Brixton Metals Commences Drilling at its Thorn Project, Provides Exploration Update on its Atlin Goldfields Project and Grants Incentive Options
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Brixton Metals Commences Drilling at its Thorn Project, Provides Exploration Update on its
Atlin Goldfields Project and Grants Incentive Options
VANCOUVER, BC – (August 27, 201 9) – Brixton Metals Corporation (TSXV: BBB) (OTCQB:
BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has commenced phase two
exploration program at its Thorn P roject located in Northwest British Columbia consisting of
approximately 7,000 to 10,000 metres of HQ and NQ size core drilling with two drills on 2 distinct
porphyry targets within the Camp Creek Copper Corridor and the Chivas zone. The Company will
also conduct approximately 25 line kilometers Titan DCIP and MT geophysical survey at the Camp
Creek Corridor with the objective of imaging a target depth of 1.0 to 1.5km.
Chairman and CEO of Brixton Metals, Gary R. Thompson stated previously, “We look forward to
unlocking the mountain of value at the Thorn Project.”
The Company staked an additional 862 square kilometres of mineral claims for a new total mineral
claim area of 1,858 square kilometres of wholly owned tenure.
Click here for link to Figure 1. Brixon’s Updated Claim Block
Update on the Atlin Goldfields Project
During May 2019 to July 2019, Brixton Metals completed a drilling program at the Pictou and LD
Zones, rock sampling and prospecting.
Summary of work completed
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- 22 shallow NQ sized core holes were completed for a total of 1,618m with 4 holes at the
Pictou showing and 18 at the LD showing area
- 1,965 line-kilometres of helicopter-borne magnetic geophysical survey
- Construction on a new 35-person exploration camp located at the Yellowjacket Mine
- A total of 1,395 soil samples and 139 rock samples were collected
The results will be released as they become available. Crews have been moved to the Thorn
Project.
Mr. Sorin Posescu, P.Geo, Vice President Exploration for Br ixton Metals and a Qualified Person
as defined under National Instrument 43 -101 standards and has reviewed and approved the
technical information in this news release.
Corporate Update
The Company also announces the grant of incentive stock options to its directors, officers,
employees and consultants for an aggregate amount of 4,300,000 (the “Options”). These Options
are exercisable at $0.30 per share for a period of 10 years and are subject to provisions of the
Company’s stock option plan as approved by its shareholders and the Annual General Meeting.
Members of the Compensation Committee and Board of Directors approved the Stock Option grant
in order to:
1) Reward long serving members of the Brixton team for new discoveries at the Thorn Project,
which the Company has owned for 9 years;
2) Retain the required talent that will be needed to advance the Company’s exploration projects.
With the rise in gold prices, the Compensation Committee and Board of Directors believe there
appears to be a tightening in the mining labour market and wanted to ensure the Company has the
required skilled personnel to advance the project in a professional and responsible manner;
3) The Company granted options to individuals that will have a direct impact on the potent ial
growth of new discover ies. Every person who received options will be directly involved in the
potential growth and de -risking of Brixton’s assets. The decisions of these individuals will have a
direct impact on the value of each shareholders’ investment.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its
gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn
copper-gold-silver and the Atlin Goldfields projects located in NWBC, the Langis -Hudson Bay
silver-cobalt project in Ontario and the Hog Heaven silver -gold-copper project in NW Montana,
USA. Brixton Metals Corporation shares trade on the TSX -V under the ticker symbol BBB and on
the OTCQB under ticker symbol BBBXF. For more information about Brixton please visit our
website at www.brixtonmetals.com.
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On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: [email protected]
For Investor Relations please contact Mitchell Smith
Tel: 604-630-9707 or email: [email protected]
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 finan cial 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 pote ntial 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 exploration potential of the Thorn project and the Atlin
Goldfields project and the proposed work programs at its Thorn and the Atlin Goldfields projects . 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 identif ied 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.