Aug 28 2019
Brixton Metals Corporation reported that it has started phase two exploration program at its Thorn Project situated in Northwest British Columbia comprising about 7,000 to 10,000 m of HQ and NQ size core drilling with two drills on two distinct porphyry targets within the Chivas zone and the Camp Creek Copper Corridor.
Brixon’s Updated Claim Block. (Image credit: Brixton Metals Corporation)
The company will also carry out about 25 line kilometers Titan DCIP and MT geophysical survey at the Camp Creek Corridor with an aim to image a target depth of 1.0 to 1.5 km.
We look forward to unlocking the mountain of value at the Thorn Project.
Gary R. Thompson, Chairman and CEO, Brixton Metals Corporation
The company staked an extra 862 km2 of mineral claims for a new total mineral claim area of 1,858 km2 of 100% owned tenure.
Update on the Atlin Goldfields Project
Between May 2019 and July 2019, Brixton Metals concluded a drilling program at the Pictou and LD Zones, rock sampling and prospecting.
Summary of work completed:
- 22 shallow NQ-sized core holes were concluded for a total of 1,618 m with four holes at the Pictou showing area and 18 at the LD showing area
- 1,965 line-kilometers of helicopter-borne magnetic geophysical survey
- Construction on a new 35-person exploration camp situated at the Yellowjacket Mine
- In total, 139 rock samples and 1,395 soil samples were gathered
The results will be publicized as and when available. Crews have been shifted to the Thorn Project.
Mr Sorin Posescu, P.Geo, Vice President Exploration for Brixton Metals and a Qualified Person as stipulated under National Instrument 43-101 standards, has reviewed and approved the technical information in this press release.
Corporate Update
Brixton Metals also declared the grant of incentive stock options to its directors, officers, consultants, and employees for an aggregate amount of 4,300,000 (the “Options”). The Options are exercisable at $0.30 per share for a duration of 10 years and are conditional on provisions of the company’s stock option plan as approved by its shareholders and the Annual General Meeting.
The Stock Option grant was approved by members of the Compensation Committee and Board of Directors to:
1) Reward long-serving members of the Brixton team for the latest discoveries at the Thorn Project, which the company has owned for nine years.
2) Retain the essential talent that will be required to progress the company’s exploration projects. With the rise in gold prices, the Compensation Committee and Board of Directors believe there seems to be a tightening in the mining labor market and wanted to make sure the company has the essential skilled personnel to progress the project in a professional and accountable manner.
3) Brixton Metals granted options to individuals that will have an immediate impact on the potential advancement of new discoveries. Every person who got options will be directly involved in the potential growth and de-risking of Brixton’s assets. The decisions of these persons will have a direct impact on the value of each shareholders’ investment.