January 13, 2023

Brixton Metals (CVE:BBB) Strikes Gold: CEO Announces Drill Results including 20m of 10.77 g/t

Midas Letter
Midas Letter
Brixton Metals (CVE:BBB) Strikes Gold: CEO Announces Drill Results including 20m of 10.77 g/t

Today, we sit down with Gary Thompson, CEO of Brixton Metals Corp (CVE:BBB, OTCMKTS:BBBXF, FRA:8BX1) to discuss the company’s recent press release of drilling 253m of 1.40 g/t Gold Including 93m of 3.22 g/t Gold Including 20m of 10.77 g/t Gold at its Trapper Target on the Thorn Project, the company’s other exciting exploration projects, and its major investment from BHP Group.

Brixton Metals is a gold and copper exploration company whose flagship project, Thorn, is located in northwest British Columbia, and is one of the largest and highest ranking pry copper gold anomalies in the province. With a new gold discovery and multimillion ounce potential, the future could look bright.

Tune in to hear more about their developments and plans for the future.

Company Bio:

Brixton Metals is a Canadian exploration company focused on advancing its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Atlin Goldfields Projects located in NW BC (now under Option to Pacific Bay Minerals (CVE:PBM), the Langis-HudBay silver-cobalt-nickel Project in Ontario, and the Hog Heaven copper-silver-gold Project in NW Montana, USA (under option to Ivanhoe Electric Inc. NYSEAMERICAN:IE).

Links & Resources:


00:00 Brixton Metals CEO Gary Thompson

00:53 Brixton Metals Overview

03:09 Recent Drill Results

04:59 More Drill results & new targets

08:01 BHP Investment

08:40 Major Investors


James West, Midas Letter CEO: Gary Thompson joins me now. He’s the CEO of Brixton Metals Corp, trading on the TSX Venture under the symbol BBB. Gary, welcome back.

Gary Thompson, Brixton Metals CEO: Hey, James. Good to be back. It’s been a while.

James West: It has been quite a number of years. It’s been a whole cannabis market and a crypto market since the last time we talked. But in that whole time, which I guess we’re talking 10 years at least, you’ve been busily exploring your property in northwestern BC. Just for the audience who might not have been following us for 10 years, give me an overview of what Brixton’s projects are all about, please.

Gary Thompson: Yeah, sure. Well, Brixton, the company trades on the TSX Venture, BBB as a ticker. We are a gold copper explorer. And if you had asked me that five years ago we had a pretty heavy silver waiting. And that company actually has four assets to a northwest BC, one in Montana that we recently farmed out to Ivanhoe Electric. And then we have a silver nickel cobalt project in the Cobalt Camp Ontario. But the real flagship for, for Brixton is a project called Thorn. It’s northwest British Columbia. It’s actually the closest town is actually Juno, Alaska. But we are in, in northwest BC, kind of the northern, if you look at everybody knows about the golden triangle. It’s a sort of northern geological trend of the, known golden triangle, but a very underexplored area. And I think what changed for us, really over the last, probably since about 2018 it was recognized that and this was based on a BC government geologist reprocessing of regional geochem data. This area lit up as one of the largest, highest ranking pry copper gold anomalies in the province of British Columbia. And interestingly, we were working in this area where the main area we’ve been working, we’re still working actively, but it was the area that, to the south of us that was lit up as this big anomaly and it was open ground for staking in 2018. So that really changed, I think the focus for us and the project. And it’s really morphed now. We’ve done three separate individual project deals with other companies to amass something like 2,900 square kilometer, 80 kilometer megatrend copper gold. It really is a district, a pry copper gold district because what we’re recognizing is not only one poy target, but multiple poor free targets in, and these things tend, they do tend to form in clusters. That’s kind of a summary of where we’re at.

James West: Sure. So the reason that I reached out to you for this conversation was because of the last couple of press releases. I mean, these are extraordinary results. I mean, you don’t see these very often. So 253 meters of 1.4 grams per ton gold January 9th, 304 meters of 1.19 grams per ton gold like that potentially speaks to a rather substantial deposit with pretty great, great continuity. How far apart are these two holes?

Gary Thompson: Well, it’s a cluster of holes. What we did is we drilled about 50 holes this year, over a strike of about 400 meters. So what we’re showing is good continuity over this 400 meters. And if you look back at our other releases from the summer and some of the results from last year, what we’re demonstrating is I think it’s a significant new gold discovery. And it looks like we have multimillion ounce potential here. It’s still relatively early because really this is our second season and we didn’t actually have this main project called Trapper. We didn’t have these claims until about 2020. So it’s been fairly recent addition to our big block. And yeah, it’s an, it’s a new discovery that, I mean, we’re, what we’re learning is that, I mean, we ended in mineralization down to about 400 meters from, from surface. So we’ve got this very interesting development happening. And it’s still wide open, so down to 400 meters almost 400 meters strike. And in op open in multiple directions. So I think next year is gonna be, well, actually 2023 this season will be will be an exciting one to see how far we can we can push that limits of that.

James West: Sure. And then another spectacular hole you announced January 4th, 709 meters at well up to 0.61% copper equivalent at the Camp Creek periphery target, which is different from this, this recent gold intercept. Is this, is this part of the same periphery system?

Gary Thompson: Yeah, and I guess the way I look at these is I see them as different clusters within it, you know, the, the Camp Creek periphery and the Trapper Gold Tire are about seven, eight kilometers apart. And it’s a big range because if you look at the geochem, we put out it’s 11 kilometer long gold copper anomaly. And, and Trapper represents about four kilometers of that 11 K anomaly. And Camp Creek is a, is also a new copper gold, silver molly pry discovery that we made a few years ago. And that’s interesting because it’s a deep target. We’re drilling a thousand to 1300 meter holes and we’re getting, you know, almost a thousand meters. I think our longest, longest interval was 9 67 or something of 0.4 copper equivalent. So it’s it’s an interesting target. And are they, are they similar? Well, I think there are, there’s similarities and there’s differences between the two. The, the trapper gold target the, I guess the similarities would be that they’re both related to a dite pori unit about the same age. So I think enough similarities to say, Hey, wait a minute, what’s going on here? And we also did some regional airborne geophysics with his electrical survey that actually has quite deep penetration and we’re, we’re seeing down to about two kilometers. We’ve got a very deep rooted conductor below this trapper target. And if you look at the slices from the geophysics that we have as you go deeper down to the system to about 800 meters, it looks like these things, at least from a geophysical perspective, it looks like they merged together to form a potential I don’t know, deeper pry unit. I, we’re not sure it’s, I mean, that’s so deep and there’s been so,little holes drilled between those two targets and you know, again, it’s 7, 8, 8 kilometers apart. Uso we’re, we’re, right now we’re treating them as separate targets. Uand, and they’re, they’re big enough in their own right, I think they could stand alone on, on their own. But,you know, it’s pretty exciting in the development. We, we’ve got two ex real exciting new targets. And what’s interesting about the project,like I said over the last, you know, four or five years, I guess, now that,we’ve identified 14 large scale targets, so we’re not just talking about a couple of targets here. Each one of these things is multi kilometers on their own right. And,we have many of them. So I guess we’re a little bit blessed and spoiled. Maybe we’ve got too many targets to deal with, with, ith <laugh>, you know, with the, with the budgets. And, you know, I’m happy to, happy to say that we are fully financed for, for 2023. And, and I don’t know if you caught that at the end of, ate last year, we announced a, trategic investment by the world’s largest diversified mine, B H P. Umhey, they took a 19.9% interest in, in Brixton. Umnd so they, they obviously see the potential for, for something big, t this project. And, you know, obviously they’re, arge copper, ickel producer. Uhe don’t see a ton of nickel. We do have a couple nickel sniffs here, but it’s, I’d say it’s really the really the copper potential that attracted, attracted BHP to, Brixton and the Thorn project.

James West: Right. Yeah, I didn’t see that press release. But that’s kind of like, that’s the inflection point for a company like Brixton where they go from self-financing, self-exploration, to the point where they’re, all of their good work is finally rewarded by that kind of a vote of confidence from a major industry player like bhp. So are there any other major investors at this point into Brixton, like bhp?

Gary Thompson: Well, if you just go down, I guess down the list, next largest shareholder. So BHP is 19.9 cresca capital is in that sort of 14, 15%. They’ve been very supportive in several financings. And yeah, I quite, quite like the, the opportunity as well. Eric’s brought still a large shareholder but Rob McEwen, I mean, heckle, minings are there from 2000 12 investment, they’re still holding. So we do have some good, good solid shareholders. And I do feel that we’ve, we’ve turned the corner. I mean, we’re, we’re in that sort of a hundred million market cap now, which was always sort of, seemed to be a you know, for a junior company, get to get over that. It certainly opening some doors for us as far as getting into new brokerage firms and houses and stuff like that. So I, I feel like we’ve turned a corner and kind of on a, on a different traject trajectory now. Right.

James West: Fantastic. All right, Gary, well we’re gonna leave it there for now. That’s a great update on the project. I really appreciate your time today, and we’ll come back to you and do course thanks for your time today. Well,

Gary Thompson: Thank you, James. Appreciate it. You

James West: Bet. Have a good day. Bye for now.


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