Brixton Metals Corporation
(TSX-V: BBB, OTCQB:
BBBXF) (the “
Company” or
“
Brixton”) is pleased to announce initial results
from the 2023 Exploration Program on the Hog Heaven Project, which
is currently being operated by Ivanhoe Electric Inc. Under a
definitive earn-in JV Agreement, Ivanhoe Electric Inc. holds the
option to acquire up to 75% interest in the project by incurring
USD$40 million of project expenditures and paying Brixton USD$4.5
million. Hog Heaven is a high-sulphidation, epithermal
copper-silver-gold project with large scale porphyry copper
potential and with historical production located in the state of
Montana, USA.
Highlights from Ivanhoe Electric’s Program:
- Hole HHD-005 returned 311 meters of
1.07 g/t AuEq containing 22.89 g/t silver, 0.35 g/t gold, 0.06%
copper, 0.55% zinc and 0.36% lead, including the bottom 8m yielding
1.32% copper, 0.34 g/t gold, and 23.38 g/t silver from 901m
depth
- New evidence suggesting a deep
porphyry copper source to the high-sulphidation epithermal
mineralization
- Ivanhoe commences its
Typhoon™ geophysical survey on the Hog Heaven Project
VP of Exploration, Christina Anstey, stated,
“The fact that drilling has intersected increasing copper as a
proportion of mineralization with increasing depth, Cu-Mo
stockwork, crosscutting relationships and mineralized breccia
fragments are all very encouraging evidence for the existence of a
copper porphyry at depth.”
For complete details of the reported results
from Ivanhoe Electric work at the Hog Heaven Project, please click
the following link:
https://www.accesswire.com/791165/ivanhoe-electric-reports-first-drill-results-from-its-initial-exploration-program-at-the-hog-heaven-project-in-montana
Chairman and CEO, Gary Thompson, stated, “We are
delighted to see the exploration success that Ivanhoe Electric is
having on the Hog Heaven Project and we look forward to seeing this
project advance.”
2023 Hog Heaven Project
Update
Ivanhoe Electric commenced drilling on the Hog
Heaven Project in June 2023 as part of its JV Agreement with
Brixton Metals. To date, the program has consisted of six holes
totaling 6,129 meters and drilling is projected to continue with
two drill rigs on site, subject to potential winter conditions.
Initial drill results from the 2023 program include 311 meters of
1.07 g/t gold equivalent* from 162 to 473 meters, containing 22.89
g/t silver, 0.35 g/t gold, 0.06% copper, 0.55% zinc and 0.36% lead
from drill hole HHD-005.
The focus of the 2023 drill program was to test
for potential extensions of known silver, gold and copper-rich
high-sulphidation epithermal mineralization as well as search for a
potential copper porphyry source to the epithermal system.
Preliminary results from the 2023 drill campaign have shown that
epithermal mineralization extends significantly beyond the depths
of previous and historical mining activities. Additionally, new
evidence from drill core includes porphyry-style, early-quartz
veins and breccia bearing fragments of quartz-stockwork porphyry
clasts, suggesting a potential connection to a deep copper porphyry
system.
2023 Geophysical Survey at Hog
Heaven
In late September 2023, Ivanhoe commenced an
induced-polarization and electromagnetic ground geophysical survey
using its proprietary Typhoon™ electrical geophysical surveying
transmitter system. The goal of the survey is to assist with
identifying additional areas of precious and base-metal bearing,
semi-massive and massive sulphide epithermal mineralization at
depth.
Figure 1. The Hog Heaven Cu-Ag-Au Project
Location Map.
Figure 2. Photo of HHD-005 drill core at 903.5 m displaying a
sub-vertical pyrite-enargite vein cutting diatreme breccia. The
presence of gold- and copper-rich veins at depth in HHD-005 are
indicative of a vertically extensive hydrothermal system and
suggests proximity to a high-grade feeder zone.
Figure 3. Photo of fine early quartz veins with
clear alteration halos cut by later molybdenite-pyrite veins
observed in drill core from HHD-004 at 1241.9 meters depth.
Molybdenite veins such as this are commonly observed in the outer
portions of mineralized porphyry systems.
Figure 4. Photos of a breccia fragment comprised of a
porphyritic intrusion cut by porphyry stockwork quartz-pyrite veins
observed in drill core from HHD-003 at 943.9 meters depth (left)
and HHD-007 at 772 meters depth (right). Stockwork veins in
fragments provide strong evidence of a potential deep porphyry
system at Hog Heaven.
Figure 5. Cross Section Showing Geology, Drill
Hole Locations and Historical Mine Workings.
About the Hog Heaven Cu-Ag-Au Project –
Montana, USA
The Hog Heaven copper-silver-gold Project is an
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 Pb, and 0.6M lbs
Cu from 0.23Mt of direct-ship ore, grading 29 opt Ag. The
road-accessible property is located in Flathead County, 55 miles
south-southwest of the town of Kalispell, northwestern Montana,
USA. Over 700 drill holes were completed over the Main Mine and Ole
Hill Targets by previous operators.
Qualified Person
Mr. Gary R. Thompson, P.Geo., is Chairman &
CEO for the Company who is a Qualified Person as defined by
National Instrument 43-101. Mr. Thompson has not verified the
referenced data disclosed in this press release and is reliant on
Ivanhoe Electric Inc., the operators of the project for the
technical information presented herein.
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 CEOTel:
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.
Figures accompanying this announcement are available
at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/96b64efb-d3b8-4716-9704-3f8f79b9f8bc
https://www.globenewswire.com/NewsRoom/AttachmentNg/1e2e5c8e-27ab-457b-bf6d-6c2f4983c7ea
https://www.globenewswire.com/NewsRoom/AttachmentNg/d2f8222d-85cd-41a8-b084-055e75bc5a15
https://www.globenewswire.com/NewsRoom/AttachmentNg/010e1273-d27d-4585-875c-899bb9ff8613
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ab5be80-9554-4242-b524-1022cffa50b2
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