Brixton Metals provides an update on the Hog Heaven Copper-Gold-Silver Project, Montana, USA
VANCOUVER, Nov. 04, 2021 - Brixton Metals Corp. (TSX: BBB, OTCQB: BBBXF) (the "Company" or "Brixton") is pleased to announce an update on the Hog Heaven Project which is currently being operated under a definitive earn-in JV Agreement with Ivanhoe Electric Inc.[1], a privately-owned mineral exploration and development company led by Chairman and CEO, Robert Friedland (see news release dated March 2nd, 2021). The Hog Heaven Project is a high sulphidation epithermal copper-gold-silver project with porphyry potential and historical production located in the state of Montana, USA.
Highlights
- Completed a 14,500-meter re-logging program of current and historic drill core
- Re-sampled approximately 2,600 pulp samples from historic drill holes at Flathead Mine and Ole Hill (assays pending)
- Collected 337 soil samples and additional rock chip samples
- Confirmed and updated geological mapping across the district
- A 3D induced polarization (IP) survey along with a ground gravity survey was conducted over the entire project
- Completed a Phase 1 Environmental Site Assessment (ESA)
Since the beginning of their work program in early 2021, Ivanhoe Electric has been focusing their work campaign on re-logging and sampling of the well-preserved historic drill core with the goal of re-classifying the historic mineral resources to NI 43-101 compliant standards. Additionally, geophysical surveys have been completed to assist with identifying additional zones of high-grade mineralization, as well as porphyry-style mineralization, throughout the district.
Click here for Figure 1. Brixton Metals Mineral Claim Holdings Map:
https://brixtonmetals.com/wp-content/uploads/2021/11/Fig-1-03112021.jpg
Click here for Figure 2. Hog Heaven Project Location Map:
https://brixtonmetals.com/wp-content/uploads/2021/11/Fig-2-03112021.png
Vice President of Exploration, Christina Anstey, stated, "We are encouraged to see the progress the team at Ivanhoe Electric has been able to complete in such a short period of time. We look forward to seeing the results of the on-going scoping study along with potential new discoveries that have been outlined with the new detailed sampling and advanced geophysical surveys that were carried out across the district."
About the Hog Heaven Cu-Ag-Au Project - Montana, USA
The Hog Heaven Cu-Au-Ag Project is an advanced stage exploration property, 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 the town of Kalispell, northwestern Montana, USA.
On March 2, 2021, Brixton and HPX signed a USD$44.5 million definitive agreement for an 11 year earn-in joint venture on the Hog Heaven Project to earn 75 percent. The HPX agreement was assigned to Ivanhoe Electric Inc.
Qualified Person
Mr. Gary R. Thompson, P.Geo., Chairman, CEO and Director of the Company who is a qualified person as defined by National Instrument 43-101, has reviewed, and approved the technical information in this press release.
About Brixton Metals Corporation
Brixton Metals 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 option to Ivanhoe Electric Inc., see March 2, 2021 news release). Brixton Metals Corp. 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
[1] On April 30, 2021, High Power Exploration Inc. ("HPX"), transferred its rights and assets, including assigning the Hog Heaven Earn-In Agreement, to its affiliate company, Ivanhoe Electric Inc. under a contribution agreement.
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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/bce13d3e-055e-4d6a-8549-746227f9efa5
https://www.globenewswire.com/NewsRoom/AttachmentNg/d19b0553-845e-46fb-8269-194c04bb4bb6
