As gold-focused investors are well aware, there are so many companies hoping to produce the yellow metal that it can be difficult to separate the wheat from the chaff.
One company that seems worth keeping an eye on is Brixton Metals (TSXV:BBB). It’s focused on advancing the high-grade gold and silver prospects at its British Columbia-based Thorn project towards feasibility, and is having no shortage of success. Indeed, at the end of last year, Visual Capitalist ranked Thorn as having the most potential “to become a quality future resource” in a survey of 57 exploration companies in the province.
A quick look at Brixton’s website shows what makes Thorn so promising. The 28,000-hectare property covers a district-scale area and includes sediment-hosted gold in the Outlaw zone, porphyry-related diatreme breccia in the Oban zone and high sulfidation veins in the Talisker and Glenfiddich zones. Even more impressive is the fact that Thorn shares “many similarities” to world-class deposits like Mexico’s Penasquito and Chile-based El Indio.
Gary Thompson, chairman and CEO of Brixton, told Gold Investing News last month that to unlock Thorn’s potential, the company has been drilling at its Glenfiddich and Outlaw zones. Recently, results from that work were announced, with Brixton stating last week that it has completed 464 meters in four holes at Glenfiddich and 823 meters in four holes at Outlaw. According to the company, highlights include the discovery of a new sediment-hosted gold zone at Outlaw — hole 128 returned 59.65 meters of 1.15 g/t gold and 5.64 g/t silver from 76 meters depth. That includes 9 meters of 3.08 g/t gold and 10.77 g/t silver.
Commenting on the news, Thompson said, “[t]he recent drilling at Thorn adds a fourth zone and perhaps its most significant gold zone on the property to date. Silver-gold diatreme breccia (Oban Zone), veins (Talisker-Glenfiddich zones) and intrusion related sediment hosted gold (Outlaw) zones now exist at the Thorn property.”
The summer is certainly treating Brixton well, and according to Thompson, more action isn’t far off. He said in last week’s press release, “Brixton represents a very attractive exploration upside opportunity. As a previously stated in the Company’s News Release May 8, 2014, Brixton has engaged SRK Consulting to provide an independent inferred resource estimate for its Oban, Talisker and Glenfiddich zones, which is due 2014.”
Shares of Brixton were selling for $0.285 each at close of day Friday.
Got drill pictures?
Is your company hard at work on a project? If so, we’d like to see it. Send pictures of your summer (or latest) drill program to firstname.lastname@example.org.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
|Otis Gold Corp. (TSXV:OOO) is a near-term producer with an NI 43-101 resource 520,000 ounces of drill-indicated gold at its Kilgore Project in Idaho. Work is scheduled to begin soon at the North Target area of the Kilgore Gold Project. Connect with Otis Gold Corp and never miss a catalyst.|