Brixton Metals Drills 234.0m of 0.57% CuEq within 582.44m of 0.45% CuEq within 779.65m of 0.37% CuEq at its Camp Creek Porphyry Target, Thorn Project

VANCOUVER, British Columbia, Jan. 16, 2023 (GLOBE NEWSWIRE) —  Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to report its final 2022 drilling results from the Camp Creek Cu-Au-Ag-Mo Porphyry Target on its wholly owned Thorn Project located in Northwestern British Columbia, Canada. The Thorn Project is located within the Taku River Tlingit and Tahltan First Nation’s traditional territory.

Highlights

  • High grade gold was intercepted above the porphyry yielding 55.8 g/t Au over 1.5m
  • Hole THN22-221 yielded 779.65m of 0.37% CuEq ending in mineralization at 1375m
    • Including 582.44m of 0.45% CuEq
    • Including 234.00m of 0.57% CuEq from 940m depth
    • Including 20.85m of 0.78% CuEq
  • This large copper dominant porphyry target remains wide open, including at depth

Chairman & CEO, Gary Thompson, stated, “We are very pleased with the 2022 program at the Camp Creek Porphyry Target as it continues to demonstrate large-scale upside potential. During the 2023 exploration campaign we are delighted to work alongside our strategic investor BHP by formulating the BHP-Brixton joint technical committee to study the 2022 data and develop a plan to unlock the Camp Creek potential through a deep drilling program. We plan to start the fully funded 2023 drill program in late April to early May.”

Figure 1. Location Map of the Camp Creek Target and Copper Geochemistry.

Figure 1_16Jan2023

The Camp Creek acid-sulphate alteration and geochemical expression further to the east-northeast is covered and unconformably overlain by a late rhyolite flowdome complex, which suggests the porphyry mineralization may continue under this volcanic cover (see Figure 1) providing for a 1km by 2km porphyry target area.

Table 1. Select Intervals of Mineralization in Hole THN22-221.

                     
  Hole ID From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Mo (ppm) CuEq (%)*  
  THN22-221 186.00 219.50 33.50 0.12 0.56 22.33 1.08 0.61  
    449.50 451.00 1.50 0.03 55.80 33.50 10.95    
  including 595.50 1375.15 779.65 0.23 0.05 2.46 234.71 0.37  
  including 792.00 1374.44 582.44 0.29 0.06 2.76 297.20 0.45  
  including 940.00 1174.00 234.00 0.40 0.09 3.44 278.84 0.57  
  including 1058.95 1079.80 20.85 0.55 0.12 4.34 389.76 0.78  
                     

All assay values are uncut weighted averages. Intervals reflect drilled intercept lengths as further drilling is required to determine the true widths of the mineralization.

*Copper Equivalent (CuEq) is calculated based on US$ 4.30/lb Cu, US$ 1820.00/oz Au, US$ 23.80/oz Ag, US $18.00/lb Mo. These prices represent the approximate one year trailing moving averages of metal prices and calculations assume 95% recovery. The formula is: CuEq % = (Cu % + (0.617248 * Au g/t) + (0.008072 * Ag g/t) + (0.000419 * Mo ppm)) * 0.95.

Figure 2. Drill Collar Location Map for the Camp Creek Target with Copper Equivalent Values.

Figure 2_16Jan2023

Vice President of Exploration, Christina Anstey, stated, “We are excited to see such high grades coming from the mineralized Porphyry X unit in Hole THN22-221. Unfortunately, we encountered a high number of post mineral dykes within this hole which diluted the overall grade in hole 221. During the 2022 exploration season we used down hole-oriented core methods which will allow us to accurately model this post mineral dyke swarm and hopefully avoid this dilution in the follow up holes planned for the 2023 Exploration Season.”

Discussion

Drill hole THN22-221 was planned to test the copper grades and extents of Porphyry X, east of drill holes THN22-201 (967.71m of 0.39% CuEq) and THN21-184 (821.25m of 0.38% CuEq), and was collared 280 meters to the northeast. The hole setup was near-vertical (-88 dip), drilling to the north, ending at 1375.15m depth. The hole started intersecting low-grade Cu-porphyry mineralization around 600m depth, within the Porphyry Y and hornfels sediments. Mineralization continued through to the end of the hole, grading 0.37% CuEq over 779.65m (0.23% Cu, 0.05 g/t Au, 2.5 g/t Ag and 235 ppm Mo, 595.50m-1375.15m). Copper grades increased around Porphyry X which was observed between 844.83m and 1180.57m; however, the unit was diluted by thirty-four occurrences of meter-scale post-mineral dykes (totaling 68.48m). The dykes continued down hole, cross-cutting the hornfels sediments and Porphyry Y. The best copper mineralization in the hole centered around 940.00-1174.00m and averaged 0.57% CuEq (0.40% Cu, 0.09 g/t Au, 3.4 g/t Ag and 279 ppm Mo) over 234.00 meters. A 20.85m interval of Porphyry X that was not diluted by post-mineral dykes averaged 0.78% CuEq (0.55% Cu, 0.12 g/t Au, 4.3 g/t Ag and 390ppm Mo), demonstrating the potential of this zone had the dykes not been present. Hole THN22-221 ended in mineralized hornfels sediments that were cut by post-mineral dykes.

Two anomalous gold mineralized intervals were observed above the main porphyry zone in hole THN22-221. The first interval was over 33.50 meters grading 0.562 g/t Au with 0.12% Cu and 22.3 g/t Ag at 186.00 meters within Porphyry Z. The second interval was high-grade with 55.8 g/t Au and 33.5 g/t Ag over 1.5 meters, from 449.5m within Porphyry Y, although no notable veins or mineralization were observed.

Calc-alkalic porphyry Cu-Au-Ag-Mo mineralization at the Camp Creek target is disseminated, within quartz-anhydrite veins and as chalcopyrite-molybdenite veins-veinlets. Mineralization is hosted within Porphyry X, a crowded plagioclase porphyry of Cretaceous age (85.1Ma +- 1.1Ma), characterized by well-defined stacked biotite, a feature typical of mineral-related porphyry phases. Mineralization is also hosted in hornfels of Triassic Stuhini Group sedimentary rocks, which are intruded by the porphyry phases.

The cross-section view to the south-southeast in Figure 3 represents all of the deep holes in the Camp Creek to date. It may appear that some of the holes are overlapping, but note that the scale of the slice is greater than one kilometer and the reader should see Figure 2 for the considerable distances from each of the drill collars.

Figure 3. Cross Section for Hole THN22-221, Camp Creek Porphyry Target.

Figure 3a_16Jan2023

Figure 4. NQ Core Photograph of Mineralization in Hole THN22-221.

Figure 4_16Jan2023

Figure 5. NQ Core Photographs of Mineralization in Hole THN22-221.

Figure 5_16Jan2023

2022 Thorn Project Exploration Summary

A total of 18,122 meters were drilled during the 2022 season, including 6,484m at the Camp Creek Porphyry target and 9,119m at the Trapper target. A total of 520 rocks and 1,157 soil samples were collected with a primary focus on the Metla and Trapper Targets, in addition to the East Copper Target and the Val Copper Target. A total combined 1,229 line-kilometers of airborne magnetics and radiometrics were flown over the Metla, Trapper, Val and East Targets. The drill program started in May and was completed in late October.

Table 2. Drill Collar and Hole Information for 2022 Drilling at the Camp Creek Target.

2022 Camp Creek Drill Holes
Hole ID Easting Northing Elevation (m) Azimuth Dip Depth Zone Status
THN22-221 628062 6492150 757 0 -88 1375.150024 Camp Creek Current Release
THN22-200 627774 6491687 619 241 -69 629.02 Camp Creek No Significant Results
THN22-201 627871 6491942 670 239 -83 1302.71 Camp Creek Reported August 16, 2022
THN22-202 627774 6491690 613 290 -76 636.12 Camp Creek No Significant Results
THN22-213 627659 6491855 626 320 -85 1243.00 Camp Creek Reported January 4, 2023
THN22-231 627863 6492224 772 350 -87 1297.58 Camp Creek Reported January 4, 2023
Total Meters 6,483.58  

About the Thorn Project

The wholly-owned 2,900 square kilometer Thorn Project is located in northwestern British Columbia at the northern trend of the Golden Triangle, Canada, approximately 90 km northeast of Juneau, Alaska. The Thorn Project hosts a district-scale 80km megatrend of Triassic to Eocene, volcano-plutonic complex with several styles of mineralization related to porphyry and epithermal environments. Fourteen large-scale copper-gold targets have been identified for further exploration.  

Information on each of the targets may be found at the following link: https://brixtonmetals.com/thorn-gold-copper-silver-project/

Quality Assurance & Quality Control

Quality assurance and quality control protocols for drill core sampling was developed by Brixton. The gold, silver, copper, lead, zinc, and molybdenum duplicate assay results are well correlated, and it is the Qualified Person’s opinion that strong precision is inferred within the reported analytical results. Core samples were taken between 0.5m and 2.5m intervals based on lithology and mineralization. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Whitehorse, Yukon. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. The 2022 Thorn project analytical results have been determined to be high quality and have passed this QAQC review.

The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.

Qualified Person
Mr. Gary R. Thompson, P.Geo., is Chief Executive Officer for the company and a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the data disclosed in this press release, including the sampling, ‎analytical and test data underlying the information and has approved the technical information in this press release.

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 (Optioned to Ivanhoe Electric Inc., NYSE: IE), the Atlin Goldfields Projects located in NW BC (Optioned to Pacific Bay Minerals, TSXV: PBM) and the Langis-HudBay silver-cobalt-nickel Project in Ontario. 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: [email protected]

For Investor Relations, please contact:

Neil MacRae, Investor Relations
Tel: 604-630-9707 or email: [email protected]

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.

Photos accompanying this announcement are available at:

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