Not for distribution to United States Newswire Services or for dissemination in the United States
November 17, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) announces that in connection with the Company’s non-brokered private placement previously announced on October 30, November 6 and November 10, 2023, (the “Offering“) of up to 15,016,666 units (the “Units”), up to 49,386,593 national flow-through units and up to 16,384,645 charity flow-through units, for total gross proceeds of up to $14,580,535.51, an amended offering document (the “Offering Document”) related to the offering of the Units has been filed and can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at https://brixtonmetals.com/offering-document/. Prospective investors should read this Offering Document before making an investment decision.
The Offering is subject to certain conditions including the receipt of all necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange.
The anticipated closing of the Offering is November 20, 2023.
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, or other similar expressions. All statements other than statements of historical fact included herein are forward-looking statements, including, without limitation, statements regarding potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, proposed timing for completion of the Private Placement, the expected number of Common Shares to be issued and gross proceeds of the Private Placement, and the use of proceeds of the Private Placement. 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; the fact that the Private Placement may not close as scheduled or at all, 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 does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Not for distribution to United States Newswire Services or for dissemination in the United States
Not for distribution to United States Newswire Services or for dissemination in the United States
November 20, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has completed the first tranche of the non-brokered private placement previously announced on October 30, 2023, November 6, 2023 and November 10, 2023 (the “Offering“).
The first tranche of the Offering consisted of 15,016,666 units (“Units”) and 49,386,593 national flow-through units (“NFT Units”). The second tranche of the Offering will consist of 16,384,645 charity flow-through units (“Charity FT Units”) scheduled to close later this week, for total gross proceeds from both tranches of $14,580,535.51.
Each Unit consisted of one common share of the Company and one half of one transferable common share purchase warrant (a “Warrant”), each whole Warrant exercisable at a per share price of $0.23 until November 20, 2025. Each NFT Unit consisted of one common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, an “FT Share”) and one half of one transferable Warrant. Each whole Warrant comprising the NFT Units shall entitle the holder to purchase one common share of the Company at a per share price of $0.23 until November 20, 2025.
One insider participated in the Offering for aggregate cash consideration to the Company of $35,003, which constitutes a Related Party Transaction under TSX Venture Exchange Policy 5.9. The Company availed itself of the exemptions contained in section 5.5(c) of Multilateral Instrument 61-101 (“MI 61-101”) for an exemption from the formal valuation requirement and Section 5.7(1)(b) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the securities to be distributed in the transaction, and the consideration to be received by the Company for those securities, insofar as the transaction involves interested parties did not exceed $2,500,000.
The proceeds raised from the sale of the Units will be used by the Company for general corporate purposes. Proceeds from the sale of NFT Units will be used to incur “Canadian exploration expenses” and “flow through mining expenditures” as defined in the Income Tax Act (Canada).
The securities issued to subscribers of the NFT Units will be subject to a hold period until March 21, 2024 pursuant to applicable Canadian securities laws. Because the offering of the Units was completed pursuant to the Listed Issuer Financing Exemption, the securities issued to Canadian resident subscribers for the Units were not subject to a hold period pursuant to applicable Canadian securities laws.
Finder’s fees of an aggregate $92,940.12 and 558,235 warrants to purchase common shares of the Company at a per share price of $0.23 until November 20, 2025 were paid to persons who introduced the Company to subscribers to the Offering.
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, or other similar expressions. All statements other than statements of historical fact included herein are forward-looking statements, including, without limitation, statements regarding potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, and the use of proceeds of the Private Placement. 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 does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Not for distribution to United States Newswire Services or for dissemination in the United States
Not for distribution to United States Newswire Services or for dissemination in the United States
November 22, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has completed the second tranche of the non-brokered private placement previously announced on October 30, 2023, November 6, 2023, November 10, 2023 and November 20, 2023 (the “Offering“).
The first tranche of the Offering which closed on November 20, 2023, consisted of 15,016,666 units (“Units”) and 49,386,593 national flow-through units (“NFT Units”). The second tranche of the Offering consisted of 16,384,645 charity flow-through units (“Charity FT Units”), for total gross proceeds from both tranches of $14,580,535.51.
Each Charity FT Unit consisted of one common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, an “FT Share”) and one half of one transferable Warrant. Each whole Warrant comprising the Charity FT Units shall entitle the holder to purchase one common share of the Company at a per share price of $0.23 until November 22, 2025.
Following completion of the Offering, the Company’s largest shareholder, BHP Investments Canada Inc., a wholly owned subsidiary of BHP Group Limited, purchased the 16,384,645 Units of the Company that were initially purchased from the Company by other purchasers as part of the Charity FT Units in order to maintain its 19.9% pro-rata share position in the Company.
Proceeds from the sale of Charity FT Units will be used to incur “Canadian exploration expenses” and “flow through mining expenditures” as defined in the Income Tax Act (Canada).
The securities issued to subscribers of the Charity FT Units will be subject to a hold period until March 23, 2024 pursuant to applicable Canadian securities laws.
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, or other similar expressions. All statements other than statements of historical fact included herein are forward-looking statements, including, without limitation, statements regarding potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, and the use of proceeds of the Private Placement. 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 does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Not for distribution to United States Newswire Services or for dissemination in the United States
December 1, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the final batch of 2023 drill results from the Trapper Gold Target at its wholly owned Thorn Project. The project is located in Northwest British Columbia, 90km east of Juneau, Alaska and within the Taku River Tlingit and Tahltan First Nation’s traditional territory.
Highlights
Ten visible gold occurrences observed across four drill holes
Hole THN23-287 yielded 276.00m of 0.34 g/t Au from 12.00m depth
Including 149.00m of 0.55 g/t Au
Including 54.00m of 1.03 g/t Au
Including 19.00m of 2.34 g/t Au
Hole THN23-288 yielded 179.50 of 0.51 g/t Au from 9.00m depth
Including 76.50m of 1.08 g/t Au
Including 6.00m of 4.58 g/t Au
And Including 17.00m of 2.51 g/t Au from 90.00m depth
Chairman and CEO, Gary Thompson, stated, “We are delighted to see the gold mineralization encountered in drilling as we step away from the previous drilling. A nearly 2km gap remains to be tested through drilling between this main area to the southeast where previous operators drilled 1.78 g/t Au over 32.67m including visible gold. The Trapper Target represents a 4km gold-in-soil anomaly with limited drilling to date. In addition,a new copper showing was discovered with disseminated bornite located 5km south of the Trapper main drilling area. Highlights from South Trapper include 6.5% and 5.3% Cu from rock grab samples which will be followed up in 2024.”
Figure 1. Gold Geochemistry and Trapper Target Location Map.
Table 1. Select Mineralized Intervals for the Trapper Target Drilling.
All assay values are uncut weighted averages and intervals reflect drilled lengths as further drilling is required to determine the true widths of the mineralization.
Discussion
The 2023 program at the Trapper Gold Target totaled 6,625.24m of drilling. This News Release covers 3,598.24m of drilling for a total of 11 drill holes. For previous assays from the 2023 program at Trapper see NR dated October 16th, 2023.
Figure 2. Simplified Geology Map with Collar Locations and Drill Traces at the Trapper Target.
Gold mineralization at Trapper is structurally controlled along the Lawless fault, trending northwest-southeast and dipping moderately to the north. Mineralization appears to favour the contact between the Cretaceous (85.2 +/- 1.2Ma) quartz diorite and the Triassic lapilli tuffs with broad gold intervals largely hosted along the faulted contact. The gold is associated with silver and base metal veins containing pyrite-galena-sphalerite +/- chalcopyrite +/- bornite, which occur conjugate to the Lawless fault. Through a combination of oriented core drilling, surface mapping, geochemistry and geophysics, the aim is to achieve predictability of the gold-bearing zones. The current drilling at the Trapper Target is located 7km southeast from the Camp Creek Copper Porphyry Target. At surface, the Trapper Target is expressed as a 4km northwest trending gold and zinc soil geochemical anomaly which is part of the larger 11km gold geochemical anomaly trending from Camp Creek to the Trapper Target.
The 2023 drill campaign at Trapper was designed to test the extents of the main mineralized corridor along the Lawless fault zone, as well as testing step-out targets where similar structural and geophysical features were interpreted using the high-resolution aeromagnetic survey completed in 2022. Drilling was planned through a combination of mapping, oriented core data analysis, geophysics, and soil geochemistry. Results from the 2023 drill program continue to demonstrate the potential for broad intercepts of near surface gold mineralization which remains open in several directions.
Figure 3. 3D Conceptual Deposit Model of the Trapper Gold Target, Northwest View.
Drill holes THN23-275 and THN23-279 were collared from the same drill pad as previously released hole THN23-278 (assaying 123.58m of 0.15 g/t Au from 347.50m) and were planned to test the western extents of mineralization in the hanging-wall along the Lawless fault and around the intrusive-volcanic contacts. Although no significant assays were achieved with holes THN23-275 and THN23-279, base metal mineralization and two instances of visible gold were observed in discrete vein sets and appear to be distal extents of the main gold-rich zone to the east. Additionally, THN23-278 from this pad location was successful in extending the mineralized zone approximately 250m down dip and towards the north along the Lawless fault.
THN23-280 was collared 120m north of THN22-205 (assaying 64.00m of 5.74 g/t Au, including 28.95m of 10.36 g/t Au) and planned as a northern step-out hole to test the lapilli tuff and quartz diorite contacts. THN23-280 was drilled to a total depth of 399m with one visible gold occurrence returning 0.40m of 3.54 g/t Au, however no significant assay intervals were achieved.
Drill holes THN23-281 and THN23-282 were collared from the same drill pad, located 100m northwest of THN23-275, and were planned to test the far west extents of mineralization along the Lawless fault. THN23-281 was drilled towards the north targeting the dominant base metal vein orientations while THN23-282 was drilled towards the south to test additional conjugate vein orientations within the Stuhini volcanics. Although THN23-281 was relatively unmineralized, discrete occurrences of base metal mineralization with low-grade gold intercepts up to 2.57 g/t Au over 1.0m were observed at depth proximal to the fault zone. No significant mineralization was observed in THN23-282.
THN23-283 was drilled 200m north of THN22-205 and planned as a northern step-out to test for mineralization along the lower contact zone of the lapilli tuff and quartz-diorite. THN23-283 was drilled towards the north to a final depth of 433m and no significant mineralization was observed.
THN23-284 was collared ~600m north-northwest of the main drilling zone at Trapper and planned to test an undercover area with a gold-in-soil anomaly sharing a similar geophysical signature to the main zone which was identified from the 2022 aeromagnetic survey. THN23-284 was drilled towards the northeast to a final depth of 345m and although intercepting quartz-carbonate veining with base metal mineralization and a similar alteration assemblage to the main zone, no significant gold grades were returned. Further drilling is required around THN23-284 to determine the extents of epithermal mineralization and potential gold-bearing structures in this area.
THN23-286 was collared ~150m east of the main drilling area to test the eastern extension of mineralization along the Lawless fault in an area of anomalous gold and zinc-in-soil. The hole was drilled to a final depth of 171m and intersected short intervals of epithermal style veining with pyrite-sphalerite-galena-chalcopyrite base metal mineralization within the lapilli tuff. Assays include 129.90m of 0.12 g/t Au, including 7.90m of 1.64 g/t Au.
Drill holes THN23-287 and THN23-288 were collared from the same pad location, setup as 40m step-out holes between THN22-237 (assaying 84.00m of 3.10 g/t Au) to the southwest and historic 2011 drill holes to the east. Both holes were planned to test the extents of mineralization to greater depths along the Lawless fault while testing the lapilli tuff and quartz diorite contacts. THN23-287 was drilled at a -62 degree dip towards the north and was successful in intercepting base metal sulphide mineralization with five visible gold occurrences assaying 54.00m of 1.03 g/t Au, within 149.00m of 0.55 g/t Au.
THN23-288 was drilled below THN23-287 at a -80 degree dip to test the continuity of mineralized veins at depth and towards the south. Two visible gold occurrences were observed along with numerous base metal sulphide veins assaying 179.50m of 0.51 g/t Au from 9.00m depth, including 76.50m of 1.08 g/t Au, and including 17.00m of 2.51 g/t Au from 90.00m depth.
THN23-289 was collared 120m northwest of THN23-287 and THN23-288 as step-out hole planned to target the intrusive-volcanic contact north of the Lawless fault. Minor quartz-carbonate base-metal veining was observed in core however no visible gold was observed and no significant assays were returned.
Figure 4. Visible Gold Photographs of 2023 Trapper HQ Core.
Figure 5. Gold Surface Geochemistry Map with Collar Locations and Drill Traces at the Trapper Target.
2023 Trapper Drill Campaign Summary
The 2023 exploration program at Trapper was designed to test areas proximal to the main drilling zone in order to determine the extents of gold-bearing ore shoots along the Lawless fault, as well as test undercover outboard areas hosting similar geophysical and soil geochemical signatures to the main zone. Drilling was successful in expanding upon the past two seasons of drilling around the main zone, however additional work is needed around the larger step out zones to help uncover potential areas of high-grade gold mineralization. While Trapper is largely undercover, the gold-in-soil geochemical footprint extends 4km by 1.5km and remains largely undrilled. High-grade surface grab samples have returned assays up to 152 g/t Au along Inlaw Creek, over 500m away from the focused drilling area. Further drilling is required to test and identify gold-rich zones and further define the scale-potential across the Trapper Target.
Vice President of Exploration, Christina Anstey, stated, “While we now have three seasons of drilling under our belt at Trapper Gold Target, we believe that we are only getting started with uncovering the gold potential and we are looking forward to advancing the target further in 2024”.
Drilling Information
Table 2. Drill Collar and Hole Information of Current News Release.
About the Trapper Gold Target
The geochemical footprint for the Trapper Gold Target was expanded in 2021 to 4km by 1.5km with a gold-in-soil geochemical signature that has a strong positive correlation to zinc and lead. The Trapper Target represents an intermediate-sulphidation epithermal system hosted in volcanic and intrusive rocks. The volcanics are Triassic Stuhini lapilli tuff, while the intrusive phase is a Cretaceous quartz diorite dated at 85.2Ma +- 1.2Ma. Visible gold has been identified in both drill core and surface outcrops across the Trapper Target area and rock grab samples have returned up to 152 g/t Au. Visible gold is recognized in several environments: within base metal veins (sphalerite-galena-pyrite-chalcopyrite), quartz-stockwork, sulphosalt-pyrite veinlets, and rarely disseminated gold in the diorite. In 2021 and 2022, Brixton drilled 3,107m and 9,119m respectively. In 2011, forty-two drill holes were completed by a previous operator. The Trapper Target is royalty free.
Quality Assurance & Quality Control
Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Langley, British Columbia. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.
About the Thorn Project
The wholly-owned 2,881 square kilometer Thorn Project is located in British Columbia, Canada, approximately 90 km east of Juneau, AK. The southern limit of the Thorn claim boundary is roughly 50 km from tide water. The Thorn Project hosts a district-scale 80km megatrend of Triassic to Eocene, volcano-plutonic complex with several styles of mineralization related to porphyry and epithermal environments. Fourteen large-scale copper-gold targets have been identified for further exploration work. Information on each of the targets may be found at the following link: https://brixtonmetals.com/thorn-gold-copper-silver-project/
Qualified Person
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the company and a qualified person as defined by National Instrument 43-101. Mr. James has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the technical information and has approved this press release.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Project located in NW BC, the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven copper-silver-gold Project in NW Montana, USA (under option to Ivanhoe Electric Inc.). Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.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.
December 4, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the appointment of Mr. Jason Shepherd as Vice President Investor Relations, effective December 1, 2023, and subject to the approval of the TSX Venture Exchange.
Chairman and CEO, Gary Thompson, stated, “We are pleased to have Mr. Shepherd join our growing and dynamic team at Brixton Metals. His depth of experience as an investor relations professional and wide reaching network fits well with our strategy of expanding our reach to the investment community.”
Jason Shepherd, VP Investor Relations
With several years of experience in investor relations, capital markets, and corporate development, primarily within the resources sector, Jason stands out as a seasoned professional in the financial communications domain. In this role, Jason is set to leverage his extensive networks and dynamic skill set to foster meaningful connections with investors, ensuring transparent, effective communication, and driving strategic growth initiatives.
The Company also announces that it has granted incentive stock options (the “Options”) to Mr. Shepherd, entitling the purchase of 400,000 common shares in the capital of the Company at a per share exercise price of $0.16 for a period of 5 years, pursuant to applicable legislation and policies of the TSX Venture Exchange. In accordance with the policies of the TSX Venture Exchange, the Options will vest in stages over 12 months from the date of grant with no more than one-quarter of the Options vesting in any three month period.
The Company is fully funded for its 2024 exploration season at its flagship Thorn Cu-Au-Ag-Mo project.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. 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
For Investor Relations inquiries please contact: Mr. Jason Shepherd, VP Investor Relations: email: jason@brixtonmetals.com or call Tel: 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.
December 13, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the remaining 2023 drill results from its Camp Creek Copper Porphyry Target on its wholly owned Thorn Project. The project is located in Northwest British Columbia, 90km east of Juneau, Alaska and within the Taku River Tlingit and Tahltan First Nation’s traditional territory.
Highlights
Step-out drilling in 2023 has expanded copper porphyry mineralization to a 950m by 1050m area at the Camp Creek Target which remains open in multiple directions
Including 248.05m of 0.60% CuEq (0.37% Cu, 0.10 g/t Au, 3.32 g/t Ag, 255 ppm Mo)
Hole THN23-277 ended in strong copper mineralization (2m of 0.66% Cu) with strong porphyry indicators and while the hole failed to reach its target depth, it is set up to wedge from 900m depth as a daughter hole early next drill season
Chairman and CEO Gary Thompson stated: “2023 proved to be another successful year on the Camp Creek Copper Porphyry Target. We have what appears to be a large mineralized and alteration footprint with limited deep holes testing a buried system. In collaboration with MDRU (UBC’s Mineral Deposit Research Unit) and the recent oversubscribed $14.5 million financing, we look forward to further drill-testing this target during the 2024 field season.”
Figure 1. Thorn Project and Copper Target Location Map with Copper Geochemistry.
Discussion
The 2023 program at the Camp Creek Porphyry Target totaled 10,099.68m of drilling from nine holes. This News Release covers the remaining four drill holes for Camp Creek. For previous assays from the 2023 program at Camp Creek see News Release dated September 21st, 2023. Camp Creek is a newly discovered, blind calc-alkalic copper-gold-silver-molybdenum porphyry target with only seventeen holes testing greater than 800m depth since 2019.
Drill hole THN23-285 was drilled as a 170m step out to the east from THN22-201 (967.71m of 0.43% CuEq) and a 200m step out to the southeast from THN21-184 (318.25m of 1.03% CuEq within 821.25m of 0.54% CuEq). THN23-285 was drilled to 1602.00m, making it the second deepest hole on the property, with broad vein-hosted and disseminated chalcopyrite-molybdenite mineralization within the Cretaceous aged Porphyry X unit and Triassic Stuhini Group sediments. THN23-285 intersected 717.00m of 0.50% CuEq, including 248.05m of 0.60% CuEq, all within 1564.50m of 0.35% CuEq. In addition to Cu-Mo porphyry mineralization, near-surface high-sulphidation epithermal veins at 173.0m yielded 10.39 g/t Au and 76.82 g/t Ag over 1.00m.
Table 1. Select Mineralized Intervals from THN23-285.
The true width of the mineralized intervals have not yet been determined.
Copper Equivalent (CuEq) is calculated based on US$ 3.82/lb Cu, US$ 1863.32/oz Au, US$ 22.59/oz Ag, $US 23.19/lb Mo. These prices represent the approximate 1 year moving averages of metal prices and calculations assume 95% recovery.
CuEq % = (Cu % + (0.711384* Au g/t) + (0.008624 * Ag g/t) + (0.000607 * Mo ppm)) * 0.95
Figure 2: Hole THN23-285 Core Photograph at 976.75m Depth from a 1.00m Interval that Assayed 0.35% Cu, 207 ppm Mo.
THN23-277 was planned as a follow up to THN23-261 (855.00m of 0.52% CuEq), stepping out 250m to the west-southwest towards THN22-201. Due to poor ground conditions which led to delays in drilling, THN23-277 was only drilled to a total depth of 1041.00m. The hole ended in strong Cu-Mo mineralization with 84.00m of 0.42% CuEq, within 724.00m of 0.22% CuEq starting at 317.00m. Intercepts of Porphyry X began at 705.50m and continued to end of hole. THN23-277 encountered some of the most abundant mineralized quartz veining observed at Camp Creek with stockwork vein densities of up to 60%. Given the encouraging visuals from the core, casing and drill rods were left in the hole to re-enter and continue drilling as a daughter wedge hole at the start of the 2024 field season. A 2.00m interval from 1032.00m depth assayed 0.66% Cu, 112 ppm Mo, 12.0 g/t Ag, 0.24 g/t Au.
THN23-276 was a 250m step out to the east-northeast from THN23-261. The objective was to test between previous deep mineralized porphyry intercepts and the Oban Breccia, where drilling in 2019 yielded 554.70m of 0.97% CuEq from THN19-150. THN23-276 was drilled to a depth of 1470.00m and intersected multiple intervals of Porphyry X. THN23-276 yielded 1087.48m of 0.15% CuEq, including 506.00m of 0.21% CuEq, and including 34.41m 0.47% CuEq. While PX intervals hosted consistent Cu-Mo mineralization, overall grades were diluted by a series of late-mineralization feldspar-porphyry intrusions.
THN23-263 was planned as a 450m step-out to the east from THN22-221 (779.65m of 0.41% CuEq) to test whether copper porphyry mineralization extends to the northeast along Camp Creek where strong argillic alteration is observed on surface. THN23-263 was drilled to a depth of 1425.00m and intersected dominantly Stuhini Group sediments, Cretaceous aged Porphyry Y unit, and a polymictic mineralized breccia starting at 1240.00m to end of hole. Hole 263 yielded 726.00m of 0.14% CuEq including 189.00m of 0.21% CuEq, with increasing grades at the bottom of the hole within the brecciated unit. While no Porphyry X was intersected in hole 263, it was successful in expanding the copper porphyry mineralization footprint at Camp Creek to a 950m x 1050m area, which remains open in multiple directions.
Figure 3. Camp Creek Drill Hole Intersections at -400m Elevation Below Sea Level.
Figure 4. Cross Section of the Camp Creek Drill Target.
Table 2. Select Mineralized Intervals.
Figure 5: Hole THN23-277 Photograph of Mineralized Core at 1032.88m Depth from a 2.00m Interval that Assayed 0.66% Cu, 112 ppm Mo, 12.0 g/t Ag, 0.24 g/t Au.
Figure 6. Hole THN23-263 Photograph of Mineralized Core at 1324.60m Depth from a 1.00m Interval that Assayed 2.64% Cu, 473 ppm Mo, 34.7 g/t Ag, 0.27 g/t Au.
MDRU Collaboration
Brixton Metals is collaborating with the University of British Columbia’s Mineral Deposit Research Unit as part of the BC Porphyry Study. An M.Sc. research project has commenced on the Camp Creek Porphyry Target with the goal of establishing geochemical and alteration vectors towards blind porphyry mineralization. In addition, an alteration mapping project is underway to characterize and map the large 4.1km x 3.9km alteration footprint centered around Camp Creek. With porphyry deposits frequently found in clusters, the use of petrographic, geochemical, and mineral spectrometer analyses will be used on drill core and 177 hand specimens collected within the alteration footprint during the 2023 field season to aid with further vectoring outside of the currently drilled area.
Table 3. Collar Information of Current News Release.
Quality Assurance & Quality Control
Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0 – 2.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Langley, British Columbia. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.
Qualified Person
Mr. Daniel Guestrin, P.Geo., is a Senior Project Geologist for the company and a qualified person as defined by National Instrument 43-101. Mr. Guestrin has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the technical information and has approved this press release.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.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.
January 10, 2024 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to provide a summary of the past year and an outlook for 2024.
Chairman and CEO Gary R. Thompson stated: “Drilling at the Camp Creek copper porphyry target was successful in expanding the mineralization footprint significantly both on strike and to depth where it remains open for further expansion. We are looking forward to the 2024 drill season where we are targeting new discoveries on the massive Thorn Project and drill testing for the high-grade core of the Camp Creek porphyry.”
2023 Highlights
Camp Creek Copper Porphyry Target, Thorn Project (previously released)
10,099.68m of drilling was completed from nine holes
Step-out drilling has expanded Cu-Au-Ag-Mo porphyry mineralization to a strike of 1050m and to a depth of 1650m in hole THN23-261 and molybdenum grade is increasing at depth
THN23-285 intersected 248m of 0.60% CuEq and 150.6m of 0.64% CuEq, and in addition to Cu-Mo porphyry mineralization, near-surface high-sulphidation veins yielded 10.4 g/t Au and 76.8 g/t Ag over 1.0m
THN23-261 returned 1562m of mineralization including 221m of 0.68% CuEq and 109.87m of 0.86% CuEq
Camp Creek drilling results ranked 15th on MinerDeck’s drilling highlights for 2023 global copper intercepts
Trapper Gold Target, Thorn Project 6625m of drilling completed from 23 holes
Ten visible gold occurrences observed expanding the main zone along strike and at depth
Hole THN23-287 yielded 54.00m of 1.03 g/t Au, including 19.00m of 2.34 g/t Au
Hole THN23-288 yielded 76.50m of 1.08 g/t Au, including 6.00m of 4.58 g/t Au
THN23-270 yielded 98.00m of 0.62 g/t Au from 98.0m depth
Including 32.00m of 1.15 g/t Au
Including 6.00m of 5.07 g/t Au
A new copper showing was discovered with disseminated bornite at South Trapper located 5km south of the Trapper main drilling area and includes 6.5% and 5.3% Cu from rock grab samples
New Exploration Targets
A total of 1269 rocks, 1636 soils and 62 talus fine samples were collected across various target areas on the Thorn Project in 2023 which returned up to 33% copper, 52 g/t gold, and 5620 g/t silver. From the 1269 rock grab samples, 91 samples were greater than 1% copper, 20 samples were greater than 5% copper, 87 samples were greater than 1 g/t gold and 17 samples were greater than 10 g/t gold. New surface discoveries were achieved at historically worked zones, including the West Target, East Target, and Chivas, as well as at exciting new target areas such as Metla, North Target and South Target. Follow-up work is being planned for 2024 with the intent to drill test some of these target areas.
VP Exploration Christina Anstey stated: “The Trapper expansion drilling was planned through a combination of mapping, oriented core data analysis, geophysics, and soil geochemistry. Results from the 2023 drill program continue to demonstrate the potential for broad intercepts of near surface gold mineralization which remains open in several directions with the potential of expansion along the 4km surface geochemical anomaly.”
Hog Heaven Project, Montana – Ivanhoe Electric earn in
2023 was a pivotal year for the Hog Heaven Project. Operated by Ivanhoe Electric Inc., the initial drilling returned exciting results. As released October 9, 2023, Hole HHD-005 yielded 311 meters of 1.07 g/t AuEq containing 22.89 g/t silver, 0.35 g/t gold, 0.06% copper, 0.55% zinc and 0.36% lead, including the bottom 8m yielding 1.32% copper, 0.34 g/t gold, and 23.38 g/t silver from 901m depth. The focus of the 2023 drill program was to test for potential extensions of known silver, gold and copper-rich high-sulphidation epithermal mineralization as well as search for a potential copper porphyry source to the epithermal system. Results from the 2023 drill campaign have shown that epithermal mineralization extends significantly beyond the depths of previous and historical mining activities. Additionally, new evidence from drill core includes porphyry-style, early-quartz veins and breccia bearing fragments of quartz-stockwork porphyry clasts, suggesting a potential connection to a deep copper porphyry system. Drilling continues throughout the winter and results are pending.
Ivanhoe Electric holds the Option to earn 75% project interest from Brixton by incurring USD$40 million in expenditures and making cash payments to Brixton in the amount of USD$4.5 million.
2023 ESG Highlights
The implementation of a second fuel bladder system on site and basing a plane at the Atlin Airstrip resulted in 99 fewer flights (approximately 19,657km) during 2023, eliminating the need for 1365 45-gallon fuel drums. These measures have significantly reduced our carbon footprint and the potential for fuel spills while saving a combined total of $472,840 in flights and metal fuel drum costs.
In partnership with the Tahltan and Taku River Tlingit First Nations we are proud to report that in 2023 we attained the greatest number of First Nation employees and contractors on the project to date. On site, a total of 67% of Brixton Metals personnel worked for First Nation contractors or Joint Ventures. First Nations employees, contractors, and management accounted for 22.14% of the seasonal workforce. Female employees, contractors, and management accounted for 23.66% of the seasonal and full-time workforce.
In September 2023, Brixton received its updated multi-year exploration permit.
2024 Outlook
The global requirements for critical metals are high, and with the energy transition in the early stages the exceptional projected growth in the coming decades, especially for copper, provides a tremendous opportunity for stakeholders. Having successfully completed the oversubscribed $14.5 million financing in November 2023, we are fully funded for the 2024 exploration program.
Brixton is in the exploration and discovery stage and we believe the Thorn Project has the potential to deliver a world class deposit that would help meet the global demand for critical metals. Drilling will continue to test for the high-grade core of the porphyry system at the Camp Creek target while also testing additional copper-gold targets to generate new discoveries.
The Company will seek to monetize its non-core assets, which include the Langis Ag-Co-Ni Project and Atlin Goldfields Project, through Option/JV/Sale.
Qualified Person
Mr. Gary R. Thompson, P.Geo., is a Geologist, Chairman, CEO and Director for the Company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the data disclosed herein and has approved the technical information in this press release.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC.
Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.
For inquiries, please contact: Mr. Jason Shepherd, VP Investor Relations at jason@brixtonmetals.com or 1-250-212-2122
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.
January 15, 2024 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the 2023 results from the Atlin Goldfields diamond drill program. The project is located near Atlin, BC and within the Taku River Tlingit First Nation’s traditional territory.
Highlights
Hole YJ-23-003 yielded 159.80m of 0.33 g/t Au from 55.00m depth
Including 35.00m of 0.77 g/t Au
Including 19.00m of 1.34 g/t Au
Including 0.45m of 38.1 g/t Au
Visible gold occurrence noted at 139.35 meters
Vice President of Exploration, Christina Anstey, stated, “We are excited to see visible high-grade gold hosted within a broad lower grade halo at the Yellowjacket Target within the one hole drilled in 2023. The road accessible Atlin Goldfields Project offers great potential for intrusion related gold and orogenic gold deposits.”
The 2023 exploration program at the Atlin Goldfields Project was limited to one drill hole collared at the Yellowjacket Target (Figure 1). Drill hole YJ-23-003 was 349.91m in length, drilling across the Pine Creek fault system and testing what appears to be several sub-parallel, gold-bearing quartz vein sets hosted by listwanitic altered ultramafic rocks, based on the historic drilling. Previous operators constrained drill exploration to 50 meters depth, with only limited drilling over 150 meters below the surface at the Yellowjacket Target. The secondary aim of the 2023 drill program was to evaluate the potential for the Pine Creek Fault System to host mineralization beyond the previously tested depths.
The Yellowjacket drill hole YJ-23-003 intersected several listwanite and ultramafic to mafic rock occurrences that hosted quartz-veining with gold mineralization. Mineralization was broadly observed from 55.00 to 214.8 meters grading 0.33 g/t Au and included five shorter intervals with grades over 1 g/t Au (Table 1; Figure 2). Visible gold was observed at 139.35m and assayed 38.1 g/t Au over 0.45m, within a 19.00m interval of 1.34 g/t Au (Figure 3).
The image (above) shows the Yellowjacket hard rock gold target within the past producing Pine Creek placer gold workings.
Table 1. Select Mineralized Intervals for Drill Hole YJ-23-003.
Figure 2. Cross-Section of YJ-23-003 with Gold Assays and Geology, Viewing North.
The Atlin Goldfields Project is underlain primarily by Mississippian to Triassic-aged volcanic and sedimentary rocks of the Cache Creek Complex, including large packages of mafic and ultramafic rocks that are favourable hosts for gold mineralization. Gold mineralization at the Yellowjacket Target appears to be controlled by the Pine Creek Fault system, a northeast trending, steeply-dipping, 60- to 80-meter-wide structure. The Pine Creek Fault hosts sub-parallel, moderately southeast-dipping, millimeter to centimeter scale quartz vein sets, which contain gold mineralization. The gold-bearing quartz veins preferentially occur within listwanitic rocks and other minor fault contacts with ultramafic rocks within the Pine Creek system. Gold mineralization occurs as native gold, with associated pyrite, chromite and mariposite.
Most of the streams and rivers across the Atlin Goldfields Project have produced placer gold for over 125 years. Although several hard rock exploration companies have worked the area, the lode gold source of the abundant placer gold in the area has not yet been identified. The Atlin Goldfields Camp holds the Canadian record for the largest gold nugget, which weighed 2.6 kg or 85 oz, and was discovered on Spruce Creek (BCGS Paper 2017-1, p.179-193).
In addition to the Yellowjacket Target, the property hosts numerous under-explored orogenic and intrusion related gold targets. The Atlin Goldfields Project is available for earn-in option, joint venture, or sale. Brixton is actively looking for a partner to advance this project and assist with the lode gold discovery in Atlin.
Figure 3. Photo of Visible Gold in Drill Hole YJ-23-003.
Table 2. Drill Hole Collar Information.
About the Atlin Goldfields Project
The Atlin Goldfields Project is located 175 kilometers southeast of Whitehorse, Yukon, immediately east of the town of Atlin. Brixton acquired the keystone claims and consolidated the property from 2016 to 2018. The mineral claims cover 579 km² and are wholly-owned by Brixton, with low- to no NSR’s.
The Atlin gold camp is the second largest placer gold producer in British Columbia with reported placer gold production of over 600,000 ounces of gold between 1898 and 1945, and an unreported amount of placer gold production since then in the area. Hard rock exploration has been focused at the Yellowjacket Target area, with over 26,000 meters of drilling completed, although this has been mostly limited to depths less than 150 meters from surface. Historical diamond drilling at the Yellowjacket Target has returned up to 509.96 g/t Au over 5.57m (YJ-03-01). In 2022, Pacific Bay Minerals drilled 3m of 9.96 g/t Au at the Yellowjacket Target. Based on the historical, high-grade drill results at Yellowjacket, small-scale, open pit mining occurred between 2007 & 2010, producing approximately 1000oz Au. This production includes a 2,880-tonne bulk sample in 2008 that recovered 599 oz Au, grading 6.5 g/t Au. Hard rock samples consisting of coarse-grained quartz veins have returned values of up to 293 g/t Au at the LD Showing and 53.6 g/t Au at the Union Showing. The project hosts potential for orogenic and intrusion related gold mineralization.
Quality Assurance & Quality Control
Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Langley, British Columbia. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.
Qualified Person
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the company and a qualified person as defined by National Instrument 43-101. Mr. James has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the technical information and has approved this press release.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Project located in NW BC, the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven copper-silver-gold Project in NW Montana, USA (under option to Ivanhoe Electric Inc.). Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.
For investor inquiries please contact Jason Shepherd, VP Investor Relations at jason@brixtonmetals.com or 1-250-212-2122
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.
Ivanhoe Electric Drills 348m of 1.08 g/t AuEq Containing 0.43 g/t Gold,40.48 g/t Silver, 0.22% Lead, and 0.12% Zinc
Including 1m of 36.94 g/t AuEq Containing 2180 g/t Silver, 5.16 g/t Gold,0.63% Copper, 6.00% Lead, 6.14% Zinc
February 6, 2024 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce additional results from the 2023 Exploration Program on the Hog Heaven Project, which is currently being operated under a definitive Earn-in Agreement with Ivanhoe Electric Inc. (see news release dated March 2nd, 2021). Ivanhoe Electric holds the option to acquire up to 75% interest by completing USD$40 million of project spending and paying Brixton USD$4.5 million. Hog Heaven is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project with historical production and copper porphyry potential located 50 miles southwest of Kalispell, in the state of Montana, USA.
Drilling results to date expand high-sulphidation mineralization and provide evidence to support the existence of a porphyry deposit at the Hog Heaven Project
Exploration Drill Hole HHD-007 Intersects 348 Meters Containing 0.43 g/t gold, 40.48 g/t silver, 0.22% lead, and 0.12% zinc, from 141 to 489 Meters or 348m of 1.08 g/t AuEq
Including 1m of 2,180 g/t silver, 5.16 g/t gold, 6.00% lead, 6.14% zinc and 0.63% copper from 147.8 to 148.8 or 1m of 36.94 g/t AuEq
Hole HHD-009 returned 145m of 0.91 g/t AuEq (0.26 g/t gold, 27.47 g/t silver, 0.20% copper)
Including 0.95m of 24.96 g/t AuEq (5.39 g/t gold, 524 g/t silver, 7.99% copper)
Since June of 2023, a total of 10,905 Meters in 12 drill holes have been completed
Results are pending for Ivanhoe Electric’s TyphoonTM geophysical survey on the project
Porphyry-style stockwork quartz veining observed in numerous clast fragments entrained within a late intrusion provides additional evidence for a porphyry system. The objective of recent work is to search for porphyry copper mineralization at depth.
Chairman and CEO Gary R. Thompson stated: “Exploration drilling continues to intersect long intervals of high-sulphidation gold-silver-copper-lead-zinc mineralization at the Hog Heaven Project. High-sulphidation epithermal mineralization is known to be associated with and generally located above copper porphyry type deposits.We look forward to the next batch of drill assays and Ivanhoe Electric’s Typhoon survey results from the ongoing program at the Hog Heaven Project.”
About the Hog Heaven Cu-Ag-Au Project – Montana, USA
Ivanhoe Electric’s current exploration drill program at Hog Heaven, as first reported in our October 2023 news release, has now completed twelve drill holes totaling 10,905 meters. Exploration drilling has stepped out to the west and southwest, where mineralization remains open. One diamond drill rig is currently on site and will operate through the winter as weather permits. In November 2023, Ivanhoe Electric conducted its proprietary TyphoonTM geophysical survey (results pending) covering an approximately 10 square kilometer area, which was designed to cover the core of known prospectivity.
Ivanhoe Electric and Brixton entered into an earn-in agreement in 2021. Under the earn-in agreement, Ivanhoe Electric may earn up to a 75% interest in the Hog Heaven Project by making cash payments totaling USD$4.5 million and incurring an aggregate of $40 million in exploration expenditures by 2032. Ivanhoe Electric will earn an initial 51% interest by making a total of USD$4.5 million in cash payments and incurring $15 million in exploration expenditures. Ivanhoe Electric may earn the additional 24% interest in the project by incurring a further USD$25 million in exploration expenditures.
Brixton acquired the Hog Heaven project from Pan American Silver in 2017 and conducted data compilation-digitization, 3D-modelling, soil geochemical survey, geological mapping, and geophysical surveys. In 2020, Brixton drilled seven confirmation core holes at the project. Highlights include drill hole HH20-02 that intersected a broad 224.85m zone of high-sulphidation mineralization yielding 78.16 g/t Ag, 0.66 g/t Au, 0.24% Cu (75.07m-299.92m) which includes the following sub-intervals:
5.48m of 445.79 g/t silver, 1.41 g/t gold, 1.50% copper
53.49m of 165.90 g/t silver, 1.28 g/t gold, 0.55% copper
13.56m of 185.80 g/t silver, 2.24 g/t gold, 0.76% copper
1.37m of 1,750 g/t silver, 5.39 g/t gold, 2.65% copper
Historically, previous operators drilled 722 holes (mostly shallow depths). A positive feasibility study was completed and a mine permit was received in 1989 to construct a mine based on the shallow oxide gold-silver mineralization; however, development did not proceed due to low metal prices in the 1990s. Select underground workings at the West Flathead mine reported silver grades from fumaroles and fractures that ranged from 300 ounces per ton to 3000 ounces per ton.
The Hog Heaven copper-silver-gold Project is an advanced-stage exploration project which historically produced high-grade silver, gold, and copper. Between 1913 and 1975, Anaconda Copper Mining and lessees produced 6.7Moz Ag, 3,000 oz Au, 23M lbs Pb, and 0.6M lbs Cu from 0.23Mt of direct-ship ore, grading 29 opt Ag. The road-accessible property is located in Flathead County, approximately 50 miles southwest of the town of Kalispell, Montana.
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the Company who is a qualified person as defined by National Instrument 43-101. Mr. James has not verified the referenced data disclosed in this press release other than Brixton’s drilling reported and is reliant on Ivanhoe Electric Inc., the operators of the Project for the technical information presented herein.
Corporate Update
Brixton announces that it has terminated the employment of Mr. Jason Shepherd from the position of VP Investor Relations effective immediately.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.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.
February 23, 2024 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce additional results from the ongoing exploration program on the Hog Heaven Project, which is operated by Ivanhoe Electric Inc. under a definitive Earn-in Agreement. Hog Heaven is located 50 miles southwest of Kalispell, in the state of Montana, USA, and is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project having historical production with copper porphyry potential.
Highlights
Step-out drilling at Hog Heaven extends mineralization 150m to the west of nearest drilling
Results of TyphoonTM geophysical survey at Hog Heaven will guide future drilling plans
HHD-012 intersected 157m of high sulphidation epithermal mineralization approximately 150m to the southwest of the nearest hole (HHD-010). This intercept is of a similar grade and quality to that seen in previously reported holes demonstrating that the Hog Heaven epithermal system has growth potential to the west of the Flathead Mine.
HHD-012 intersected 156.88m of 0.34 g/t Au, 18.77 g/t Ag, 0.09% Cu, 0.24% Pb, 0.22% Zn (from 282.12 meters) or 156.88m of 0.85 g/t AuEq
Including 49.92m of 0.40 g/t Au, 29.51 g/t Ag, 0.11% Cu, 0.40% Pb, 0.22% Zn (from 282.12 meters) or 49.92m of 1.22 g/t AuEq
Drill hole HHD-012 has been successful in opening a large new area prospective for additional shallow high sulphidation epithermal mineralization and the underlying porphyry source. Mineralization intersected by HHD-012 remains open in multiple directions and to depth.
For details from Ivanhoe Electric’s February 22, 2024 news release, click here.
Chairman and CEO Gary R. Thompson stated: “Ivanhoe Electric’s TyphoonTM geophysical survey identifies a strong conductor of about one square mile in size in the south-central area of the project where limited drilling has been conducted. We look forward to the next batch of drill results from the ongoing program at the Hog Heaven Project.”
About the Hog Heaven Cu-Ag-Au Project – Montana, USA
Ivanhoe Electric’s current exploration drill program at Hog Heaven, as first reported in our October 2023 news release, has now completed twelve drill holes totaling 10,905 meters. Exploration drilling has stepped out to the west and southwest, where mineralization remains open. One diamond drill rig is currently on site and will operate through the winter as weather permits. In November 2023, Ivanhoe Electric conducted its proprietary TyphoonTM geophysical survey (results at the link above) covering approximately 10 square kilometer area, which was designed to cover the core of known prospectivity.
Ivanhoe Electric and Brixton entered into an earn-in agreement in 2021. Under the earn-in agreement, Ivanhoe Electric may earn up to a 75% interest in the Hog Heaven Project by making cash payments totaling USD$4.5 million and incurring an aggregate of USD$40 million in exploration expenditures by 2032. Ivanhoe Electric will earn an initial 51% interest by making a total of USD$4.5 million in cash payments and incurring USD$15 million in exploration expenditures. Ivanhoe Electric may earn the additional 24% interest in the project by incurring a further USD$25 million.
Brixton acquired the Hog Heaven project from Pan American Silver in 2017 and conducted data compilation-digitization and 3D-modelling, soil geochemical survey, geological mapping, geophysical surveys. In 2020, Brixton drilled 7 confirmation core holes at the Main Mine area. Highlights include drill hole HH20-02 that intersected a broad 224.85m zone of mineralization yielding 78.16 g/t Ag, 0.66 g/t Au, 0.24% Cu (75.07m-299.92m) which includes the following sub-intervals:
5.48m of 445.79 g/t Ag, 1.41 g/t Au, 1.50% Cu
2.13m 0f 917.36 g/t Ag, 2.00 g/t Au, 3.06% Cu
53.49m of 165.90 g/t Ag, 1.28 g/t Au, 0.55% Cu
13.56m of 185.80 g/t Ag, 2.24 g/t Au, 0.76% Cu
1.37m of 1,750 g/t Ag, 5.39 g/t Au, 2.65% Cu
Historically, previous operators drilled 722 holes (mostly shallow depths) over the Main Mine and Ole Hill Targets. A feasibility study and mine permit were received in 1989 to construct a mine based on the shallow oxide gold-silver mineralization; however, development did not proceed. Select underground workings at the West Flathead Mine reported silver grades from fumaroles and fractures that ranged from 300 ounces per ton to 3000 ounces per ton.
The Hog Heaven copper-silver-gold Project is an advanced-stage exploration project which historically produced high-grade silver, gold, and copper. Between 1913 and 1975, Anaconda Copper Mining and lessees produced 6.7Moz Ag, 3,000 oz Au, 23M lbs Pb, and 0.6M lbs Cu from 0.23Mt of direct-ship ore, grading 29 opt Ag. The road-accessible property is located in Flathead County, 55 miles south-southwest of the town of Kalispell, northwestern Montana, USA.
Mr. Gary R. Thompson, P.Geo., is the Chief Executive Officer and Director for the Company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has not verified the referenced data disclosed in this press release and is reliant on Ivanhoe Electric Inc., the operators of the Project for the technical information presented herein.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.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.
