VANCOUVER, British Columbia, Nov. 14, 2018 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has completed a Ground Gravity Survey at the Langis project where the Company had previously discovered a diamond bearing kimberlitic body (as disclosed in New Release dated August 30, 2018). The gravity survey has been successful in identifying a significant residual gravity anomaly feature that the Company is now actively drilling. The geophysical anomaly target has an approximate size of 500 metres in a northeast direction and approximately 230 metres in a northwest direction. The ground gravity survey was completed by Abitibi Geophysics and designed to collect ground gravity readings on a grid with 50 metres station intervals and 50 metres line spacing. Two of the holes that previously encountered kimberlitic breccia directly beneath the overburden at relatively shallow depths were drilled near the margins of the residual gravity anomaly. Please see figure 1 below.
Figure 1: Residual Bouguer Anomaly Map, Langis Project:
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Chairman and CEO of Brixton, Gary R. Thompson stated, “Brixton recently completed 5 core holes on the Langis property which tested some previously mapped cobalt veins and results are pending. Currently, Brixton has begun to drill test the kimberlite target at Langis with several HQ sized core holes planned.”
Results of micro diamond recovery tests by caustic fusion as disclosed on August 30, 2018
| Diamond Descriptions Sample E 2/2 |
| Off White, Transparent, No Inclusions, Fragment, Serrate Laminae |
Figure 2: Image of the diamond recovered from drill hole LM-18-37 (sample E 2/2):
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About the Langis and Hudson Bay Project
Brixton’s wholly owned Langis and Hudson Bay past producing mines are located 500km north from Toronto, Ontario, Canada. 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. Kimberlite and kimberlitic breccia were drilled in 3 holes on the Langis project while targeting cobalt-silver-nickel mineralization. The kimberlite and associated gravity anomaly are located west of the Langis mine workings.
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.
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 gold 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. 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 at [email protected] or 604-630-9707
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, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results and 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.
