October 22, 2018 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce additional drill results from its wholly owned Hudson Bay project located in the Cobalt Camp, Ontario, Canada.
Highlights from 11 drill holes
- Drill hole HB18-31 intersected one metre of 3,290 g/t silver, 0.29% nickel and 0.14% cobalt within 2.00m of 1,667.30 g/t silver, 0.15% nickel and 0.07% cobalt from 22m depth
- Drill hole HB-18-34 intersected one metre of 1.96% cobalt and 16.20 g/t silver from 80m depth
- Drill hole HB-18-26 intersected four metres of 536.50 g/t silver from 45m depth, including 1,285 g/t silver over 1.00m
Chairman and CEO of Brixton, Gary R. Thompson stated, “Brixton continues to encounter very high grade silver and cobalt mineralization around the historic workings at the Hudson Bay mine and have defined a number veins. These high grade results are at shallow depths as stated in the table below ranging from 22m to 80m drill depth. We believe that this area warrants further drilling to expand on these trends. Given the current copper and cobalt prices, the 1.96% cobalt equates to 19.6% copper, which is significant. The long term demand for cobalt remains strong”
Table of Select Drill Highlights, Hudson Bay Mine Project
Holes HB 25, 29, 30 and 32 returned insignificant results. True widths have not been determined at this time.
During 2018, Brixton has drilled approximately 4,012 metres at the Hudson Bay project. Drilling at the Hudson Bay project was designed to test for additional silver and cobalt mineralization near the historic workings.
Plan Map of Select Drill Results, Hudson Bay Project
Mineralization in holes 26 to 31 is hosted in Huronian conglomerates which are typically green to grey, predominately massive and matrix supported with subrounded polymictic clasts ranging from a few mm and up to 12cm in diameter. Mineralization usually consists of finely disseminated silver and cobalt minerals as well as associated with carbonate veining ranging from a few mm and up to 1cm in thickness. Vein behaviour can vary as they come in a variety of orientations from 40-60 degrees and thickness.
In holes 33 and 34, mineralization is hosted in fault zones and fault breccia within mafic volcanic units intercalated with graphitic schist. Visible mineralization includes predominantly chalcopyrite, sphalerite and pyrite interstitial to brecciated “clasts” or in carbonate veins as seen in portions of healed fault breccia. Some mineralization is included in largely massive, blocky carbonaceous interflow sediments. Chalcopyrite is finely disseminated and concentrated closely to the interpreted fault at 79m in hole 34. Cobalt mineralization in more competent interflow sediments was observed to be semi-massive veins up to 2cm thick with fine grained disseminated silver arsenides/smaltite adjacent to metal veins.
Mineralization in hole 35 is hosted in mafic volcanics. Cobalt mineralization in this unit is found at boundary of pink quartz carbonate veins with finely disseminated smaltite in broken pieces surrounding veining. Trace amounts of chalcopyrite were also seen in brecciated portions of the interval.
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.
About the Langis and Hudson Bay Silver – Cobalt 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 6.4 Moz 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.
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@example.com
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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.