Resource World Magazine

m i n in g Brixton Metals keeps eyes on Oban prize by Simon Rees Like their peers across Canada, juniors operating in British Colombia have tightened their fiscal belts, adapted their exploration budgets and focused on their most promising zones. For Brixton Metals Corp. [BBB-TSXV], the emphasis has been the Oban Zone of its Thorn gold-silvercopper project, located 130 km southwest from the village of Atlin in the Sutlahine River area of north-west British Columbia. Over 2011, the company's exploratory progress was robust and achieved some notable results, including hole THN11-60 that intersected 628.30 grams per tonne (g/t) silver, 1.71 g/t gold, 0.12% copper, 3.31% lead and 2.39% zinc from 6-95.08 metres. "At the end of 2011, we drilled on the Oban Zone and where we're getting the most joy lately is following up on Hole 60, which was a great silver-gold discovery," Brixton Metals president and CEO Gary Thompson told Resource World. Phase II drilling, at Oban during 2012, continued to firm-up the zone's high-grade mineralization. One of the latest highlights includes hole THN12-84, which returned 190.68 g/t silver, 1.19 g/t gold, 0.06% copper, 1.74% lead and 3.25% zinc from 26-336 metres. The successes of the past two years are all the more noteworthy given that Brixton has only been involved with the Thorn Project since 2010. "I was the CEO of a company called Sierra Geothermal Power that was sold to Ram Power in 2010. Meanwhile, Cale Moodie was the CFO of Underworld Resources, a company that was undergoing a sale to Kinross also in that year. After our companies were sold, Cale and I teamed up to form Brixton. We raised some private money and then struck a deal with Kiska Metals, previously Rimfire Minerals, to earn-in on the Thorn Project. This was our lifting and qualifying transaction," Thompson said. Brixton was listed on the Toronto Venture Exchange in December 2010, with the ticker BBB, and initially held two properties. "We had another project [Kahilt], which is a large, early-stage project in Alaska. However, the company has since divested it," Thompson said. "We're entirely focussed on the Thorn Project." A major facet of the earn-in agreement requires Brixton to invest $5 million in exploration in the Thorn Project. At this level Kiska can elect to form a joint venture at 49-51% in Brixton's favour. "We're about $4 million into the project, maybe a little bit more," Thompson explained. "If Kiska elects not to form a joint venture at the 49-51% stage, then we can go up to 65% by spending an additional $10 million. Kiska would then have the option to elect for a joint venture at 35-65%, or they can step back again and allow Brixton to continue funding its way up." For future drilling, Brixton will centre its attention on Oban. "We're focussed on expanding the Oban Zone … We've got a strong high-grade system here, but it's still early days. Our short-term goal is to get enough drilling done on the Oban Zone and the rest of the property to secure a NI 43-101-compliant resource," Thompson said. "To date, there's been about 15,000 metres of drilling on the property and only 5,000 metres of this has been at Oban. If we can get another 10,000-20,000 metres Plane unloading at Brixton's Thorn gold-silvercopper project in north-west British Columbia. Photo courtesy of Brixton Metals Corp. 52 www.resourceworld.com february 2013

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