Brixton Metals Summarizes 2021 and Outlines its Fully Funded 2022 Plan at the Thorn Copper-Gold Project

Friday, 21. January 2022 14:00

VANCOUVER, British Columbia, Jan. 21, 2022 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to provide highlights of the results of its 2021 exploration activities and outlines its 2022 exploration plans to advance the district-scale Thorn Copper-Gold-Silver-Molybdenum Project. The Thorn Project is located 90km ENE from Juneau, Alaska and is situated within the traditional territory of the Tahltan and Taku River Tlingit First Nations.

Corporate Highlights from 2021

  • Brixton raised $12.2M including strategic investor Crescat Capital and is now fully funded for its 2022 exploration at the Thorn Project
  • Ivanhoe Electric Inc. consolidates shares-warrants held by Robert Friedland and the HPX USD$44.5M/11-year Earn-in Agreement on Brixton’s Hog Heaven Copper-Gold-Silver Project
  • Expanded the technical team by the addition of Colin McGillivray, Senior Modeler and Susan Flasha, Corporate Development

Thorn Project Highlights from 2021

  • Confirmed a new discovery of a Cu-Au-Ag-Mo porphyry at the Camp Creek Target: THN21-184 yielded 821.25m of 0.40% CuEq including 318m of 0.69% CuEq including 14m of 1.04% CuEq. The target remains open at depth
  • Completed 5770.12m of drilling, consisting of 2662.78m at Camp Creek and 3107.34m at Trapper
  • Demonstrated gold endowment of the Trapper Target with drill hole THN21-186 yielding 139.00m of 2.14 g/t Au including 11.5m of 19.26 g/t Au including two highest grade intercepts to date of 0.46m of 276.0 g/t Au and 0.50m of 160 g/t Au. The target remains open along strike and at depth

  • Collected and analyzed 417 rock samples and 607 soil samples which identified several new areas of interest for copper and gold mineralization and extended the gold geochemical footprint of the Trapper anomaly to 4km in length
  • Completed 1072-line kilometers of Magnetic and Mobile MT geophysical surveys, structural mapping, geochronology and geochemistry supporting an emerging Triassic-Eocene porphyry Cu-Au-Ag-Mo belt with multiple porphyry centers
  • Expanded and upgraded the Thorn camp capacity to host more than 50 people

Planned 2022 Thorn Program

  • Drill up to 20,000 meters with a primary focus on the Camp Creek Cu-Au-Ag-Mo Porphyry Target and the Trapper Gold Target
  • Secondary targets include drilling at the Outlaw Gold-Silver Target and potentially drilling at the Metla Copper-Gold Porphyry Target
  • Conduct geophysical surveys over the Metla and Trapper Target areas
  • Collect 3000 to 5000 soil-rock samples and geochemical modeling on new targets
  • Collaboration with MDRU to improve our porphyry fertility understanding and porphyry vectoring techniques

Chairman and CEO Gary R. Thompson Stated, “We are very excited about the new discoveries that were made at the Thorn Project in 2021. This season is shaping up to be transformative for Brixton as we continue to demonstrate the potential of this emerging copper-gold porphyry belt within the 2600 square kilometer, wholly owned Thorn Project. We plan to be drilling multiple large-scale targets with a minimum of 2 drills turning all season.”

Camp Creek Copper Porphyry Target

Brixton Metals made significant progress in 2021 on the blind Camp Creek Copper Porphyry Target. A total of 2662.78m of core was drilled with THN21-183 being the deepest hole on the property. Drill holes 162, 181,183 and 184 show copper, gold, silver and molybdenum grades, as well as porphyry index values (MPIx), increasing with depth and ending in mineralization. The bottom of holes 183 and 184 are approximately 286m apart.

Click here for Figure 1. Camp Creek Copper Drilling 2021, CuEq (left) and MPIx Values (right), Looking East:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-1_21Jan2022-CC.jpg

Collaborators at UBC’s Mineral Deposit Research Unit (MDRU) identified four geochemically distinct porphyry phases, with “porphyry X” being the primary mineralized unit. Porphyry X is a crowded plagioclase porphyry of Cretaceous age, characterized by well-defined stacked biotite, a feature typical of mineral-related porphyry phases. Mineralization is also hosted in Triassic Stuhini Group sedimentary rocks, which are intruded by the porphyry phases. Radiometric dating of these porphyries using the U-Pb zircon method showed they were emplaced approximately 85 million years ago, confirming an age similar to the Pebble copper-gold-molybdenum deposit in southwest Alaska. The reference to Pebble is important because pre-faulting architecture by Goldfarb et al. (2013) place Thorn inboard of Pebble during deposition and that about 1100km of dextral displacement has occurred post accretion, moving Pebble to where it is located today. MDRU conducted short-wave infrared (SWIR) analyses and interpretation. The SWIR analyses indicate higher temperatures towards the west-northwest, please see Figure 2 below.

Click here for Figure 2. Current Research in Collaboration with MDRU on SWIR Analysis, Camp Creek Target:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-2_21Jan2022-swir.jpg

The Camp Creek porphyry mineralization is thought to have a footprint of about 1km by 2km based on the surface expression of several different high-sulphidation mineralized zones including the Talisker and Glenfiddich Zones and the Oban Diatreme Breccia Zone.

The aim of the 2022 drilling at Camp Creek will be to test for the high-grade core of this copper dominant porphyry system with 4 to 6 deep holes with the aid of drill-wedges.

The Trapper Gold Target

The Trapper Gold Target was a major focus of the 2021 season. Following the 2020 acquisition of the Trapper claims and royalties, this was the first full exploration season conducted by Brixton which successfully highlighted the gold endowment of the target.

Brixton drilled 15 holes for a total of 3107.34m. Standout holes include THN21-186 that reported 139.00m of 2.14 g/t Au including 11.5m of 19.25 g/t Au and THN21-195 with 84.00m of 1.1 g/t Au. Table 1 below provides the 2021 Trapper drill results, including the balance of the 2021 Trapper drill results not previously released.

The Trapper Target consists of volcanic and volcaniclastic rocks of the Upper Triassic Stuhini group, which are intruded by Cretaceous quartz diorite, interpreted as part of the Thorn Magmatic Suite. The quartz diorite is associated with high-grade gold mineralization at Trapper, including a broad gold zoning that extends into the Stuhini volcanic rocks.

Table 1. Trapper Gold Target Select Assay Intervals from 2021.

HoleFrom
(m)
To
(m)
Interval
(m)
Au
(g/t)
Au
(g*m)
Date Released
THN21-1857.82274.00266.180.1438.00November 12th, 2021

Incl. 7.8219.0011.181.0211.45
THN21-1862.49190.00187.511.60300.82November 12th, 2021







Incl. 48.00187.00139.002.14297.46
Incl. 49.5061.0011.5019.26221.54
Incl. 50.0050.500.50160.0080.00
And60.5461.000.46276.00126.96
THN21-1872.8258.0055.180.2111.72November 12th, 2021

Incl. 30.7043.0012.300.688.30
THN21-18882.50141.0058.500.116.52December 6th, 2021

Incl. 131.00141.0010.000.373.71
THN21-1893.62121.60117.980.1315.71December 6th, 2021

Incl. 3.6225.0021.380.439.12
THN21-19072.0094.7822.780.122.83December 6th, 2021
THN21-191168.82188.5019.680.6412.54December 6th, 2021

Incl. 172.30180.007.701.3410.31
THN21-19213.9433.6719.730.9318.41December 6th, 2021

Incl. 13.9414.440.5020.5010.25
THN21-193101.45118.0016.550.294.88This Release
THN21-19412.0016.004.000.240.95This Release
THN21-19552.00198.00146.000.74108.42December 6th, 2021



Incl. 114.00198.0084.001.1092.53
Incl. 167.00198.0031.002.0062.15
THN21-19647.00143.5096.500.5047.81This Release

Incl. 49.0054.505.503.4719.07
THN21-19735.0040.005.002.1910.94This Release

And108.00111.533.531.946.84
THN21-198258.00264.006.000.603.57This Release
THN21-1997.00258.47251.470.024.68This Release

Core samples were cut in half and sampled predominantly at 1m intervals. 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.

Click here for Figure 3. Visible Gold Drill Core Intercepts from the Trapper Target:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-3_21Jan2022-VG.jpg

Geochronology was completed at Trapper yielding an age date from U-Pb Zircon method of 85.2 ± 1.2 Ma for the quartz diorite, the primary lithology which hosts gold mineralization. This Cretaceous age date is contemporaneous with the porphyry host rocks at Camp Creek Porphyry Target. Terrane Geosciences was contracted to conduct a structural mapping in the area, please see Figure 3 below. At surface, soil and rock geochemistry outline a 4km north-northwest gold trend and up to 1.5km in width with 2021 rock grab samples assaying up to 135.5 g/t Au. Gold-in-soil values have a strong positive correlation to lead and zinc. Several new copper-gold-silver showings were discovered outside the Trapper Gold trend in 2021 with values up to 23.5 g/t Au and 5.2% Cu.

Click here for Figure 4. Trapper Gold Target, Geology, Drilling and Rock Geochemistry:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-4_21Jan2022-trapper.jpg

Trapper will be a primary drill target for the 2022 season including 10,000-15,000m of drilling, with additional mapping, geochemical and geophysical surveys.

Outlaw Gold Target

The Central Outlaw Target is located more than 3km to the southeast from the Camp Creek Target. Gold Mineralization is hosted with clastic sediments as Triassic Stuhini group interbedded siltstone-graywacke where a gold-in-soil anomaly is about 5km long in an east-west trend. Mineralization is stratiform and within structural controlled areas and is thought to be to related to Jurassic dacite dykes that intrude the sediments. The Central Outlaw Zone has seen most of the drilling to date providing a continuous strike of 600m with drill results up to 59m of 1.1 g/ Au. The highest surface rock grab sample was from the East Outlaw area returning 22.98 g/t Au. Please see Figure 4 below for the gold-in-soils and the Central and East Outlaw drilling and rock sample results.

The plan at the Outlaw Target in 2022 is to drill for continuity and extension of gold mineralization between the Central and East Zone through 4-6 widely spaced drill holes.

Click here for Figure 5. Outlaw Zone, Gold-in-soils and Central-East Outlaw Zone Drilling:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-5_21Jan2022-outlaw.jpg

Metla Copper-Gold Porphyry Target

Metla is a copper-gold porphyry anomaly within the Thorn Project and is located about 15km to the Southeast from the Trapper area. The Metla claims were acquired in 2020 from Stuhini Exploration. Major rock units at Metla include sedimentary and mafic- to ultramafic-intrusive rocks of the Stikine assemblage, volcanic and volcaniclastic rocks of the Stuhini Group, Late Cretaceous to Paleocene felsic intrusive rocks, and hydrothermal breccia dykes that crosscut all of the previous units. Recent U-Pb zircon age dating indicates that the Au-Cu bearing granodiorite is Triassic in age, 220 +/- 3.1 Ma. Several distinct styles of mineralization occur in the Metla area including potassic altered diorite unit with bornite, chalcopyrite and chalcocite that returned 4.7% Cu, 1.8 g/t Au, 31 g/t Ag. Showings of massive pyrite, chalcopyrite and sphalerite are hosted in the hydrothermal breccia where rock samples have returned up to 62.7 g/t Au and 4.54% Cu. A 1989 trench by Cominco returned 9m of 4.6 g/t Au.

The 2022 exploration program will include extensive geochemistry, geological mapping and airborne radiometric and electrical geophysical surveys over the Metla target and will be used to define drill targets.

Click here for Figure 6. Metla Target Area, Copper-Gold Geochemistry and Geology:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-6_21Jan2022r.jpg

Plum Copper Target

The Plum Target is located 8 km east of the Metla Target, immediately west of Tatsamenie Lake. The geology is dominated by Mississippian volcanic rocks of the Stikine assemblage, with local Lower Permian limestone. The aforementioned rocks are intruded by Triassic and Jurassic diorites and Eocene mafic dykes. Copper mineralization is vein-hosted with chalcopyrite and pyrite, including local chalcocite. This mineralization is found within broader zones of silica and pyrite alteration. Grab samples collected in 2020 found multiple occurrences with greater than 1% Cu, including one rock grab sample assay of 3.32% Cu.

Follow-up prospecting, mapping and soil-rock sampling is planned for 2022.

Click here for Figure 7. Plum Target Copper Geochemistry:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-7_21Jan2022r.jpg

East Copper Porphyry Target

The East Target is located 25km east of Metla and 17km north-northeast of the Golden Bear Mine. The geology is dominated by Middle to Late Triassic quartz diorite and granodiorite intrusive rocks, with windows of Stuhini Group volcanic rocks. There are two main copper showings on either side of the Samotua River. The Ant showing is to the west and includes a 2km x 0.8km gossan with associated copper soil anomaly. Copper values in rocks reach up to 3.62% Cu and have not yet been drill tested. The Bing showing is on the east side of the river and includes widespread copper +/- molybdenum mineralization as disseminations and within porphyry style veining stockworks. Limited historic drilling here did not target the area hosting the most anomalous samples. Surface rock grab samples have returned up to 5.15% copper and 145 g/t silver.

Follow up mapping and rock-soil sampling are planned for 2022.

Click here for Figure 8. East Copper Target, Copper Geochemistry:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-8_21Jan2022r.jpg

West Copper Porphyry Target

The West copper target is located 5km west-southwest of the Camp Creek Target. Geology at the West Target is comprised of Triassic volcanic rocks of the Stuhini Group, and Jurassic argillite and conglomerate of the Laberge Group. These Mesozoic volcanic and sedimentary rocks are cut by an Eocene granite (54.2 +/- 0.8Ma) and alkali feldspar granite batholith of the Sloko-Hyder Plutonic suite, some of which has been locally metamorphosed. Mineralization is vein-hosted and disseminated, with porphyry-style quartz-pyrite-chalcopyrite veins in the Eocene intrusive and Stuhini volcanic rocks. A float sample collected in 2020 assayed 4.27% Copper.

Follow-up mapping and rock sampling are planned for 2022.

Click here for Figure 9. West Copper Target Geochemistry:
https://brixtonmetals.com/wp-content/uploads/2022/01/Figure-9_21Jan2022r.jpg

South Gold-Copper Target

The South Target is located approximately 35 km south of the Trapper Target. Geology includes greenstones of the Whitewater Metamorphic Complex, coarse clastic sedimentary rocks of the Stikine Assemblage and Late Triassic quartz diorite intrusive rocks. Known mineralization includes vein-hosted chalcopyrite and disseminated pyrite and chalcopyrite, although only reconnaissance geochemistry surveys have been completed in the target area to date. The target includes one of the highest-grade gold samples in silts from the BC Regional Geochemical Survey, with 990.7 ppb Au and elevated Cu-Ag-As. This RGS sample is one of the highest in BC. For reference, the highest RGS value in the entire KSM-Brucejack-Treaty area is 618 ppb and the highest RGS value in the Golden Triangle is 1,087 ppb Au at Johnny Mountain.

Follow up soil-rock geochemical surveys, prospecting and recon-mapping are planned for 2022.

For a map of all of the Thorn Project Target Areas, please visit the website’s Thorn Project page: https://brixtonmetals.com/thorn-gold-copper-silver-project/

Mr. Gary R. Thompson, P.Geo., is the Chairman and CEO for the Company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the data disclosed in this press release, including the sampling, ‎analytical and test data underlying the information and has approved the technical information in this press release.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver Project, the Atlin Goldfields Projects located in NW BC, the Langis-Hudbay silver-cobalt Project in Ontario and the Hog Heaven silver-gold-copper Project in NW Montana, USA, under an Farmout Option Agreement 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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Primary Logo

Figure 1

Camp Creek Copper Drilling 2021, CuEq (left) and MPIx Values (right), Looking East
Figure 2

Current Research in Collaboration with MDRU on SWIR Analysis, Camp Creek Target
Figure 3

Visible Gold Drill Core Intercepts from the Trapper Target
Figure 4

Trapper Gold Target, Geology, Drilling and Rock Geochemistry
Figure 5

Outlaw Zone, Gold-in-soils and Central-East Outlaw Zone Drilling
Figure 6

Metla Target Area, Copper-Gold Geochemistry and Geology
Figure 7

Plum Target Copper Geochemistry
Figure 8

East Copper Target, Copper Geochemistry
Figure 9

West Copper Target Geochemistry
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