Brixton Metals: Friedlands Ivanhoe Electric presents encouraging results from Hog Heaven
US$40 million have to be invested by Ivanhoe Electric (NYSE American: IE), led by mining legend Robert Friedman among others, and a total of US$4.5 million be paid to Canadian explorer Brixton Metals (WKN A114WV / TSXV BBB) to secure up to a 75% interest in the Hog Heaven project in Montana. Drilling at the epithermal copper-silver-gold project with high sulfidation grade and large porphyry copper potential, as well as historic production, had started in June. Now Ivanhoe Electric presented the first, promising drill results.
Namely, Ivanhoe Electric reported 311 meters of 1.07 g/t gold equivalent (22.89 g/t silver, 0.35 g/t gold, 0.06% copper, 0.55% zinc and 0.36% lead) from Brixton’s project. Interestingly, the last eight meters of the hole – from 901 meters down – assayed a high 1.32% copper as well as 23.38 g/t silver and 0.34 g/t gold.
The objective of the 2023 drill program was to search for potential extensions to the known silver, gold and copper-bearing epithermal mineralization, as well as to search for a potential porphyry copper source for the epithermal system. And it is now reported that the latest data obtained from this drilling, among others, indicate that the aforementioned epithermal mineralization with a high degree of sulfidation is fed by a deeper-lying copper porphyry source. The target come one step closer.
Encouraging evidence of copper porphyry at depth
Christina Anstey, Brixton’s VP Exploration, explained, “The fact that drilling intersected increasing copper content of mineralization at depth, Cu-Mo stockwork, cross-cuts and mineralized breccia fragments are all very encouraging indications of the presence of a copper porphyry at depth.”
Ivanhoe Electric has now, in late September, initiated an induced polarization and electromagnetic ground geophysical survey using the company’s Typhoon™ electrical geophysical transmitter system. The objective is to identify additional areas that host precious and/or non-ferrous metals as well as semi-massive and massive epithermal sulfide mineralization at depth.
All in all, good news for Brixton, too CEO Gary Thompson explains. He will be pleased to see how the Hog Heaven project will progress further, says the Brixton boss.
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