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Brixton Metals Corporation (TSXV:BBB) (the “Company” or “Brixton”) is pleased to announce that it has entered into an asset purchase and sale agreement to acquire a 100% interest in five mining claims for 2,740 hectares in the Atlin Camp of British Columbia.
Brixton Metals Corporation (TSXV:BBB) (the “Company” or “Brixton”) is pleased to announce that it has entered into an asset purchase and sale agreement to acquire a 100% interest in five mining claims for 2,740 hectares in the Atlin Camp of British Columbia. Brixton will acquire the properties by issuing the sellers an aggregate of 50,000 common shares and $10,000 in cash consideration (subject to acceptance by TSX Venture Exchange). The claims are subject to a 1% Net Smelter Return (“NSR”) where Brixton holds the right to purchase the NSR for $1M.
Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “We are excited to build upon our extensive land package as we consolidate mineral lands in the productive Atlin gold camp. We believe the camp has district-scale potential for intrusion related gold deposits and orogenic Barkerville style gold veins.”
About the Atlin Gold Project
The wholly-owned 586 square kilometer Atlin project is located in Northwest British Columbia east from the town of Atlin. The property is easily accessible by road and helicopter. The Atlin placer camp covers an area of 50km by 50km where placer gold is found in most of the drainages. Spruce Creek, within the Atlin gold camp, holds the provincial record for the largest gold nugget, weighing 2.6 kilograms or 85 ounces, BCGS Paper 2017-1, p.179-193, and arguably the largest in Canada. In 2017, Brixton sampled up to 293 g/t Au from vein material at the LD showing.
Brixton’s extensive land position covers both Surprise Lake batholith and favourable sedimentary rocks of the Cache Creek terrane. The Company’s plan is to conduct property scale exploration work to generate drill targets.
More information about Brixton’s Atlin Gold Project can be found at: www.brixtonmetals.com/properties/atlin-gold-project/
Mr. Sorin Posescu, P. Geo., is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed and approved this news release.
About Brixton Metals Corporation
Brixton Metals Corporation is a gold-silver exploration & developing company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada, have generated excellent results to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis and Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis and Hudson Bay mines produced at 25 and 123 opt silver, respectively. The Company is actively seeking JV partners to advance one or more of its projects.
Brixton Metals Corporation shares trade on the TSX-V under the 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
Tel: 604-630-9707 or email: info@brixtonmetals.com
For Investor Relations, please contact Mitchell Smith:
Tel: 604-630-9707 or email: mitchell.smith@brixtonmetals.com
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.
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 completion of the acquisition, the anticipated closing of the acquisition, TSXV approval, and the exploration potential of the property based on resources estimates and 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 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.
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Source: www.thenewswire.com
