Brixton Metals Corporation
(TSX-V: BBB, OTCQB:
BBBXF) (the “
Company” or
“
Brixton”) is pleased to announce 2023 exploration
plans for its wholly owned Thorn Cu-Au-Ag-Mo Project.
Upon completion of several joint technical
committee meetings between BHP and Brixton, the following fully
funded exploration program was designed for the 2023 season:
- Drill campaign of up to 20,000m,
largely focused on the Camp Creek and Trapper Targets with new
copper and gold discoveries forefront of the goal
- Collect up to 2000 soils and 1000
rock samples focused on new target generation and definition,
optimized with real-time XRF analysis
- Conduct further geophysical surveys
such as airborne Mobile MT, ground MT, airborne magnetics and
radiometrics on select target areas
VP of Exploration, Christina Anstey, stated, “We
are excited to get an early start to the field work this year with
an ambitious set of objectives. The plan is to start with 2 drill
rigs in early-mid May at the Camp Creek Copper Porphyry Target to
test for a potential high-grade zone within the system, while
expanding the limits of the mineralized porphyry X unit. As weather
allows, we will add drills and continue exploration activities on
the Trapper Gold Target. At Trapper we plan to test for expansion
potential along strike and down plunge, including testing some of
the associated copper anomalies. Both of these large-scale
copper-gold targets remain open in all directions.”
Figure 1. Thorn Project Location and Copper
Geochemistry Map.
Chairman and CEO, Gary R. Thompson, stated, “We
believe the Thorn Project is a multi-generational opportunity that
may provide a significant amount of critical minerals, such as
copper, for the electrification of our transportation and
infrastructure systems. To support the future demand for critical
minerals and the transition to a low carbon economy, public
investment and government support for mining is paramount.”
Discussion
The Camp Creek Copper
Target
The 2023 drill program at the Camp Creek
porphyry target encompasses two principal objectives: the foremost
is to intersect the high-grade part of this extensive mineralized
system, and secondly, to further expand mineralization laterally
with 300-500m step-out holes. The goal is to start with two drills
early to mid-May in order to complete as many deep holes into the
Camp Creek porphyry as possible.
Results from the 2022 drill program continued to
demonstrate the potential for broad intercepts of nearly 1000m of
copper mineralization, which remains open in all directions.
Additionally, the Mobile MT geophysical survey data is being
remodelled, integrating the physical properties collected on the
deep core holes in 2022, which included chargeability,
conductivity, specific gravity and magnetic susceptibility. The new
interpretation and revised inversion of the existing geophysical
dataset should aid in vectoring for the deep drilling.
Please see the Camp Creek 3D model at the
following link: Camp Creek 3D Video
Copper-gold-silver-molybdenum porphyry
mineralization at the Camp Creek Target has been the focus of
drilling by Brixton Metals since 2019. The target area is
approximately 1.5km by 2km, and covers several near surface
mineralized zones, including Oban, Talisker and Glenfiddich which
were targets since 2011. The porphyry is blind and it wasn’t until
2019 that drilling was deep enough to connect with the veining
system, starting at approximately 300m depth. Through the 2020,
2021 and 2022 exploration seasons, drill testing pushed holes
beyond 1,000m depths. Calc-alkalic porphyry Cu-Au-Ag-Mo
mineralization at the Camp Creek Target is disseminated, within
quartz-anhydrite veins and as chalcopyrite-molybdenite
veins-veinlets. Mineralization is hosted within Porphyry X, a
crowded plagioclase porphyry of Cretaceous age (85.1Ma +- 1.1Ma),
characterized by well-defined stacked biotite, a feature typical of
mineral-related porphyry phases. Mineralization is also hosted in
hornfels of Triassic Stuhini Group sedimentary rocks, which are
intruded by the porphyry phases.
Camp Creek Results - Previously Reported
Highlights
- Hole THN19-150
yielded 554.7m of 0.57 g/t Au, 43.2 g/t Ag, 0.24% Cu or 0.9% CuEq
- Including 136m
of 1.35 g/t Au, 133.62 g/t Ag, 0.31% Cu or 2.1% CuEq
- Hole THN21-184
which yielded 821.25m of 0.24% Cu, 0.28 g/t Au, 2.44 g/t Ag, 174
ppm Mo or 0.48% CuEq
- Including
318.25m of 0.92% CuEq
- Hole THN22-201
that returned 967.71m of 0.25% Cu, 0.09 g/t Au, 2.39 g/t Ag, 186
ppm Mo or 0.38% CuEq
- Including 150m
of 0.87% CuEq
Copper Equivalent (CuEq) are calculated based on
US$ 4.30/lb Cu, US$ 1820.00/oz Au, US$ 23.80/oz Ag, $US 18.00/lb Mo
and a 95% recovery. The formula is: CuEq % = (Cu % + (0.617248 * Au
g/t) + (0.008072 * Ag g/t) + (0.000419 * Mo ppm)) * 0.95
The Trapper Gold Target
The objective of further drilling at the Trapper
Gold Target is to expand the gold mineralization along strike and
at depth, as well as testing sub-parallel structures to the north
and south of the main target area. Overall, the gold zone strikes
west-northwest, defined over 400 meters, dipping moderately to the
north, controlled by the contact between the quartz diorite and the
lapilli tuff volcanic rocks. Follow-up work is planned around
multiple untested surface gold anomalies that have been identified
up to 500m away from the main drilling area. Additional plans
include testing several copper surface anomalies peripheral to the
gold zone for a copper porphyry link to the Trapper Gold
Target.
Please see the Trapper 3D model at the following
link: 3D Trapper video
Gold mineralization at the Trapper Target is
considered to be intermediate sulphidation epithermal style,
associated with base metals veins that suggests copper porphyry
affinity. The geochemical footprint was expanded in 2021 to 4km by
1.5km. Gold mineralization is structurally controlled with
northwest, east-west and northeast trends that have been
identified. Mineralization appears to favour the contact between
the Cretaceous (85.2 +/- 1.2Ma) quartz diorite and the Triassic
lapilli tuff volcanic rocks, with broad gold intervals largely
hosted within the quartz diorite unit. Visible gold has been
identified in core and surface outcrops. Rock grab samples from
outcrop have returned up to 152 g/t Au. Gold is associated with
silver and base metal veins as pyrite-galena-sphalerite +/-
chalcopyrite +/- bornite, quartz-stockwork, sulphosalt-pyrite
veinlets and is disseminated within the diorite. In 2021-2022,
Brixton drilled a total of 12,226 meters at Trapper. In 2011, the
previous operator drilled 8,581m where drill hole TG11-11 returned
32.64m of 1.78 g/t Au including 0.41m of 92.8 g/t Au with visible
gold in a strong quartz stockwork zone.
Trapper Drill Results - Previously
Reported Highlights
- Holes THN22-205 which yielded 64m
of 5.74 g/t Au
- Including 52.00m of 6.97 g/t
Au
- Including 28.95m of 10.36 g/t
Au
- Hole THN22-237 yielded 304.46m of
1.19 g/t Au
- Including 84.00m of 3.10 g/t
Au
- Hole THN22-243 returned 398.30m of
0.95 g/t Au**
- Including 113.57m of 2.43 g/t
Au
- Including 6.57m of 26.54 g/t
Au
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.
Gold mineralization at the Trapper Target has
been drilled to a vertical depth of 398m (a vertical depth of 286m
from surface) and along strike for 400m. The true width of the zone
has yet to be determined.
** Drill hole THN22-243 assay values from
the news release dated January 9th, 2023 were under-reported as
398.30 of 0.85 g/t Au, including 113.57m of 2.10 g/t Au including
6.57m of 20.71 g/t Au. The error was a result of a discounted drill
core sample that had previously been mislabeled as a laboratory
QAQC sample with zero value.
Geochemical Surveys
Geochemistry has proven to be an effective tool
for identifying prospective drill targets on the Thorn Project. An
abundance of strong copper-gold numbers were returned across
several target areas from the 2022 field program. For 2023, an
estimated 2000 soil samples and 1000 rock samples are planned to be
collected to further define targets for future drilling. Brixton
plans to continue employing on-site XRF analysis to identify real
time copper anomalies for immediate follow up. The XRF work will
expedite results and reduce the number of samples that are sent to
the laboratory for multi-element analysis. Targets for geochemical
coverage this season include the following: North, West, Metla,
Val, East, Molly Valley, Trapper and South Targets. Soil grids are
planned for prospective areas and reconnaissance soils will be
collected along contours. Where soil development is poor, talus
fines will be collected.
For more information on all of the Targets on
the Thorn, please see the following link: TARGETS
About the Thorn Project
The wholly-owned 2,863 square kilometer Thorn
Project is located in British Columbia, Canada, approximately 90 km
northeast 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 trend of Triassic to Eocene, volcano-plutonic
complex and related sedimentary units 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: Thorn Cu-Au Targets
Further ground MT and airborne Mobile MT
(includes magnetics) surveys are planned over the North Target and
Metla Targets which are designed to tie into and expand coverage
from the previous surveys over Camp Creek and Trapper areas.
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 information 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 toward
feasibility. Brixton wholly owns four exploration projects:
Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the
Atlin Goldfields Projects located in northwest BC (Optioned to
Pacific Bay Minerals), the Langis-HudBay silver-cobalt-nickel
Project in Ontario, and the Hog Heaven copper-silver-gold Project
in NW Montana, USA (Optioned 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.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEOTel:
604-630-9707 or email: info@brixtonmetals.comFor Investor
Relations, please contact:
Neil MacRae, Investor RelationsTel: 604-630-9707
or email: neil.macrae@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.
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1a1cd5d2-e1eb-4083-a864-ba3d4d2ca4ea
Brixton Metals (TSXV:BBB)
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から 12 2023 まで 12 2024