Brixton Metals Intersects 95m of 904 g/t AgEq Including 9.25m of 3,646 g/t AgEq (2,984 g/t Ag, 3.04 g/t Au and 11.7% Pb)
VANCOUVER, Jan. 5, 2012 /PRNewswire/ – Brixton Metals Corporation (TSX-V: BBB)
(the “Company” or “Brixton“) is pleased to announce assay results from the balance of the 2011
drilling program at its Thorn gold-silver-copper project located in
northwestern British Columbia, Canada. A total of 21 holes for 5,682m
were drilled during 2011 and all analytical results have now been
Oban Breccia Zone hole THN11-60 intersected from surface 95.08m of 904 g/t AgEq (1.71 g/t Au, 628.30 g/t Ag, 0.12% Cu, 3.31% Pb and 2.39% Zn).
Including 25.56m of 1,679 g/t AgEq (2.28 g/t Au, 1,300 g/t Ag, 0.22% Cu, 5.34% Pb and 2.51% Zn) and 9.25m of 3,646 g/t AgEq (3.04 g/t Au, 2,984 g/t Ag, 0.53% Cu, 11.65% Pb and 3.42% Zn).
Oban Breccia Zone hole THN11-57 intersected 37.72m of 252 g/t AgEq (2.08 g/t Au, 60.8 g/t Ag, 0.46% Cu, 0.25% Pb and 0.55% Zn) including 7.80m of 717 g/t AgEq (6.13 g/t Au, 197.0 g/t Ag, 1.38% Cu, 0.49% Pb and 0.38% Zn).
Mr. Gary R. Thompson, Chairman & CEO stated, “We are extremely pleased
to have discovered substantial near surface, high-grade mineralization
at the largely untested Oban Breccia Zone, which is located in the
heart of a 6 km mineralized corridor. Hole 60 significantly increases
the potential of the property. This high-grade zone remains open at
depth and on the eastern strike extensions.” Mr. Thompson further
added, “We believe that the Thorn project, subject to further drilling,
has the potential to host a high unit value polymetallic mineral
OBAN BRECCIA ZONE
Hole THN11-60 was collared as the most easterly hole within the Oban
drilling area at an elevation of 929m. It was drilled at an azimuth of
220 degrees with a dip of -70 degrees and to a total depth of 243.00m.
THN11-60 intersected 95.08m of 1.71 g/t Au, 628 g/t Ag, 0.12% Cu, 3.31%
Pb and 2.39% Zn or 904 g/t AgEq from 6.00m down hole. This included
9.25m of 3.04 g/t Au, 2,984 g/t Ag, 0.53% Cu, 11.65% Pb and 3.42% Zn or
3,646 g/t AgEq from 55.40m down hole. The entire 237.00m length of the
hole was mineralized. The lower segment of THN11-60 intersected
141.92m of 53 g/t Ag, 0.16 g/t Au, 0.20% Pb and 0.47% Zn or 83 g/t AgEq
from 101.08m down hole.
The mineralization is hosted by Cretaceous Oban Breccia, interpreted to
be a magmatic hydrothermal breccia pipe. It is typically characterized
by 5-20cm, sub-rounded to sub-angular fragments of Thorn Stock
(quartz-feldspar porphyry) with lesser andesitic tuff and rhyolite
fragments. The breccia is generally clast-supported with a
fine-grained, dark rock flour matrix. Mineralization occurs as blebs,
disseminated, chaotic sulphide stringers and sulphide rinds surrounding
fragments with up to 10% pyrite, 5% boulangerite (Pb-bearing
sulfosalt), 2% sphalerite, 2% other sulphosalts and minor
chalcopyrite. Given the nature of the Oban breccia zone Brixton is
unable to assess the true width of the high-grade intercept.
Mineralization controls will be the focus of our upcoming drill
Hole THN11-57 was collared in the Oban Breccia at an elevation of 918m
and was drilled as a vertical hole to a depth of 264.00m. THN11-57
intersected 103.91m of 0.26 g/t Au, 66.8 g/t Ag and 0.22% Pb and 0.63%
Zn or 107 g/t AgEq from 73.39m down hole. In addition, THN11-57
intersected 37.72m of 2.08 g/t Au, 60.8 g/t Ag, 0.46% Cu, 0.25% Pb and
0.55% Zn or 252 g/t AgEq from 186.48m down hole. This 37.72m intercept
included 7.80m of 6.13 g/t Au, 197.0 g/t Ag, 1.38% Cu, 0.49% Pb and
0.38% Zn or 717 g/t AgEq from 208.20m down hole.
Hole THN11-56 was designed to target the northeast extension of the
Talisker Zone and secondly, to test the unconformity-related
mineralization (Thorn Stock and overlying volcanic rock contact). The
hole was collared at an elevation of 1,005m and was drilled at an
azimuth of 145 degrees with a dip of -70 degrees. THN11-56 intersected
19.78m of 1.02 g/t Au, 35.5 g/t Ag, and 0.30% Cu or 2.4 g/t AuEq (134
g/t AgEq) from 82.30m down hole including 0.90m of 12.35 g/t Au, 138.0
g/t Ag and 0.49% Cu or 15.8 g/t AuEq (875 AgEq) from 93.59m down hole.
The mineralization starting at 82.30m is hosted at the unconformity
contact indicating that this geological feature is an important gold
and silver target due to its lateral extent potential.
Hole THN11-61 was collared at an elevation of 860m and was drilled at an
azimuth of 325 degrees and a dip of -50 degrees. This hole was designed
to test for down-dip mineralization of the historic hole THN05-37 which
intersected 4.00m of 4.44 g/t Au, 407.9 g/t Ag and 2.95% Cu or 984 g/t
AgEq. Hole THN11-61 intersected 2.02m of 1.4 g/t Au, 52.4 g/t Ag and
0.75% Cu or 230 g/t AgEq.
Holes THN11-59 and THN11-58 returned insignificant results.
Silver Equivalent (AgEq) values were calculated using $1,088 per ounce
of gold, $19.62 per ounce of silver, $3.20 per pound of copper, $0.80
per pound of lead, $0.90 per pound of zinc and 100% metal recoveries
AgEq = Ag g/t + (Au g/t x 34.98/0.63) + (Cu% x 70.55/0.63) + (Pb% x
17.64/0.63) + (Zn% x 19.84/0.63)
Quality Assurance & Quality Control
The Thorn Project was managed by Equity Exploration Consultants Ltd.
Stewart Harris, P.Geo. is Equity’s in-house QAQC expert who conducted a
detailed QAQC analysis of the 2011 analytical results. Drill core
samples were packed into rice sacks and sealed with uniquely-numbered
straps to deter and identify evidence of tampering. Rice sacks were
shipped via Small’s Expediting to the ALS Laboratory Group (ALS)
preparation lab in Whitehorse, YT which has been certified compliant
with ISO9001:2008 requirements. All standards fell within control
limits and blank samples fell within acceptable detection limits.
Toby Hughes, P. Geo., is the Qualified Person as defined under National
Instrument 43-101 standards and has reviewed and approved this News
About The Thorn Project
The 19,000-hectare Thorn Property is located in the Sutlahine River area
of northwestern British Columbia, Canada. The Thorn project exploration
is focused on a network of high sulphidation epithermal veins and
breccia zones and shares many similarities with other high sulphidation
epithermal gold, silver and copper deposits around the world, including
La Bodega in Colombia, Lepanto in the Philippines and El Indio in
The geology of the Thorn project is a Cretaceous aged porphyry complex.
Several porphyry intrusive phases and related breccia zones outcrop on
the property. In addition to the high-grade potential of the Thorn
project, potential exists for large tonnage porphyry targets. The Oban
Zone is located in the heart of a 6 km mineralized corridor. Brixton
Metals Corporation holds a two-phase option agreement with Rimfire
Minerals Corporation (now Kiska Metals Corporation). Brixton can earn
either a 51% or 65% interest by making cash and share payments and
incurring $5 million and $10 million in exploration expenditures
respectively. Kiska may elect to form a Joint Venture with Brixton at
the 49/51 or 35/65 stage, or take dilution. Brixton shall be the
operator in either case.
Brixton also announced that it will allow its option to acquire a 100%
interest in its Kahilt property to lapse (the “Alaskan Property”). The
Alaskan Property is governed by an option agreement between the Company
and Millrock Resources Inc. (“Millrock”) dated October 14, 2010, as
amended. Brixton is also transferring certain claims staked by the
Company to Millrock. After careful consideration of assay results and
the Company’s assessment of the stage of the Alaskan Property,
management and the Board of Directors has determined that the company
shall focus its resources on the Thorn property. As of December 31, 2011, Brixton had no further financial or other
commitments under the Millrock option agreement.
About Brixton Metals
Brixton is an exploration company engaged in the acquisition and
exploration of precious metal assets. Brixton’s management is focused
on advancing large-scale metal deposits to feasibility. The Thorn
Project is Brixton’s flagship property and is centred on a network of
gold-silver-copper-lead-zinc-bearing vein corridors and breccia zones.
The Thorn property is located in northwestern British Columbia, Canada
and about 50 km from the past producing Golden Bear Mine and 130 km
southwest from the village of Atlin, BC. Brixton Metals Corporation
shares trade on the TSX-V under the ticker symbol BBB and its warrants
trade under the symbol BBB.WT.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, P.Geo, Chairman and CEO
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, or other similar expressions. All
statements, other than statements of historical fact, included herein
including, without limitation 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 TSX-V 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.
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.
SOURCE Brixton Metals Corporation
PDF with caption: “BRIXTON METALS CORPORATION – Table 1″. PDF available at: http://stream1.newswire.ca/media/2012/01/05/20120105_C2203_DOC_EN_8655.pdf
PDF with caption: “BRIXTON METALS CORPORATION – Table 2″. PDF available at: http://stream1.newswire.ca/media/2012/01/05/20120105_C2203_DOC_EN_8656.pdf
PDF with caption: “BRIXTON METALS CORPORATION – Table 3″. PDF available at: http://stream1.newswire.ca/media/2012/01/05/20120105_C2203_DOC_EN_8657.pdf