VANCOUVER, British Columbia, April 18, 2019 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce it has commenced exploration work at its wholly owned Atlin Goldfields Project near the town of Atlin in Northwest British Columbia and within the traditional territory of the Taku River Tlingit First Nations. Since 2016, Brixton has consolidated approximately 1,000 square kilometres of mineral claims covering most of the Atlin gold camp which has seen placer gold production for the past 120 years. Brixton’s goal is to discover the bedrock sources for the gold mineralization using modern systematic exploration techniques.
Scope of Phase One Work for 2019
- Completed 1,965 line-kilometres of helicopter-borne magnetic geophysical survey
- Construction has begun on a new, 35-person exploration camp located at the Yellowjacket mine
- Property scale geological mapping will focus on structural controls of gold mineralization
- The collection of approximately 5000 soil, 100 stream sediment, and several hundred prospecting samples is planned
- Approximately 3000 metres of core drilling across 4 targets: LD, Pictou, Imperial and Yellowjacket will be drilled
- Select historical core holes from the Yellowjacket zone will be re-logged and lithogeochemical samples shall be collected
First-pass stream sediment sampling conducted by Brixton Metals has identified several watershed drainages anomalous in gold and other orogenic and intrusion-related pathfinder elements. The 2019 program will increase stream sediment density in these areas, and geological mapping and soil sampling grids will be conducted where warranted.
The airborne magnetic geophysics program will be utilized to map lithological contacts and major structures in the Pine Creek area. Preliminary work by Brixton Metals has identified geological structures possibly related to known bedrock gold occurrences in the Pine Creek watershed including Yellowjacket, Imperial, and Pictou zones.
Diamond drilling is expected to commence in late June and will focus on LD, Pictou and the Yellowjacket-Imperial expansion zones. At LD and Pictou, a series a short drillholes will be utilized to test for vein continuity below historic trenches and to partially test gold-in-soil anomalies generated by Brixton in 2018.
The Yellowjacket expansion drilling is designed to test geophysical structures between the Yellowjacket and Imperial deposits that do not have surface exposure. This total area is over 5 square-km. This preliminary drilling will be a ‘proof of concept’ program aimed at discovery outside of the historic gold deposits.
About the Atlin Goldfields Project
Since 2016, Brixton has staked claims and completed 12 transactions to hold approximately 1,000 square kilometres of mineral rights in the Atlin Mining District of Northwest British Columbia. The project is located east of the town of Atlin and is road accessible and is amenable to year round drilling. Placer gold mining operations have been active in the Atlin Goldfields for the past 120 years; however, only limited hard rock exploration has been conducted for the source of the gold.
The Yellowjacket Mine is a permitted 200 tpd mine and mill currently on care and maintenance. The zone is an example of bedrock hosted gold mineralization. Drilling at Yellowjacket has been shallow with an average drill length of 84m. The mine is road accessible and located 9 km from the town of Atlin. Core drilling by Homestake Minerals from 1986 to 1988 and the Yellowjacket JV between 2003 and 2011 identified high-grade gold mineralization in multiple zones within an 80 metre wide shear zone. Historical drilling results include significant gold intersections:
- Hole YJ03-01: 5.57m of 509.96 g/t Au (16 opt gold)
- Hole TW05-02: 2.62m of 853.28 g/t Au (27 opt gold)
- Hole TW02-02: 13.50m of 11.21 g/t Au (0.36 opt gold)
- Hole MET06-03: 6.00m of 21.07 g/t Au (0.68 opt gold)
The Imperial Mine is approximately 3 km northwest of the Yellowjacket Mine and has a history going back to 1899 immediately following the discovery of placer gold in the Atlin Camp. Historic records indicate 268 metric tonnes were mined at a grade of 11.5 g/t Au from a 150 metre-long gold-bearing quartz vein, Minfile 104N 008.
The LD Showing is approximately 12 km from Atlin and is road accessible. Previous exploration work has discovered gold mineralization associated with quartz veins hosted within a shear zone. Grab samples collected by Brixton geologists have assayed up to 293 g/t Au. During 2018, the Company completed geologic mapping, rock sampling, biogeochemical studies, and soil sampling which expanded the gold-in-soil anomaly to 1200 metres by 2000 metres. The gold-in-soil anomaly remains open to expansion.
The Pictou Showing is located 2 km from Atlin and is road accessible. Historic records going back to 1899 discovered gold-bearing quartz veins through 29 metres of underground workings. Homestake conducted exploration from 1987 to 1988 and reported grab samples ranging from 15 to 60 g/t Au. The best channel sample across the showing assayed 14.3 g/t over 2 metres. Chip sampling by Brixton during 2018 of outcrop in the vicinity of the adit returned 11.75 g/t Au and 4.48 g/t Au.
The Qualified Person (“QP”) for Brixton cannot verify the drill and surface geochemical results reported above or the other technical information set out in this news release. The precise location of the drill cores from the program is presently unknown and they have not been inspected by the QP, and therefore Brixton has not undertaken sufficient re-logging, resampling or check assays; however, Brixton has no reason to doubt the results and considers the results relevant and suitable for disclosure. The QP also advises that true width of the above results cannot be determined at this time. The results disclosed above are selected intercepts or other highlights from historical work at the Atlin Properties and none of this information is supported by a technical report prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and the Company cautions readers that there is no certainty that these results are indicative of future exploration at the Atlin Properties and there is no certainty of similar grades from future drilling.
Mr. Darren O’Brien, P.Geo, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.
Brixton is pleased to announce the appointment of Mitchell Smith, as Investor Relations Manager, effective October 10, 2017.
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 NW BC, 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 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.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
For Investor Relations please contact Mitchell Smith
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.