VANCOUVER, British Columbia, June 06, 2019 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has kicked off the exploration program at its Thorn project located in Northwest British Columbia. The initial 2019 program will consist of 1,000 metres of HQ size core drilling at Oban zone (within the Camp Creek Trend) to test for porphyry copper mineralization at depth.
Figure 1. Drill Rig at the Deep Copper Target, Camp Creek-Oban Zone 2019
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “This one, deep hole at Thorn could be a game changer for the project, particularly if we continue to hit copper mineralization at the bottom of the 1000 metre hole. The Thorn project has evolved over the years from the silver discovery in 2011 to the sediment hosted gold-silver discovery at the Outlaw zone in 2014 and now to copper porphyry at the Chivas and Camp Creek targets. The majority of the previous work on the property is within a 60 square kilometre area and many historic Cu-Au-Mo minfile showings and gossans on the nearly 1000 square kilometre property have yet to be followed up. The discovery rate for mineralization on the Thorn property is high.”
Update on the Atlin Goldfields Project
The Company is also pleased to report that it has received the final report of the recently flown 1992 line-kilometres of helicopter-borne magnetic survey carried out by Geotech Ltd., at its Atlin Goldfields project located in Northwest British Columbia. The principal geophysical sensor was a caesium magnetometer. Ancillary equipment included a GPS navigation system, radar altimeter and laser altimeter.
The survey has been successful in identifying a large number of geophysical anomalies and features. The ultramafic rock units tend to show up as magnetic highs. The orogenic gold mineralization at the Atlin Goldfields project is structurally controlled and the interpretation of the newly acquired geophysical data highlights a large number of structures and cross-structures that could potentially control the gold mineralization. Both steeply dipping and shallow thrust faulting occur in the camp. The Company is planning to further refine its exploration model to include the recently acquired geophysical data and plans to follow up some of the more favorable features through shallow drilling. Please see the 2019 calculated vertical gradient map of the magnetics survey, including structural interpretation, selected drill results and surface geochemistry from previous work below.
The road accessible Pictou showing returned 4 g/t Au and 11 g/t Au from 2018 chip-grab samples and historical grab samples have returned up to 61 g/t Au. These are select samples and are not representative of the mineralization hosted on the property or on the showing in the figure above.
Update on Corporate Activities
The Company has elected not to proceed with the previously announced spin-out of its Cobalt assets as contemplated in the News Release dated June 28, 2018.
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 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 NWBC, the Langis-Hudson Bay silver-cobalt project 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. 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.