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Brixton Metals Corporation (TSX-V: BBB, OTCQX: BBBXF) (the "Company" or "Brixton") announces that drilling has begun at its Atlin Goldfields Project, located in Northwest British Columbia. Eldorado Gold Corporation ("Eldorado") has a path to one hundred percent ownership as per the Earn-in Option Agreement in the Company's News Release dated July 16, 2024, at the following link: Option Agreement
Following a property-wide assessment utilizing geological, geophysical and geochemical datasets created and expanded between 2024-2026, Brixton will complete initial drill testing of newly identified, structurally-focused targets in the Yellowjacket area. The drill targets are outside of previously drill-tested areas on Pine Creek, leveraging a new geological model for controls on mineralization. The current drill plan is for approximately 6-10 drillholes for a total of 2500m-3000m.
Chairman and CEO, Mr. Gary R. Thompson stated, "It's great to see the Atlin Goldfields Project receiving some drilling attention. We are looking forward to the results from this initial drill program. While the goldfields of Atlin have been producing placer gold since 1898, very limited hard rock exploration have been conducted within this mining camp."
About the Atlin Goldfields Project
The Atlin Goldfields Project is road accessible near the town of Atlin, BC and approximately a 2-hour drive from Whitehorse, Yukon. Since 2016, and over a 3-year period, Brixton consolidated a 579 square kilometer claim group with a focus on locating the hard rock source of the wide-spread placer gold. The Atlin Goldfields Project covers several orogenic and intrusion-related gold targets. The Atlin gold camp has been producing gold for 125 years and is the second largest placer gold producer in British Columbia with a reported 600,000 ounces of gold produced between 1898 and 1945. An estimated additional 400,000 ounces of gold have been produced since the record keeping ceased in 1946 (Ash 2001). The two major placer producing creeks (Pine and Spruce) and many of the other productive creeks are located within the Atlin Goldfields Project. The Atlin gold camp holds the provincial record for the largest gold nugget, which weighed 2.6 kg (85 ounce) and was discovered on Spruce Creek (BCGS Paper 2017-1, p.179-193).
Rock samples of coarse-grained quartz veins have returned values of up to 293 g/t and 518 g/t gold from the LD Showing and 53.60 g/t gold and 45 g/t gold from the Union Mountain Showing. Historical diamond drilling at the Yellowjacket Target has returned up to 509.96 g/t gold over 5.57m. Brixton's drilling in 2023 returned 35m of 0.77 g/t gold including 19m of 1.34 g/t gold including 0.45m of 38.10 g/t gold at the Yellowjacket Target. In 2019, Brixton drilled 8.53 g/t gold over 2.00m at the LD showing.
Qualified Person (QP)
Gary R. Thompson, P.Geo., is a Senior Geologist, President, Chairman, CEO and Director for the Company who is a qualified person as defined by National Instrument 43-101. Mr. Thompson has verified the referenced data disclosed in this press release and has approved the technical information presented herein.
About Brixton Metals Corporation
Brixton Metals is an exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton's flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver Project in Ontario and the Atlin Goldfields Project located in northwest BC which is optioned to Eldorado. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQX under the ticker symbol BBBXF. 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
For Investor Relations inquiries, please contact: Mr. Michael Rapsch, VP Investor Relations. email: michael.rapsch@brixtonmetals.com or call: 604-630-9707
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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, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. 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 TSXV 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.
