January 4, 2023 – Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to report 2022 drilling results from the Camp Creek Cu-Au-Ag-Mo Porphyry Target on its wholly owned Thorn Project located in Northwestern British Columbia, Canada. The Thorn Project is located within the Taku River Tlingit and Tahltan First Nation’s traditional territory.
Chairman & CEO, Gary Thompson, stated, “We are excited to see the potential scale emerge of the Camp Creek Porphyry Target. The distance between these two reported holes is 420m. Drill hole 213 was collared 235m west-southwest of the collars for 201-184 and drill hole 231 was collared 280m north from the collars for 201-184. Mr. Thompson further stated that, “we have yet to process all of the 2022 data and convene our maiden technical committee meeting with BHP but one of the 2023 exploration objectives may be to identify the high-grade copper core of the Camp Creek porphyry and to test the limits of the mineralized system.”
Figure 1. Location Map of the Camp Creek Target and Copper Geochemistry.
The Camp Creek acid-sulphate alteration and geochemical expression further to the east-northeast is covered and unconformably overlain by a late rhyolite flowdome complex, which suggests the porphyry mineralization may continue under this volcanic cover (see Figure 1) providing for a 1km by 2km porphyry target area.
Table 1. Select Intervals of Mineralization in Holes THN22-213 and THN22-231.
All assay values are uncut weighted averages. Intervals reflect drilled intercept lengths as further drilling is required to determine the true widths of the mineralization.
*Copper Equivalent (CuEq) is calculated based on US$ 4.30/lb Cu, US$ 1820.00/oz Au, US$ 23.80/oz Ag, US $18.00/lb Mo. These prices represent the approximate one year trailing moving averages of metal prices and calculations assume 95% recovery. The formula is: CuEq % = (Cu % + (0.617248 * Au g/t) + (0.008072 * Ag g/t) + (0.000419 * Mo ppm)) * 0.95.
Figure 2. Drill Collar Location Map for the Camp Creek Porphyry with Copper Equivalent Values.
Vice President of Exploration, Christina Anstey, stated, “We are encouraged by the large-scale potential of the Camp Creek Copper Porphyry Target. We collected a molybdenite sample for age dating (pending) from hole 150 which was drilled to 829m in the Oban Diatreme Breccia (see Figure 2 and 3) where considerable mineralized (chalcopyrite-molybdenite) porphyry clasts were identified. This is important for a few reasons: one is that hole 150 is collared 1000m east from hole 213 and we have yet to make the connection genetically or physically from the mineralized diatreme to the porphyry; and two, if we can make this link through age dating then it really opens up the eastern potential of the target which has not been drilled at depth.”
The objective of holes THN22-213 and THN22-231 was to test the mineralization west and north of THN22-201 (967.71m of 0.39% CuEq) and THN21-184 (821.25m of 0.38% CuEq). The distance between hole 213 and 231 is 420m. Both holes reached depths over 1200m, intersecting hundreds of meters of mineralized Porphyry X and hornfels sediments and ended in mineralization. Calc-alkalic porphyry Cu-Au-Ag-Mo mineralization at the Camp Creek target is disseminated and within quartz-anhydrite veins and as chalcopyrite-molybdenite veins-veinlets. Mineralization is hosted within Porphyry X, a crowded plagioclase porphyry of Cretaceous age (85.1Ma +- 1.1Ma), characterized by well-defined stacked biotite, a feature typical of mineral-related porphyry phases. Mineralization is also hosted in hornfels of Triassic Stuhini Group sedimentary rocks, which are intruded by the porphyry phases.
Hole THN22-213 was collared 235 meters west-southwest of THN22-201 and THN21-184, reaching a total depth of 1243m. Porphyry X was first intersected at 608 meters and short alternating sequences of mineralized hornfels sediments and Porphyry X continued to the end depth. Overall, the mineralized zone was 709.00 meters grading 0.34% CuEq (0.24% Cu, 0.06 g/t Au, 2.4 g/t Ag and 141 ppm Mo), including a 64.15m enriched zone of 0.65% CuEq (0.53% Cu, 0.09 g/t Au, 4.0 g/t Ag, 176 ppm Mo) centered on a 30 meters interval of chlorite-sericite altered Porphyry X.
Hole THN22-231 was collared 280 meters north of THN22-201 and THN21-184, reaching a total depth of 1297.58m. The mineralized zone was from 519.50 meters depth with grades of 0.30% CuEq (0.20% Cu, 0.05 g/t Au, 2.0 g/t Ag, 146 ppm Mo) over 778.08m, including 0.46% CuEq (0.34% Cu, 0.07 g/t Au, 2.9 g/t Ag, 192 ppm Mo) over 102.00m.
Assays are pending for hole THN22-221, which is located 275m northeast from collar THN22-201. Hole THN22-221 was drilled to a depth of 1375.13m, which ended in visibly similar porphyry mineralization hosted in Porphyry X and hornfels sediments. (See Figure 2 for collar locations).
The cross-section view to the Southeast in Figure 3 represents all of the deep holes in the Camp Creek to date. It may appear that some of the holes are overlapping, but note the scale of the slice is greater than one kilometer and the reader should see Figure 2 for the considerable distances from each of the drill collars.
Figure 3. Cross Section of Holes THN22-213 and THN22-231.
Figure 4. NQ Core Photographs of Mineralization in Hole THN22-213.
Figure 5. NQ Core Photographs of Mineralization in Hole THN22-213.
Figure 6. NQ Core Photographs of Mineralization in Hole THN22-231.
2022 Thorn Project Exploration Summary
A total of 18,122 meters were drilled during the 2022 season, including 6,484m at the Camp Creek Porphyry Target and 9,119m at the Trapper Target. A total of 520 rocks and 1,157 soil samples were collected with a primary focus on the Metla and Trapper Targets, in addition to the East Copper Target and the Val Copper Target. A total combined 1,229 line-kilometres of airborne magnetics and radiometrics were flown over the Metla, Trapper, Val and East Targets. The drill program started in May and was completed in late October.
Table 2. Drill Collar and Hole Information for this News Release.
Table 3. Drill Collar and Hole Information for 2022.
About the Thorn Project
The wholly-owned 2,863 square kilometer Thorn Project is located in northwestern British Columbia at the northern trend of the Golden Triangle, Canada, approximately 90 km northeast of Juneau, Alaska. The Thorn Project hosts a district-scale 80km megatrend of Triassic to Eocene, volcano-plutonic complex with several styles of mineralization related to porphyry and epithermal environments. Fourteen large-scale copper-gold targets have been identified for further exploration.
Information on each of the targets may be found at the following link: https://brixtonmetals.com/thorn-gold-copper-silver-project/
Quality Assurance & Quality Control
Quality assurance and quality control protocols for drill core sampling was developed by Brixton. The gold, silver, copper, lead, zinc, and molybdenum duplicate assay results are well correlated, and it is the Qualified Person’s opinion that strong precision is inferred within the reported analytical results. Core samples were taken between 0.5m and 2.5m intervals based on lithology and mineralization. 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, 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. The 2022 Thorn project analytical results have been determined to be high quality and have passed this QAQC review.
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.
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the Company who is a qualified person as defined by National Instrument 43-101. Mr. James has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information and has approved the technical information in this press release.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA (Optioned to Ivanhoe Electric Inc., NYSE: IE), the Atlin Goldfields Projects located in NW BC (Optioned to Pacific Bay Minerals, TSXV: PBM) and the Langis-HudBay silver-cobalt-nickel Project in Ontario. 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 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
For Investor Relations, please contact:
Neil MacRae, Investor Relations
Tel: 604-630-9707 or email: firstname.lastname@example.org
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.