Brixton Metals updates technical report for its Thorn


VANCOUVER, British Columbia, July 09, 2021 (GLOBE NEWSWIRE) – Brixton Metals Corporation (TSX: BBB, OTCQB: BBBXF) (the “Company” or “Brixton“) is pleased to announce that it has commissioned an updated technical report with an effective date of June 23, 2021 (“Updated technical report“) for its wholly owned Thorn Cu-Au-Ag-Mo project located in the Golden Triangle of northwestern British Columbia, Canada (the”Property“). The property is within the traditional territory of the Taku River Tlingit First Nations and the Tahltan First Nations. Brixton is actively drilling and conducting geophysical, geochemical and geological surveys on the property, as previously described in its May 26, 2021 press release.

Updated technical report

Brixton retained Archer, Cathro & Associates (1981) Limited (“Archer catherine“) to prepare the updated technical report in accordance with the disclosure and reporting requirements set out in National Instrument 43-101 of the Canadian Securities Administrators” Disclosure Standards for Mining Projects “(“Regulation 43-101”) For the Property. The updated technical report includes an updated inference resource on the property, as shown in Table 1-1.

The property is located in the Sutlahine River region of northwestern British Columbia (BC), approximately 130 km southeast of Atlin, BC, and 90 km to east of Juneau, Alaska. The property consists of 222 claims covering a total area of ​​2,596 km2 (259,621 ha). The property is 100% owned by Brixton, with a small number of the original claims subject to underlying royalties. The first discovery on the Property was made in 1951 and numerous exploration programs were carried out there over the following 52 years; however, Brixton is the first company to hold the title of the entire 2,595 km2 bundle of earth.

Table 1-1: Declaration of Inferred Mineral Resources, Thorn Project, British Columbia, SRK Consulting (Canada) Inc., June 23, 2021.

Deposit Type Density (t / m³) Tons x 1000 Grade in situ
AgEq (g / t) Ag (g / t) Au (g / t) Cu (%) Pb (%) Zn (%)
Oban In the pit 2.82 3 961 106.88 48.2 0.38 N / A 0.29 0.56
Underground 2.82 605 115.87 48.15 0.43 N / A 0.35 0.66
Glenfiddich In the pit 2.84 1,240 63.03 15.41 0.45 0.12 N / A N / A
Talisker In the pit 2.76 2 272 82.65 14.71 0.72 0.12 N / A N / A
Total 2.8 8,078 94.01 33.74 0.49 0.12 0.3 0.57
Deposit Type Metal content
AgEq (oz) x 1000 Ag (oz) x 1000 Au (oz) x 1000 Cu (lb) x 1000 Pb (lb) x 1000 Zn (lb) x 1000
Oban In the pit 13,611 6 138 48 N / A 25,324 48,902
Underground 2 254 937 8 N / A 4,668 8,803
Glenfiddich In the pit 2,513 614 18 3,280 N / A N / A
Talisker In the pit 6,037 1,075 53 6,011 N / A N / A
Total 24,415 8 764 127 9,291 29,992 57,705

Remarks

  1. Mineral resources have been classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM“) Definition Standards for mineral resources and mineral reserves.
  2. Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative precision of the estimates. The dosages of silver, gold, copper, lead and zinc have been capped / cut where appropriate.
  3. The in-pit portion is reported at an equivalent dollar cut-off value of US $ 15 / t in a Whittle shell and US $ 50 / t for an underground portion of the Oban deposit. Whittle shells have been designed based on a 55 ° slope angle and 90% recovery for all metals. The block models are 10 x 10 x 10 m, 5 x 10 x 5 m and 5 x 10 x 5 m for Oban, Glenfiddich and Talisker respectively.
  4. Dollar and silver equivalents are based on May 2021 long-term consensus prices US $ 20 / oz silver, US $ 1,500 / oz gold, US $ 3.2 / lb copper, $ 0.9 US / lb lead and US $ 1.1 / lb zinc, with metal recoveries of 90%.
  5. Please see the updated technical report for a discussion of the key assumptions, parameters and methods used to estimate the mineral resources and any known legal, political, environmental or other risks that could materially affect the potential development of the mineral resources.
  6. “NA” in the above table indicates that the respective estimated values ​​for copper, lead and zinc are significantly less than 0.1%. Therefore, they should not be considered to have “reasonable prospects for eventual economic extraction” for the respective mineralized zone. Currently, no metallurgical study has been carried out on the respective mineralized zones.

https://brixtonmetals.com/wp-content/uploads/2021/07/2CB028.004_Thorn_NI_43-101_Thorn_20210623.pdf

The property is located in a geologically favorable zone and has significant porphyry and epithermal style mineralization potential. The size of the property, the high number of minfile occurrences, and regional trends in mineralization indicate that there is high potential for multiple porphyry centers.

The updated technical report updates and replaces the technical report published in 2014 titled “Independent Technical Report for the Thorn Project, Sutlahine River Area, British Columbia, Canada” by Myondo and Nowak of SRK Consulting (Canada) Inc . (SRK). The lead author and Qualified Person (QP) responsible for the updated technical report is Heather Burrell, P.Geo., A senior geologist at Archer Cathro. Ms Burrell, who is independent from Brixton, conducted a property survey on March 10, 2021, on behalf of the Company. Ms. Burrell has no affiliation with Brixton other than an independent client-consultant relationship. Andre M. Deiss, Pr.Sci.Nat., A resource geologist at SRK reviewed and wrote Section 14 (resource estimate) of the updated technical report. Mr. Deiss is an independent consultant without affiliation with Brixton. Ms. Burrell and Mr. Deiss, because of their education, experience and professional association, are considered Qualified Persons (QP) within the meaning of NI 43-101.

President and CEO Gary R. Thompson said, “Brixton continues to advance its Thorn project with the goal of growing its resource base through the drilling of new discoveries and advancement of targets. known exploration. The inferred resources shown in the June 23, 2021 report represent some of the near-surface high sulphidation veins and breccia zones along the Camp Creek corridor and represent an 11.8% increase in silver equivalent resources over the 2014 inferred resource estimate. Current drilling targets porphyry-style mineralization at depth beneath these high sulphidation zones. Brixton has dramatically increased its chances of success for Project Thorn with the large number of large scale copper-gold-silver-molybdenum targets on hand and the Camp Creek target is one of the many target areas for Project Thorn.

Qualified Person and NI 43-101 Disclosure

Ms Heather Burrell, B. Sc., P.Geo of Archer, Cathro & Associates (1981) Limited and M. Andre M. Deiss, B. Sc. (Hons), Pr.Sci.Nat. of SRK Consulting (Canada) Inc., both independent of Brixton, are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of the technical information contained in this press release.

About Brixton Metals Corporation

Brixton is a Canadian exploration and development company focused on advancing its mining projects towards feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver project, the Atlin Goldfields projects located in the NWBC, the Langis-HudBay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in Northwestern Montana, United States. under JV with HPX. Brixton Metals Corporation shares trade on the TSX Venture Exchange 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, President and Chief Executive Officer
Phone. : 604-630-9707 or email: [email protected]

For Investor Relations, please contact:

Mitchell Smith, Vice President of Investor Relations
Phone. : 604-630-9707 or email: [email protected]

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.

The information contained in this press release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future events and not past. In this context, forward-looking statements often deal with expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect” and “have the expectation”. intention ”, statements that an action or event“ could ”,“ could ”,“ could ”,“ should ”or“ will ”be taken or occur, including statements which deal with the quantity and / or the potential mineral content, the potential size and expansion of a mineralized zone, the 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 the products. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to be materially different from results, performances. or future achievements expressed or implied by these forward-looking statements. These 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 additional risks identified in the Company’s Annual Information Form or in other reports and documents filed with the TSXV and applicable Canadian securities regulatory authorities. Forward-looking statements are made based on the beliefs, estimates and opinions of management at the date the statements are made and the Company assumes no obligation to update any forward-looking statements if such beliefs, estimates and opinions or Other circumstances were to change, except as required by applicable securities laws. Investors are cautioned against assigning undue certainty to forward-looking statements.


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