Brixton Metals Corporation
(TSX-V: BBB, OTCQB:
BBBXF) (the “
Company” or
“
Brixton”) is pleased to announce additional
results from the ongoing exploration program at the Hog Heaven
Project, which is operated by Ivanhoe Electric Inc. under a
definitive Earn-in Agreement with Brixton. Hog Heaven is an
advanced-stage, high-sulphidation, epithermal copper-silver-gold
project having historical production with copper porphyry
potential. The project is located 50 miles southwest of Kalispell,
Montana, USA.
Highlights from Ivanhoe Electric’s April
2, 2024 News Release
- Best copper-gold-silver intercept
to date at the Hog Heaven Project
- Drill Hole HHD-014 yielded 82m of 0.63% Copper, 0.32 g/t Gold
and 37.8 g/t Silver from 568m depth
- Including 5.78% copper, 2.2 g/t gold and 264.7 g/t silver over
3.95m
- Including 21.7% copper, 3.94 g/t gold and 510 g/t silver over
1.1m
- Drill hole HHD-014 intersected
several zones of copper, gold and silver-rich mineralization hosted
in both the volcanic diatreme and surrounding sediments.
Mineralization manifests as both enargite and pyrite in
disseminations and diffuse veins within the volcanic rocks.
Significant thicknesses of this disseminated and vein-hosted
mineralization have been intersected.
- Drilling to date has demonstrated the
high-sulphidation epithermal mineralization has a strike length of
at least 800m and remains open in several directions around the
northern edge of the Flathead Diatreme.
- The single 21.7% copper assay was capped to 10% to avoid
overestimation and grade smearing within the reported intervals.
If, however, this capping is removed, the 82m interval is 0.79%
copper, 0.32 g/t gold and 37.8 g/t silver from 568m
- including the 3.95m interval of
9.13% copper, 2.2 g/t gold and 264.7 g/t silver from 631m
depth
For details on Ivanhoe Electric’s April 2, 2024
News Release on Hog Heaven Project click HERE.
Chairman and CEO Gary R. Thompson stated,
“Drilling at the Hog Heaven Project continues to deliver highly
encouraging results, specifically the copper enrichment. The high
sulphidation mineralization and the presence of mineralized
diatreme indicate a copper porphyry system at depth. We eagerly
await the next round of results.”
About the Hog Heaven Cu-Ag-Au Project –
Montana, USA
Ivanhoe Electric and Brixton entered into an
earn-in agreement in 2021. Under the earn-in agreement, Ivanhoe
Electric may earn up to a 75% interest in the Hog Heaven Project by
making cash payments totaling USD$4.5 million ($2.5 million paid to
date) and incurring an aggregate of USD$40 million in exploration
expenditures by 2032.
Brixton acquired 100% of the Hog Heaven Project
from Pan American Silver in 2017 and conducted data
compilation-digitization and 3D-modelling, soil geochemical
surveys, geological mapping and geophysical surveys. In 2020,
Brixton drilled seven holes at the Main Mine area.
Highlights from the 2020 drilling include drill
hole HH20-02 that intersected a 224.85m zone of mineralization
yielding 78.16 g/t Ag, 0.66 g/t Au, 0.24% Cu (from 75.07m depth),
which included the following sub-intervals:
- 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
The 2020 mineralized intervals are drill lengths
and the true width is undetermined at this time.
The Hog Heaven copper-silver-gold project is an
advanced-stage exploration project, which historically produced
high-grade silver, gold, and copper. Between 1913 and 1975,
Anaconda Copper Mining and lessees produced 6.7Moz Ag, 3,000 oz Au,
23M lbs of lead, and 0.6M lbs copper from 0.23Mt of direct-ship
ore, grading 29 opt silver. The road-accessible property is located
in Flathead County, 50 miles southwest of the town of Kalispell,
northwestern Montana, USA.
For additional Hog Heaven Projects details,
click here: https://brixtonmetals.com/hog-heaven/
Quality Assurance and Quality
control
Ivanhoe Electric employs industry standard QA/QC
and data verification protocols. The diamond drill holes were
completed using PQ and HQ diameters. The drill core was cut
lengthwise into halves using a diamond-bladed saw, with one-half
used for the assay sample and the other half retained in core boxes
and archived at site. Pulps and rejects are also stored on site for
archival purposes. Mineralized zones were generally sampled at 2m
intervals. Each core sample was placed into a bag with a unique
numbered sample identification tag. Quality control samples were
inserted between core samples using the same numbering sequence.
Then samples were grouped into batches for shipping and laboratory
submissions. Chain of custody records are maintained for sample
shipments and the custody is transferred from Ivanhoe Electric
expeditor to the laboratory upon delivery.
Samples were shipped to ALS Laboratories in Twin
Falls, Idaho, for sample preparation and analysis. Samples were
analyzed using customary four acid digestion and ICP-MS finish. A
standard gold fire assay package was used to analyze gold. Silver
content was assessed using either HCl leach and ICP-AES finish or
fire assay with gravimetric finish depending on silver
concentrations. ALS Minerals Twin Falls is an independent
laboratory certified under ISO 9001:2008 and accredited under
ISO/IEC 17025:2005 by the Standards Council of Canada.
Qualified Person
Mr. Gary R. Thompson, P.Geo., is the Chief
Executive Officer and Director for the Company who is a qualified
person as defined by National Instrument 43-101. Mr. Thompson has
verified Brixton’s 2020 results as previously released but has not
verified the referenced data disclosed in this press release and is
reliant on Ivanhoe Electric Inc., the operators of the project and
their Qualified Person for the QAQC statement above for the
technical information presented herein. Mr. Shawn Vandekerkhove,
P.Geo, is a Qualified Person as defined by Regulation S-K, Subpart
1300 promulgated by the U.S. Securities and Exchange Commission and
by Canadian National Instrument 43-101. Mr. Vandekerkhove is an
employee of Ivanhoe Electric.
About Brixton Metals
Corporation
Brixton Metals is a Canadian exploration company
focused on the advancement of its mining projects. Brixton wholly
owns four exploration projects: Brixton’s flagship Thorn
copper-gold-silver-molybdenum Project, the Hog Heaven
copper-silver-gold Project in NW Montana, USA, which is optioned to
Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel
Project in Ontario and the Atlin Goldfields Project located in
northwest BC. Brixton Metals Corporation shares trade on the TSX-V
under the ticker symbol BBB, and on the OTCQB
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 CEOTel:
604-630-9707 or email: info@brixtonmetals.com
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 statements.
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