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Brixton Metals Drills 248.05m of 0.60% CuEq within 717.00m of 0.50% CuEq at the Camp Creek Target on its Thorn Project

2023-12-13 07:30 ET - News Release

VANCOUVER, British Columbia, Dec. 13, 2023 (GLOBE NEWSWIRE) -- 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

  • THN23-285 intersected 717.00m of 0.50% CuEq (0.20% Cu, 0.05 g/t Au, 1.92 g/t Ag, 458 ppm Mo)

    • 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.

Figure 1 NR_13Dec2023

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.

HoleFromToIntervalCu (%)Au (g/t)Ag (g/t)Mo (ppm)CuEq (%)
THN23-28537.501602.001564.500.150.082.092460.35
including173.00174.001.000.0310.3976.82107.69
and including426.001602.001176.000.190.071.963240.44
including807.001309.80502.800.290.072.733420.55
and including885.001602.00717.000.200.051.924580.50
including885.001133.05248.050.370.103.322550.60
and including1159.201309.80150.600.250.032.276380.64


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.

Figure 2 NR 13Dec2023

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 3 NR 13Dec2023

Figure 4. Cross Section of the Camp Creek Drill Target.

Figure 4 NR 13Dec2023

Table 2. Select Mineralized Intervals.

HoleFromToIntervalCu (%)Au (g/t)Ag (g/t)Mo (ppm)CuEq (%)
THN23-277317.001041.00724.000.130.052.85660.22
including 445.501041.00595.500.150.062.31800.24
including 556.271041.00484.730.150.062.27920.26
including 646.501041.00394.500.160.062.27930.27
including 957.001041.0084.000.250.093.781420.42
         
THN23-276382.521470.001087.480.090.031.82520.15
including 595.001447.00852.000.100.031.63650.17
including 815.001321.00506.000.130.041.72840.21
including 940.001321.00381.000.150.041.35930.23
including 940.00974.4134.410.300.092.991690.47
and including 1289.501321.0031.500.200.061.542880.41
         
THN23-26342.001425.001383.000.050.042.44180.11
including 699.001425.00726.000.090.032.31320.14
including 1063.001425.00362.000.120.031.81520.18
including 1236.001425.00189.000.150.031.90650.21
including 1270.501425.00154.500.170.032.12740.24
including 1306.001425.00119.000.200.032.50830.28


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 5 NR 13Dec2023

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.

Figure 6 NR 13Dec2023

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.

Hole IDEastingNorthingElevation (m)AzimuthDipDepth (m)Zone
THN23-2636284256492218828105-831425Camp Creek
THN23-2766286146492065773216-821470Camp Creek
THN23-2776281396491800774343-801041Camp Creek
THN23-2856278766491944672110-841602Camp Creek


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.

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 inquiries, please contact: Mr. Jason Shepherd, VP Investor Relations
Tel: 604-630-9707 or email: jason@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.

Figures accompanying this announcement are available at:

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