November 8, 2017 – Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to announce that it has completed exploration work on its wholly owned Atlin Gold Project near Atlin, BC. The 2017 field season concluded with a total of 200 rock samples and 120 soil samples collected within the 557 square kilometre property. In addition, 4,571 line kilometres of airborne magnetic survey was flown as 8 flight lines with 200m spacing.
Highlights
- Boulders sampled on the LD showing returned up to 293 g/t Au and 88 g/t Au
- An intrusion-related gold deposit signature was identified by anomalous Bi, W, Sn +/- Ag, As, Sb, Pb and Zn associated with the Surprise Lake Batholith
- Delineated numerous magnetic highs and lineaments on the property
Gold values for the 200 rock samples collected returned up to 293 g/t. One sample returned Au values greater than 100 g/t, 6 greater than 10 g/t, 8 greater than 1g/t, 13 greater than 0.4 g/t, 29 greater than 0.1 g/t and 48 greater than 0.03 g/t. The most notable rock samples collected in 2017 were obtained from the LD showing and included: sample J953672 returned 293 g/t Au and 26.5 g/t Ag; sample J953673 returned 88.10 g/t Au and sample J953666 returned 25 g/t Au. All rock samples listed above were comprised of vuggy, quartz vein-iron oxide fragments observed in the vicinity of the historic Standard Gold Mines trenches. The table below highlights the 2017 rock samples and gold values:
Location Map of Rock Samples for 2017:
Soil samples (1999169-197 and 1999252-282) collected from areas proximal to Terrahina Creek exhibit a trace element signature characteristic of intrusion-related gold deposits: Bi, W, Sn +/- Ag, As, Sb, Pb and Zn. Rock samples collected in this area exhibit the same overall signature and consist of quartz-veined argillite and cherty-argillite of the Kedahda Formation, and aplite and fine-to-medium grained monzonite of the Surprise Lake Batholith. Gold geochemical values for the 120 soil samples collected in 2017 ranged up to 520 ppb. The best result was obtained from soil sample 1999154, collected at the LD showing area. One soil sample yielded values greater than 400 ppb, two greater than 100 ppb and six greater than 30 ppb.
Location Maps of Soil Samples for 2017:
Chairman and CEO of Brixton, Gary R. Thompson stated, “We are excited about these very high-grade gold results and the broad scale intrusion related signature, suggesting great potential for a major, new hard rock gold discovery within the productive Atlin gold camp.”
Ongoing work with UBC Mineral Deposit Research Unit includes identification of target areas with potential for structurally controlled gold and intrusion-related gold, incorporating currently available data:
- Interpretation of the Brixton property geology in the regional context;
- Desktop analysis of structural data in the context of possible controls on fractures/veins;
- Identification of geophysical features and interpretation of their possible or likely geologic meaning;
- Identification of target areas with potential for mineralization, incorporating available geophysical, geological +/- geochemical information.
Recommendations
Further exploration work at the Atlin Gold Project is recommended and should include the following:
- Detailed geologic and alteration mapping in order to constrain the alteration assemblages and lithological compositions associated with orogenic and intrusion-related gold, as well as detailed structural mapping and analysis, to further investigate the structural and lithological constraints on mineralization;
- Trenching of the LD Property as a means to further investigate the significant gold in rock trend delineated in this area;
- Drilling of the LD Property consisting of approximately 10 NQ sized diamond drill holes totalling 2,000 meters;
- Property-wide geochemical studies (soils, rock, whole rock) in order to further test the mineralization potential for intrusion related gold deposits.
About the Atlin Gold Project
The wholly owned 557 square kilometer Atlin project is located in Northwest British Columbia east from the town of Atlin. The property is easily accessible by road and helicopter. The Atlin placer camp covers an area of 50km by 50km where placer gold is found in most of the drainages. Spruce Creek, within the Atlin gold camp, holds the provincial record for the largest gold nugget, weighing 2.6 kilograms (85 ounces – BCGS Paper 2017-1, p.179-193) and arguably one of the largest in Canada. However, only limited gold hard rock source of the gold has been identified. Targets on the property include both structurally controlled bonanza grade gold veins and large scale intrusion related gold targets. Many of the creeks on Brixton’s claims have seen historic placer production. The most extensive hard rock exploration work to date on Brixton’s claims has been on the LD property, which includes soil sampling, geophysical surveys, trenching, chip sampling, bulk sampling and drilling. Highlights from historical work on the LD property include: 330 g/t Au from a mini-bulk sample (ARIS 11511), and 3m of 9.39 g/t Au from drill core (ARIS 13269).
Brixton’s extensive land position covers both Surprise Lake batholith and favourable sedimentary rocks of the Cache Creek terrane. The Company’s plan is to conduct property scale exploration work to generate drill targets.
In 2016 the discovery of coarse gold veins in graphitic phyllite of the Cache Creek Terrane in Otter Creek, beneath active placer workings, confirmed a new local source for the typically coarse placer gold. The reference report “A new lode gold discovery at Otter Creek: Another source for the Atlin placers” can be found at the following link:
Abstract of the above referenced report:
”Primary exploration targets for lode gold near Atlin, northwestern British Columbia have historically been quartz-carbonate-mariposite altered (‘listwanite’) ultramafic and mafic bedrocks. These have long been considered the source of nearby placer deposits, and locally do contain fine visible gold. However, despite more than a century of searching, coarse gold such as found in the placer gravels has never been discovered. This has prompted the belief that the ‘listwanites’ are mere erosional remnants of bedrock sources of the coarse placer gold, and that these sources have been almost entirely lost to erosion. An alternative hypothesis argues that, although gold is found with listwanite, it was not the only bedrock source. Streams with placer deposits are distributed around the evolved Surprise Lake batholith (Sn-U-Th-Mo-W-F rich) and rare gold nuggets contain Sn- and Th-rich mineral intergrowths (cassiterite and thorite), demonstrating that at least some of the placer gold may be related to the batholith. Discovery of coarse lode gold (>5 mm) in graphitic and quartz-rich phyllitic bedrock beneath placer deposits along Otter Creek in 2016 confirms that listwanite-altered mafic and ultramafic rocks are not required for lode gold mineralization. At the discovery site, native gold is intergrown with quartz-albite veins and occurs as open space fillings. Rutile in quartz veins, and perhaps altered titanite in the adjacent phyllite may have grown along with gold deposition. Geochemical analysis of pyrite-rich phyllite adjacent to the gold veins yields no appreciable gold, but is slightly elevated in Cu (11-54 ppm), Pb (~33 ppm) and zinc (60-70 ppm). These results are consistent with petrographic observations that show abundant chalcopyrite inclusions but no gold inclusions in pyrite. Discovery of coarse gold in quartz veins cutting graphitic and quartz-rich phyllitic country rocks significantly expands the lode gold exploration target in the Atlin placer camp.”
Mihalynuk, M.G., Zagorevski, A., Devine, F.A.M., and Humphrey, E., 2017. A new lode gold discovery at Otter Creek: Another source for the Atlin placers. In: Geological Fieldwork 2016, British Columbia Ministry of Energy and Mines, British Columbia, Geological Survey Paper 2017-1, pp. 179-193.
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 Brixton Metals Corporation
Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada, have generated excellent results to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis and Hudson Bay mines produced at 25 and 123 opt silver, respectively. 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: info@brixtonmetals.com
For Investor Relations, please contact Mitchell Smith: mitchell.smith@brixtonmetals.com 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 completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates 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.