Brixton Metals commences 2024 drill season at Thorn Project, British Columbia
Brixton Metals Corp. [TSXV-BBB; OTCQB-BBBXF] reported that its Thorn exploration camp is now open for the season and drilling has commenced. Brixton is fully funded for the 2024 exploration program with plans to drill test several new copper porphyry targets, including the Trifecta, Cirque, and North Copper Targets, in addition to further drilling at the Camp Creek Porphyry Target. The Thorn Project is situated within the traditional territory of the Tahltan and Taku River Tlingit First Nations, British Columbia.
2024 Thorn Exploration Plan Highlights: The 2024 exploration plan consists of 12,000-17,000 metres of drilling across several target areas, collecting 2500 rock and soil samples, as well as a ~90 km2 ground MT Geophysics survey.
Drilling has begun at the Camp Creek Copper Porphyry Target to test for a high-grade copper core to the Camp Creek porphyry. This first hole THN24-286 is being drilled from the same pad as the 2023 hole, THN23-277, where copper abundance as chalcopyrite and quartz vein density are increasing downhole.
The bottom 84 metres of hole 277 (957-1041m) returned 0.25% copper, 0.09 g/t gold, 3.78 g/t silver and 142 g/t molybdenum, including 2 metres of 0.66% copper, 0.24 g/t gold, 12.0 g/t silver from 1032.88 metres. Hole 277 did not reach its target depth due to poor ground conditions.
The second Camp Creek hole is planned as a northwest step out from holes 184 and 201. Hole 184 ended at 1198m in strong copper mineralization with the bottom of the hole returning 318m of 0.42% copper, 0.17 g/t gold, 3.87 g/t silver, and 294 g/t molybdenum, and hole 201 intersected 150m of 0.60% copper, 0.19 g/t gold, 5.12 g/t silver and 391 g/t molybdenum. The objective is to test for a high-grade copper core to the Camp Creek porphyry.
The Trifecta Copper Target is located 1.5km southeast of Camp Creek and may be drill tested based on recent surface copper-in-rock and soil results and historical drilling, which returned encouraging copper-molybdenum results. The objective of this work is to search for a new porphyry copper centre.
The Cirque Copper-Molybdenum Target is located 3km east of Camp Creek where drilling will test for a potential new porphyry centre.
The North Copper Target area is located 15km northwest of Camp Creek, centered on a large surface copper anomaly. Drilling is planned upon completion of the MT survey and additional mapping and sampling with the objective of confirming a new copper porphyry center.
Chairman and CEO Gary R. Thompson stated: “The Brixton team is excited to kick off the 2024 season. The Company has $12.5 million budgeted for the Thorn Project in exploration expenditures with the focus on new copper-gold porphyry mineralization. The scale of surface copper-gold mineralization is remarkable and Brixton is well positioned to generate new discoveries.”
The Trifecta Target lies between the Camp Creek porphyry target, the Outlaw Sediment-hosted Gold Target, and the Chivas Porphyry Target. Surface mineralization is expressed as structurally controlled narrow quartz veining with pyrite and chalcopyrite.
The Cirque Target area, located 3km northeast from the main Camp Creek drilling, was revisited in 2023, which identified a 1km by 2km northwest trending area of pyrite-chalcopyrite mineralization.
In the northwest corner of the Thorn Project, the Copper Target comprises a 15km by 5km area located 15km northwest of Camp Creek.
A ground magnetotelluric (MT) geophysical survey of approximately 90 km2 in area is planned prior to drilling the King Copper Target.
While the dominant focus for 2024 at the Thorn Project is to drill test copper porphyry targets for new discovery, the company continues to review gold targets for drill testing in 2024. These may include selective drilling at the Trapper Epithermal Gold Target (best intercept to date: 64m of 5.7 g/t Au), the Outlaw Sediment-hosted Gold Target (best intercept to date: THN-14-128 returned 59.65 meters of 1.15 g/t Au and 5.64 g/t Ag from a depth of 76 meters) and/or the Metla Target where surface rock grab samples to date returned up to 62.7 g/t Au.
Brixton Metals is collaborating with the University of British Columbia’s Mineral Deposit Research Unit as part of the BC Porphyry Study. An M.Sc. research project has commenced on the Camp Creek Porphyry Target with the goal of establishing geochemical and alteration vectors towards blind porphyry mineralization.
The Board of Directors, on receipt of a recommendation from the Compensation Committee, has granted an aggregate of 7,950,000 incentive stock options to officers, directors, employees and consultants to the company at a per share exercise price of $0.13 for a period of 10 years from the date of grant. The total number of optionees is 25. The Options represent 1.7% of the issued and outstanding shares in the capital of the Company. The total options granted to date including this new grant is 5.94% of the issued outstanding shares in the capital of the company.
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.