RCKS Talk

17-Sep-2018

Brixton Metals Corp.

Brixton Hits One of the Best Holes of the Year in Cobalt

Impact: Positive

Brixton Metals announced additional drill results from its wholly owned Langis Mine Project located in the Cobalt Camp of Ontario.

  • The results were highlighted by one of the best drill holes released this year in the Cobalt camp. Hole LM-18-42 returned 6m grading 4719g/t Ag and 0.33% Co
  • This most recent round of results was highlighted by better than typical widths from the Cobalt camp, which is noted for its high-grade but narrow widths. In our view, these better than typical widths along with the expected high-grades set Brixton apart from its peers in the camp.
  • Continuing to intersect high-grade Ag-Co mineralization in areas that were not previously drilled reflects both the prospectivity of the company’s land package, its advanced state of data review relative to peers and the successful target generation by the exploration team 
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued based on these assets alone. The company has demonstrated an ability to acquire prospective, undervalued assets and is working to surface value on all four its projects. In our view, continued exploration success in the Cobalt camp, along with planned work at the company’s other properties, should benefit shareholders through Brixton.

13-Sep-2018

Brixton Metals Corp.

New Study Points to the Big Potential of Thorn

Impact: Positive

Brixton Metals announced that it has completed field work at its Thorn Au-Ag project in the northern tip of the Golden Triangle in British Columbia, located 200km NW from Imperial Metals Red Chris Mine.

  • The company is highlighting its collaboration with porphyry specialist, Brock Riedell, in conducting rock lithogeochemical analysis combined with short-wave infrared spectroscopy (SWIR) to generate Cu-Au porphyry targets on the property
  • Final results from the study are pending, but initial results have identified metal ratio patterns in soils and rocks that have been known to be consistent with gold-rich porphyry systems, where the company has compared to the Bingham Canyon porphyry in Utah
  • While it is certainly early days, given the size and intensity of the geochemical anomalies and location, we see the property as potentially prospective for a porphyry discovery and likely to be supported by final results from core re-logging, geological mapping and sample collection
Brixton has assembled four quality assets, and in our view each one could easily justify the company’s current market cap, without further exploration success. The company is actively advancing all four, with drill results pending from its Cobalt Camp assets.

06-Sep-2018

Brixton Metals Corp.

Brixton Adds Key Asset in the Atlin Camp

Impact: Mildly Positive

Brixton Metals has announced that it has closed a series of separate asset purchases and sale agreements to acquire 29,608ha of mineral rights in the Atlin Gold Camp of British Columbia, which consists primarily of the Spruce and Yellowjacket properties. Payment for the assets included issuing 4.3M common shares and a payment of $50,000 to Desert Mountain Energy Corp (TSXV:DME).

  • A non-NI 43-101 compliant resource of 453,500t grading 10.26g/t Au (~150koz Au) is hosted within an 80m wide shear zone oriented 65 degrees and steeply dipping to the south, where the gold occurs as free gold in intensely sheared, altered and silicified ultramafic and mafic rocks (Figure 1)
  • The company highlighted high-grade gold mineralization at the Yellowjacket zone (Figure 1), which includes intersecting 509.96g/t Au over 5.57m (hole YJ03-01) and collecting grab samples grading 1,615g/t Au
  • The larger 979sq. km land package in the Atlin camp, one of Canada’s most productive placer mining camps, is highly prospective for both intrusion related gold deposits and orogenic Barkerville style high-grade gold vein deposits, which provides large target areas for the company’s regional exploration plans going forward (Figure 2)
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued based on these assets alone. The company has demonstrated an ability to acquire prospective, undervalued assets and is working to surface value on all four projects. In our view, continued exploration success in the Cobalt camp, along with planned work at the company’s other properties, should benefit shareholders through Brixton. 

31-Aug-2018

Brixton Metals Corp.

Diamonds in Cobalt

Impact: Positive

Brixton Metals has announced that it has intersected a kimberlitic body in three drill holes at its Langis project in the Cobalt Camp of Ontario while targeting cobalt-nickel-silver mineralization in the shallow Archean rocks.

  • A total of 53.6kg from the three holes has been sent to SRC Geoanalytical Laboratories Diamond Services (GLDS) in Saskatoon for micro diamonds recovery tests where micro diamonds recovery tests returned one diamond from drill hole LM-18-37 (Figure 1)
  • Given the small sample size of three drill holes, recovering a diamond fragment is an interesting new development for the Langis project, the distance between the three holes (Figure 2) suggests that the property may host a large kimberlite pipe or multiple smaller pipes
  • The discovery of diamond-bearing kimberlitic rocks on the property warrants further investigation, which the company intends to pursue with further core and RC drilling to test for the extent of the kimberlitic body while consulting with diamond exploration experts to evaluate and assess the potential of the discovery 
While this is an exciting new discovery for the company, we expect that the company’s focus to remain on Co-Ag exploration while the company assesses the diamond exploration potential. Based on peers in the Cobalt Camp, we believe Brixton remains undervalued based on these assets alone. In our view, continued exploration success in the Cobalt camp, along with planned work at the company’s other properties, should benefit shareholders through Brixton.

20-Aug-2018

Brixton Metals Corp.

Hog Heaven Now Drill Ready

Impact: Mildly Positive

Brixton Metals has provided an update on its Hog Heaven project data review, new geophysical data acquisition and short-term project development plans.
  • Work completed to date at Hog Heaven includes the data entry of historic assay for 57,498m from 722 drill holes and the acquisition of 60 sq. km of Lidar and digital air photography
  • A total of 724 line-km of VTEM Plus and horizontal magnetic gradiometer survey have been completed over the project and have been successful in identifying several anomalies, which Brixton is planning to drill test with the objective to identify additional high-grade Ag-Au-Cu-Pb-Zn mineralization (Figure 1)
  • With no work completed since the 1990’s, the Hog Heaven project is now drill ready for initial programs, which should focus on infill and confirmation drilling to support a NI 43-101 resource estimate and to confirm the presence of new mineralization; Brixton is planning to initiate a nine-hole drill plan for the Fall 2018
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued based on these assets alone. In our view, continued exploration success in the Cobalt camp, along with planned work at the company’s other properties, should benefit shareholders through Brixton.

07-Aug-2018

Brixton Metals Corp.

Large Land Acquisition Makes Brixton Top Dog in Atlin Gold Camp

Impact: Positive

Brixton Metals has announced that it has entered into a series of separate asset purchases to acquire 100% interest in 29,608 hectares of mineral rights in B.C.’s Atlin Gold Camp.
  • Transaction includes the Spruce and Yellowjacket properties, which account for over 96% of the land acquired, by way of issuing 4,300,000 common shares and a payment of $50,000 to Desert Mountain Energy Corp (TSXV:DME)
  • Spruce is subject to a 1.0% NSR, which Brixton may purchase for $1,250,000 and the Yellowjacket property is subject to a net 1.5% NSR. Brixton also acquired 1,019 hectares of the McKee and Otter properties, which are subject to a 1% NSR, half of which Brixton holds the right to purchase
  • With this move, Brixton has consolidated 979 sqkm of land to become the dominant player in the Atlin Camp, which the company believes contains district scale potential for both intrusion related gold deposits and orogenic Barkerville style high-grade gold vein deposits
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued based on these assets alone. In our view, continued exploration success in the Cobalt camp, along with planned work at the companies other properties, should benefit shareholders through Brixton.

20-Jun-2018

Brixton Metals Inc.

Brixton Plans to Spin Out Cobalt Assets

Impact: Positive

Brixton Metals has announced that they intend to spin-out its cobalt assets in the Cobalt Camp of Ontario in order to create a cobalt focused standalone company for its shareholders.
  • With the increased demand for cobalt and overall positive market fundamentals, Brixton believes shareholders will benefit from a spin-out of its cobalt-silver assets, allowing Brixton management to tighten their focus on precious metals projects
  • If the spin-out transaction occurs, the resulting company will focus not only on cobalt, but all battery metals, including vanadium, which has seen similar growth to cobalt
  • Both the Hudson Bay and Langis projects in the Cobalt Camp are under consideration to spin-out, Brixton intends to maintain exposure to the cobalt assets through retained equity interest; spin-out ratio to shareholders, retained equity level and timing of the record date are to be announced
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example, First Cobalt (TSXV:FCC) trades at C$0.017 EV/ha, while Brixton trades at C$0.004 EV/ha. In our view, continued exploration success in the Cobalt camp should benefit shareholders through Brixton or the SpinCo and the start of exploration at the company’s Hog Heaven project should drive a re-rating of Brixton shares.

30-May-2018

Brixton Metals Corp.

Drilling at Langis Returns 3.55% Co

Impact: Positive

Brixton reported additional high-grade cobalt intercepts (Figure 1) from drilling at the company’s Langis project in Ontario’s Cobalt Camp.

  • Results were highlighted by 3.55% Co, 3.8 g/t Ag and 0.10% Ni over 0.98m which equates to 3.57% CoEq or 5,189 g/t AgEq (LM18-23)
  • Further broad low-grade Co-Ni-Ag was intersected in the basement Archean meta-volcanics and meta-sediments
  • Results continue to highlight the benefit of Brixton’s more advanced knowledge of the region and we expect follow-up drilling to yield similar success
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example, First Cobalt (TSXV:FCC ) trades at C$0.012 EV/ha, while Brixton trades at C$0.004 EV/ha. In our view, continued exploration success in the Cobalt camp and the start of exploration at the company’s Hog Heaven project should drive a re-rating. 

09-May-2018

Brixton Metals Corp.

Brixton Hits Cobalt Mineralization in Basement Rock

Impact: Positive

Brixton has identified a new broad Ni-Co-Ag mineralized zone in the Archean basement rocks at its Langis Project in addition to intersecting high-grade Co-Ag in the conglomerate sequence.

  • Experience working in the Cobalt Camp continues to pay off
  • Broad mineralized zone discovered in Archean basement rock
  • Brixton remains undervalued compared to Cobalt Camp peers
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example First Cobalt (TSXV:FCC) trades at C$0.014 EV/ha, while Brixton trades at C$0.004 EV/ha.

30-Apr-2018

Brixton Metals Corp.

Completes Phase 1 Drilling with Impressive Grades

Impact: Positive

Brixton has released the remainder of its phase one drill results from Hudson Bay and is now focusing drilling on its nearby Langis property also in Ontario’s Cobalt Camp.

  • Hudson Bay continues to deliver high-grade cobalt intersections
  • Drilling shifts to Langis, 22km from Hudson Bay
  • Brixton remains undervalued compared to Cobalt Camp peers
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example First Cobalt (TSXV:FCC) trades at C$0.014 EV/ha, while Brixton trades at C$0.004 EV/ha. 

11-Apr-2018

Brixton Metals Corp.

More High-Grade Ag & Co Results from Hudson Bay

Impact: Mildly Positive

Drill results from Hudson Bay are encouraging, intersecting additional high-grade silver and cobalt mineralization.

  • Drilling continues to intersect high grade silver and cobalt mineralization at Hudson Bay.
  • Past producing Hudson Bay leverages both silver and cobalt markets.
  • More results pending, additional high-grade intercepts expected to be key near-term catalyst. 
 
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example First Cobalt (TSXV:FCC) trades at C$0.017 EV/ha, while Brixton trades at C$0.004 EV/ha.

 

01-Jan-2018

Brixton Metals Corp. (TSXV:BBB)

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