Brixton Metals Provides Update on its Hog Heaven Silver-Gold-Copper Project
VANCOUVER, British Columbia, Aug. 20, 2018 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSXV: BBB) (the “Company” or “Brixton”) is pleased to provide an update on its Hog Heaven project data review, new geophysical data acquisition and short term project development plans.
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Highlights from the work to date at the Hog Heaven project:
- Completed the historical assay data entry and drill log data entry. Total metres historically drilled on the project is 57,498m from 722 drill holes as rotary, reverse circulation and diamond drill core
- Completed 724 line kilometers VTEM Plus and horizontal magnetic gradiometer survey
- Completed the acquisition of 60 square kilometers of Lidar and digital aerial photography
- Received the exploration/drilling permit from Montana Department of Environmental Quality
- Renewed the operating permit with Montana Department of Environmental Quality
- Construction of a new core facility has been completed
- Brixton funded 2 M.Sc. research studies with Montana Tech University to look at alteration and ore mineralogy to further understand the hydrothermal fluid system to provide vectors for feeder zones of the mineralization
Chairman and CEO of Brixton, Gary R. Thompson stated, “The Hog Heaven project, which hasn’t seen any work since the mid-90s, is now drill ready. The project represents a high quality high-grade asset that we rarely see available in the market these days. The initial drill programs should focus on infill and confirmation drilling to support a NI-43-101 resource estimate and to confirm the presence of new mineralization on the property. Targets include near surface high sulphidation high-grade polymetallic-silver-gold rich veins and breccia, which is believed to be related to a porphyry target at depth. We are excited to drill some fresh core on the project.”
A detailed presentation on the Hog heaven projects is available at the following link:
http://brixtonmetals.com/wp/wp-content/uploads/2018/08/Hog-Heaven-August-2018-small.pdf
Drilling
Brixton is planning to initiate a nine hole drill plan for the fall of 2018 to twin and confirm some of the previous drilling and to test the high-grade feeder zones to the west of the Main Mine zone and south of the Ole Hill zone. Phase two drilling will focus on expanding the known mineralized zones, infilling areas of sparser drilling and testing some of the nearby compelling targets. Additional holes will test newly generated targets. The proposed drilling program is subject to future financing.
| A table of Historical Drilling Highlights: As previously released on January 15, 2018 | |||||
| Hole ID | From (m) | To (m) | Interval (m) | Ag g/t | AgEq g/t |
| FD-75-2 | 204 | 244 | 40 | 155 | 336 |
| FD-75-4 | 163 | 205 | 42 | 96 | 275 |
| FD-75-5 | 69 | 78 | 9 | 95 | 253 |
| FD-75-6 | 81 | 93 | 12 | 111 | 165 |
| FD-76-27 | 114 | 133 | 18 | 633 | 695 |
| BOD-79-2 | 0 | 11 | 11 | 472 | 490 |
| BOD-79-2A | 0 | 9 | 9 | 680 | 744 |
| AFR-79-2 | 55 | 59 | 5 | 738 | 913 |
| AFR-79-5 | 107 | 119 | 12 | 1089 | 2330 |
| AFR-79-5 | 279 | 305 | 26 | 211 | 268 |
| AFR-79-9 | 49 | 55 | 6 | 608 | 694 |
| AFD-79-8 | 43 | 66 | 23 | 599 | 687 |
| AFU-80-1 | 44 | 56 | 12 | 349 | 535 |
| AFR-80-4 | 108 | 136 | 27 | 329 | 527 |
| AFR-80-9 | 93 | 168 | 75 | 210 | 338 |
| AFR-80-26 | 17 | 84 | 67 | 302 | 391 |
| AFD-81-24** | 189 | 251 | 62 | 155 | 182 |
| AFR-81-8** | 61 | 116 | 55 | 254 | 411 |
| AFR-81-26** | 40 | 72 | 32 | 276 | 318 |
| AFR-81-38A** | 38 | 91 | 53 | 411 | 643 |
| AFR-81-40** | 0 | 43 | 43 | 356 | 375 |
| R-83-52** | 107 | 125 | 18 | 372 | 633 |
| * Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t ÷ 31.104 + $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $1 x % Pb ÷ 100 x 2204.63 + $1.20 x % Zn ÷ 100 x 2204.63/$17 x 31.104. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb. | |||||
| ** These intercepts have incomplete assay data for Cu, Pb and Zn. | |||||
| Note: The Qualified Person (“QP”) for Brixton cannot verify the drill results reported in the tables above or the other technical information set out in this news release. The precise location of the drill cores from the program is presently unknown and they have not been inspected by the QP, and therefore Brixton has not undertaken any re-logging, resampling or check assays; however, Brixton has no reason to doubt the results and considers the results relevant and suitable for disclosure. Data from the above drill results are historical results and it is unknown what type of quality-control programs were performed at the time. The QP also advises that true width of the above results cannot be determined at this time. | |||||
Geophysical surveys:
During May 2018, Brixton contracted Geotech Ltd. to carry out a helicopter-borne geophysical survey over the project. A total of 724 like-kilometers of geophysical data were acquired and consisted of Versatile Time-Domain (VTEM) Plus and horizontal magnetic gradiometer surveys.
The survey has been successful in identifying several magnetic and EM anomalies. It was observed that generally, known mineralization is located along magnetic low margins. Brixton is planning to drill test some of the magnetic anomalies, with the objective to identify additional high grade Ag-Au-Cu-Pb-Zn mineralization as well as testing for porphyry mineralization potential of the project.
Exploration Upside:
Main Mine Zone
The Main Mine zone is the most advanced target at the Hog Heaven Project and where most of the historical work was undertaken. The mineralization consists of Ag-Au-Cu-Pb-Zn mineralization that occurs at the contact between latite porphyry and volcanoclastics. There is a strong vertical and lateral metal zonation with increasing Au-Cu grades at depth within flat-lying ore bodies and a core of Ag +/- Au is haloed by Pb and Zn +/- Cu. The Main Mine zone was subject to a positive feasibility study produced by Coca Mines in 1988, but the mine construction was halted due to silver and gold prices dropping in 1990 (see News Release dated June 22, 2017). The Main Mine zone presents excellent exploration upside near surface as well as at depth (feeder zone).
Ole Hill Zone
Historically, mineralization has also been outlined in the Ole Hill area and occurs along the contact between, and within, both volcanoclastics and Precambrian siltites. Generally the gold content is higher at the Ole Hill zone than the Main Mine zone. Brixton is planning to drill test the extent of know mineralization at depth and on strike (some of the historic drillholes ended in mineralization).
Other Exploration Targets: In addition to the Main Mine and Ole Hill targets, nineteen historic adits and workings have been identified within the area. Two of the prospects occur at the contact between the Tertiary intrusive and volcaniclastic rocks, similar to the Main Mine. Three of the prospects occur in the Late Proterozoic Belt Supergroup rocks which Mauk (1983) believed to be part of the Revett Formation of the Ravalli Group.
Mary-Ann Bergmann Mine
The Mary-Ann Bergmann Mine had high grade ore mined and reported in a 1940 report. Congdon & Carey tested the extent of the mineralized pods in drill holes FD-77-33/FD-77-44/FD-77-45.
- FD-77-45 found a zone of silver mineralization with an average 4.3 ounces per ton silver over 45ft (13.7m) interval from 119ft depth (36.2m)
- Further suggestions for development of this area included the search for high grade, low tonnage pods similar to the originally mined ore which assayed as high as 240 ounces per ton
Martin Mine
The Martin Mine was a 100ft long adit in argillite. The mineralization was found in veins that were mined by hand-sorting material during 1939-1941. Assays reported were up to 1250 oz/t silver, up to 24 percent copper and up to 0.12 oz/t gold; 5 tons were mined in 1940 at 40-1250 oz/t silver.
- Mineralization consists of sulfides in silicified breccia zones in argillite as veins and breccia
- The vein hasn’t been mined below 300-level, where it may improve in width
- An ore shoot at a vein intersection 300ft north of the shaft hasn’t been mined below the 200-level. It widens downward between the 100 and 200 levels and may further widen at depth
- Two additional veins discovered by core drilling on the 100-level: one was a 6 feet wide vein returning 0.28 oz/t Au and 28 oz/t Ag and the second returned 0.31 oz/t Au and 30.86 oz/t silver
- There is a possible large-tonnage disseminated exploration target on the 100-level where 3- to 8-ounce per ton silver extends at least 80ft along a crosscut west of the Martin vein
Martin Lease
The Martin Lease and prospect had grab samples that assayed between 7 and 17 ounces per ton silver from samples of unknown width from silicified breccia zone. The Martin Lease could represent a possible Northeast extension of the Margarite Zone.
West Flathead Mine
- Past production was 3210 tons at 98.8 ounces per ton silver
- A caved-in shaft not mined out, where 360 tons were mined, had an average 8 percent copper and 12 ounces per ton silver
- Mineralization plunges to the southwest along the Belt unconformity
About the Hog Heaven Project
The property is located in Flathead County, 55 miles south-southwest of the town of Kalispell, in the northwest portion of the state of Montana, USA. The property is easily accessible by driving 10 miles of gravel road from a highway. The Hog Heaven mine historically (1928 – 1975) produced 6.7M oz Ag at an average grade of 29 troy ounces of Ag per ton, 3,000 oz Au, 23M lbs Pb, 0.6M lbs Cu from 230,000 tons and an additional 49,700 tons grading 9.35 troy ounces of Ag per ton. The ore was shipped directly to smelters. The mine was operated by Anaconda from 1929 to 1946 and by a lessee from 1963 to 1975.
Several silver, gold and base metal mineralized zones occur as breccia and veins hosted by permeable units of volcaniclastic rocks. The high-sulphidation mineralization is accompanied by silicification of the host rocks. Silver is the metal of primary interest, although the gold and base metals are significant and may provide by-product revenues. The vertical zonation of the mineralization at the Main Mine shows an increase in pyrite grain size, copper and gold content with depth suggesting the presence of a porphyry system at depth. Since the production periods at least 722 drill holes for 57,498m meters have been drilled. Currently, the Hog Heaven project does not host a NI-43-101 compliant resource estimate as defined by the CIM Definition Standards for Mineral Resources and Mineral Reserves.
Mr. Sorin Posescu, P.Geo., VP Exploration, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.
About Brixton Metals Corporation
Brixton is a Canadian exploration and development company focused on the advancement of its gold and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn gold-silver and the Atlin gold projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA. The Company is actively seeking JV partners to advance one or more of its projects. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. 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 at mitchell.smith@brixtonmetals.com or 604-630-9707.
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, TSXV final approval, and the exploration potential of the Hog Heaven project based on historical drill results and forward looking statements. 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.
Three photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/d736049e-0974-4d5c-9b76-8864fa7ebe12
http://www.globenewswire.com/NewsRoom/AttachmentNg/695baf3c-f777-4acc-a5b7-4649f32f1e01
http://www.globenewswire.com/NewsRoom/AttachmentNg/67277300-281e-41c8-900a-d92ea4a940e7