VANCOUVER, April 6, 2011 – Brixton Metals Corporation (“Brixton” or the “Company”) is pleased to announce the signing of a letter of engagement with Equity Exploration Consultants Ltd to provide management services on the upcoming 2011 drill program on its Thorn Property in Northern British Columbia.
The 19,000-hectare Thorn Property is located 50 km Northwest at the end of the Golden Bear Mine road in the Sutlahine River area of Northwest British Columbia. Thorn shares many similarities with other high sulphidation metal deposits around the world including La Bodega in Colombia, Lepanto in the Philippines and El Indio in Chile.
Brixton currently has $1.3M budgeted to support the phase one drill program which will include approximately 3,000 meters of drilling, focused on the Talisker and Oban zones. A summary of results is presented below (previously reported in the NI 43-101 Technical Report on the Thorn Property available on both Brixton’s website and Sedar.com):
Talisker Zone Highlights:
Hole |
From (m) |
To(m) |
Width (m) |
Au |
Ag |
Cu% |
TH04-29 |
21.80 |
77.90 |
56.10 |
1.27 |
16.7 |
0.19 |
Incl. |
27.18 |
62.50 |
35.32 |
1.66 |
20.5 |
0.23 |
And |
51.00 |
54.55 |
3.55 |
4.48 |
65.3 |
0.65 |
TH05-36 |
49.83 |
55.42 |
5.59 |
0.71 |
9.84 |
0.11 |
Incl. |
52.10 |
52.47 |
0.37 |
4.49 |
91.69 |
1.29 |
TH05-36 |
110.25 |
115.45 |
5.96 |
0.95 |
14.59 |
0.19 |
TH05-37 |
3.05 |
8.23 |
5.18 |
1.53 |
1.35 |
n/a |
TH05-37 |
44.33 |
88.26 |
43.93 |
0.76 |
48.90 |
– |
Incl. |
47.33 |
51.53 |
4.20 |
4.44 |
407.90 |
2.95 |
Oban Zone Highlights:
Hole |
From (m) |
To(m) |
Width (m) |
Au g/t |
Ag g/t |
Ag Equiv. |
THN-03-19 |
6.1 |
44.7 |
38.6 |
1.22 |
103.2 |
188.0 |
Incl. |
6.1 |
20.1 |
14.0 |
1.97 |
190.0 |
328.0 |
THN03-20 |
3.1 |
56.4 |
53.3 |
0.31 |
65.6 |
87.2 |
Incl. |
3.1 |
14.1 |
11.0 |
0.63 |
101.0 |
145.4 |
THN03-21 |
4.8 |
45.5 |
40.7 |
0.83 |
118.8 |
176.6 |
Incl. |
20.3 |
45.5 |
25.2 |
1.20 |
173.1 |
257.2 |
THN03-22 |
9.6 |
40.2 |
30.6 |
0.16 |
61.6 |
72.7 |
THN03-22 |
60.9 |
138.7 |
77.8 |
0.68 |
110.1 |
158.1 |
Incl. |
74.0 |
93.6 |
19.6 |
0.83 |
159.4 |
217.9 |
And |
114.6 |
121.7 |
7.1 |
1.72 |
264.9 |
385.4 |
(Float Sample#124001 from 2002 assayed 3.48 g/t Au & 6,149 g/t Ag)
Other Zones Highlights:
Zone | Sample |
Length (m) |
Au g/t |
Ag g/t |
Cu % |
B | DDH-86-6 |
2.77 |
2.0 |
153 |
3.78 |
B Extension | Float#275978 |
– |
21.5 |
2990 |
14.2 |
Jarosite Bluff | Float#129060 |
– |
13.84 |
2900 |
32.80 |
Tamdhu | Boulder#206997 |
– |
20.2 |
2261 |
9.84 |
Vein#206634 |
2 |
3.22 |
380 |
0.83 |
|
DDH THN02-13 |
1.65 |
3.1 |
454 |
3.65 |
|
Amarillo Creek | Float#626650 |
– |
265 |
631 |
– |
Brixton has an option agreement with Kiska Metals on the Thorn Property. Brixton may earn 51% and 65% interest in exchange for:
·Cash payments of $200,000
·400,000 shares of Brixton
·$5M in exploration expenditures over 4 years
Kiska may elect to joint venture 49/51 Kiska/Brixton, if Kiska elects not to JV then Brixton may earn up to 65% by spending $10M in exploration expenditures. If Kiska still elects not to JV, Brixton may increase its ownership further via linear dilution.
Toby Hughes, P.Geol, has reviewed the contents of this news release and is a Qualified Person as defined by NI 43-101.
About Equity Exploration Consultants Ltd.
Equity Exploration Consultants Ltd. is a private, Canadian company focused on providing high quality consulting and project management services to the mineral exploration industry. The company’s core strength is its full-time staff of 14 expert geologists and support team members, in addition to a wide network of associates, who have worked to maximize exploration success for its clients since 1987.
About Brixton Metals Corporation
Brixton is a Vancouver based mineral exploration company engaged in the acquisition and exploration of precious metal assets. Brixton’s management is focused on advancing large-scale deposits to feasibility. Brixton’s portfolio is comprised of two properties: Thorn (BC), and Kahilt (Alaska). The Kahilt District is the name Brixton has given to its lands within the Kahiltna Terrane, a 650 km long section of Alaska that was infused with copper and gold mineralization. The Kahiltna Terrane hosts the giant Pebble gold-copper deposit of Anglo-American and Northern Dynasty, the Whistler gold-copper deposit being developed by Kiska Metals, and Millrock Resources’ Estelle gold property being explored in joint venture with Teck American Incorporated. Brixton Metals trades on the TSX Venture Exchange under ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com
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, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the exercise of the Company’s option agreements and the use of funds 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 the risks identified in the annual information form of the Company or other reports and filings with the TSX Venture Exchange 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.
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.