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Brixton Metals to Acquire the Metla Property Expanding its Thorn Project
VANCOUVER, British Columbia, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (the "Company") (TSXV: BBB) (OTCQB: BBBXF) is pleased to announce that
About this update from Brixton Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (the \"Company\") (TSXV: BBB) (OTCQB: BBBXF) is pleased to announce that it has entered into a purchase agreement to acquire a 100% interest in the Metla mineral claim group of 6,413 hectares from Stuhini Exploration Ltd., TSXV:STU (“Stuhini”) for consideration of 1,200,000 common shares of Brixton and CAD $42,000 in cash (subject to the acceptance of the TSX Venture Exchange). The Metla claims will be subject to a 1.0% net smelter royalty interest in favour of Stuhini. Chairman and CEO of Brixton Metals, Gary R. Thompson stated, “We are happy to have reached an agreement with Stuhini on this high mineral potential tenure as we continue to consolidate the Thorn project and transform it into a major 70 km mineralized trend. These Metla claims add an additional 7 km to this major mineralized trend. As a result of retreating glaciers, Stuhini geologists discovered new well mineralized porphyry float rocks. These samples shown below, represent the center of a porphyry system by the potassic alteration and bornite mineralization. We believe that the source of these rock samples is nearby. The hunt is now on to locate the in situ material, through soil-rock geochemistry, radiometrics and mobile MT geophysical surveys. The Metla ground provides an exciting new target area within the Thorn Project.” Figure 1. Thorn and Metla Mineral Claim Map: About the Metla Project Gold mineralization was first discovered on the Metla property in 1957. Follow up work in 1988 identified a 1200 metre long by 800 metre wide mineralized boulder train with disseminated to massive sulphide that assayed up to 67 grams per tonne gold. In 1989, trenching by Cominco Ltd. (“Cominco”) returned 4.6 g/t Au across 9 meters. Retreating glaciers have exposed land up-ice from early discoveries by Cominco prospectors. In 2019, Stuhini geologists discovered porphyry style boulders with bornite and chalcocite mineralization with potassic alteration returning grades up to 4.7% Copper and 1.8 g/t Au, 31g/t Ag, 0.3 g/t Pd from sample# ALW19-004, see Figures below. Figure 2. Metla Magnetics and Gold-Copper Rock Geochemcal Results: Figure 3. Stuhini Rock Float Sample ALW19-004 of Foliated Diorite Porphyry with Bornite-Chalcocite returning 4.7% Cu, 1.8 g/t Au, 31 g/t...