Brixton Metals Mobilizes Crews for Drilling on its Cobalt Targets in Ontario
Brixton Metals Mobilizes Crews for Drilling on its Cobalt Targets in Ontario
VANCOUVER, BC – (Marketwired – January 9, 2018) – Brixton Metals Corporation (TSXV: BBB)
(the “ Company ” or “ Brixton ”) is pleased to announce that, following the completion of its $3 million
private placement, the Company has commenced drilling at its Langis and Hudson Bay projects
located in the Cobalt Camp of Ontario, Canada. Drilling is currently underway and is focusing on
high grade cobalt and silver targets as extension of the underground workings and newly identified
structural targets. The Company is planning to drill 10,000 to 15,000 metres on the two brownfield
mine projects combined.
Target Highlights
➢ Historically the Langis Mine produced 0.36M pounds of cobalt and 10.4Moz silver to depths of
150 metres;
➢ Historically the Hudson Bay Mine produced 0.186M pounds of cobalt and 6.4Moz of silver to
depths of only 60 metres;
➢ Assays from 4 samples in 2017 returned 10 to 16 percent cobalt and 2 to 18 percent silver as
disclosed in Brixton’s News Release dated August 17, 2017;
➢ Past production was focused on high grade silver veins and the high-cobalt low-silver veins that
were encountered underground and were not mined in many areas of the Langis mine;
➢ The project has excellent local infrastructure; year-round road access, close proximity to power,
railway, gas - pipeline, small scale mills, a refinery and assay lab.
Chairman and CEO of Brixton, Gary R. Thompson stated, “We believe that these high potential
brownfield projects provide a very interesting opportunity for shareholders of Brixton to benefit from
the strong demand for battery metals. The Company anticipates a good amount of news flow in the
coming months from its activities.”
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 mine 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 oz of silver production and including nickel and copper
by-products.
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.
The Company granted 2,015,000 incentive stock options to directors, employees and consultants
to the Company under the Company’s stock option plan at exercise price of $0.30. The term of the
options is 10 years and all options vest immediately.
About Brixton Metals Corporation
Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada
and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper
project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects,
"Thorn (Golden Triangle)" and "Atlin" in British Columbia, Canada and lastly, two past producing
high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with
excellent infrastructure and are located in Ontario, Canada. The Company is actively seeking JV
partners to advance one or more of its projects.
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
Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email: [email protected]
For Investor Relations, please contact Mitchell Smith: [email protected] or
604-630-9707.
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 amount of drilling to be completed and the exploration
potential of the property based on resources estimates 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 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.