Brixton Metals Drills 1% Cobalt, 0.95% Copper, 0.72% Nickel, 11.1 g/t Silver over 0.8 metres at its Hudson Bay Project in the Cobalt Camp, Ontario
Brixton Metals Drills 1% Cobalt, 0.95% Copper, 0.72% Nickel, 11.1 g/t Silver over 0.8
metres at its Hudson Bay Project in the Cobalt Camp, Ontario
VANCOUVER, BC – (Marketwired – February 20, 2018 – Brixton Metals Corporation (TSXV: BBB)
(the “ Company” or “ Brixton”) is pleased to announce initial drill results from its wholly owned
Hudson Bay project located in the Cobalt Camp, Ontario.
Highlights from the first three holes drilled
• Drill h ole HB18 -01 intersected 1.00% Co, 11. 10 g/t Ag, 0.95 % Cu and 0.7 2% Ni or
1.25% CoEq over 0.80 metres from 52.20m depth
• Drill hole HB18-03 intersected 0.28% Co (0.34% CoEq) over 1.83 metres from 53.17m
depth
A summary table of assay results from the first three holes:
Hole ID From To Interval Co (%) Ag (g/t) Ni (%) Cu (%) CoEq (%)*
HB18-01 52.20 53.00 0.80 1.00 11.10 0.72 0.95 1.25
HB18-02 18.00 31.00 13.00 - 16.20 - - -
HB18-03 53.17 55.00 1.83 0.28 8.30 0.15 0.18 0.34
*Cobalt Equivalent values (CoEq) were calculated using the formula CoEq = $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x
2204.63 + $28 x % Co ÷ 100 x 2204.63 + $5.50 x % Ni ÷ 100 x 2204.63 ÷ $28 ÷ 2204.63*100. This method assumes full
metal recoveries. Metal prices use d in this calculation include: $17 per ounce for Ag, $3 per pound for Cu, $5.5 per
pound for Ni and $28 per pound for Co. The true width of the veins has not been determined at this time.
Chairman and CEO of Brixton, Gary R. Thompson stated, “ This drill program is our first cobalt
targeted campaign and we are encouraged by these initial results . The Hudson Bay Mine was a
high-grade silver mine with cobalt produced as a by -product. These early drill results confirm the
presence of high cobalt, l ow silver veins in the area. We are excited to continue our drilling i n the
Cobalt Camp for both high-grade cobalt and silver.”
To date, the Company has drilled approximately 1,500 metres at Hudson Bay. Drilling was
designed to test possible extensions of the previously mined cobalt and silver mineralization. The
first three holes have been successful in identifying cobalt and silver mineralization.
The assay results disclosed in this news release represent assays received for t he first three holes
(489 metres) with the rest of the assays 7 holes pending.
Hole HB18-01 intersected 1.00% Co, 11.10 g/t Ag, 0.72% Ni and 0.95% Cu over 0.80 metres from
52.20 meters. The hole was drilled to a total depth of 177 metres (Az imuth: 1900, DIP: -400).
Mineralization generally consists of cobalt and nickel minerals as disseminated, veinlets to
centimetres wide veins and is hosted in locally brecciated and chloritized cherty mafic-intermediate
pillows (Archean Volcanics). Locally, pyrite, chalcopyrite and sphalerite are also present.
Hole HB18-02 returned 13.00 metres of 16.20 g/t Ag starting at 18.00 metres. The hole was drilled
to a depth of 120 metres (Azimuth: 165 0, DIP: -390). Mineralization consists mainly of silver
minerals with elevated cobalt values of up to 804 ppm (0.08%) and is hosted by the Huronian
conglomerate sedimentary unit.
Hole HB18-03 returned 0.28% Co, 8.30 g/t Ag, 0.15% Ni and 0.18% Cu over 1.83 metres starting
at 53.17 metres. The hole was drilled to a total depth of 192 metres (Azimuth: 1850, DIP: -380). The
hole was designed to test the extension on strike of the cobalt mineralization intersected in Hole
01. The cobalt mineralization is hosted in locally brecciated and chloritized cherty mafic -
intermediate volcanic pillows and consists of disseminated cobalt minerals as well as fine -to-
medium grained intergrown cobalt minerals accumulated along pink carbonate -quartz vein walls.
Fine grained disseminated chalcopyrite and nickel minerals are observed throughout brecciated
and sheared host rock proximal to veinlets.
(Hudson Bay Location Map)
(Hudson Bay Drilling Plan View)
(Hudson Bay Cross Section)
Quality Assurance & Quality Control
Sealed samples were shipped by the Company geologists to ALS M inerals preparation lab in
Sudbury, Ontario. 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 fin ish. All other
elements were analyzed by Aqua Regia Digest with ICP -AES finish. Cobalt over -limits were
analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire
assay with gravimetric finish. Base metal over -limits were analyzed with Aqua Regia Digest and
AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.
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 Langis and Hudson Bay Silver – Cobalt Project
Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north
from Toronto, Ontario, Canada. The cobalt -silver mineralization occurs as steeply -moderately and
in some cases shallow dipping veins within any of the three main rock types; Archean volcanics,
Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver
at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay min e produced 6.4 Moz of silver
at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds
of cobalt as a by -product of 500M ounces of silver production and including nickel and copper by -
products.
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
gold-silver and the Atlin go ld 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. The
Company is actively seeking JV partners to advance one or more of its projects.
Brixton Metals Corpor ation 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
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 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, inc luding 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 his torical fact included herein
including, without limitation, statements regarding the use of proceeds , TSXV final approval, and the exploration
potential of the Hog Heaven project based on historical drill results and 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 ac hievements 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 m atters; 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.