Brixton Metals (TSXV: BBB; US-OTC: BBBXF) has kicked off drilling at its Thorn copper-gold prospect in British Columbia.
Located in the growing Golden Triangle area of the province’s remote northwest, Thorn features a northwest-southeast trend of porphyry-style copper and gold mineralization, along with several epithermal vein systems. Recent highlights include 64 metres from surface at the Trapper Gold target at 5.7 grams gold per tonne, including 30 metres at 10 grams, and confirmed at least one copper porphyry, Brixton CEO Gary Thompson said in a video interview.
“We just found some brand-new porphyry-style mineralization at surface that’s never been drilled,” Thomson told The Northern Miner host Devan Murugan. He explained how the team uses a porphyry index model that tells them where they are in the system – high, low or lateral to a porphyry centre. “It’s been quite successful in ranking our targets.”
So convinced was BHP (NYSE, LSE, ASX: BHP) that Brixton had found a new mineral system it owned outright, that it invested $13.4 million (US$9.8 million) for a 19.9% stake in Brixton at 18¢ per share in late 2022, Thomson said.
To focus resources on Thorn, Brixton optioned out non-core assets, Thompson said. Ivanhoe Electric (TSX, NYSE: IE) has spent more than US$40 million on the Hog Heaven copper-gold project in Montana and paid Brixton US$4.5 million for a 75% earn-in. Eldorado Gold (TSX: ELD; NYSE: EGO) is funding a $5 million exploration spend on the Atlin Goldfields project, also in B.C.
Watch the full interview below:
