CEO.CA Chairman's Briefing

VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce the first batch of 2024 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.

Highlights

• Nine visible gold occurrences observed across three drill holes
  
  
• Hole THN24-300 yielded 254.00m of 0.48 g/t Au from 6.00m depth
  • Including 171.00m of 0.63 g/t Au
  • Including 41.00m of 1.08 g/t Au
  • Including 6.00m of 4.19 g/t Au, 22.07 g/t Ag

• Hole THN24-302 yielded 141.00 of 0.35 g/t Au from 9.00m depth
  • Including 30.00m of 0.70 g/t Au
  • Including 10.00m of 0.92 g/t Au
    
    
• Hole THN24-303 yielded 216.76 of 0.25 g/t Au from 154.00m depth
  • Including 23.00m of 1.24 g/t Au
  • Including 11.00m of 2.34 g/t Au
  • Including 3.90m of 5.58 g/t Au

Vice President of Exploration, Christina Anstey, stated, "These latest results from the Trapper Gold Target continue to demonstrate the potential for significant gold mineralization. The results from hole THN24-303 present new opportunities for step-out drilling north of the main target area and we look forward to expanding on these encouraging findings.”

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 2024 drill campaign at the Trapper Gold Target totaled 2,745.60m of drilling across 11 HQ-sized diamond drill holes of which three drill holes totaling 967.00m are covered in this release. The program was designed to test the extents and continuity of the main mineralized corridor along the Lawless Fault zone through a combination of infill and step-out drilling. Additional step-out drilling was completed north of the main zone, following-up on undercover mineralized zones that were identified during the 2023 drill program. Drilling was planned through a combination of mapping, oriented core data analysis, geophysics, and soil geochemistry. Additional assays from the 2024 drill campaign will be released as they become available.

Figure 2. Airborne Magnetics Map with Collar Locations and Drill Traces at the Trapper Target.

THN24-300 was drilled at an azimuth of 3 degrees and dip of -50 degrees to a final depth of 260m. Hole 300 was planned as an infill hole to test gold grade continuity between a series of previously released holes. Hole 300 successfully intercepted broad intervals of gold bearing mineralization assaying 254.00m of 0.48 g/t Au and 1.91 g/t Ag from 6.00m depth, including 41.00m of 1.08 g/t Au and 5.36 g/t Ag, and including 6.00 m of 4.19 g/t Au and 22.07 g/t Ag.

THN24-302 was drilled from the same pad location as hole 300 testing at a steeper inclination above the Lawless Fault between previous high-grade intercepts and was drilled at an azimuth of 339.60 degrees with a dip of -70.40 degrees to a final depth of 185m. Hole 302 intercepted broad intervals from surface assaying 141.00m of 0.35 g/t Au and 1.37 g/t Ag, including 30.0m of 0.70 g/t Au and 1.96 g/t Ag, and including 10.00m of 0.92 g/t Au and 1.98 g/t Ag.

THN24-303 was collared 450m northwest of holes 300 and 302 and was drilled at azimuth 47.60 degrees with a dip of -61.30 degrees to a final depth of 522m. Hole 303 was planned to target gold mineralization at depth that was previously observed in hole THN23-278 during the 2023 drill program. The hole was successful in identifying discrete gold bearing intervals, one at 195m depth around the contact between the Cretaceous quartz diorite and Stuhini Group volcanics and another around 347m within pre to syn-mineral intermediate dykes that crosscut the volcanic stratigraphy in the area. The interval around the 195m contact returned 18.85 g/t Au and 5.24 g/t Ag over 1.00m and where it remains open in multiple directions.

Gold mineralization at Trapper is structurally controlled along the Lawless Fault, trending northwest-southeast and dipping moderately to the north in the main drilling area. However, evident by the magnetics image in Figure 2 there are multiple CVG features that could reflect similar parallel structures to the Lawless Fault which remain open to test for new gold potential. 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. Future drilling at the Trapper Target will focus on identifying new zones of gold-bearing mineralization undercover within the footprint of this larger gold geochemical anomaly.

Figure 3. Visible Gold Photographs of 2024 Trapper HQ Core

Drilling Information

Table 2. 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, 2022 and 2023 Brixton drilled 3,107m, 9,119m and 6,625m 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 2,945 square kilometer Thorn Project is located in British Columbia, Canada, approximately 90km east of Juneau, AK. The southern limit of the Thorn claim boundary is roughly 50km 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. Many 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. 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-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC which is optioned to Eldorado Gold Corporation. 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

For Investor Relations inquiries please contact: Mr. Michael Rapsch, Senior Manager, Investor Relations. email: michael.rapsch@brixtonmetals.com or call Tel: 604-630-9707

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.

Links:

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https://brixtonmetals.com/wp-content/uploads/2024/10/Figure-2.-Plan-Map_MagCVG.png

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Figure 1

Gold Geochemistry and Trapper Target Location Map

Figure 2

Airborne Magnetics Map with Collar Locations and Drill Traces at the Trapper Target

Figure 3

Visible Gold Photographs of 2024 Trapper HQ Core