VANCOUVER, BC–(Marketwired – November 09, 2016) – Brixton Metals Corporation (TSX VENTURE: BBB) (the “Company” or “Brixton“) is pleased to announce the results from the 2016 soil and rock geochemistry and IP ground geophysics programs at its 100 percent owned Thorn project. The Company collected a total of 2,337 soil samples and 247 rock samples throughout the property and completed 15.5 kilometres of ground IP geophysics at the Chivas Zone.
The latest soil and rock assays represent results from a two-phase 2016 geochemical survey focused on delineating the Chivas Zone as well as expanding other geochemical anomalies on the Thorn property. Results have delineated a substantial 7 square-kilometer gold-in-soil anomaly at the Chivas Zone with a predominant northwest trend. The strike length of the anomaly is 3.5 kilometres long and up to 2.0 kilometres wide and remains open to the northwest and southeast. A second new gold-in-soil anomaly (1,000m x 600m) was identified that is located about 800 metres west from the Outlaw Zone. It is unclear at this time if this second new anomaly is an extension of the Outlaw Zone as a gap in the data remains The rock samples returned 14 samples greater than 1 g/t Au, 5 samples returned greater than 6 g/t Au and 1 sample greater than 10 g/t Au for the high of 19.35 g/t Au. Using a 100 ppb cut off for the soil results, 478 samples are greater than 100 ppb Au, 257 samples are greater that 200 ppb Au, 132 samples are greater than 400 ppb Au, 53 samples are greater than 800 ppb Au and 2 samples are greater than 10,000 ppb with the two highest being 14,800 and 16,700 ppb Au.
To view a compilation soil and rock anomaly map click this link http://brixtonmetals.com/cn/wp-content/uploads/2013/08/Thorn-geochem-N2016.jpg
The IP survey was contracted to Quantec Geoscience who conducted 15.5 kilometres of Titan24 DC/IP dipole-dipole array. The seven survey lines were orientated in a north-south direction at 300 metres spacing with 50 metre stations. The IP survey at the Chivas Zone succeeded in identifying a strong near surface chargeability high anomaly with a 2.4 kilometres strike length and up to 1.8 kilometres in width. The chargeability anomaly is open to the northwest, southeast and at depth.
To see a perspective-overlay view of the IP, Au-rock-geology, Au-in-soil click this link http://brixtonmetals.com/cn/wp-content/uploads/2013/08/Chivas-IP-soils-rocks-N2016.jpg
Chairman and CEO of Brixton, Gary Thompson stated, “The Chivas Zone represents a very attractive large scale gold target which is to be drill tested in 2017. We are very encouraged that the IP signature at Chivas is very strong and close to surface and that it aligns well with the high gold-in-soil anomaly.” Thompson further stated, “The original Thorn property discovery was made by Kennco in 1959 and the fact we are able to continue to make new discoveries on the property today is both a testament to our team and the gold potential of the property.”
Quality Assurance & Quality Control
Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Whitehorse, Yukon. ALS Minerals Laboratories are registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. A copy of the QAQC protocols can be viewed at the Company’s website.
About the Chivas Gold Zone
The Chivas Gold Zone was first identified in 2014 when the Company collected 22 soil samples along a break in slope where 20 of the 22 samples where anomalous in gold with a high of 11 g/t Au. There was no previous work reported from this area of the property. The Chivas Zone is located about 3 kilometres southwest from the western edge of the sediment hosted Outlaw Gold Zone and about 4 kilometres south from the silver rich Oban Diatreme Zone. Host lithology to gold mineralization is Triassic Stuhini group mafic volcanics. The 7 square kilometre gold-in-soil anomaly and the IP chargeability anomaly clearly a define an open-ended northwest trend. The red-line boundary (Triassic-Jurassic unconformity) was mapped about 800 metres west of the Chivas anomaly. Most major deposits in northwestern BC, including KSM, Brucejack and Eskay Creek, occur within 2 km of this regional red-line marker, which implies major regional-scale faults as metal-rich fluid pathways.
Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.
Additional Lands at Langis Property
Brixton is pleased to announce that it will complete its previously announced purchase and sale agreement with Agnico Eagle Mines Limited (“Agnico Eagle”) on November 10, 2016 in respect certain additional real property adjoining the Company’s Langis Property. Brixton will pay Agnico Eagle $200,000 and assume environmental and mine closure liabilities in the amount of approximately $56,000. Agnico Eagle retains a 2.0% net smelter returns on any future production from the property, subject to Brixton’s right to purchase from Agnico Eagle one-half of such royalty for $500,000.
About Brixton Metals Corporation
Brixton is an exploration company focused on the advancement of its gold and silver projects toward feasibility.
Brixton wholly owns two past producers of high-grade silver within the Cobalt-Silver Camp of Northeastern Ontario. The Langis mine produced 10.4 Moz of silver at 25 oz/t Ag, and 358,340 pounds of cobalt. The Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag. These projects are located about 500 km north of Toronto, Canada. The high-grade silver mineralization occurs as moderate-steeply-dipping veins and fissure infill within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase.
The 996 square kilometre, 100% owned Thorn Project is located in northwestern British Columbia, Canada, approximately 105 km ENE from Juneau, AK. The Thorn project hosts a district scale Triassic to Cretaceous volcano-plutonic complex with many styles of mineralization related to porphyry and epithermal environments. Targets include sediment hosted Au-Ag, Ag-Au-Pb-Zn diatreme-breccia, Ag-Au-Cu veins; and volcanic hosted structurally controlled Au-Ag.
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]
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 exploration potential of the Thorn and Langis properties and the completion of the acquisition from Agnico Eagle are forward looking statements. 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.
Mr. Gary R. Thompson
Chairman and CEO
Tel: 604-630-9707
Email: [email protected]
