Brixton Metals Drills 6.00m of 5.07 g/t Gold within 66.00m of 0.80 g/t Gold at its Trapper Target on the Thorn Project

VANCOUVER, British Columbia, Oct. 16, 2023 (GLOBE NEWSWIRE) — Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the first batch of 2023 drill results from the Trapper Gold Target at its wholly owned Thorn Project. The project is located in Northwest British Columbia, 90km east of Juneau, Alaska and within the Taku River Tlingit and Tahltan First Nation’s traditional territory.

Highlights

• Drilling extended the Trapper gold mineralization 250m down-dip along the Lawless fault
• Hole THN23-270 yielded 98.00m of 0.62 g/t Au from 98.0m depth
  • Including 66.00m of 0.80 g/t Au
  • Including 32.00m of 1.15 g/t Au
  • Including 6.00m of 5.07 g/t Au

• Hole THN23-268 yielded 55.71m of 0.82 g/t Au from 152.29m depth
  • Including 24.31m of 0.93 g/t Au
  • Including 7.00m of 2.67 g/t Au

Vice President of Exploration, Christina Anstey, stated, “We are highly encouraged by the gold intercepts we’ve observed in the broad step out holes drilled at the Trapper Gold Target to date. We look forward to reporting on the additional results from the Trapper Target from the 2023 season.”

Figure 1. Gold Geochemistry and Trapper Target Location Map.

Table 1. Select Mineralized Intervals for the Trapper Target Drilling.

All assay values are uncut weighted averages and intervals reflect drilled lengths as further drilling is required to determine the true widths of the mineralization.

Discussion

The 2023 program at the Trapper Gold Target totaled 6,625.24m of drilling. This News Release covers 3,027m of drilling for a total of 12 drill holes with assays pending for the remaining 11 drill holes, which will be released as they become available.

Figure 2. Simplified Geology Map with Collar Locations and Drill Traces at the Trapper Target.

Gold mineralization at Trapper is structurally controlled along the Lawless fault trending northwest-southeast and dipping moderately to the north. Mineralization appears to favour the contact between the Cretaceous (85.2 +/- 1.2Ma) quartz diorite and the Triassic lapilli tuffs with broad gold intervals largely hosted along the faulted contact. The gold is associated with silver and base metal veins containing pyrite-galena-sphalerite +/- chalcopyrite +/- bornite which occur conjugate to the Lawless fault. Through a combination of oriented core drilling, surface mapping, geochemistry and geophysics, the aim is to achieve predictability of the gold-bearing zones. The current drilling at the Trapper Target is located 7km southeast from the Camp Creek Copper Porphyry Target. At surface, the Trapper Target is expressed as a 4km northwest trending gold and zinc soil geochemical anomaly which is part of the larger 11km gold geochemical anomaly trending from Camp Creek to the Trapper Target.

The 2023 drill campaign at Trapper was designed to test the extents of the main mineralized corridor along the Lawless fault zone, as well as testing step-out targets where similar structural and geophysical features were interpreted using the high-resolution aeromagnetic survey completed in 2022. Drilling was planned through a combination of mapping, oriented core data analysis, geophysics, and soil geochemistry. Results from the 2023 drill program continue to demonstrate the potential for broad intercepts of near surface gold mineralization which remains open in several directions.

Figure 3. 3D Conceptual Deposit Model of the Trapper Gold Target, Northwest View.

Drill holes THN23-268, THN23-269 and THN23-270 were collared from the same drill pad, 40m southwest of THN22-237 (304.46m of 1.19 g/t Au including 14.0m of 10.70 g/t Au) to test the southern extents of mineralization along the diorite-lapilli tuff contact. THN23-270 collared into quartz diorite and at a downhole depth of 58.5m intervals of base metal sulphide veins containing visible gold (Figures 4) were observed resulting in significant broad intercepts of gold mineralization. THN23-270 drilled to a depth of 235.00m, assaying 208.00m of 0.37 g/t Au from 18.00m depth including 98.00m of 0.62 g/t Au, including 66.00m of 0.80 g/t Au, including 32.00m of 1.15 g/t Au, including 11.00m of 3.01 g/t Au, and including 6.00m of 5.07 g/t Au.

THN23-268 was drilled to a depth of 292m and planned to test the east-west trending mineralized veins observed in 2022 drilling. One instance of visible gold was observed at 176.45m within a base metal bearing vein hosted in the lapilli tuff. This hole intercepted 244.00m of 0.35 g/t Au, including 75.00m of 0.65 g/t Au, including 55.71m of 0.82 g/t Au, including 24.31m of 0.93 g/t Au, and including 7.00m of 2.67 g/t Au. THN23-269 was drilled below hole 268 to a depth of 205.00m and was planned to test the southern extents of mineralization along the Lawless fault. The hole crossed the fault at 12.69m and no significant mineralization was observed in the footwall.

Figure 4. Visible Gold Photographs of HQ Core from Hole THN23-270.

THN23-264, THN23-265 and THN23-266 were drilled approximately 500 meters east of the main Trapper Target area and were planned to test high grade gold veins observed on surface along Inlaw Creek. Narrow intervals of high-grade veins were observed in holes 264 and 265 and additional drilling is required to further define the extents of mineralization in this area.

THN23-267 was collared 60.00m northwest of THN22-205 (64.00m of 5.74 g/t Au including 28.95m of 10.36 g/t Au) to test the western extent of the main mineralized trend. Due to surface ground conditions the hole was collared north of the main fault and drilled to a depth of 297.00m. Hole 267 is interpreted to be on the shoulder of the main gold zone and intercepted broad intervals of low-grade gold with elevated silver grades, including 11.41m of 0.70 g/t gold and 21.74 g/t silver.

Figure 5. Gold Surface Geochemistry Map with Collar Locations and Drill Traces at the Trapper Target.

THN23-278 was planned as an 85m step out from the previously drilled holes along the Lawless fault. This hole was to a total depth of 592.00m and is the deepest drill hole to date in the main Trapper Target. Although the upper part of this hole was relatively unmineralized, base metal veining was intercepted at 400m depth extending the mineralized zone approximately 250m down dip and towards the north along the Lawless fault.

THN23-272, THN23-273 and THN23-274 were a 450m western step out from the main Trapper Target area and planned to test along an interpreted structure that was identified in the 2022 aeromagnetic survey. These holes drilled down dip of a large unmineralized fault and it is now believed the mineralized fault trends further north.

Table 2. Additional Select Reported Mineralized Intervals for the Trapper Target Drilling.

All assay values are uncut weighted averages and intervals reflect drilled lengths as further drilling is required to determine the true widths of the mineralization.

Drilling Information

Table 3. Drill Collar and Hole Information of Current News Release.

About the Trapper Gold Target

The geochemical footprint for the Trapper Gold Target was expanded in 2021 to 4km by 1.5km with a gold-in-soil geochemical signature that has a strong positive correlation to zinc and lead. The Trapper Target represents an intermediate-sulphidation epithermal system hosted in volcanic and intrusive rocks. The volcanics are Triassic Stuhini lapilli tuff, while the intrusive phase is a Cretaceous quartz diorite dated at 85.2Ma +- 1.2Ma. Visible gold has been identified in both drill core and surface outcrops across the Trapper Target area and rock grab samples have returned up to 152 g/t Au. Visible gold is recognized in several environments: within base metal veins (sphalerite-galena-pyrite-chalcopyrite), quartz-stockwork, sulphosalt-pyrite veinlets, and rarely disseminated gold in the diorite. In 2021 and 2022, Brixton drilled 3,107m and 9,119m respectively. In 2011, forty-two drill holes were completed by a previous operator. The Trapper Target is royalty free.

Quality Assurance & Quality Control

Quality assurance and quality control protocols for drill core sampling was developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Langley, British Columbia. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.

About the Thorn Project

The wholly-owned 2,881 square kilometer Thorn Project is located in British Columbia, Canada, approximately 90 km east of Juneau, AK. The southern limit of the Thorn claim boundary is roughly 50 km from tide water. The Thorn Project hosts a district-scale 80km megatrend of Triassic to Eocene, volcano-plutonic complex with several styles of mineralization related to porphyry and epithermal environments. Fourteen large-scale copper-gold targets have been identified for further exploration work. Information on each of the targets may be found at the following link: https://brixtonmetals.com/thorn-gold-copper-silver-project/

Qualified Person

Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the company and a qualified person as defined by National Instrument 43-101. Mr. James has verified the data disclosed in this press release, including the sampling, ‎analytical and test data underlying the technical information and has approved this press release.

About Brixton Metals Corporation

Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects toward feasibility. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Project located in NW BC, the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven copper-silver-gold Project in NW Montana, USA (under option to Ivanhoe Electric Inc.). Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB 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
Tel: 604-630-9707 or email: [email protected]

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 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.

Photos accompanying this announcement are available at
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