Brixton hits 234 metres of 0.57% CuEq at B.C. project
Brixton Metals Corp. [BBB-TSXV] on Monday released its final 2022 drilling result from the Camp Creek copper-gold-silver molybdenum porphyry target on its 100%-owned Thorn Project, which is located in British Columbia’s Golden Triangle area.
The company said high-grade gold was intercepted above the porphyry, yielding 55.8 g/t gold over 1.5 metres. Hole THN22-221 yielded 779.65 metres of 0.37% CuEq (copper equivalent) ending in mineralization at 1,375 metres, including 582.44 metres of 0.45% CuEq, including 234 metres of 0.57% CuEq from 940 metres depth, including 20.85 metres of 0.78% CuEq.
This large copper dominated porphyry target remains wide open, including at depth, the company said in a press release.
Brixton is a junior exploration and development company with a focus on precious metals and four exploration projects, including the Thorn copper-gold-silver and the Atlin Goldfields projects in northwestern B.C., the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in northwest Montana.
Its shareholder group includes Bay Street financier Rob McEwen, Pan American Silver Corp. [PAAS-TSX, NASDAQ], Hecla Mining [HL-NYSE], and financier Eric Sprott, who holds a 10.3% stake.
In November, 2022, said a subsidiary of BHP Billiton Ltd. [BHP-NYSE, BHPLF-OTCPK] acquired a 19.9% stake in Brixton via a private placement financing that raised $13.6 million and was priced at 18 cents per share. In connection with the private placement, Brixton entered into an investment agreement with BHP that included the right to form a joint technical advisory committee to provide guidance to Brixton, and the right of first offer on any transfer of all or part of the Thorn Project.
“We are very pleased with the 2022 program at the Camp Creek Porphyry Target as it continues to demonstrate large-scale upside potential,’’ said Brixton Chairman Gary Thompson. During the 2023 exploration campaign, he said the company will work alongside BHP by formulating a 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 a fully-funded 2023 drill program in April and early May,’’ Thompson said.
The Thorn Project is a 2,863-square kilometre claim group located approximately 90 kilometres from Juneau, Alaska, and 65 kilometres from tide water. The project is located within the Taku River Tlingit First Nation’s traditional territory.
On January 13, 2023, Brixton Metals shares closed at 25 cents and currently trade in a 52-week range of 31 cents and 11 cents.
The objective at Camp Creek is to tag the copper-rich core of the porphyry system. Drilling at Trapper follows the 2020 acquisition of the Trapper claims and royalties. Drilling in 2021, successfully highlighted the gold endowment of the target with highlight results including 187.50 metres of 1.60 g/t gold.
Gold mineralization at Trapper is structurally controlled and northwest, east-west and northeast trends have been identified. The gold is associated with base metal veins (lead, zinc and copper) that have offset jogs and broken patterns.
“With the use of oriented core measurements, surface mapping, geochemistry and magnetics, the aim is to achieve predictability of the gold-bearing zones,’’ the company has said.