VIDEO: Brixton Metals Corp (CVE:BBB) CEO on Exciting Drill Results

Brixton Metals Corp (CVE:BBB) (OTCMKTS:BXTMF) (FRA:8BX1) CEO Gary Thompson discusses their outstanding drill results which they recently released.  Their results are very high in silver and cobalt, and exciting for the junior mining space.  Additionally Brixton Metals is testing in an area in Ontario that is well established with roads, railway and power.

TRANSCRIPT:

James West:    Hey, welcome to Midas Letter Live. My guest this segment is Gary Thompson. He’s the Chairman and CEO of Brixton Metals Corp, trading on the TSX Venture under the symbol BBB. Gary, thanks for joining me today.

Gary Thompson: You’re very welcome, thanks for having me, James.

James West:    The reason I wanted to talk to you today, Gary, is because you put out this fantastic press release outlining this drill result, which I had to do a double-take because the numbers are somewhat astounding. Almost 2 percent cobalt, 15,000 grams per tonne silver over a metre within a broader intercept of seven metres grading essentially 100 ounces per tonne silver and 0.27 percent cobalt.

Now that’s, by any measure, an outstanding result, and the response in the share price was arguably just flat. And so I wanted to ask you: am I missing something here? Is that not a very significant drill intercept?

Gary Thompson: Are you kidding me? That’s an amazing drill intercept. You’re right, it’s a double take. Pretty rarely do you get silver in the percent category. So basically 1.5 percent, which is 450 ounces per tonne silver, I mean, do the math: even at $16 silver, which is around the current price, US dollars, that’s pretty amazing. So we’re super excited about this, and having 2 percent cobalt in there.

So that 1-metre interval, if you look at it on a cobalt equivalent, it’s like the equivalent to like 12.6 percent cobalt, or 18,000 grams per tonne silver, which is like 537 ounces of silver on a combined equivalent basis. I think the market’s asleep right now for junior miners, and waiting for what’s it going to take to get people excited about the space again.

You know, from our perspective, it doesn’t really matter; we’re reasonably well funded, and we’re going to continue to drill this thing out and see what kind of resource we can put together on it. So you know, yeah, we’re pretty excited about, and continue to hit good results here, and it’s a pretty unique opportunity for –

James West:    Excitement aside, if I was to look at this, and I’m no geologist, but you don’t exactly have to be a rocket scientist geologist to understand that intercepting that kind of a mix of silver and cobalt is indicative of at least a pathway to some larger ore body, potentially. I mean it’s possible that that’s strictly anomalous, but the fact that it’s a metre within a seven-metre intercept of other high-grade silver/cobalt/nickel component suggests that there’s like, is this, did you just pass through with a drill head the contact of a zone that is potentially volcanogenic mass of sulphides, or something like that?

Gary Thompson: No, it’s – I mean, the hard grade mineralization that we’re seeing, call it 7.8 metres of almost three kilos of silver there, that’s a vein dial system. We’re seeing a series of narrow veins within that almost 8-metre interval, and then in addition to some of these narrow veins that can bump a combination of these veins together coalescing, you also get some very fine disseminated mineralization, silver and cobalt minerals, within that interval. So it’s more of a vein length system there, but one of the other interesting things that we released in the news release was the lower section of 70 metres of nickel/cobalt/silver mineralization.

Now, these crazy high-grade numbers that we released in the 8 metres and within the 1 metre, that kind of dwarfs the grade of the lower section, but I think the lower section is equally important; in fact, it may be more important in the larger scale of the mining opportunity, because the lower section is not a vein system. It may be more like a replacement style mineralization system, and the fact that we hit 70 metres of it, and we’re actually looking at a bunch of different holes that we drilled even in ’16, going back and revisiting them: getting 0.1 nickel, 0.01 percent cobalt, and a little bit of silver in there. But what’s interesting about that is, from an aerial extent it looks like it could be quite large, and obviously we’ve got to do more work.

That’s what we’re doing now. We’re actually stepping out several hundred metres from that lower section to see if we can put together maybe a larger, perhaps lower-grade but much larger resource there at depth. And I think what’s important to note is that historically, people who did work in the cobalt camp were focused on the high-grade veins near surface, and this is actually starts at about 150 metres, the lower section, down to, say, 250. So most previous operators never looked that deep in the cobalt camp because they had this theory, and rightfully so, that most of the high-grade mineralization is fairly close to the Nipissing sill, which is higher up in the formation.

James West:    Right. Okay, so then, in terms of next steps, how do you approach this thing? What’s your next sort of move on the deposit?

Gary Thompson: Well, it’s kind of twofold. I guess one is, continue to – we have a whole list of targets that we’re drilling on, and some of them are just going to be follow up on the spectacular silver/cobalt intercept that we hit. Continue to try and expand those along strike and basically try and tie together a mineralized zone around the high grade.

Ultimately, we want to get to an established maiden resource, and I think this round of drilling is not going to get us to that resource statement yet, but what we’re trying to do is saying look, we’ve got a bunch of targets, let’s go through and test a bunch of these targets, let’s see which one at the end of this 10,000 to 15,000 metre campaign, let’s see which zone out of all this drilling that we’re doing is one that we really want to start to hang our hat on and put some serious drilling into.

So it’s really more of an exploratory exercise for us to test this area, to see what we can find in around the old workings and underneath the workings, that would get us to the next leg of drilling, which would hopefully be something like a 30,000-metre campaign, which we hope will allow us to establish that maiden resource.

James West:    Right. Okay, so the final sort of question I have for you, that’s in Langis Township, Ontario. It’s not exactly remote, is it?

Gary Thompson: Well no, it’s not remote at all. I mean, this was an active mining camp. There’s well-established roads, a railway, power. The infrastructure is pretty hard to beat. In fact, it’s one of the lowest building cost areas that we’ve been involved in, and as you know, we’ve got some remote projects. So this is a well-established camp, and that image you’re looking at there, that’s some very high grade native silver. So we’re pretty excited about this, and given where the cobalt market is and the battery metals market, it’s kind of interesting that we acquired the asset for the silver and it looks like we’re getting a lot of excitement around the cobalt story as well.

James West:    Yeah, you bet. Okay, well, tell you what, Gary: We’re going to keep up with you here and we’ll come back to you in a quarter’s time and see what the next result looks like. Thanks so much for your time today.

Gary Thompson: That’s great. Thank you, I appreciate it.

Original article: VIDEO: Brixton Metals Corp (CVE:BBB) CEO on Exciting Drill Results

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