Mining Explorers 2013: Brixton Metals Corp. - November 03, 2013

Providing coverage of Alaska and Northwest Canada's mineral industryNovember 2013 Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©1999-2019 All rights reserved. The content of this article and website may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.

Vol. 18, No. 44

Week of November 03, 2013

Mining Explorers 2013: Brixton Metals Corp.

BBB: TSX

Chairman and CEO: Gary Thompson

Director: George Salamis, Geologist

Senior Vice President Geology: Sorin Posescu

Brixton Metals Corp. returned in 2013 to its flagship 27,000-hectare (66,717 acres) Thorn silver-gold-copper-zinc-lead property located in the Sutlahine River area of northwestern British Columbia some 130 kilometers (81 miles) southwest of Atlin. Hecla Mining Co. made a C$2.6 million strategic investment in Brixton in February, purchasing about 19.8 percent of the junior’s issued and outstanding common shares and buying more shares in June for C$378,000 to maintain Hecla’s pro-rata interest in Brixton. The junior followed up on its 2011 discovery of substantial near-surface, high-grade mineralization (95.08 meters of 904 grams-per-metric-ton silver-equivalent) at Thorn and impressive 2012 drilling results in the Oban Breccia Zone by completing phase 1 of a 2013 exploration program in early August. The work included 4,617 meters in 28 NQ-size drill holes in the Oban zone that delivered additional high-grade intercepts. The Oban zone remains open at depth and strike in several directions. The 2013 drilling confirmed that the high-grade mineralization is not restricted to the Oban breccia and is also hosted by the Thorn stock. Brixton also collected 1,264 soil samples and seven grab samples at the Oban-Camp Creek, Outlaw, Amarillo and the West La Jaune areas; and conducted structural geological mapping in an eight-kilometer-by-three-kilometer area to the south. Aside from identifying new zones of mineralization and new soil anomalies in untested areas, including the high of 207 g/t silver located southeast of Oban and 13.5 g/t gold located northeast of the Oban zone, Brixton said phase 1 was successful in reducing drilling exploration costs from C$400 per meter to C$300/meter on an all-in cost basis, leaving about C$1.2 million in cash going into the fall season.

Cash and short-term deposits: C$1.2 million (Aug. 8, 2013)

Working capital: C$1.2 million (Aug. 8, 2013)

Market capitalization: C$8.8 million (Sept. 27, 2013)

Suite 1411 - 409 Granville St. Vancouver, B.C. Canada V6C 1T2

Tel: 604-630-9707 • Fax: 888-863-3810

www.brixtonmetals.com

Mining News North - Phone: 1-907 522-9469
[email protected] --- https://www.miningnewsnorth.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (North of 60 Mining News)(Petroleum News Bakken)(Petroleum News)(PNA)©2013 All rights reserved. The content of this article and website may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.