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Thorn coming up roses for Brixton

Brixton Metals (TSXV: BBB) has added to its holdings around its Thorn project in British Columbia’s Golden Triangle where it says it’s continuing to “unlock a mountain of value”.
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Brixton Metals is looking to “unlock a mountain of value” at its Thorn project in BC

Staff reporter

Highlights from the first two holes in phase two drilling at Thorn included 256.87m at 2.13g/t gold-equivalent, including 24.4m at 6.91g/t Au-eq, or 2.42g/t gold, 128.22g/t silver, 3.05% zinc and 1.02% lead from the Glenfiddich zone.

Its first hole at Thorn in July had hit 554.7m at 1.97g/t Au-eq, sending its shares up about 81% to C23.5c.

Its share price then soared to 43c in August, after Eric Sprott became the company's largest shareholder when he increased his stake as part of an upsized placement which raised $7.8 million (US$5.9 million) at 18c per unit.

More assays are pending from phase two drilling at Thorn and further geophysical survey lines are planned for 2020 after this year's results suggested a large, untested target northeast of the Oban zone.

Brixton said it had also staked an additional 977sq.km in the area, based on the British Columbia Geological Survey re-analysis of stream sediment data which indicated high porphyry potential areas.

Aside from Thorn, the company has the Atlin Goldfields project in BC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in Montana, US.

Its shares touched 24c intraday but closed down 13% or 3c to 20c to capitalise it about $27 million (US$20.5 million).