VANCOUVER, British Columbia, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce additional analytical results from its 2019 phase two exploration program at its wholly owned Thorn Project located in the Golden Triangle of British Columbia. As part its 2019 Thorn program of 8,042m drilled, the Company drilled two holes at the Outlaw Zone for a total of 689m in holes THN19-159 and THN19-160. The analytical results reported below are from drill hole 159. The analytical results for drill hole 160 are pending. The Outlaw Zone is a large-scale intrusion-related sediment-hosted gold-silver target.
Highlights From the Outlaw Gold Zone
- Drill hole THN19-159 intersected gold mineralization as follows:
• 37.78m of 1.17 g/t Au from 95.00m depth
• Including 12.00m of 3.28 g/t Au from 118.00m depth
• Including 3.00m of 9.06 g/t Au from 125.00m depth
• Including 1.00m of 22.00g/t Au
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “The scale of the mineralized system at Thorn is impressive with two porphyry targets and a large-scale intrusion-related sediment-hosted gold-silver target already identified on this nearly 2,000 SQKM project. The consistent nature of the gold mineralization at the Outlaw Gold Zone is very encouraging. Based on geology, gold-in-soil and rock geochemistry and limited drilling, the Outlaw Gold Zone has a strike of 4.3km and a width of 1.5km.”
Mr. Thompson further stated, “The remaining drill results from the 2019 season shall be released as assays become available. All six drill holes from Chivas, our second porphyry target at Thorn, along with three drill holes from the Camp Creek porphyry target and the second hole drilled at Outlaw are still pending.”
VANCOUVER, British Columbia, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) announces a non-brokered private placement financing of up to $3,000,000 (the “Private Placement”) through the issuance of any combination of common shares of the Company (“Shares”), flow-through shares of the Company (the “FT Shares”) and charitable flow-through shares of the Company (the “Charitable-FT Shares”). The Shares will be priced at $0.20 per Share and the FT Shares will be priced at $0.24 per FT Share. The Charitable FT Shares are priced at $0.29 per Charitable FT Share.
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “We are pleased with the exploration results from the 2019 season, from which some results are still pending. While we anticipate ending 2019 with more than $3 million in cash, this financing will allow us to effectively plan for our 2020 exploration programs. These funds will give us the potential to materially advance select wholly owned projects providing the best position from which to create shareholder value”.
All securities issued pursuant to this Private Placement will be subject to a four month and one day hold period. The Private Placement is subject to acceptance by the TSX Venture Exchange (the “Exchange”).
The closing date for the Private Placement is scheduled to occur on or before November 27, 2019. The Company may pay a finders’ fee in respect of certain subscribers in accordance with the policies of the TSX Venture Exchange.
The Company may issue securities under the Private Placement in accordance with the provisions of applicable prospectus exemptions available to existing security holders, if there is interest. Any existing shareholders of the Company interested in participating in the Private Placement should contact the Company using the contact information below. The Private Placement is not subject to a minimum and the Company will provide an update on its intended use of proceeds, including approximate amounts, once subscriptions are confirmed.
The use of proceeds shall be for exploration expenditures on Brixton’s wholly owned exploration projects and for general working capital.
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-copper 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 and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton Metals please visit our website at www.brixtonmetals.com.
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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, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results 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.
VANCOUVER, British Columbia, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce initial and preliminary results from its phase two exploration program at its wholly owned Thorn Project located in the Golden Triangle of British Columbia. Brixton completed 3 lines for a total of 9.1 line km of Titan24 DCIP-MT (induced polarization-magnetotelluric) geophysical survey across the Camp Creek Copper Corridor. The 2019 phase two drilling consisted of a total of 7,213m within 13 holes. The depths of the holes varied from 308m to 862m. Two core holes were drilled at the Outlaw sediment hosted gold-silver zone (assays pending), six core holes were drilled at the Chivas Porphyry target, four holes were drilled at the Camp Creek Copper Corridor target (Oban diatreme breccia pipe and Glenfiddich Zone - two holes have assays pending and holes 151 and 153 are released herewith) and one hole at the Talisker Zone. The combined phase one and phase two drilling at the Thorn Project for 2019 is 8,042m.
Highlights and Key Findings
- Drilling of hole 151 and 153 was from drill pad 150 which has extended the Oban Zone polymetallic mineralization:
° THN19-151 returned 256.87m of 0.61 g/t Au, 50.18 g/t Ag, 1.20% Zn, 0.41% Pb or 2.31 g/t AuEq over 256.87m
° Including 24.40m of 2.42 g/t Au, 128.22 g/t Ag, 3.05% Zn, 1.02% Pb or 6.91 g/t AuEq over 24.40m
° Including 10.00m of 4.60 g/t Au 248.12 g/t Ag, 0.42% Cu 6.11% Zn, 1.99% Pb or 13.47 g/t AuEq over 10.00m
° THN19-153 returned 87.27m of 0.19 g/t Au, 79.43 g/t Ag, 0.49% Zn, 0.26% Pb or 1.65 g/t AuEq over 87.27m.
- The geophysical survey produced a chargeability high anomaly at the Oban Zone, which appears to form a northeast trend for 600m and remains open ended (see Figure 5 and Link to the preliminary 2D inversion results report below).
- New and very large porphyry target areas were generated through the re-analysis of regional stream sediment geochemical data by the BC Geological Survey, resulting in new mineral claims being staked by Brixton (see Figures 6 and 7).
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “Brixton continues to unlock a mountain of value at the wholly owned Thorn Project in the prolific Golden Triangle of BC. The Camp Creek geophysical anomaly suggests that we have a large untested target to the northeast from the Oban Zone. Further geophysical survey lines are planned for next season to map the extent of the anomaly.”
Table 1. Composite Assays for THN19-151