VANCOUVER, British Columbia, May 24, 2022 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has kicked off the exploration program at its flagship Thorn Project located in the Golden Triangle of British Columbia. The fully-funded 2022 program will consist of up to 20,000 metres of drilling, focussing on the Camp Creek Porphyry Target and the Trapper Gold Target, with the possibility of drilling at the Metla Copper-Gold Target and the Outlaw Gold-Silver Target.
VP of Exploration Christina Anstey stated, "We are excited to have begun drilling now, which is the earliest start of a season yet. Two of the high priority targets include the Camp Creek copper dominant porphyry target and the Trapper Gold Target. Additional exploration work is planned to drill ready other copper-gold targets on the massive Thorn Project."
Camp Creek Cu-Au-Ag-Mo Porphyry Target
Brixton Metals made significant progress in 2021 on the blind Camp Creek Porphyry Target. Drill holes 162, 181,183 and 184 show copper, gold, silver and molybdenum grades, as well as porphyry index values (MPIx), increasing with depth. The bottom of holes 183 and 184 are approximately 286m apart and both ended in mineralization. One drill rig has begun drilling at the Camp Creek Porphyry Target, with a wedged hole starting at about 930m in THN21-184 for a 1000m of new core. Last season, THN21-184 drilled 821m of porphyry style copper dominant mineralization where the bottom 14m of the hole ended in 0.68% Cu, 0.14 g/t Au, 6.53 g/t Ag, and 508.57 g/t Mo. The mineralization in the lower part of the hole was chalcopyrite greater than pyrite. Also, a 1.85m interval from 1175m depth returned 89.3 g/t Au.
The objective at Camp Creek is to tag the copper-rich core of the porphyry system.
The Trapper Gold Target
A second drill is expected to start drilling on the Trapper Gold Target in early June. Following the 2020 acquisition of the Trapper claims and royalties, 2021 was Brixton’s first drill program which successfully highlighted the gold endowment of the target.
Standout results from the Trapper Target in 2021 include hole THN21-186, yielding 187.50m of 1.60 g/t Au including 139.00m of 2.14 g/t Au, including 11.5m of 19.25 g/t Au.
The Trapper Target consists of volcanic and volcaniclastic rocks of the Upper Triassic Stuhini group, which are intruded by Cretaceous quartz diorite, interpreted as part of the Thorn Magmatic Suite. The quartz diorite is associated with high-grade gold mineralization at Trapper, including a broad gold zone that extends into the Stuhini volcanic rocks.
The objective at Trapper is to expand the gold zone on trend and at depth.
The Metla Copper-Gold Porphyry Target
Metla is a copper-gold porphyry anomaly within the Thorn Project and is located about 15km to the southeast from the Trapper area. The Metla claims were acquired in 2020 from Stuhini Exploration. Recent U-Pb zircon age dating indicates that the Au-Cu bearing granodiorite is Triassic in age, 220 +/- 3.1 Ma. Several distinct styles of mineralization occur in the Metla area including a potassic altered diorite porphyry unit with bornite, chalcopyrite and chalcocite that returned 4.7% Cu, 1.8 g/t Au, 31 g/t Ag. Showings of massive pyrite, chalcopyrite and sphalerite are hosted in the hydrothermal breccia where rock samples have returned up to 62.7 g/t Au and 4.54% Cu. A 1989 trench by Cominco returned 9m of 4.6 g/t Au.
The 2022 exploration program will include extensive geochemistry, geological mapping and potentially further geophysical surveys to define drill targets for the 2022 or 2023 drilling.
The Outlaw Gold Target
The Central Outlaw Target is located more than 3km to the southeast from the Camp Creek Target. Gold mineralization is hosted with clastic sediments as Triassic Stuhini group interbedded siltstone-graywacke, where a gold-in-soil anomaly is about 5km long in an east-west trend. Mineralization is stratiform and within structural controlled areas and is thought to be to related to Jurassic dacite dykes that intrude the sediments. The Central Outlaw Zone has been drilled for a continuous strike of 600m with drill results up to 59m of 1.1 g/ Au. The highest surface rock grab sample was from the East Outlaw area returning 22.98 g/t Au.
The objective at the Outlaw Target in 2022 is to drill for continuity of gold mineralization between the Central and East Zones and east extension through 4-6 widely spaced drill holes.
Mr. Gary R. Thompson, P.Geo., is the Chairman and CEO for the Company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information and has approved the technical information in this press release.
Corporate Update
In addition, the Company is pleased to announce the grant of incentive stock options to its directors, officers, employees and consultants for an aggregate amount of 3,800,000 (the “Options”). These Options are exercisable at $0.16 per share for a period of 10 years and are subject to provisions of the Company’s stock option plan as approved by its shareholders.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects, its flagship Thorn Cu-Au-Ag-Mo Project located in NW BC, the Langis-HudBay Ag-Co-Ni Project in Ontario, the Hog Heaven Cu-Ag-Au Project located in NW Montana, USA under Option to Ivanhoe Electric and the Atlin Goldfields Project located in NW BC under Option to Pacific Bay Minerals. 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
Tel: 604-630-9707 or email: info@brixtonmetals.com
For Investor Relations, please contact:
Mitchell Smith, VP Investor Relations
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.
