VANCOUVER, Aug. 8, 2013 /CNW/ - Brixton Metals Corporation (TSXV: BBB) (the "Company" or "Brixton") is pleased to announce that it has completed its phase one exploration program at its 100 percent owned Thorn project. Brixton also reports that the recently announced financings were fully subscribed and are now closed.
Brixton completed 28 drill holes for a total of 4,617 metres of NQ sized core Diamond drilling, collected 1,264 soil samples, 7 rock grab samples and undertook structural geological mapping. Drilling was focused on the Oban diatreme-breccia zone. The soil sampling was conducted in the Oban-Camp Creek, Outlaw, Amarillo and the West La Jaune areas. The structural geology work covered an area of 8 km x 3 km within the southern portion of the property. All core samples have now been submitted to ALS Minerals for analysis and will be released upon receipt and QAQC review.
Chairman and CEO of Brixton, Gary Thompson stated "This phase of exploration was successful in reducing drilling exploration costs from $400 per metre to $300 per metre on an all in cost basis, leaving Brixton with a healthy treasury of approximately $1.2M going into the fall season. An extended thank you goes out to all of our contractors and service providers who made this possible." Mr. Thompson further added "The drilling was successful in identifying new zones of mineralization in the Oban area ranging up to 250 metres from the discovery hole 60. Results are pending. The soils were effective in identifying new soil anomalies from previously untested ground with a high of 207 g/t Ag located southeast of Oban and 13.5 g/t Au located northeast of the Oban zone. The structural work has increased our understanding substantially, showing an abundance of fault networks that provide new targets for future drilling". Click this link to see a photograph of the core http://brixtonmetals.com/2013-core-photo/ Please note the core shown here does not represent all core drilled this season.
Highlights of Soil Sampling Results
A total of 1,264 soil samples were collected during the phase one 2013 exploration program. Soil samples were collected from the B-horizon or talus fines where poor soil development was present. Soil samples were submitted to AGAT Laboratories preparation lab in Whitehorse, Yukon and were analyzed by Aqua Regia Digest with ICP/ICPMS finish. AGAT Laboratories is recognized to meet international standards ISO 9001:2000.
Outlaw Area
A total of 673 samples were collected in the Outlaw area. Sampling was conducted as infill to historical sampling at 25 metre stations and 50 metre line spacing in a north-south direction. Sampling was also conducted along ridge lines at 100 metre spaced stations. Results from Outlaw this season returned 226 samples greater than 30 ppb Au, 132 samples greater the 100 ppb Au, 18 samples greater than 500 ppb Au and 5 samples greater than 1,000 ppb Au with a high of 2390 ppb Au. The gold in soil geochemical anomaly at Outlaw is 2.5 km x up to 0.9 km in an east-west direction.
Click this link to see Geochemical sampling results at Outlaw: http://brixtonmetals.com/outlaw-soil-sample-results-2013/
Oban-Camp Creek Area
A total of 296 samples were collected in the Oban-Camp Creek Area.
Results from this area returned 56 samples greater than 30 ppb Au, 41 samples returning greater the 100 ppb Au, 9 samples returned greater than 500 ppb Au and 9 samples returned greater than 1000 ppb Au with a high of 13,500 ppb Au and 81.1 ppm Ag., located 550 metres northeast of the main Oban area.
Click this link to see gold in soil Geochemical sampling results at Oban-Camp Creek: http://brixtonmetals.com/oban-camp-creek-soil-sampling-results-2013/
Structural Geology Summary
Structural geology conducted by SRK Consultants Canada Inc., identified a consistent structural network of faults with the 8 km x 3 km area. Areas with a high degree of cross faulting have shown to be of importance for mineralization. The preliminary interpretation suggests that the master faults trend north-south to north northeast with subordinate northeast-southwest, and east-west faults.
It appears that the maximum and favourable dilation occurs in the northwest-southeast direction as evidenced by veining in several rock outcrop locations. Based on this structural work a high number of targets have been identified for further testing.
About Brixton Metals and its Thorn Project
Brixton Metals is an exploration company focused on the advancement of high-grade precious metal assets to feasibility. The primary focus at the Thorn project is high-grade silver-gold-lead-zinc-bearing diatreme-breccia zones and high-grade gold-silver-copper veins. Secondary targets include porphyry, skarn, replacement, and bulk tonnage gold targets. The Thorn project covers a Jurassic to Cretaceous volcanic-porphyry complex that shares many similarities with other high sulphidation deposits around the world such as Lepanto-FSE in the Philippines, Penasquito in Mexico and El Indio in Chile. The 27,000-hectare Thorn Project is located in the Sutlahine River area of Northwestern British Columbia, Canada, approximately 40 km from Chieftain's Tulsequah Chief mine development.
Mr. Sorin Posescu, P.Geo., VP Geology, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.
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
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.
SOURCE Brixton Metals Corporation
For further information:
Mr. Gary R. Thompson, Chairman and CEO,
Tel: 604-630-9707
