NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S.
VANCOUVER, Sept. 6, 2011 /CNW/ - Brixton Metals Corporation (TSX-V: BBB)
(the "Company" or "Brixton") announces an update on the current exploration programs for both its
Thorn Property in North Western B.C. and its Kahilt Property in Alaska.
Of the 2011 25-hole drill program at its Thorn gold-silver-copper
project located in Northwest British Columbia, a total of 12 holes for
3,525 meters have now been completed with mineralization observed in
every hole. Drill holes THN-44, 45, 46, and 47 are pending final assays
and QAQC which should be available by the second week of September.
Prospecting on the northern portion of the property has identified two
new targets. The first target displays classic quartz flooded
epithermal textures hosted in altered volcanic rocks. This area
returned up to 383 ppb of gold from previous soil sampling and up to
1.4 g/t of gold from a rock-float sample. Additional prospecting, soil
sampling and mapping are planned to identify drill targets. The second
new zone, which is within a large gossanous bowl further north, was
identified as a series of quartz veins 5 to 30 meters wide and
undetermined length with disseminated and fractured filled sulphides.
Assays are pending.
Exploration in the Kahilt region of Alaska was completed September 1,
2011. The program consisted of mainly rock samples and to a lesser
extent soil and stream sediment geochemical sampling for a total of 201
samples. Work was conducted on both the Cristo and A-B claim blocks.
Focus was on the Monte Cristo gold target within the Cristo claim
block. The Monte Cristo showing consists of several outcrops of well
exposed, intensely fractured, sheared and iron-carbonate altered
volcanic and intrusive rocks. Continuous composite rock and talus fines
were collected from the base of the outcrop for several hundred meters
at two locations. Mineralization consists of fracture-filled and
disseminated pyrite, pyrrhotite and lesser arsenopyrite ranging from 1%
to 3% and locally up to 10%. Assays are pending. Previous
reconnaissance rock sampling returned up to 4.2 g/t gold from rock grab
samples in the Monte Cristo target area. Monte Cristo appears to be a
structurally controlled and intrusion related gold system.
Brixton also announces that it has granted an aggregate of 1,400,000
incentive options (the "Options"), vesting over a one-year period, to
purchase common shares of Brixton exercisable at a price of $0.11 per
common share until ten years from the date of grant to directors,
officers, employees and consultants of the Company.
The Options are granted pursuant to the Company's stock option plan,
which was approved by shareholders at the Company's annual general
meeting of shareholders held on May 27, 2011. The Company's stock
option plan and the grant of the Options is subject to the final
approval by the TSX Venture Exchange.
About Brixton Metals
Brixton is a Vancouver based mineral exploration company engaged in the
acquisition and exploration of precious metal assets. Brixton's
management is focused on advancing large-scale metal deposits to
feasibility. Brixton holds two properties: Thorn (BC), and Kahilt
(Alaska). The Thorn property is a high-grade gold-silver-copper project
located 50 kilometers from the past producing Golden Bear Mine in
Northwest BC. The Kahilt Project is a gold-copper porphyry target
located in the Kahiltna Terrane of Alaska. The Kahiltna Terrane hosts
the giant Pebble gold-copper deposit of Anglo-American and Northern
Dynasty. Brixton's Kahilt Project is adjacent to the Whistler
gold-copper deposit being developed by Kiska Metals, and the Estelle
gold property being explored in joint venture by Millrock Resources
with Teck American Incorporated. Brixton Metals trades on the TSX-V
under 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
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, or other similar expressions. All
statements, other than statements of historical fact, included herein
including, without limitation, statements about the interpretation of
drill results are forward looking statements. 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 TSX-V 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.
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:
For more information about Brixton please visit our website at www.brixtonmetals.com.
Peter Oates, Investor Relations Manager
Brixton Metals Corp.
(604) 630 9707
Director of Operations
CHF Investor Relations
416 868 1079