VANCOUVER, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce additional results from the ongoing exploration program at the Hog Heaven Project, which is operated by Ivanhoe Electric Inc. under a definitive Earn-in Agreement with Brixton. Hog Heaven is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project having historical production with copper porphyry potential. The project is located 50 miles southwest of Kalispell, Montana, USA.
Highlights from Ivanhoe Electric’s April 2, 2024 News Release
- Best copper-gold-silver intercept to date at the Hog Heaven Project
- Drill Hole HHD-014 yielded 82m of 0.63% Copper, 0.32 g/t Gold and 37.8 g/t Silver from 568m depth
- Including 5.78% copper, 2.2 g/t gold and 264.7 g/t silver over 3.95m
- Including 21.7% copper, 3.94 g/t gold and 510 g/t silver over 1.1m
- Drill hole HHD-014 intersected several zones of copper, gold and silver-rich mineralization hosted in both the volcanic diatreme and surrounding sediments. Mineralization manifests as both enargite and pyrite in disseminations and diffuse veins within the volcanic rocks. Significant thicknesses of this disseminated and vein-hosted mineralization have been intersected.
- Drilling to date has demonstrated the high-sulphidation epithermal mineralization has a strike length of at least 800m and remains open in several directions around the northern edge of the Flathead Diatreme.
- The single 21.7% copper assay was capped to 10% to avoid overestimation and grade smearing within the reported intervals. If, however, this capping is removed, the 82m interval is 0.79% copper, 0.32 g/t gold and 37.8 g/t silver from 568m
- including the 3.95m interval of 9.13% copper, 2.2 g/t gold and 264.7 g/t silver from 631m depth
For details on Ivanhoe Electric’s April 2, 2024 News Release on Hog Heaven Project click HERE.
Chairman and CEO Gary R. Thompson stated, “Drilling at the Hog Heaven Project continues to deliver highly encouraging results, specifically the copper enrichment. The high sulphidation mineralization and the presence of mineralized diatreme indicate a copper porphyry system at depth. We eagerly await the next round of results.”
About the Hog Heaven Cu-Ag-Au Project – Montana, USA
Ivanhoe Electric and Brixton entered into an earn-in agreement in 2021. Under the earn-in agreement, Ivanhoe Electric may earn up to a 75% interest in the Hog Heaven Project by making cash payments totaling USD$4.5 million ($2.5 million paid to date) and incurring an aggregate of USD$40 million in exploration expenditures by 2032.
Brixton acquired 100% of the Hog Heaven Project from Pan American Silver in 2017 and conducted data compilation-digitization and 3D-modelling, soil geochemical surveys, geological mapping and geophysical surveys. In 2020, Brixton drilled seven holes at the Main Mine area.
Highlights from the 2020 drilling include drill hole HH20-02 that intersected a 224.85m zone of mineralization yielding 78.16 g/t Ag, 0.66 g/t Au, 0.24% Cu (from 75.07m depth), which included the following sub-intervals:
- 5.48m of 445.79 g/t Ag, 1.41 g/t Au, 1.50% Cu
- 2.13m 0f 917.36 g/t Ag, 2.00 g/t Au, 3.06% Cu
- 53.49m of 165.90 g/t Ag, 1.28 g/t Au, 0.55% Cu
- 13.56m of 185.80 g/t Ag, 2.24 g/t Au, 0.76% Cu
- 1.37m of 1,750 g/t Ag, 5.39 g/t Au, 2.65% Cu
The 2020 mineralized intervals are drill lengths and the true width is undetermined at this time.
The Hog Heaven copper-silver-gold project is an advanced-stage exploration project, which historically produced high-grade silver, gold, and copper. Between 1913 and 1975, Anaconda Copper Mining and lessees produced 6.7Moz Ag, 3,000 oz Au, 23M lbs of lead, and 0.6M lbs copper from 0.23Mt of direct-ship ore, grading 29 opt silver. The road-accessible property is located in Flathead County, 50 miles southwest of the town of Kalispell, northwestern Montana, USA.
For additional Hog Heaven Projects details, click here: https://brixtonmetals.com/hog-heaven/
Quality Assurance and Quality control
Ivanhoe Electric employs industry standard QA/QC and data verification protocols. The diamond drill holes were completed using PQ and HQ diameters. The drill core was cut lengthwise into halves using a diamond-bladed saw, with one-half used for the assay sample and the other half retained in core boxes and archived at site. Pulps and rejects are also stored on site for archival purposes. Mineralized zones were generally sampled at 2m intervals. Each core sample was placed into a bag with a unique numbered sample identification tag. Quality control samples were inserted between core samples using the same numbering sequence. Then samples were grouped into batches for shipping and laboratory submissions. Chain of custody records are maintained for sample shipments and the custody is transferred from Ivanhoe Electric expeditor to the laboratory upon delivery.
Samples were shipped to ALS Laboratories in Twin Falls, Idaho, for sample preparation and analysis. Samples were analyzed using customary four acid digestion and ICP-MS finish. A standard gold fire assay package was used to analyze gold. Silver content was assessed using either HCl leach and ICP-AES finish or fire assay with gravimetric finish depending on silver concentrations. ALS Minerals Twin Falls is an independent laboratory certified under ISO 9001:2008 and accredited under ISO/IEC 17025:2005 by the Standards Council of Canada.
Qualified Person
Mr. Gary R. Thompson, P.Geo., is the Chief Executive Officer and Director for the Company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified Brixton’s 2020 results as previously released but has not verified the referenced data disclosed in this press release and is reliant on Ivanhoe Electric Inc., the operators of the project and their Qualified Person for the QAQC statement above for the technical information presented herein. Mr. Shawn Vandekerkhove, P.Geo, is a Qualified Person as defined by Regulation S-K, Subpart 1300 promulgated by the U.S. Securities and Exchange Commission and by Canadian National Instrument 43-101. Mr. Vandekerkhove is an employee of Ivanhoe Electric.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. 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, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC. 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 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 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.
