SOURCE: Brixton Metals Corporation

Brixton Metals Corporation

October 31, 2016 09:00 ET

Brixton Metals Drills 10m of 3.61 g/t Au within 52m of 0.94 g/t Au at The Outlaw Sediment Hosted Gold Zone at its Thorn Project

VANCOUVER, BC--(Marketwired - October 31, 2016) - Brixton Metals Corporation (TSX VENTURE: BBB) (the "Company" or "Brixton") is pleased to announce partial drilling results from its 2016 phase 2 exploration program at its 100 percent owned Thorn project. Brixton completed nine NQ sized core drill holes for a total of 1,645 metres at the Outlaw and Aberlour Zones. The Company drilled five holes at the Outlaw Zone totalling 1,190 metres and four holes at the Aberlour Zone totalling 455 metres. The Company also collected 1453 soil and 88 rock samples throughout the property and completed 15.5 kilometres of ground IP geophysics survey at the Chivas Zone.

Highlights

  • Two gold zones were identified in hole 132:
    1. 18 metres of 1.61 g/t Au, 12.30 g/t Ag from surface; and
    2. 52.00 metres of 0.94 g/t Au, 5.95 g/t Ag including 10.00 metres of 3.61 g/t Au and 23.75 g/t Ag from 78.00 metres depth.
  • Hole 133 intersected 6.00 metres of 3.41 g/t Au and 12.50 g/t Ag from surface within 13.00 metres of 1.73 g/t Au, 7.3 g/t Ag.
  • Mineralization is dominated by pyrrhotite/pyrite hosted by siltstone to greywacke.
  • Confirmed extension of sediment-hosted gold mineralization at the Outlaw zone which was discovered in 2014 when hole 128 intersected 59.65 metres of 1.15 g/t Au and 5.64 g/t.
  • The gold-in-soil anomaly at the Outlaw zone strike is estimated at approximately 3.5 kilometres.
  • Results for holes 134 - 139, soil and rock geochemistry and IP geophysics are pending.

Chairman and CEO of Brixton, Gary Thompson stated, "The focus at Thorn this season was on near surface gold mineralization as high-grade underground and large scale open pit type targets. We continue to show strong results and have been impressed with the high rate of discovery at Thorn."

Drilling at the Outlaw zone was designed to test the extension of sediment hosted gold mineralization discovered in holes 127 and 128 in 2014 in both easterly and westerly directions along the gold-in-soil trend.

To view drill location maps click this link.

Hole 131 was set up 40 metres north of hole 127 where surface mineralization was encountered. The top 6 metres of the hole did not recover any core as the rocks are highly altered and broken. Hole 132 and 133 were drilled from the same pad and were collared 145 metres to the northeast of hole 127 and 155 metres northwest from hole 128. Mineralization is hosted within interbedded siltstone and greywacke. Primary sulphides are pyrrhotite and pyrite which occur as semi-massive to disseminated mineralization as well as veinlets.

Initial Outlaw Zone Drill Results

                
Drill hole  From  To  Interval  Weighted Average  Weighted Average
ID  (m)  (m)  (m)  Au g/t  Ag g/t
THN16-131  0.00  121.00  121.00  No significant results
THN16-132  0.00  18.00  18.00  1.61  12.31
including  1.00  12.75  11.75  2.23  14.56
THN16-132  78.00  130.00  52.00  0.94  5.95
including  120.00  130.00  10.00  3.61  23.75
THN16-133  0.00  13.00  13.00  1.73  7.25
including  0.00  6.00  6.00  3.41  12.49
THN16-133  105.66  129.90  24.24  0.45  1.33
including  116.60  122.30  5.70  1.13  2.38
           

To view Outlaw drill cross-section click this link.

Quality Assurance & Quality Control

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. Gold over-limits were analyzed by fire assay with gravimetric finish. Base metal over-limits were analyzed with Aqua Regia Digest and AA finish. A copy of the QAQC protocols can be viewed at the Company's website.

All reported assays are uncut weighted averages. The true width of reported mineralization is unknown at this time.

Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.

About the Outlaw Zone

The Outlaw zone was first identified by Chevron Minerals in the 1980's. Chevron drilled 11.73 metres of 1.31 g/t Au within 225.85 metres of 0.27 g/t Au. Surface rock samples returned up to 20.50 g/t Au and the surface expression of the gold-in-soil anomaly is 3.5 kilometres by 2 kilometres (7 square kilometres). The Outlaw zone is a sediment-hosted gold-silver system. The gold-silver mineralization is hosted within siltstone-graywacke interbeds and associated with pyrrhotite and pyrite which occur as semi-massive to disseminated mineralization as well as veinlets. This area also hosts the favourable red-line boundary (an unconformity between Triassic Stuhini group volcanics and Jurassic clastic sediments). The area was intruded by both Jurassic rhyodacite dykes and a Cretaceous granodiorite.

About Brixton Metals Corporation

Brixton is an exploration company focused on the advancement of its gold and silver projects toward feasibility.

Brixton wholly owns two past producers of high-grade silver within the Cobalt-Silver Camp. The Langis mine produced 10.4 Moz of silver at 25 oz/t Ag, and 358,000 lbs of cobalt. The Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t Ag. These projects are located about 500 km north of Toronto, Canada. The high-grade silver mineralization occurs as moderate-steeply-dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase.

The 996 square kilometre, wholly owned Thorn Project is located in Northwestern British Columbia, Canada, approximately 105 km ENE from Juneau, AK. The Thorn project hosts a district scale gold-silver trend associated with Triassic to Cretaceous volcano-plutonic complex. Many styles of mineralization have been identified related to porphyry and epithermal environments. Targets include high-grade underground and large-scale open pit type targets.

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", "targets" or "will" be taken or occur, including statements that address potential quantity and/or grade of minerals, targets, 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 exploration potential of the Langis property based on historical information resources estimates on the Thorn Project 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, 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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