07:21:03 EDT Fri 24 May 2024
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Brixton Metals Corp (2)
Symbol BBB
Shares Issued 380,850,055
Close 2023-05-17 C$ 0.155
Market Cap C$ 59,031,759
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Brixton Metals begins drilling Thorn

2023-05-17 07:33 ET - News Release

Mr. Gary Thompson reports


Brixton Metals Corp. has commenced drilling for the 2023 exploration program at its flagship Thorn project located along the northwestern extent of the Golden Triangle trend in British Columbia. The program is fully financed and was planned through the joint technical committee between the company and the company's 19.9-per-cent strategic investor, BHP. The 2023 program will focus on drilling the Camp Creek copper porphyry target and the Trapper gold target. The two targets form an eight-kilometre mineralization trend. Additionally, plans are to drill-ready high-priority copper targets on the Thorn project through geochemical and geophysical surveys.

Vice-president of exploration Christina Anstey stated: "We are excited to have an early start to our exploration season. Our first priority will be focused on the Camp Creek copper dominant porphyry target followed by the Trapper gold target later in the campaign. We are keen to expand on the known high-grade mineralization and test interpreted extents at both targets throughout the season."

Camp Creek copper-gold-silver-molybdenum porphyry 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 large stepout holes. Drilling is currently under way with two drills set up at the Camp Creek target. Brixton plans to drill eight to 10 deep holes targeting the copper dominant porphyry this season. The minimum footprint of this target is one km by one km with potential for up to two km strike. Drill hole target depths at Camp Creek are a minimum of 1,200 m.

Results from the 2022 drill program continued to demonstrate the potential for broad intercepts of nearly 1,000 m of copper mineralization, which remains open in all directions.

The Trapper gold target

The company anticipates drilling at the Trapper gold target in early to mid-June as the winter snowpack retreats. 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 subparallel structures to the north and south of the main target area. Over all, the gold zone strikes west-northwest, defined over 400 metres, dipping moderately to the north. The contact between the quartz diorite and the lapilli tuff volcanic rocks seems to be an important control on mineralization. Follow-up work is planned around multiple untested surface gold anomalies that have been identified up to 500 m 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.

Atlin goldfields project update

Pacific Bay Minerals Ltd. and Brixton have agreed to amend the terms of the definitive option agreement entered into by the parties on May 4, 2022, enabling Pacific Bay to acquire up to a 100-per-cent interest in the Atlin goldfields property in Northern British Columbia.

The $200,000 cash payment that was due on May 4, 2023, may now be paid by Pacific Bay on the earlier of July 10, 2023, or five days following the completion of a private placement financing by the company. The amendment also permits Pacific Bay to complete the required $500,000 in year one expenditures during the second year of the agreement. The one million Pacific Bay shares payable to Brixton under the option agreement have been received.

Qualified person

Gary R. Thompson, PGeo, is chairman, chief executive officer and president for the company and a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the data disclosed herein and has approved the technical information in this press release.

About Brixton Metals Corp.

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 B.C. (optioned to Pacific Bay Minerals), the Langis-HudBay silver-cobalt-nickel project in Ontario and the Hog Heaven copper-silver-gold project in northwestern Montana, United States (optioned to Ivanhoe Electric Inc.).

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