Gold price rises on safety demand as markets look to 2025 in holiday lull
The yellow metal has gained 27% so far this year.
VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce initial assay results from its maiden drill program at the Trapper Gold Target on the Thorn Project. These results represent the first three of fifteen shallow drill holes that were drilled in 2021 for a total of 3,107.34m. The 12 holes and pending assays shall be released as they are made available. The wholly owned 2600 square kilometer Thorn Project is located in Northwestern British Columbia, Canada. The Trapper Target is one of fourteen Cu-Au-Ag exploration targets identified within the 80km mineralized trend at the Thorn Project.
Drill Highlights
Click here for Figure 1. Trapper Gold Target Location Map on Gold Geochemistry Plot, Thorn Project:https://brixtonmetals.com/wp-content/uploads/2021/11/Figure-1_12Nov2021.jpg
Christina Anstey, Vice President of Exploration, stated, “The results from the first few holes into the Trapper Target are very encouraging. We believe that based on the geology, mineralization and alteration, we are in an epithermal to gold-porphyry system with evidence for low-sulphidation and high-sulphidation overprints. We are excited to see some very high grades within broad, low-grade intervals. We are seeing precious and base-metal mineralization within both dominant lithologies in the area, but we believe that the diorite is the source of this mineralization. Hole THN21-186 intercepted this lithology, and we are waiting on assays from several other holes that had broad intercepts of the diorite with associated visible gold. There is plenty of room for expansion of gold mineralization in drilling given the large footprint of the geochemical signature of the target which has been expanded to a 4km strike by up to 1.5km in width. Trapper forms the southern 4km portion of a 11km NW-SE trending gold geochemical anomaly.”
Table 1. Drill Highlights from THN21-185-186 and 187, Trapper Target.
| Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Au (g*m) |
| THN21-185(055/-60) | 7.82 | 274.00 | 266.18 | 0.14 | 38.00 |
| Incl. | 7.82 | 19.00 | 11.18 | 1.02 | 11.45 |
| THN21-186(360/-65) | 2.49 | 190.00 | 187.51 | 1.60 | 300.82 |
| Incl. | 48.00 | 187.00 | 139.00 | 2.14 | 297.46 |
| Incl. | 49.50 | 61.00 | 11.00 | 19.25 | 211.75 |
| Incl. | 50.00 | 50.50 | 0.50 | 160.00 | 80.00 |
| Incl. | 60.54 | 61.00 | 0.46 | 276.00 | 126.96 |
| THN21-187(180/-45) | 2.82 | 58.00 | 55.18 | 0.21 | 11.72 |
| Incl. | 30.70 | 43.00 | 12.30 | 0.68 | 8.30 |
All assay values are uncut weighted averages and intervals reflect drilled intercept lengths as further drilling is required to determine the true widths of the mineralization.
Drill holes THN21-185-187 were drilled from the sample pad with HQ sized core. THN21-185 was drilled to a depth of 274m at 55 degree azimuth and negative 60 degree dip. THN21-186 was drilled to a depth of 190m at an azimuth of 360 degree and a dip of negative 65 degree. THN21-187 was drill to 58m depth at an azimuth of 180 degree and negative 45 dip.
Click here for Figure 2. Plan Map of Maiden Drill Collars at the Trapper Gold Target:https://brixtonmetals.com/wp-content/uploads/2021/11/Figure-2_12Nov2021.jpg
Gary R. Thompson, Chairman and CEO stated, “The results from the maiden exploration program at the Trapper Target is a game changer for the project. The Trapper Gold Target has significant scale potential with excellent grades. We are excited to see the rest of the assays from the 2021 exploration program and to complete all of our other ongoing, scientific studies, including age dating, so we can plan the next round of drilling at the Trapper Target in the spring of 2022.”
Click here for Figure 3. Cross-Section Looking South-East, Trapper Target:https://brixtonmetals.com/wp-content/uploads/2021/11/Figure-3_12Nov2021.jpg
Click here for Figure 4. Visible Gold in HQ Core THN21-186 at 50.05 and 60.83m, Trapper Target:https://brixtonmetals.com/wp-content/uploads/2021/11/Figure-4_12Nov2021.jpg
Click here for Figure 5. Visible Gold in HQ Core THN21-186 at 60.83m and 111.31m, Trapper Target:https://brixtonmetals.com/wp-content/uploads/2021/11/Figure-5_12Nov2021.jpg
Click here for Figure 6. Visible Gold in HQ Core THN21-187 at 41.33m, Trapper Target:https://brixtonmetals.com/wp-content/uploads/2021/11/Figure-6_12Nov2021.jpg
Quality Assurance & Quality Control
Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Whitehorse, Yukon. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. Samples that returned greater than 10 g/t Au are being analyzed using a Full Metallic Screening method. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.
About the Trapper Gold Target
The geochemical footprint for the Trapper Gold Target was expanded in 2021 to 4km by 1.5km. The gold-in-soil geochemical signature has a strong positive correlation to Zn-Pb. The Trapper Target represents a volcanic and intrusive hosted gold target. The volcanics are Triassic Stuhini Lapilli Tuff and at least two intrusive phases have been identified as diorite and quartz-diorite, with age-dating ongoing. Visible gold has been identified in core and surface outcrops. Rock grab samples have returned up to 135 g/t Au. Visible gold is recognized in several environments: within base metal-veins-veinlets (sphalerite-galena-pyrite-chalcopyrite); quartz-stockwork, within sulphosalt-pyrite veinlets and disseminate gold in the diorite. In 2021, Brixton completed 15 drill holes between 58-322.17m depth for a total of 3,107.34m, airborne Magnetics and Mobile MT geophysics, and conducted extensive soil and rock sampling. Highlights for the year include visible gold identified in shallow drilling and in outcrop, along with the discovery of two new high-grade copper showings. Additionally, a deep-seated resistivity/conductivity anomaly was imaged with a Mobile MT survey. In 2011, forty-two drill holes were completed, totaling 8581m, where drill hole TG11-11 returned 32.64m of 1.78 g/t Au including 0.41m of 92.8 g/t Au with visible gold. The Trapper Target is royalty free and is one of 14 mineralized targets areas on the wholly owned Thorn Project.
Mr. Gary R. Thompson, P.Geo., the Chairman and CEO for the Company who is a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this press release. Mr. Thompson has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver Project, the Atlin Goldfields Project located in NW BC, the Langis-Hudbay silver-cobalt Project in Ontario and the Hog Heaven silver-gold-copper Project in NW Montana, USA, under an Farmout Option Agreement to Ivanhoe Electric Inc. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. 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 CEOTel: 604-630-9707 or email: [email protected]
For Investor Relations, please contact:
Mitchell Smith, VP Investor RelationsTel: 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 nature of the geological system and the source of the mineralization. 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.
