VANCOUVER, Oct. 2, 2012 /CNW/ - Brixton Metals Corporation (TSX-V: BBB)
(the "Company" or "Brixton") announces the start of its Phase two, 2012 drill program at the Thorn
Ag-Au-Pb-Zn-Cu project located in Northwestern British Columbia,
Canada.
Crews were mobilzed to the Thorn Project on September 28th, 2012. The current phase of exploration will focus on drilling at the
Oban breccia zone and soil sampling in the upper Amarillo creek
drainage area.
The Oban breccia zone drill program is designed to test the extension of
high grade silver-gold-lead-zinc mineralization and shall consist of
1500m to 2000m of drilling, with holes ranging from 50m to 300m in
depth.
The Amarillo area being surveyed will include an area that Brixton has
recently acquired multispectral Aster data for, which shows a broad
area of alunite and illite alteration. This area is the headwaters for
Amarillo creek where prospecting in 2005 discovered a float boulder
returning 265 g/t Au and 631 g/t Ag which has not yet been followed up.
Oban Zone Highlights:
-
Hole THN11-60 intersected 9.25m of 3,646 g/t AgEg (2,984.40 g/t Ag, 3.04
g/t Au, 11.65% Pb, 3.42% Zn and 0.53% Cu) near surface, within a
broader interval of 95.08m grading 904.0 g/t AgEq (628 g/t Ag, 1.71 g/t
Au, 3.31% Pb and 2.39% Zn)
-
Hole THN11-57 showed increasing Au and Cu grades at depth within the
Oban breccia zone, exemplified by the intersection of 7.80m grading
717.0 g/t AgEq (197 g/t Ag, 6.13 g/t Au, and 1.38% Cu) within a broader
interval of 18.58m grading 453.0 g/t AgEq (103 g/t Ag , 4.1 g/t Au, and
0.93% Cu) starting at a vertical depth of 201m below surface
-
Hole THN12-65 intersected 12.90m of 769.42 g/t AgEq (512.66 g/t Ag, 1.72
g/t Au, 4.24% Pb and 1.54% Zn) with a broader interval of 83.90m
grading 296.50 g/t AgEq (161.81g/t Ag, 1.03 g/t Au, 1.29%Pb and 1.49%
Zn)
To view a preliminary model of the Oban breccia zone click on http://brixtonmetals.com/videos/ and play the first video on the screen. (Please note that the grade
shells in this model were determined using Leapfrog software with a
Log-RBF interpolation function and are not to be viewed as a resource
estimate at this time.)
Other Significant Highlights at Thorn:
-
Mineralization expansion at the Taliskerzone from 200m to 500m strike length, where the best intersection found
grades of 407.90 g/t Ag, 4.44 g/t Au and 2.95% Cu over 4.20 m in hole
THN05-37
-
Hole THN11-56 confirmed the presence of unconformity-related
mineralization intersecting 0.9m grading 12.35 g/t Au, 138 g/t Ag and
0.49% Cu within 19.78m of 35.5 g/t Ag, 1.02 g/t Au and 0.3% Cu
-
Discovery of the Lagavulin Vein where hole THN11-54 intersected 4.85m of
3.13 g/t Au and 122.46 g/t Ag. The Lagavulin Vein has a strike length
greater than 2km and crosscuts the Talisker zone trend
-
Hole THN11-45 intersected 0.74m of 4.14% Cu, 384 g/t Ag and 1.22 g/t Au
on the MP Vein.
Mr. Gary R. Thompson, Chairman & CEO stated, "We are excited to be back
on the property continuing our exploration efforts at the Thorn
project. While numerous targets remain untested on the property our
current focus is the high grade at the Oban breccia zone."
About The Thorn Project
The 25,000-hectare Thorn Property is located in the Sutlahine River area
of Northwestern British Columbia, Canada approximately 50km from the
past producing Golden Bear Mine. Thorn is a Cretaceous porphyry complex
that shares many similarities with other high sulphidation epithermal
gold, silver and copper deposits around the world such as Lepanto in
the Philippines and El Indio in Chile. There are several separate
porphyry intrusive phases and at least one related breccia body outcrop
on the property. In addition to the high-grade potential of the Thorn
project, the geological setting indicates potential for porphyry type
mineralization. The Oban Zone Ag-Au-Pb-Zn-Cu breccia-hosted
mineralization is located in the heart of a 6km mineralized corridor
within the central portion of the property. Brixton Metals Corporation
holds a two-phase option agreement with Rimfire Minerals Corporation
(now Kiska Metals Corporation). Brixton can earn either a 51% or 65%
interest by making cash and share payments and incurring $5 million and
$10 million in exploration expenditures respectively. Kiska may elect
to form a Joint Venture with Brixton at the 49/51 or 35/65 stage, or
take dilution. Brixton shall be the operator in either case.
About Brixton Metals
Brixton Metals is an exploration company engaged in the acquisition and
exploration of precious metal assets. Brixton's main objective of
building shareholder value will be executed by identifying projects
that exhibit favourable geology, and advancing those projects to
feasibility. Brixton Metals Corporation shares trade on the TSX-V under
the ticker symbol BBB and its warrants trade under the symbol BBB.WT.
For more information about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, P.Geo, Chairman and CEO
(604) 630-9707
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",
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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
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SOURCE: Brixton Metals Corporation
<p> Carrie Sikman, Investor Relations Manager<br/> 604 630 9707<br/> <a href="mailto:carrie.sikman@brixtonmetals.com" target="_blank">carrie.sikman@brixtonmetals.com</a> </p>