Brixton Metals Corp. (TSXV:BBB) continues to have drill success at its Hudson Bay project in the Cobalt Camp, highlighted by 0.22% Co, 0.48% Cu and
17.3 g/t Ag (0.25% CoEq, 336.62 g/t AgEq) over 3.00m (HB-18-04) and 0.71% Co, 10.3 g/t Ag, 0.46% Ni, 0.37% Zn (0.80% CoEq, 908.95 g/t AuEq) over 1.00m
(HB-18-05), both at shallow depths of 46m and 56m respectively. Mineralization intersected in both holes appear to be a part of a northwest trending
system that has not been mined out, also intersected by previously released holes HB-18-01 and HB-18-03. Brixton is targeting high-grade silver and cobalt mineralization, historically silver was the focus
of past production, drilling to date has been successful in intersecting both. We note that based on peers within the Cobalt Camp, 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 C$0.020 EV/ha, while Brixton trades at C$0.006 EV/ha. 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 as the company’s Cobalt potential becomes better understood.
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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