Brixton Metals Corp. (TSXV:BBB) has announced initial drill results from its Hudson Bay Project located in the Cobalt Camp of Ontario. The company
highlight the intersection of 1.00% Co, 11.10 g/t Ag, 0.95% Cu and 0.72% Ni (1.25% CoEq) over 0.80m from 52.20m depth in drill hole HB18-01 and 0.28%
Co, 8.30 g/t Ag, 0.15% Ni and 0.18% Cu (0.34% CoEq) over 1.83m from 53.17m depth in drill hole HB18-03. The Hudson Bay Mine previously produced high-grade
silver with cobalt as a by-product, and after a detailed data review, the company is now targeting both high-grade silver and cobalt mineralization
at its Cobalt camp projects. The company has already completed 1,500m of drilling on the property, which includes these first three drill holes that
have all been successful in intersecting Co-Ag mineralization. We note that based on peers within, Brixton’s 2,516ha land position in Cobalt, implies
that the company is significantly undervalued, on this asset alone. For comparison, First Cobalt (TSXV:FCC) trades at 1.7 cents per hectare, while
Brixton trades at 0.6 cents per hectare. This suggests to us that, especially when adding in Hog Heaven and the company’s other assets, the share price
has the potential for meaningful appreciation.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
Alex Pitcher | Associate
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Brixton Metals Corp. - TSXV:BBB - 2,3,4
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