VANCOUVER, Nov. 5, 2012 /CNW/ - Brixton Metals Corporation (TSXV: BBB)
(the "Company" or "Brixton") is pleased to announce the completion of the phase two, 2012 drill
program and soil sampling program at its Thorn project, located in
Northwest British Columbia. A total of 1,738m were drilled in 13 NQ
diamond drill holes. The depth of the holes ranged from 45m to 338m.
Additional drill results from holes THN12-81,82 and 84 - 87 as well as
soil sample results are pending and shall be released upon receipt from
the laboratory.
Highlights
-
THN12-83 intersected 73.70m of 466.28g/t AgEq (284.15g/t Ag, 1.49g/t Au, 1.31% Pb and 1.78% Zn) within a broader
interval of 150.50m of 314.59g/t AgEq (165.30g/t Ag, 1.37g/t Au, 0.92% Pb and 1.25% Zn)
-
Established a newly interpreted true width zone of 100m, a depth of 300m
and a minimum strike length of 130m
-
Recent drilling has expanded the high-grade mineralization at the Oban
breccia zone at depth to the south-southeast by 70m
Mr. Gary R. Thompson, Chairman and CEO stated, "Drilling continues to
produce high-grade intercepts near surface and at depth at the Oban
breccia zone, with hole THN12-83 returning impressive gold-silver
results. The Oban zone appears to be developing into a zone with a much
larger scale potential than previously thought and clearly remains open
in several directions."
To view the drill location plan map click this link
The high grade mineralization occurs as phases of up to massive
sulphides and sulphosalts as breccia matrix. Mineralization also occurs
as disseminated, veinlet to crackle style breccia. The dominant
minerals are pyrite, tetrahedrite, sulfosalts, sphalerite, galena and
chalcopyrite. Within the breccia matrix these infill minerals form
layered rims around breccia fragments. The nature of the mineralization
appears to be sub-vertical to sub-horizontal and locally structurally
controlled.
Hole THN12-83 was collared at the Oban breccia zone at an elevation of
894m and drilled at an azimuth of 170 degrees with a dip of -50 degrees
to a depth of 209.70m. Hole THN12-83 extended mineralization by
approximately 70m in a south-southeast direction from any previously
known mineralization and established a true thickness of approximately
100m, based on its position relative to previous intercepts. Grades are
uncut and include up to 2,650g/t Ag and 9.21g/t Au.
Hole ID | From | To | Interval | Silver | Gold | Copper | Lead | Zinc | AuEq | AgEq |
| (metre) | (metre) | (metre) | g/t | g/t | % | % | % | g/t | g/t |
THN12-83 |
24.00
|
174.5
| 150.50 |
165.30
|
1.37
|
0.11
|
0.92
|
1.25
| 5.67 | 314.59 |
Including
|
24.00
|
97.70
| 73.70 |
284.15
|
1.49
|
0.12
|
1.31
|
1.78
| 8.41 | 466.28 |
Including
|
49.00
|
62.00
| 13.00 |
725.55
|
2.01
|
0.13
|
3.33
|
3.68
| 18.89 | 1047.54 |
To view cross-section of the recent drilling click on this link
Hole THN12-80 was collared near the boundary of the Oban breccia zone at
an elevation of 915m and drilled at an azimuth of 325 degrees with a
dip of -80 degrees to a depth of 166.62m. Hole THN12-80 encountered new
mineralization to the northeast of the Oban breccia zone. Interestingly
this new mineralization is hosted within the Thorn porphyry which
extends beyond the Oban breccia zone.
Hole ID | From | To | Interval | Silver | Gold | Copper | Lead | Zinc | AuEq | AgEq |
| (metre) | (metre) | (metre) | g/t | g/t | % | % | % | g/t | g/t |
THN12-80
|
104.50
|
111.50
|
7.00
|
162.94
|
0.34
|
1.24
|
0.07
|
0.14
|
5.89
|
326.71
|
including
|
108.50
|
110.50
|
2.00
|
500.00
|
0.69
|
4.03
|
0.11
|
0.22
|
18.01
|
998.58
|
THN12-75 to THN12-79 returned no significant results. These holes were
designed to test easterly extension of surface mineralization and were
only drilled into the Thorn porphyry to a maximum depth of 57m;
however, based on the results encountered at Hole THN12-83 we now
realize that deeper drilling was required to further test
mineralization at depth.
To view photographs of the core please click on this link
A total of 362 soil samples were collected in the drainage area of the
Amarillo Creek where a float boulder of 265g/t Au and 631g/t Ag was
discovered.
To view a soil locations/alteration map click on this link
Corporate Update
Brixton has appointed Mr. Sorin Posescu, P.Geo., as Vice President of
Geology. Mr. Posescu had been working for Brixton as a consulting
geologist since 2010 and brings 17 years of exploration experience to
the group. Mr. Posescu was a former project geologist for NovaGold
Resources, Sierra Geothermal Power and OMV-Petrom.
Quality Assurance & Quality Control
Mr. Sorin Posescu, P. Geo., prepared a QAQC protocol for the Company and
oversaw sampling procedures. Ms. Caroline Vallat, P.Geo., from GeoSpark
Consulting Inc. conducted an independent QAQC review which returned
strong accuracy of the analytical results. Sealed samples were shipped
by the Company geologists to ALS Minerals preparation lab in
Whitehorse, Yukon. ALS Minerals laboratories are registered to ISO
9001:2008 and ISO 17025 accreditations for laboratory procedures.
Blank, duplicate and certified reference materials were inserted into
the sample stream. Analysis for gold was done by Fire Assay with AA
finish. All other elements were analyzed by Aqua Regia Digest with
ICP-AES finish. Silver over-limits were analyzed by fire assay with
gravimetric finish. Base metal over-limits were analyzed with Aqua
Regia Digest and AA finish. A copy of the QAQC protocols can be viewed
at the Company's website.
Silver equivalent (AgEq) values were calculated using $1,088 per ounce
of gold, $19.62 per ounce of silver, $3.20 per pound for copper $0.80
per pound of lead, $0.80 per pound of zinc, all with 100% metal
recoveries assumed.
AgEq = Ag g/t + (Au g/t x 34.98/0.63) + (Pb% x 17.64/0.63) + (Zn% x
17.64/0.63) + (Cu% x 70.55/0.63)
Mr. Sorin Posescu, P. Geo., is a Qualified Person as defined under
National Instrument 43-101 standards and has reviewed and approved this
news release.
About The Thorn Project
The 28,000 hectare Thorn Property is located 130 km southwest from the
village of Atlin in Northwestern British Columbia, Canada, between the
past producing Golden Bear Mine and Chieftain Metals' Tulsequah Chief
Mine development. The geology of the Thorn project straddles a bimodal
Late Cretaceous to Eocene volcano-plutonic complex and Upper Triassic
to Middle Jurassic Stuhini Group submarine volcanic and sedimentary
rocks. The Oban breccia zone is located in the heart of a 6 km
mineralized corridor which is 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 percent or 65 percent interest by making
cash and share payments and incurring five million dollars and ten
million dollars 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 where Brixton may increase its ownership. Brixton
shall be the operator in either case.
About Brixton Metals Corporation
Brixton is an exploration company engaged in the acquisition and
exploration of precious and base metal assets with the intention of
advancing any properties of merit to commercial feasibility. Brixton
Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
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
including, without limitation; statements about the planned exploration
programs and uncertainties related to the outcome of exploration
programs, are forward-looking statements. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors
include, among others, the following risks: the need for additional
financing; operational risks associated with mineral exploration;
fluctuations in commodity prices; title matters; environmental
liability claims and insurance; reliance on key personnel; the
potential for conflicts of interest among certain officers, directors
or promoters with certain other projects; the absence of dividends;
competition; dilution; the volatility of our common share price and
volume and the additional risks identified the management discussion
and analysis section of our interim and most recent annual financial
statement or other reports and filings with the TSX Venture Exchange
and applicable Canadian securities regulations. Forward-looking
statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and Brixton 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.
SOURCE: Brixton Metals Corporation
<p> </p> <p> Mr. Gary R. Thompson, P.Geo., Chairman and CEO,<br/> Tel: 604-630-9707 </p>