VANCOUVER, British Columbia, Jan. 08, 2019 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce drill results from the Benner Harris cobalt–silver target and concludes drilling of the kimberlite target at its wholly owned Langis project located in the Cobalt Camp, Ontario, Canada.
Highlights
- Drill hole LM-18-49 intersected 0.44% cobalt, 41.03 g/t silver, over 3.00m from 44.00m depth, including 1.00m of 0.76 g/t gold, 0.83% cobalt and 93.20 g/t silver from 45.00m depth
- Drill hole LM-18-46 intersected 0.40% cobalt over 2.00m from 27.00m depth
- Kimberlite was intersected at shallow depths in 22 out of 24 holes, expanding the kimberlitic footprint to 50 hectares
Chairman and CEO of Brixton, Gary R. Thompson stated, “This wraps up our 2018 drill program at the Langis project. The Langis project continues to show promise for high-grade, near surface silver-cobalt mineralization and diamond bearing kimberlite. The Company eagerly awaits the analysis of the kimberlite material collected from the 22 holes. While the potential value is unknown at this time, the 50 hectare footprint is intriguing. In the short-term, the Company will focus its efforts on unlocking the potential of its wholly owned Atlin Goldfields project.”
Table 1 – Drill highlights from the Benner Harris Area of the Langis Project
| Hole | From | To | Interval | Gold | Silver | Cobalt |
| ID | (m) | (m) | (m) | g/t | g/t | % |
| LM-18-46 | 27.00 | 29.00 | 2.00 | 4.20 | 0.40 | |
| LM-18-47 | 20.00 | 22.00 | 2.00 | 1.85 | 0.10 | |
| LM-18-49 | 44.00 | 47.00 | 3.00 | 41.03 | 0.44 | |
| including | 45.00 | 46.00 | 1.00 | 0.76 | 93.20 | 0.83 |
Holes LM 48 and 50 which were targeting Ag-Co mineralization returned insignificant results. True widths have not been determined at this time.
The Benner Harris zone is located approximately 3km southeast of the Langis mine workings as seen in Figure 1 below. Historic exploration work conducted during late 1950’s and early 1960’s by the Benner-Harris Group, Rayrock Mines Limited and Agnico Eagle in mid-1980’s included prospecting, surface geochem, ground geophysics and drilling. The 2018 drilling was follow up work on previous exploration that was conducted by Agnico Eagle Mines in mid-1980’s. Cobalt-silver mineralization intersected at the Benner Harris zone is hosted by the Huronian conglomerate near the contact with Archean volcanics. Mineralization typically consists of finely disseminated cobalt and silver minerals as well as millimetre scale veinlets. Further drilling is warranted at the Benner Harris zone to test for extension of the mineralization encountered during 2018 drilling.
During 2018, Brixton has drilled a total of 10,452m at the Langis project, including 3,645m on the kimberlite target. Kimberlite was intersected in 22 out of 24 holes, expanding the kimberlitic footprint to approximately 50 hectares. The kimberlitic units at the Langis project have a near-flat lying geometry and are up to 70m in thickness situated just below the overburden that ranges from 20m to 50m in depth. Results of the kimberlitic material analysis will be released as they become available.
Figure 1 – Benner Harris Zone and Kimberlite Drill Plan Map at Langis
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Figure 2 – Kimberlite Zone Cross-Section
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Quality Assurance & Quality Control
Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Sudbury, Ontario. ALS Minerals Laboratories are 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 Aqua Regia Digest with ICP-AES finish. Cobalt over-limits were analyzed with Sodium Peroxide Fusion and AES finish. Silver over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AES finish. A copy of the QAQC protocols can be viewed at the Company’s website.
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.
Corporate Transaction
In addition, Brixton entered into a purchase and sale agreement dated December 22, 2018 with a vendor that held lands near the past producing Imperial Mine, Atlin Goldfields (the “Purchase Agreement”). The Company has also issued 30,000 common shares to an Atlin mineral property owner under a previously disclosed option agreement. The shares issued under these transactions have a deemed price of $0.17 per share and are subject to a 4 month hold period in Canada.
About the Langis and Hudson Bay Silver, Cobalt and Diamonds Project
Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada with excellent infrastructure. The cobalt-silver mineralization occurs as steeply-moderately and in some cases shallow dipping veins and as disseminations within any of the three main rock types: Archean volcanics, Coleman Member sediments and Nipissing diabase. The Langis mine produced 10.4Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt and the Hudson Bay mine produced 6.4Moz of silver at 123 oz/t Ag and 185,570 pounds of cobalt. Historically, the Cobalt Camp produced 50M pounds of cobalt as a by-product of 500M ounces of silver production. The kimberlitic units at the Langis project have a near-flat lying geometry and are up to 70m in thickness situated just below the overburden that ranges from 20m to 50m in depth.
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 gold-silver and the Atlin goldfields projects located in NWBC, the Langis-Hudson Bay silver-cobalt-diamond 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. 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
Tel: 604-630-9707 or email: [email protected]
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.
