Potential for new copper discoveries this season
Brixton Metals (TSX-V BBB / WKN A114WV) had already announced in the Goldinvest.de interview at the world’s largest mining conference, PDAC 2024, that the company would be focusing primarily on the large Camp Creek copper porphyry target this year. And now it’s getting started, as Brixton reports that it has officially opened the exploration camp on the huge Thorn project.
In any case, one of Brixton’s competitive advantage is being fully funded for its 2024 exploration season – at the PDAC, CEO Gary Thompson spoke of 19 million dollars of cash and receivables on the balance sheet – to test further new porphyry targets on Thorn this year with drilling in addition to Camp Creek. The focus is on the Trifecta, Cirque and North copper targets. Which means that this drilling season could bring Brixton one or even several new discoveries!
Up to 17,000 meters of drilling planned
In any case, it will be an extensive exploration program consisting not only of 12,000 to 17,000 meters of drilling spread over the various target areas, but also the collection of 2,500 rock and soil samples as well as a geophysical survey. The latter is to cover an area of around 90 square kilometers, which once again highlights the dimensions of the Thorn project and the task facing Brixton!
According to the company, drilling has already begun at Camp Creek to search for the higher-grade core of the copper porphyry. Therefore, the first hole is being drilled at the same location as last year’s hole THN23-277, where the copper abundance in the form of chalcopyrite and the density of quartz veins in the hole increase with depth. The last 84 meters of hole 277 – 957 to 1,041 meters – returned 0.25% copper, 0.09 g/t gold, 3.78 g/t silver and 142 g/t molybdenum. From 1,032.88 meters, Brixton returned 2 meters of 0.66% copper, 0.24 g/t gold, 12.0 g/t silver. Hole 277 did not even reach its target depth due to difficult ground conditions.
With the next, second drill hole at Camp Creek, Brixton will then proceed to drill test for a possible extension of the known mineralization. This is a so-called step-out drill hole, which will be drilled in a north-westerly direction from drill holes 184 and 201. Hole 184 ended at 1,198 metres in strong copper mineralization, with the bottom of the hole returning 318 metres of 0.42% copper, 0.17 g/t gold, 3.87 g/t silver and 294 g/t molybdenum, while hole 201 intersected 150 metres of 0.60% copper, 0.19 g/t gold, 5.12 g/t silver and 391 g/t molybdenum. The planned extension drilling is of course also intended to discover the higher-grade core of the Camp Creek porphyry.
Thorn Project, Copper Geochemistry and 2024 Target Areas
New destinations several kilometers away from Camp Creek
As mentioned, in addition to Camp Creek, Brixton will also be looking at new copper porphyry targets, including the Trifecta target located 1.5 kilometers southeast of Camp Creek. The Company has focused on Trifecta based on recent results from rock samples with contained copper and soil samples. In addition, historical drilling has returned encouraging copper and molybdenum results. The Brixton team is also looking for a new copper porphyry center here. Three kilometers east of Camp Creek is the Cirque copper and molybdenum target, where a potential new porphyry center is also being targeted.
At a much greater distance from Camp Creek is the North Copper target, 15 kilometers (!) to the northwest, centrally located on a large surface copper anomaly. Here, however, Brixton will first carry out a geophysical survey as well as additional mapping and sampling before setting out to prove a new copper porphyry center here as well.
Cooperation with the Mineral Deposit Research Unit
At Camp Creek, the company is collaborating with the Mineral Deposit Research Unit of the University of British Columbia, which is conducting a study on porphyries in British Columbia. A research project has already begun here with the aim of determining geochemical and alteration vectors in the direction of blind porphyry mineralization. In addition, an alteration mapping project is underway to characterize and map the 4.1 by 3.9 kilometer alteration footprint around Camp Creek.
The results of these studies could be extremely helpful for Brixton, because porphyry deposits often occur in clusters and the use of petrographic, geochemical and mineral spectrometer analysis can help in the search for vectors outside the currently drilled areas to highlight further potential porphyry centers and make additional discoveries possible.
Gold drilling also planned for 2024
As emphasized at the beginning, Brixton Metals is concentrating this year at Thorn primarily on copper porphyry targets, and also on making new discoveries. Nevertheless, the company is also reviewing its gold targets with a view to possible drilling. This could include selected drilling at the Trapper epithermal gold target, where Brixton’s best hole to date intersected 64 meters of 5.7 g/t gold. However, the sediment-hosted Outlaw target (59.65 meters of 1.15 g/t gold and 5.64 g/t silver from 76 meters depth) and the Metla target, where Brixton intersected up to 62.7 g/t gold in rock grab samples from surface, could also be drill tested in 2024.
Conclusion: It is understandable that Brixton Metals is looking forward to opening the 2024 exploration season now. If the company succeeds in finding or getting closer to the high-grade center of Camp Creek or even announcing new discoveries on one or more new copper targets, we believe that it will receive increased attention again in the current environment with copper at record levels. The same naturally applies to gold exploration, even if this is somewhat in the background. In any case, the CAD 12.5 million that Brixton has budgeted for the 2024 exploration budget could hardly come at a better time. We are excited!
Newsletter Anmeldung
Risikohinweis: Die GOLDINVEST Consulting GmbH bietet Redakteuren, Agenturen und Unternehmen die Möglichkeit, Kommentare, Analysen und Nachrichten auf https://www.goldinvest.de zu veröffentlichen. Diese Inhalte dienen ausschließlich der Information der Leser und stellen keine wie immer geartete Handlungsaufforderung dar, weder explizit noch implizit sind sie als Zusicherung etwaiger Kursentwicklungen zu verstehen. Des Weiteren ersetzten sie in keinster Weise eine individuelle fachkundige Anlageberatung, es handelt sich vielmehr um werbliche / journalistische Veröffentlichungen. Leser, die aufgrund der hier angebotenen Informationen Anlageentscheidungen treffen bzw. Transaktionen durchführen, handeln vollständig auf eigene Gefahr. Der Erwerb von Wertpapieren birgt, gerade bei Aktien im Penny Stock-Bereich, hohe Risiken, die bis zum Totalverlust des eingesetzten Kapitals führen können. Die GOLDINVEST Consulting GmbH und ihre Autoren schließen jedwede Haftung für Vermögensschäden oder die inhaltliche Garantie für Aktualität, Richtigkeit, Angemessenheit und Vollständigkeit der hier angebotenen Artikel ausdrücklich aus. Bitte beachten Sie auch unsere Nutzungshinweise.
Gemäß §34b WpHG i (Deutschland) und gemäß Paragraph 48f Absatz 5 BörseG (Österreich) möchten wir darauf hinweisen, dass Auftraggeber, Partner, Autoren und Mitarbeiter der GOLDINVEST Consulting GmbH Aktien von Brixton Metals halten oder halten können und somit ein möglicher Interessenskonflikt besteht. Wir können außerdem nicht ausschließen, dass andere Börsenbriefe, Medien oder Research-Firmen die von uns empfohlenen Werte im gleichen Zeitraum besprechen. Daher kann es in diesem Zeitraum zur symmetrischen Informations- und Meinungsgenerierung kommen. Ferner besteht ein Beratungs- oder sonstiger Dienstleistungsvertrag zwischen Brixton Metals und der GOLDINVEST Consulting GmbH, womit ein Interessenkonflikt gegeben ist.
