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Brixton Metals Receives Second Cash Payment from Ivanhoe Electric for the Hog Heaven Copper-Silver-Gold Project Earn-In
VANCOUVER, British Columbia, March 03, 2022 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to
About this update from Brixton Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, March 03, 2022 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce that it has received the second payment in the amount of USD$500,000 for the Hog Heaven Project which is currently being operated under a definitive earn-in JV Agreement with Ivanhoe Electric Inc. (see news release dated March 2nd, 2021). Ivanhoe Electric holds the option to acquire up to 75% interest through a USD$44.5 million spend. Hog Heaven is an advanced stage high sulphidation epithermal copper-silver-gold project with porphyry potential and historical production located in the state of Montana, USA. Robert Friedland stated, “We are looking forward to further understanding the mineral potential of this high-grade district in our pursuit of critical metals to support the electrification of everything.” On April 30, 2021, High Power Exploration Inc. (“HPX”), transferred its rights and assets, including assigning the Hog Heaven Earn-In Agreement, to its affiliate company, Ivanhoe Electric Inc. under a contribution agreement. A 2022 drill program will target both extensions to known mineralization and new target concepts from the results of the recent geophysical and geochemical surveys Initial drill sites have been permitted and bonded with Montana DEQ Approximately 14,500m of drill core was re-logged to update the geologic model Surface rock chip sampling at the Flathead Mine to confirm metal distribution and grades Approximately 2,600 pulp samples were assayed from historic drill holes at the Flathead and Ole Hill Mines as most of the historic work did not assay for copper A three-dimensional IP survey was completed over the Hog Heaven Project area in the summer of 2021 to further assess target potential and to generate new drill targets A detailed ground gravity survey covering the Hog Heaven project area was completed in September of 2021 Click here for Figure 1. The Hog Heaven Cu-Ag-Au Project Location Map: https://brixtonmetals.com/wp-content/uploads/2022/03/Figure-3_HH_1Mar2022.jpg Chairman and CEO, Gary R. Thompson, stated, “We are excited to be partnered with Ivanhoe Electric to advance the Hog Heaven Project. Historically, most of the previous operators focused on the shallow high-grade silver and gold oxide mineralization. Some of the old un...