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Brixton Metals discovers gold-silver mineralization at Chivas Zone

Published 07 September 2017

Brixton Metals Corporation has announced drill results from the first ever holes into the Chivas Zone at its wholly owned Thorn Project located in the northern extension of the Golden Triangle, British Columbia, Canada.

Highlights

  • Drilling discovers Au-Ag mineralization over a large area and remains wide open
  • Mineralization and alteration style appear to be porphyry related
  • This is the first round of drilling ever at the Chivas Zone
  • Hole 142 intersected 6.45m of 4.86 g/t AuEq within 18m 1.83 g/t AuEq
  • Hole 143 intersected 8m of 4.01 g/t AuEq within 11m of 2.96 g/t AuEq
  • Hole 144 intersected 17.26m of 2.62 g/t AuEq within 52.00m of 0.87 g/t AuEq
  • Surface mapping identifies a new open ended 1.2 km copper corridor which is yet to be drill tested and several gold targeted holes have increasing copper grades at depth

All of the 2,455m (10 holes) at the Chivas Zone were drilled within an area of 800m by 800m. The holes were designed to test the 7 square kilometre gold-in-soil and IP geophysical anomaly at the newly discovery Chivas zone.

THN17-142 intersected two mineralized zones, an upper zone from 40m depth of 21.00m of 0.46 g/t Au and 39.74 g/t Ag or 1.03 AuEq. The lower zone intersected 18.00m of 0.99 g/t Au, 19.46 g/t Ag, 0.66% Zn, 0.19% Pb or 1.83 g/t AuEq from 161.00m depth. Included in this lower interval was 6.45m of 4.86 g/t AuEq as 2.63 g/t Au, 45.15 g/t Ag, 1.5% Zn, 0.18% Cu, 0.42% Pb.

THN17-143 intersected 11m of 2.96 AuEq starting at 59m depth as 0.54 g/t Au, 147.78 g/t Ag, 0.27% Zn, 0.25% Pb including 8m of 4.01 g/t AuEq as 0.71 g/t Au, 202.49 g/t Ag, 0.35% Zn, 0.34%Pb.

THN17-144 intersected 52m of 0.87 g/t AuEq as 0.31 g/t Au, 39.56 g/t Ag, including17.26m of 2.62 g/t AuEq as 0.61 g/t Au, 110.27 g/t Ag, 0.36% Zn, 0.36 Pb.

THN17-145 intersected 1.15m of 5.25 AuEq as 5.15 g/t Au, 7.30 g/t Ag, within 9.80m of 0.93 g/t AuEq.

THN17-147 intersected 1.00m of 5.10 g/t AuEq as 5.08 g/t Au, 1.6 g/t Ag within 18.97m of 0.51 g/t AuEq.

Several drill holes have increasing copper grades down hole and THN17-149 intersected 39m of 0.11% Cu. THN17-148 was abandoned due to poor ground conditions.

All reported assays are uncut weighted averages. The true width of reported mineralization is unknown at this time. Gold Equivalent values (AuEq) were calculated using the formula AuEq = $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/$1,200 x 31.104. This method assumes full metal recoveries as metallurgical work has not been conducted.

Chairman and CEO of Brixton, Gary R. Thompson stated, "We are excited to have completed the first ever drill program at the new Chivas Zone. It appears that we are on margin of a large porphyry system at Chivas, and moreover, these results support our thinking that we have a mineralized system with district scale dimensions at the Thorn Project." Thompson further stated, "A larger drill program with generally deeper holes will be required to properly test the potential of the Chivas discovery. The Thorn Property is largely underexplored with potential for both high grade and bulk tonnage precious metal targets."

About the Chivas Gold Zone (Thorn Project)

The Chivas Zone is defined as an open-ended northwest - southeast 3 kilometre mineralized trend based on a 7-square kilometre gold-copper-in-soil anomaly and the coincident strong IP chargeability anomaly. The Chivas gold anomaly was first identified in 2014 when the Company collected 16 soil samples along a break in slope over 600m where 12 of the 16 samples where anomalous, above 30 ppb Au with a high of 11,000 ppb Au.

There was no previous work reported from this area of the property. This zone represents an important new mineralized target and is part of a district scale system at the Thorn project. Mineralization is hosted by quartz-carbonate-pyrite, galena-sphalerite-sulphosalts veins, polyphase and/or hydrothermal breccias and fault zones within Stuhini Group volcanic rocks and is interpreted as being peripheral to a Au-Ag-Cu-Mo porphyry system.

The Chivas Zone is located about 3 kilometres southwest from the western edge of the sediment hosted Outlaw Gold Zone where hole 128 intersected 59.65m of 1.15 g/t Au, 5.64 g/t Ag, and about 3 kilometres south from the Oban Diatreme Breccia Zone where hole 60 intersected 95m of 628 g/t Ag and 1.71 g/t Au, 3.31% Pb, 2.39% Zn, 0.12% Cu.

The red-line boundary (Triassic-Jurassic unconformity) was mapped about 800 metres west of the Chivas anomaly. According to Kyba and Nelson of the BCGS, most major deposits in northwestern BC, including KSM, Brucejack and Eskay Creek, occur within 2 km of this regional red-line marker, which implies major regional-scale structures as metal-rich fluid pathways.



Source: Company Press Release