Brixton Metals Summarizes 2020 Results and Outlines 2021 Plans
Brixton Metals Summarizes 2020 Results and Outlines 2021 Plans
VANCOUVER, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) - Brixton Metals Corp. (TSX: BBB,
OTCQB: BBBXF) is pleased to provide highlights of the results of its 2020 exploration activities and
outlines its 2021 exploration plans to advance the district-scale Thorn Project in the Golden Triangle of
BC, and its other wholly owned projects.
2020 Highlights:
• Discovered porphyry Cu-Au-Ag-Mo mineralization at the Camp Creek Target, Thorn Project
• Added 7 new large-scale Cu-Au targets at the Thorn Project
• Expanded the Thorn Project to 2600 square kilometers, the largest in the Golden Triangle
• Entered into a USD$44.5M Earn-in-JV with HPX on the Hog Heaven Project
• Started a 20,000m drill program at the Langis Ag-Co Project
• A rock grab sample returned 53.6 g/t Au from the Atlin Goldfields Project
• Strengthened the board and management team
• Ended the year with approx. $9.3 million in the treasury
Chairman and CEO Gary R. Thompson stated, “We are pleased with the results from the 2020 exploration
season and ending the year with a strong treasury. The year of 2021 is shaping up to be a transformative
one for Brixton. The Company is position ed to achieve rapid growth with its attractive wholly owned
portfolio of copper -gold-silver exploration projects, anticipated rising metals prices, increasing investor
interest and the rapidly growing electrification movement globally , which is poised to drive coppe r
demand to new heights.”
2021 Objectives
• Follow-up deep drilling at the Camp Creek porphyry Cu-Au-Ag-Mo discovery
• Follow-up shallow drilling at the Trapper and Outlaw gold targets and advance other targets
• Complete the ongoing 20,000m drill program for high-grade Ag-Co at the Langis Project
• Close on the formal Earn-in-JV agreement with HPX and commence exploration funded by HPX
targeting a copper-rich porphyry deposit
• Continue to explore strategic options for non-core assets
Thorn Cu-Au-Ag Project - Golden Triangle, BC
During the winter months of 2019 -2020 Brixton acquired ASTER and SENTINEL -2 satellite data and
processed it for alteration minerals over the entire Thorn Project. A further 150 historic assessment
reports were compiled for geochemical data resulting in an additional 10,524 soils, 486 silts and 3240
rocks assays.
The Company completed 12km of IP and downhole IP in holes 150 and 162 over the Camp Creek Target ,
and combined with the 2019 survey , mapped a large 3km by 2km opened ended chargeability high
anomaly that is open to depth. An airborne radiometric and magnetic survey was flown at the Metla and
West Targets which revealed large potassic-altered zones that are associated with the new copper-gold
anomalies. The Company conducted 596 square kilometers of LIDAR surveys.
During 2020 Brixton carried out property wide surficial geochemical surveys including the collection of
5,588 soil samples and 1,473 rock samples.
• 81 rock samples returned greater than 1 g/t Au and 5 samples were greater than 31 g/t Au
• 68 rock samples returned greater than 1% Cu and 4 were greater than 5% Cu
• 38 rock samples returned greater than 100 g/t Ag and 6 were greater than 1000 g/t Ag
• 1057 soils were above 30 ppb Au, 263 were above 100 ppb Au and 45 were above 500 ppb Au
• 2298 soils were above 100 ppm Cu, 148 were above 500 ppm and 40 were above 1000 ppm Cu
Property scale exploration resulted in highlighting a 75 -80km mineral trend , increasing the number of
large-scale Cu-Au targets from 3 previously to 9 currently : Camp Creek, Outlaw, Trapper, Metla, East,
South, North, West and Gold Bee targets.
The target with the greatest number of high-grade gold samples was the Trapper Target which had 10 of
the top 20 gold -in-rock samples and ranged from 6.0 g/t Au to 47.0 g/t Au. The highest gold value from
the 1473 rocks samples was collected from the Outlaw West Target, which returned 68.8 g/t Au.
The highest copper -in-rock sample was 7.2% Cu sourced from the Camp Creek area which also had 5
samples in the top 20 high -grade copper samples ranging from 4.5 % to 7.2% Cu. Three targets , namely
Camp Creek, Metla and East Target, had 5 samples in the Top 20 high-grade copper samples.
The Camp Creek Target returned the most high -grade silver hits, returning 14 of the Top 20 high -grade
silver samples ranging from 135.0 g/t Ag to 1890 g/t Ag. The highest silver-in-rock grade was 2890 g/t Ag,
which came from the Outlaw Target.
Thorn 2020 Drilling Highlights
Diamond drilling totaled 5,291m consisting of 16 holes over 2,788m at the Outlaw West and Central Zones.
The Central Outlaw Au-Ag stratiform type mineralization was extend ed to 600m along strike. Drilling at
the Camp Creek target consisted of 2,503m over 3 holes that intersected zones of shallow high -
sulphidation type mineralization and deep porphyry -style mineralization starting around 300 -400m
depth. The deepest hole was THN20-181 which drilled to 959.2m and ended in mineralization.
• THN20-181 intercepted Camp Creek porphyry mineralization; drills 439m 0.34% CuEq, including,
278m of 0.43% CuEq, including 105m of 0.60% CuEq with the bottom of the hole 6.2m of 2.27%
CuEq
Using the following metal prices (average daily prices during last 12 months) of Cu $/lb = 2.7, Au $/oz =
1759, Ag $/oz = 19.6, Mo $/lb = 11.2.
Gold-silver mineralization at the Outlaw Target is associated with disseminated to semi-massive pyrrhotite
and pyrite hosted in Trassic clastic sediments with weak to moderate alteration. Mineralization appears
to be causative with Jurassic felsic dykes.
• THN20-172 returned 12.4m of 1.4 g/t AuEq incl. 5m of 3.1 g/t AuEq at the Central Outlaw Zone
• THN20-177 cut 44m of 0.6 g/t AuEq, incl. 22m of 0.7 g/t AuEq incl.8m of 0.8 g/t AuEq at the Central
Outlaw Zone
• THN20-169 returned one meter of 8.7 g/t Au, 33.2 g/t Ag or 9.2 g/t AuEq at West Outlaw Zone
• THN20-165 returned 5.5m of 3.1 g/t AuEq from the Outlaw West Zone
Hog Heaven Ag-Cu-Au Project - Montana, USA
On October 27, 2020 Brixton announced that it entered into a binding Heads of Agreement, with respect
to a USD$44.5 million earn-in and joint venture on its wholly owned Hog Heaven Project with High Power
Exploration Inc. (“HPX”). HPX is a privately-owned mineral exploration and development company led by
Chairman and CEO Robert Friedland. The Earn -in Agreement provides HPX with an Option to earn up to
75% interest in the project over 11 years.
o HPX may earn 51% with a USD$15M exploration spend and USD$4.5M cash payments to
Brixton
o HPX may earn additional 24% (75% in total) with an additional USD$25M exploration
spend
During May-June 2020, the Company completed its maiden drilling program on the project. The purpose
of validation drilling was to improve our understanding of the mineralized system as the project appears
to have the affinity for strata-form copper-silver, high sulphidation mineralization and a porphyry copper-
gold type system. The drill program was successful in validating previous drilling at the Main Mine area
and encountered both broad mineralized intervals including narrow high -grade silver -gold-copper
mineralization.
Hog Heaven Highlights from the 2020 Drilling:
A total of seven holes representing 1,400.35m were drilled of HQ sized core and high-grade mineralization
was encountered in all of the holes drilled.
Drill hole HH20-02 intersected a broad 224.85m zone of mineralization for 78.16 g/t Ag, 0.66 g/t Au,
0.24% Cu (75.07m-299.92m) which includes the following:
• 5.48m of 445.79 g/t Ag, 1.41 g/t Au, 1.50% Cu
• 2.13m 0f 917.36 g/t Ag, 2.00 g/t Au, 3.06% Cu
• 53.49m of 165.90 g/t Ag, 1.28 g/t Au, 0.55% Cu
• 13.56m of 185.80 g/t Ag, 2.24 g/t Au, 0.76% Cu
• 1.37m of 1,750 g/t Ag, 5.39 g/t Au, 2.65% Cu
Drill hole HH20-07 intersected a broad 82.00m zone of sulphide mineralization for 67.09 g/t Ag, 0.73 g/t
Au, 0.23% Cu (62.78m-144.78m) which includes the following:
• 45.27m of 77.30 g/t Ag, 1.27 g/t Au, 0.41% Cu
• 6.89m of 117.23 g/t Ag, 1.94 g/t Au, 0.28% Cu
• 0.97m of 1,885.00 g/t Ag, 4.68 g/t Au, 15.20% Cu
Langis Ag-Co Mine Project - Cobalt, ON
A 20,000m fall/winter drill-campaign is ongoing.
Langis Highlights of 2020 Drill Results:
• LM20-83 returned 5.00m of 1,293.34 g/t Ag, including 2.00m of 3,205.00 g/t Ag
• LM20-87 cut 9.00m of 374.03 g/t Ag, including 2.00m of 1,492.50 g/t Ag
• LM20-93 returned 3m of 647 g/t Ag from 32.6m including 1m of 1845 g/t Ag
Atlin Goldfields Project - Atlin, BC
A total of 617 soils were collected and prospecting resulted in 69 rock samples being collected.
• A rock grab sample from Union Mountain returned 53.6g/t Au in listwanite-quartz vein
Qualified Person
Mr. Gary R. Thompson, P.Geo., who is a qualified person as defined by National Instrument 43-101,
reviewed and approved the information in this press release.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its gold,
copper 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-HudBay silver-cobalt
Projects 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 in the USA OTCQB market 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: [email protected]
For Investor Relations, please contact:
Mitchell Smith, VP Investor Relations
Tel: 604-630-9707 or email: [email protected]
Cautionary Note
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 statement.