Reviewed by Lexie CornerFeb 26 2024
Brixton Metals Corporation is delighted to share further findings from the continuous exploration efforts on the Hog Heaven Project, managed by Ivanhoe Electric Inc., through a definitive Earn-in Agreement.
Situated 50 miles southwest of Kalispell, in Montana, USA, Hog Heaven is an advanced-stage, high-sulfidation, epithermal copper-silver-gold project with a history of production and potential for copper porphyry.
Highlights
- Hog Heaven step-out drilling reaches 150 m west of the closest drilling in terms of mineralization.
- Plans for future drilling at Hog Heaven will be guided by the findings of the TyphoonTM geophysical survey.
- About 150 m to the southwest of the closest hole (HHD-010), or 157 m of high sulfidation epithermal mineralization, were intersected by HHD-012.
- This intercept shows that the Hog Heaven epithermal system has expansion potential to the west of the Flathead Mine because it is of a comparable grade and quality to that observed in previously reported holes.
- HHD-012 came into contact with 156.88 m of 0.34 g/t Au, 18.77 g/t Ag, 0.09 % Cu, 0.24 % Pb, 0.22 % Zn (from 282.12 m) or 156.88m of 0.85 g/t AuEq
- Comprising 49.92 m of 0.40 g/t Au, 29.51 g/t Ag, 0.11 % Cu, 0.40 % Pb, 0.2 2 % Zn (from 282.12 m) or 49.92 m of 1.22 g/t AuEq
With the help of drill hole HHD-012, a sizable new opportunity has been successfully opened up, offering the possibility of more shallow high sulfur epithermal mineralization as well as the porphyry source underneath. The mineralization that HHD-012 intersects is still available to depth and in several directions.
Ivanhoe Electric’s TyphoonTM geophysical survey identifies a strong conductor of about one square mile in size in the south-central area of the project, where limited drilling has been conducted. We look forward to the next batch of drill results from the ongoing program at the Hog Heaven Project.
Gary R. Thompson, Chairman and CEO, Ivanhoe Electric Inc.
About the Hog Heaven Cu-Ag-Au Project – Montana, USA
Ivanhoe Electric has now finished twelve drill holes totaling 10,905 m as part of their ongoing exploration drill program at Hog Heaven. Drilling for exploration has extended to the southwest and west, where mineralization is still accessible.
As long as the weather permits, the site's lone diamond drill rig will continue to work throughout the winter. Ivanhoe Electric carried out its own TyphoonTM geophysical survey in November 2023, covering an area of about 10 km2 and intended to cover the center of known prospectivity.
In 2021, Ivanhoe Electric and Brixton signed an earn-in contract. Ivanhoe Electric may acquire up to a 75 % stake in the Hog Heaven Project under the terms of the earn-in agreement by making cash payments totaling USD$4.5 million and paying exploration costs totaling USD$40 million by 2032.
After paying USD$4.5 million in cash and expending USD$15 million in exploration costs, Ivanhoe Electric will obtain an initial 51 % stake. Ivanhoe Electric would need to invest an extra USD 25 million to obtain the remaining 24 % of the project.
In 2017, Brixton bought the Hog Heaven project from Pan American Silver and carried out geophysical, geological, and soil geochemical surveys, as well as data digitization, compilation, and 3D modeling.
Brixton completed seven confirmation core drills at the Main Mine location in 2020. The following sub-intervals are included in the highlights of drill hole HH20-02, which intersected a broad 224.85 m zone of mineralization yielding 78.16 g/t Ag, 0.66 g/t Au, and 0.24 % Cu (75.07 m-299.92 m):
- 5.48 m of 445.79 g/t Ag, 1.41 g/t Au, 1.50 % Cu
- 2.13 m 0f 917.36 g/t Ag, 2.00 g/t Au, 3.06 % Cu
- 53.49 m of 165.90 g/t Ag, 1.28 g/t Au, 0.55 % Cu
- 13.56 m of 185.80 g/t Ag, 2.24 g/t Au, 0.76 % Cu
- 1.37 m of 1,750 g/t Ag, 5.39 g/t Au, 2.65 % Cu
Previously, 722 holes were drilled across the Main Mine and Ole Hill Targets, most of which were at shallow depths. The shallow oxide gold-silver mineralization provided the basis for a feasibility study and mine permit that were obtained in 1989, but development has yet to materialize.
The West Flathead Mine recorded silver values from fumaroles and fractures ranging from 300 ounces to 3000 ounces per ton in a few selected subterranean workings.
The Hog Heaven copper-gold-silver project is a sophisticated exploration project that has historically yielded high-grade copper, gold, and silver. From 0.23 Mt of direct-ship ore, grading 29 % Ag, Anaconda Copper Mining and lessees produced 6.7 Moz Ag, 3,000 oz Au, 23 M pounds Pb, and 0.6 M lbs Cu between 1913 and 1975.