Brixton Metals Drills 40m of 1.02% CuEq within 235.91m of 0.8% CuEq within 967.71m of 0.40% CuEq at its Camp Creek Porphyry Target, Thorn Project

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Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to report its first drill hole 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

  • Hole THN22-201 yielded 71m of 0.40% CuEq
    • Including 492.71m of 0.60% CuEq
    • Including 365.00m of 0.70% CuEq
    • Including 235.91m of 0.80% CuEq
    • Including 150.00m of 0.92% CuEq
    • Including 128.00m of 0.94% CuEq
    • Including 40.00m of 1.02% CuEq
  • The copper dominant porphyry mineralization remains wide open including at depth

Chairman & CEO, Gary Thompson, stated, “We are encouraged by these results which supports our belief that the Camp Creek Target is a large Cu-Au-Ag-Mo porphyry system with a 1km by 2km area which remains largely untested. The XRF data that we are collecting on the core and soils has been an invaluable tool as a real time proxy for copper grades for drill hole planning and new porphyry target generation.

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

The Camp Creek acid-sulphate alteration and geochemical expression further to the northeast is covered and unconformably overlain by a late rhyolite flowdome complex which suggests 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 THN22-201.

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 do not consider metals recoveries.

The formula is: CuEq % = Cu % + (0.617248 * Au g/t) + (0.008072 * Ag g/t) + (0.000419 * Mo ppm).

Figure 2. Drill Collar Location Map for the Camp Creek Porphyry Holes with CuEq Values.

Vice President of Exploration, Christina Anstey, stated, “Hole 201 has generated the highest copper grades encountered on the Camp Creek Porphyry Target to date. The mineralization remains open in several directions. While we have yet to tap the higher-grade core of the porphyry, we are having success with meaningful step outs and starting to demonstrate the large scale of this system.

Discussion

The objective of hole THN22-201 was to reach a depth of 1500m between the 2021 holes THN21-183 and THN21-184, where both holes ended in increasing copper grades downhole at 1336m and 1298m respectively. However, due to poor ground conditions hole THN22-201 was terminated at 1302.71m. Calc-alkalic porphyry Cu-Au-Ag-Mo mineralization is disseminated and 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.

Holes THN22-200 and THN22-202 (assays pending) were from the same pad located 284m southwest from collars THN21-184 and THN22-201. These two holes were drilled as pilot holes to the limits of the drill with the objective of using the larger drill to re-enter the hole and drill deeper if warranted. Hole 200 did not return any significant results and was drilled to a depth of 630m.

Hole THN22-213 was located 235m to the west-southwest from the collar for holes 201 and 184. Hole 213 was drilled to a depth of 1243m which ended in similar porphyry mineralization hosted in Porphyry X and hornfels sediments with assays pending. See Figure 2 for collar locations.

The objective of further drilling is to test for the high-grade core of the Camp Creek Porphyry.

Currently, the Company is drilling hole THN22-221 which is collared 276m northeast from the collar for holes 201-184, see Figure 2.

Figure 3. Cross Section of Hole THN22-201.

Figure 4. Hole THN22-201 Strip Log for Lithology Cu-Au-Ag-Mo and Copper Equivalent Values.

Figure 5. Core Photographs of Chalcopyrite-Molybdenite Mineralization in Hole THN22-201.

Figure 6. Core Photographs of Mineralization in Hole THN22-201.

Figure 7. Core Photographs of Mineralization in Hole THN22-201.

Figure 8. Core Photographs of Mineralization in Hole THN22-201.

Additional Data Collection

The Reflex XRF geochemical analyzer is being used on the Camp Creek core for copper and molybdenum as a proxy for real time metal values in parts per million. Upon completion of logging and cutting of the core, a hand-held grinder is used to collect a representative pulp sample across interval.  XRF data is being collected on soils once dried for zinc values as a proxy for gold on the  Trapper Target and analyzed for copper values at the Metla, Val, West and East porphyry targets to identify real time anomalies for immediate follow-up.

To date Brixton’s field crews have acquired 704 soils and 315 rock samples collectively from the Trapper, Metla, Val and Outlaw Targets.

In addition to the XRF, oriented core, rock density, Terraspec mineral analyzer, magnetic susceptibility and conductivity data are being collected from the core.

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.

Mr. Gary R. Thompson, P.Geo., Chairman and CEO of Brixton, is the Qualified Person “QP” who has reviewed and approved the technical information on this news release. The QP advises that true width of the above results cannot be determined at this time.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Projects (under option to Pacific Bay Minerals) located in NW BC, the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven silver-gold-copper Project in NW Montana, USA (under option to Ivanhoe Electric Inc.). 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: info@brixtonmetals.com

For Investor Relations, please contact:

Mitchell Smith, VP Investor Relations

Tel: 604-630-9707 or email: mitchell.smith@brixtonmetals.com

 

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.


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