and as disseminations within any of the three main rock types: Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.

On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: info@brixtonmetals.com

For Investor relations please contact at mitchell.smith@brixtonmetals.com or 604-630-9707

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

 

 

 

Viewing all 141 articles
Browse latest View live




Latest Images