VANCOUVER, Feb. 22, 2012 /CNW/ - Brixton Metals Corporation (TSX-V: BBB) (the "Company" or "Brixton") announces the completion of its independent summary report. The report was submitted by Equity Exploration Consultants Ltd for the 2011 Geological, Geochemical and Drilling program on the Thorn Ag-Au-Cu-Pb-Zn project located in northwestern British Columbia, Canada. The assessment report was filed with the Ministry of Energy, Mines and Petroleum Resources for the Government of British Columbia.
Summary of Equity Exploration Report:
The 2011 diamond drill program on the Thorn property consisted of 21 drill holes for a total of 5682.37m of core. This drilling, directed primarily at high-sulphidation vein targets and secondarily at the Oban breccia zone:
- Intersected substantially higher grades near-surface (95.08 m grading 628 g/t Ag, 1.71 g/t Au, 3.31% Pb and 2.39% Zn in THN11-60) in the Oban breccia zone than had been previously drilled
- Expanded the mineralized zone at Talisker from 200 m to 500 m strike length, with the best 2011 intersection grading 1.41 g/t Au, 19 g/t Ag, 0.25% Cu over 49.78 m (THN11-51)
- Confirmed the presence of unconformity-related mineralization in one of the four holes which tested the contact between the Thorn stock and the nonconformably overlying Windy Table volcanic rocks. THN11-56 intersected 0.9 m grading 12.35 g/t Au, 138 g/t Ag and 0.49% Cu within intensely silicified Thorn Stock starting less than 2 m below the unconformity
- Showed increasing Au and Cu grades at depth within the Oban Breccia, exemplified by the intersection of 18.58 m grading 4.1 g/t Au, 0.93% Cu and 103 g/t Ag in THN11-57, starting at a vertical depth of 201 metres below surface
- Confirmed the presence of a broad fault/vein zone at the Lagavulin Vein, including 1.75 m grading 7.14 g/t Au, 245 g/t Ag and 0.35% Cu in THN11-54
- Intersected narrow Cu-rich veins at depth corresponding to the MP Vein, including 0.74 m grading 4.14% Cu, 384 g/t Ag and 1.22 g/t Au in THN11-45
In 2011, a total of 104 rock samples, 159 soil samples, and 2 silt samples were collected from the Thorn Property. Mapping and rock sampling were conducted in various locations within the Thorn Stock, illuminating the structural setting of the veins and leading to development of several 2012 drill targets.
Nineteen rock samples returned values with greater than 0.3 g/t Au, with the highest grading 20.90 g/t Au and 1100 g/t Ag. Silt and soil sampling were concentrated on the ridges north of the Sutlahine River, yielding generally low geochemical values. A number of claims were added to Brixton's land position at Thorn increasing the size of the property from 19,000 hectares to 25,000 hectares.
Mr. Gary R. Thompson, Chairman & CEO stated, "We are very pleased to have received the completed report for our 2011 drill program. Thanks to the superb results that were achieved overall during the 2011 program, we are now planning an aggressive exploration program on the Thorn project for the upcoming season. As previously stated, we strongly believe that the Thorn project, subject to further drilling, has the potential to host a high unit value polymetallic mineral deposit. I would like to take this opportunity to thank all of the people involved in the Thorn project during 2011 who contributed to a very successful program."
Quality Assurance & Quality Control
The Thorn Project was managed by Equity Exploration Consultants Ltd. Stewart Harris, P.Geo. is Equity's in-house QAQC expert who conducted a detailed QAQC analysis of the 2011 analytical results. Drill core samples were packed into rice sacks and sealed with uniquely-numbered straps to deter and identify evidence of tampering. Rice sacks were shipped via Small's Expediting to the ALS Laboratory Group (ALS) preparation lab in Whitehorse, YT which has been certified compliant with ISO9001:2008 requirements. All standards fell within control limits and blank samples fell within acceptable detection limits.
Toby Hughes, P. Geo., is the Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this News Release.
The summary results in this news release were previously stated in the Brixton's news releases dated January 5, 2012 and October, 25, 2011.
About The Thorn Project
The 25,000-hectare Thorn Property is located in the Sutlahine River area of northwestern British Columbia, Canada. Exploration is focused on porphyry related mineralized breccia and on a network of high-low sulphidation epithermal veins which shares many similarities with other high sulphidation epithermal gold, silver and copper deposits around the world like Lepanto in the Philippines and El Indio in Chile.
The geology of the Thorn project is a Cretaceous porphyry complex. There are several separate porphyry intrusive phases and at least one related breccia body outcrop on the property. In addition to the high-grade potential of the Thorn project, the geological setting indicates potential for porphyry mineralization at depth. The Oban Zone Ag-Au-Cu-Pb-Zn breccia-hosted mineralization is located in the heart of a 6 km mineralized corridor within the central portion of the property. Brixton Metals Corporation holds a two-phase option agreement with Rimfire Minerals Corporation (now Kiska Metals Corporation). Brixton can earn either a 51% or 65% interest by making cash and share payments and incurring $5 million and $10 million in exploration expenditures respectively. Kiska may elect to form a Joint Venture with Brixton at the 49/51 or 35/65 stage, or take dilution. Brixton shall be the operator in either case.
About Brixton Metals
Brixton is an 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. The Thorn Project is Brixton's flagship property and is centred on a network of silver-gold-copper -bearing vein corridors and the silver-gold-lead-zinc-bearing Oban breccia zones. The Thorn property is located in northwestern British Columbia, Canada and about 50 km from the past producing Golden Bear Mine and 130 km southeast from the village of Atlin, BC. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB and its warrants trade under the symbol BBB.WT.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, P.Geo, 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 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.
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