Brixton Metals posts Typhoon™ geophysics and additional assays from Hog Heaven Project, Montana

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Brixton Metals Corp. [TSXV-BBB; OTCQB-BBBXF] announced additional results from the ongoing exploration program on the Hog Heaven Project, operated by Ivanhoe Electric Inc. [TSX-IE, NYSE-IE] under a definitive Earn-in Agreement. Hog Heaven is located 50 miles southwest of Kalispell, Montana, USA, and is an advanced-stage, high-sulphidation, epithermal copper-silver-gold project having historical production with copper porphyry potential.

Highlights: Step-out drilling at Hog Heaven extends mineralization 150 metres to the west of nearest drilling. Results of Typhoon™ geophysical survey at Hog Heaven will guide future drilling plans

HHD-012 intersected 157 metres of high sulphidation epithermal mineralization approximately 150 metres southwest of the nearest hole (HHD-010). This intercept is of a similar grade and quality to that seen in previously reported holes demonstrating that the Hog Heaven epithermal system has growth potential to the west of the Flathead Mine.

HHD-012 intersected 156.88m of 0.34 g/t Au, 18.77 g/t Ag, 0.09% Cu, 0.24% Pb, 0.22% Zn (from 282.12 metres) or 156.88m of 0.85 g/t AuEq, including 49.92m of 0.40 g/t Au, 29.51 g/t Ag, 0.11% Cu, 0.40% Pb, 0.22% Zn (from 282.12 metres) or 49.92m of 1.22 g/t AuEq.

Drill hole HHD-012 has been successful in opening a large new area prospective for additional shallow high sulphidation epithermal mineralization and the underlying porphyry source. Mineralization intersected by HHD-012 remains open in multiple directions and to depth.

Brixton Chairman and CEO Gary R. Thompson stated: “Ivanhoe Electric’s Typhoon™ geophysical survey identifies a strong conductor of about one square mile in size in the south-central area of the project where limited drilling has been conducted. We look forward to the next batch of drill results from the ongoing program at the Hog Heaven Project.”

Ivanhoe Electric’s current exploration drill program at Hog Heaven, as first reported in our October 2023 news release, has now completed 12 drill holes totaling 10,905 metres. Exploration drilling has stepped out to the west and southwest, where mineralization remains open. One diamond drill rig is currently on site and will operate through the winter as weather permits. In November 2023, Ivanhoe Electric conducted its proprietary Typhoon™ geophysical survey covering approximately 10 km2 area, which was designed to cover the core of known prospectivity.

Ivanhoe Electric and Brixton entered into an earn-in agreement in 2021. Under the earn-in agreement, Ivanhoe Electric may earn up to a 75% interest in the Hog Heaven Project by making cash payments totaling USD$4.5 million and spending USD$40 million on exploration by 2032. Ivanhoe Electric will earn an initial 51% interest by making a total of USD$4.5 million in cash payments and incurring USD$15 million in exploration expenditures. Ivanhoe Electric may earn the additional 24% interest in the project by incurring a further USD$25 million.

Brixton acquired the Hog Heaven project from Pan American Silver in 2017 and conducted data compilation-digitization and 3D-modelling, soil geochemical survey, geological mapping, geophysical surveys. In 2020, Brixton drilled 7 confirmation core holes at the Main Mine area. Highlights include drill hole HH20-02 that intersected a broad 224.85m zone of mineralization yielding 78.16 g/t Ag, 0.66 g/t Au, 0.24% Cu (75.07m-299.92m) which includes the following sub-intervals: 5.48m of 445.79 g/t Ag, 1.41 g/t Au, 1.50% Cu; 2.13m 0f 917.36 g/t Ag, 2.00 g/t Au, 3.06% Cu; 53.49m of 165.90 g/t Ag, 1.28 g/t Au, 0.55% Cu; 13.56m of 185.80 g/t Ag, 2.24 g/t Au, 0.76% Cu and 1.37m of 1,750 g/t Ag, 5.39 g/t Au, 2.65% Cu.

Historically, previous operators drilled 722 holes (mostly shallow depths) over the Main Mine and Ole Hill Targets. A feasibility study and mine permit were received in 1989 to construct a mine based on the shallow oxide gold-silver mineralization; however, development did not proceed. Select underground workings at the West Flathead Mine reported silver grades from fumaroles and fractures that ranged from 300 oz/ton to 3,000 oz/ton.

The Hog Heaven copper-silver-gold Project is an advanced-stage exploration project which historically produced high-grade silver, gold, and copper. Between 1913 and 1975, Anaconda Copper Mining and lessees produced 6.7Moz Ag, 3,000 oz Au, 23M lbs Pb, and 0.6M lbs Cu from 0.23Mt of direct-ship ore, grading 29 opt Ag. The road-accessible property is located in Flathead County, 55 miles south-southwest of Kalispell, northwestern Montana.

Brixton Metals wholly owns four exploration projects: its flagship Thorn copper-gold-silver-molybdenum project, the Hog Heaven copper-silver-gold Project in NW Montana, optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project in northwest BC.

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