Brixton Metals and HPX Sign USD$44.5 Million Definitive Earn-In JV Agreement on the Hog Heaven Copper-Silver-Gold Project, Montana, USA
VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Brixton Metals Corporation (TSX: BBB, OTCQB: BBBXF) is pleased to announce the signing of a USD$44.5 million
definitive earn-in agreement dated February 26, 2021 (the “Earn-In Agreement”) with a wholly-owned Montana subsidiary of High Power Exploration Inc. (“HPX”), a
privately-owned mineral exploration and development company led by Chairman and CEO, Robert Friedland (see news release dated October 27, 2020). The Hog Heaven Project is a high sulphidation
epithermal silver-gold-copper-lead-zinc deposit with historical production located in the state of Montana.
Brixton Chairman and CEO Gary R. Thompson stated, “We are delighted to have concluded the deal terms with HPX and are excited to see the Hog Heaven Project receive significant exploration spending. In addition to the precious metal potential, we believe that Hog Heaven has the potential to host a significant copper discovery related to the high sulphidation precious metal system, and that the expertise and anticipated investment of HPX is likely to demonstrate that.”
HPX Principal Geologist, Graham Boyd, stated, “We see high potential for further discovery at Hog Heaven. We believe that the past producing Flathead Mine, where Anaconda Copper historically produced high-grade direct-shipping silver-gold ore, is just one part of a much larger precious metals and copper system. Our initial work programs at Hog Heaven starting in April-May 2021 will leverage our talented USA-based team of geoscientists and deploy the world-class Typhoon geophysical surveying technology to unlock new discoveries. We plan to follow this work up with a campaign of re-logging and sampling of the well-preserved historic drill core followed by diamond drilling to re-classify the historic mineral resources to NI43-101 compliant standards. In parallel, using the Typhoon IP system, we will search for additional sulphide-rich zones like those that have carried the high-grade precious metal values within this large volcanic-hosted epithermal system. Additional discoveries could significantly expand the historic precious metal resources. Further, the superior depth penetration of our Typhoon system will aid us in the search for the source porphyry copper and gold systems.“