VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) is delighted to announce results from drill hole THN19-150 which was drilled to 829.06 metres depth at the Oban diatreme breccia pipe within the Camp Creek Copper Corridor. Structural mapping and soil-rock geochemistry at the Chivas Zone and re-logging of select core from the Glenfiddich zone were also conducted. The objective of the program was to test for porphyry mineralization at depth at the Oban Zone and to refine the two porphyry targets, Chivas and Camp Creek, for the next round of drilling.
Highlights and Key Findings
- Drilling has extended the Oban Zone polymetallic mineralization to a depth of 651m from the previously drilled vertical depth of 370m for an increase of 281m of new mineralization
° THN19-150 returned 554.70m of 0.57 g/t Au, 0.24% Cu, 43.18 g/t Ag, 0.55% Zn, 0.28% Pb or 1.97 g/t AuEq over 554.70m
° Including 277.80m of 0.86 g/t Au, 0.28% Cu, 75.28 g/t Ag, 0.88 Zn, 0.48% Pb or 3.06 g/t AuEq over 277.80m
° Including 135.96m of 1.35 g/t Au, 0.31% Cu, 133.62 g/t Ag, 1.61% Zn, 0.89% Pb or 5.00 g/t AuEq over 135.96m
° As well, high-grade copper dominated intervals of 6m of 3.56% Cu, 3.37 g/t Au, 257.77 g/t Ag from 155m depth and 16m of 1.38% Cu from 414.35m depth
- Importantly, the drilling encountered an increase in porphyry-type veined clasts from 185m and more importantly sulphide-mineralized porphyry clasts from 429 to 677m indicating porphyry affinity
- Re-logging of the 108m THN13-121 hole from the Glenfiddich Zone identified an increase in A-type porphyry veins at the bottom 8m of the hole suggesting porphyry proximity
- Mapping at the Chivas zone has expanded the porphyry target along strike to 3km where it remains open. This mapping identified multiple porphyry phases within the copper-in-soil anomaly, providing a drill ready target
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “Brixton continues to unlock a mountain of value at the wholly owned Thorn Project in the prolific Golden Triangle of BC. We are encouraged by the fact the hole exhibits an increase in mineralized porphyry clasts within the diatreme, which were not previously encountered. The source porphyry to these mineralized clasts is yet to be discovered. It is known that diatreme breccias and porphyry deposits tend to form in clusters.” Mr. Thompson further states that, “The mineralized system at Thorn is huge; we need more drilling to prove up these zones. Just to put this in perspective, there are three multi-kilometre targets on the property; the Chivas porphyry, the Camp Creek porphyry and the Outlaw sediment-hosted gold target which are about 4 km away from one another.”
Table 1. Composite Assays for THN19-150
All reported assays are uncut weighted averages and represent drilled core lengths. The true width of reported mineralization is unknown at this time. Gold Equivalent values (AuEq) were calculated using the formula AuEq = ($1,250.00 x Au g/t ÷ 31.10 + $15.40 x Ag g/t ÷ 31.10 + $2.80 x % Cu ÷ 100 x 2204.63 + $0.90 x % Pb ÷ 100 x 2204.63 + $1.25 x % Zn ÷ 100 x 2204.63) ÷ $1,250 x 31.10. This method assumes full metal recoveries as metallurgical work has not been conducted.
Table 2: THN19-150 Collar Information
|Hole Number||Azimuth (degrees)||Dip (degrees)||Length (m)||Elevation (m)||UTM East||UTM North||Core Size|
THN19-150 was drilled as a vertical hole to a depth of 829.06 metres. Drilling encountered porphyry-type veining from 185m with common sulphide-mineralized veins in clasts from 429-680m. The mineralization in drill hole THN19-150 occurs as phases of sulphides and sulphosalts cementing the breccia matrix. Mineralization also occurs as disseminations, veinlets and cement to crackle style breccia. The dominant minerals are pyrite, tetrahedrite, sulphosalts, sphalerite, galena and chalcopyrite. Within the breccia matrix these infill minerals form layered rims around breccia fragments. The most significant mineralization in hole 150 occurs from 97.00m to 651.70m where assay results returned values of 0.57 g/t Au, 0.24% Cu, 43.18 g/t Ag, 0.55% Zn, 0.28% Pb over 554.70m, including 135.96m of 1.35 g/t Au, 0.31% Cu, 133.62 g/t Ag, 1.61% Zn, 0.89% Pb from 97.00m to 232.96m.
Copper mineralization is generally associated with semi-massive to disseminated chalcopyrite breccia cement seen in Figures 5, 6 and 7. The most significant copper mineralization intervals are 135.96m of 0.31% Cu from 97.00m to 232.96m, 6.00m of 3.56% Cu from 155.65m depth and 6.00m of 2.82% Cu from 418.35m depth.
The hole ended in a low grade mineralized interval that returned 42.36m of 0.15 g/t Au and 3.06 g/t Ag, 0.11% Zn at the bottom of the hole 786.70 - 829.06m.
Vice President of Exploration of Brixton Metals, Sorin Posescu stated, “In addition to expanding the mineralization to depth, the increase in mineralized porphyry fragments within the diatreme suggests that we could be near a mineralized porphyry. The geometry is still unknown, but we may be dealing with a tilted system which will require more drilling to determine this. The re-logging of hole 121, which is located about 1km west from hole 150, identified an increase in porphyry A-type veins towards the bottom of the shallow hole suggesting we may be closer to the porphyry centre. All of this work strongly suggests the presence of a large porphyry system at the Thorn Project.”
Quality Assurance & Quality Control
Ms. Caroline Vallat, P.Geo., from GeoSpark Consulting Inc. conducted an independent QAQC review, which returned overall strong accuracy and precision of the analytical results.
Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Whitehorse, Yukon. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Blank, duplicate and certified reference materials were inserted into the sample stream. Analysis for gold was done by Fire Assay with AA finish. All other elements were analyzed by Four Acid Digestion with ICP-MS finish. Silver and base metal over-limits were analyzed by Ore Grade Four Acid Digestion with ICP-AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.
Mr. Sorin Posescu, P.Geo, Vice President Exploration for Brixton Metals and a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved the technical information in this news release.
About the Thorn Project
The wholly owned Thorn Project is a 996 square kilometer claim group located in northwestern British Columbia, Canada, approximately 90 km ENE from Juneau, AK with the southern claim boundary located 65 km to tide water. The project is within the traditional territory of the Taku River Tlingit First Nation, where in 2013 an Exploration Agreement was signed between the Company and the TRTFN.
The Thorn Project hosts a district scale Triassic to Eocene volcano-plutonic complex with many styles of mineralization related to porphyry and epithermal environments. The three main targets include the Chivas Zone, which is an important new, large scale yet to be drilled porphyry target and the Outlaw Zone, which is a large scale clastic sediment hosted Au-Ag target where hole 128 returned ~60m of 1.15 g/t Au and 5 g/t Ag. Lastly the Camp Creek porphyry target and includes the Oban Zone, Talisker Zone and Glenfiddich Zone. Further information regarding the Thorn Project, including resource estimates, can be found in the Company’s technical report prepared by SRK Consulting dated December 12, 2014 and filed on SEDAR. The original discovery at the Thorn Project dates back to 1959 by the Kennco team.
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.