SOURCE: Brixton Metals Corporation

Brixton Metals Corporation

September 07, 2017 09:00 ET

Brixton Metals Discovers Gold-Silver Mineralization at the Chivas Zone and Drills 6.45m of 4.86 g/t AuEq and 17.26m of 2.62 g/t AuEq

VANCOUVER, BC--(Marketwired - September 07, 2017) - Brixton Metals Corporation (TSX VENTURE: BBB) (the "Company" or "Brixton") is pleased to announce drill results from the first ever holes into the Chivas Zone at its wholly owned Thorn Project located in the northern extension of the Golden Triangle, British Columbia, Canada.

Highlights

  • Drilling discovers Au-Ag mineralization over a large area and remains wide open
  • Mineralization and alteration style appear to be porphyry related
  • This is the first round of drilling ever at the Chivas Zone
  • Hole 142 intersected 6.45m of 4.86 g/t AuEq within 18m 1.83 g/t AuEq
  • Hole 143 intersected 8m of 4.01 g/t AuEq within 11m of 2.96 g/t AuEq
  • Hole 144 intersected 17.26m of 2.62 g/t AuEq within 52.00m of 0.87 g/t AuEq
  • Surface mapping identifies a new open ended 1.2 km copper corridor which is yet to be drill tested and several gold targeted holes have increasing copper grades at depth

All of the 2,455m (10 holes) at the Chivas Zone were drilled within an area of 800m by 800m. The holes were designed to test the 7 square kilometre gold-in-soil and IP geophysical anomaly at the newly discovery Chivas zone.

Please see general location map for Chivas Zone drilling: http://brixtonmetals.com/wp/wp-content/uploads/2017/09/Chivas-Zone-drill-map-2017-v2.jpg

THN17-142 intersected two mineralized zones, an upper zone from 40m depth of 21.00m of 0.46 g/t Au and 39.74 g/t Ag or 1.03 AuEq. The lower zone intersected 18.00m of 0.99 g/t Au, 19.46 g/t Ag, 0.66% Zn, 0.19% Pb or 1.83 g/t AuEq from 161.00m depth. Included in this lower interval was 6.45m of 4.86 g/t AuEq as 2.63 g/t Au, 45.15 g/t Ag, 1.5% Zn, 0.18% Cu, 0.42% Pb.

Photos of core for THN17-142 are available at the following links: http://brixtonmetals.com/wp/wp-content/uploads/2017/09/THN17-142-166m.jpg, http://brixtonmetals.com/wp/wp-content/uploads/2017/09/THN17-142-polyphase-breccia-48m.jpg, http://brixtonmetals.com/wp/wp-content/uploads/2017/09/THN17-142@149.7-m.jpg

Please see link to drill collar location map: http://brixtonmetals.com/wp/wp-content/uploads/2017/09/Map-3_Chivas-Drilling-Plan-View-Crop.jpg

Please see link for cross section A-A': http://brixtonmetals.com/wp/wp-content/uploads/2017/09/Map-4_Chivas-Drilling-A-A-Crop.jpg

THN17-143 intersected 11m of 2.96 AuEq starting at 59m depth as 0.54 g/t Au, 147.78 g/t Ag, 0.27% Zn, 0.25% Pb including 8m of 4.01 g/t AuEq as 0.71 g/t Au, 202.49 g/t Ag, 0.35% Zn, 0.34%Pb.

THN17-144 intersected 52m of 0.87 g/t AuEq as 0.31 g/t Au, 39.56 g/t Ag, including 17.26m of 2.62 g/t AuEq as 0.61 g/t Au, 110.27 g/t Ag, 0.36% Zn, 0.36 Pb.

THN17-145 intersected 1.15m of 5.25 AuEq as 5.15 g/t Au, 7.30 g/t Ag, within 9.80m of 0.93 g/t AuEq.

THN17-147 intersected 1.00m of 5.10 g/t AuEq as 5.08 g/t Au, 1.6 g/t Ag within 18.97m of 0.51 g/t AuEq.

Several drill holes have increasing copper grades down hole and THN17-149 intersected 39m of 0.11% Cu. THN17-148 was abandoned due to poor ground conditions.

Please see link for cross-section B-B': http://brixtonmetals.com/wp/wp-content/uploads/2017/09/Map-5_Chivas-Drilling-B-B-Crop.jpg

A table of mineralized composites are summarized below.

Hole ID From To Interval Gold Silver Copper Lead Zinc AuEq
  (metre) (metre) (metre) g/t g/t % % % g/t
THN17-140 156.00 163.00 7.00 0.91 6.44       1.01
including 162.00 163.00 1.00 4.21 32.90       4.68
 
THN17-141 193.00 201.00 8.00 0.90 2.28       0.93
 
THN17-142 40.00 61.00 21.00 0.46 39.74       1.03
including 161.00 179.00 18.00 0.99 19.46   0.18 0.66 1.83
THN17-142 161.00 167.45 6.45 2.63 45.15 0.18 0.42 1.50 4.86
 
THN17-143 59.00 70.00 11.00 0.54 147.78   0.25 0.27 2.96
including 59.00 67.00 8.00 0.71 202.49   0.34 0.35 4.01
 
THN17-144 112.00 164.00 52.00 0.31 39.56       0.87
including 133.62 150.88 17.26 0.61 110.27   0.36 0.36 2.62
 
THN17-145 118.00 127.80 9.80 0.79 9.90       0.93
including 121.85 123.00 1.15 5.15 7.30       5.25
 
THN17-146 no significant results
 
THN17-147 23.00 41.97 18.97 0.49 0.94       0.51
including 37.00 38.00 1.00 5.08 1.60       5.10
THN17-147 182.85 200.00 17.15 0.42 3.88       0.48
 
THN17-148 no significant results
 
THN17-149 185.00 224.00 39.00   0.89 0.11      
          

All reported assays are uncut weighted averages. The true width of reported mineralization is unknown at this time. Gold Equivalent values (AuEq) were calculated using the formula AuEq = $1,200 x Au g/t ÷ 31.104 + $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $1 x % Pb ÷ 100 x 2204.63 + $1.20 x % Zn ÷ 100 x 2204.63/$1,200 x 31.104. This method assumes full metal recoveries as metallurgical work has not been conducted.

Chairman and CEO of Brixton, Gary R. Thompson stated, "We are excited to have completed the first ever drill program at the new Chivas Zone. It appears that we are on margin of a large porphyry system at Chivas, and moreover, these results support our thinking that we have a mineralized system with district scale dimensions at the Thorn Project." Thompson further stated, "A larger drill program with generally deeper holes will be required to properly test the potential of the Chivas discovery. The Thorn Property is largely underexplored with potential for both high grade and bulk tonnage precious metal targets."

About the Chivas Gold Zone (Thorn Project)

The Chivas Zone is defined as an open-ended northwest - southeast 3 kilometre mineralized trend based on a 7-square kilometre gold-copper-in-soil anomaly and the coincident strong IP chargeability anomaly. The Chivas gold anomaly was first identified in 2014 when the Company collected 16 soil samples along a break in slope over 600m where 12 of the 16 samples where anomalous, above 30 ppb Au with a high of 11,000 ppb Au. There was no previous work reported from this area of the property. This zone represents an important new mineralized target and is part of a district scale system at the Thorn project. Mineralization is hosted by quartz-carbonate-pyrite, galena-sphalerite-sulphosalts veins, polyphase and/or hydrothermal breccias and fault zones within Stuhini Group volcanic rocks and is interpreted as being peripheral to a Au-Ag-Cu-Mo porphyry system. The Chivas Zone is located about 3 kilometres southwest from the western edge of the sediment hosted Outlaw Gold Zone where hole 128 intersected 59.65m of 1.15 g/t Au, 5.64 g/t Ag, and about 3 kilometres south from the Oban Diatreme Breccia Zone where hole 60 intersected 95m of 628 g/t Ag and 1.71 g/t Au, 3.31% Pb, 2.39% Zn, 0.12% Cu. The red-line boundary (Triassic-Jurassic unconformity) was mapped about 800 metres west of the Chivas anomaly. According to Kyba and Nelson of the BCGS, most major deposits in northwestern BC, including KSM, Brucejack and Eskay Creek, occur within 2 km of this regional red-line marker, which implies major regional-scale structures as metal-rich fluid pathways.

Please see link to the Chivas Zone: http://brixtonmetals.com/properties/thorn-project/chivas-zone/

Quality Assurance & Quality Control

Ms. Caroline Vallat, P.Geo., from GeoSpark Consulting Inc. conducted an independent QAQC review which returned overall strong accuracy and precision of the analytical results. Sealed samples were shipped by the Company geologists to ALS Minerals preparation lab in Whitehorse, Yukon. 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. Silver and 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 Thorn Project

Brixton's wholly owned 1,114 square kilometre Thorn Project is located in Northwest British Columbia approximately 90 kilometres ENE from Juneau, Alaska. The southern limit of the Thorn claim boundary is about 65 kilometre from tide water. Geology at Thorn Project hosts a district scale Triassic to Eocene volcano-plutonic complex with several styles and episodes of mineralization related to porphyry and epithermal environments. Targets include sediment hosted gold-silver (Outlaw Zone), silver-gold-lead-zinc-bearing diatreme-breccia (Oban Zone), high-grade high-sulphidation gold-silver-copper veins (Glenfiddich, Talisker and others and porphyry copper-gold-silver-molybdenum potential Chivas and (Oban at depth). In 2013, Brixton entered into an Exploration Agreement with the Taku River Tlingit First Nations. Please see find further project information on the Company's website, http://brixtonmetals.com/properties/thorn-project/

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 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: info@brixtonmetals.com

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.

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