Brixton Metals CEO Gary Thompson (TSXV:BBB) believes that the company’s Langis-Hudson Bay and Hog Heaven projects will have NI 43-101 compliant resources in the next couple of years.
Since obtaining the Langis-Hudson Bay project in 2016, Brixton Metals has been collecting samples of high grade silver and cobalt. While the project hosts past producing mines, there are still new veins of silver and cobalt being found within these.
Below are a video and transcript of our interview with Brixton Metals CEO Gary Thompson. The transcript has been edited for clarity and brevity.
Investing News Network: Please give our investor audience an overview of Brixton Metals and its projects across Ontario, Montana and British Columbia.
Brixton Metals CEO Gary Thompson: Brixton is a junior exploration company. We have four, fully-owned assets, including two in Northwest British Columbia that are large scale, district-scale gold properties in the exploration stage. We also have our Ontario Project, which is more brownfield exploration and with past-producing silver and cobalt mines that we are actively drilling. Lastly, we have a silver, gold and base metal asset in Montana that’s a more advanced stage project. There was a feasibility done on that in the late 1980s and so we’re facing most of our dollars right now and we’re going towards the Ontario and Montana assets.
INN: What is the historical value of the Langis-Hudson Bay Project? What was it that drew Brixton Metals to it?
GT: The project hosts past-producing mines that we acquired in 2016. Langis produced about 10.5 million ounces of silver at about 25 oz/T silver. The Hudson Bay mine only produced about 6.5 million ounces of silver but at 123 oz/T grade. So, these are small mines, but with very high grade. The interesting thing is it has got a significant amount of cobalt component in each of the zones.
INN: Please tell us about the exploration activities the company has been conducting on the Langis-Hudson Bay project. Are there any findings you would like to highlight?
GT: We recently announced last week a spectacular high-grade silver intercept on our Langis mine. There was an almost eight-meter section that was nearly three kilos of silver equivalent. It was about 2,700 grams of silver and about 0.3 percent cobalt. Within that, there was a one-meter section that ran about 450 ounces of silver and about 2.0 percent cobalt. So, pretty spectacular with some of the highest grades of cobalt and amazing silver grades that we’ve seen coming out of the camp. We’re pretty excited about that. In the lower section of that hole, we hit a really broad, 70-meter zone of a cobalt silver nickel mineralization. We’re pretty intrigued by that because it looks like it could have some scale potential. Between the higher grade and the broad low grade, I think we’ve got a pretty interesting story in the making there.
INN: What is next for Brixton Metals and how does that tie into the company’s long-term plans?
GT: The goal for Brixton is to hold value through exploration and development. The big milestone for both the Ontario and Montana assets would be to evolve them into a NI 43-101 compliant resources. Even though the Ontario project is a past production story, there’s no resources defined and the Montana Hog Heaven asset has a historical, non-compliant resource, and we need to do some work to get those into compliant statements. That’s going to be the milestone for both of those assets over the next year or two. We need to get enough drilling done so that we can publish maiden resources on those two projects.
INN: Savvy investors know strong management is key to a company’s success. Are there any executives you would like to highlight on your board and management team?
GT: We have a discovery-driven team, and they’re very talented. All of the guys have been involved in successful transactions. Cale Moodie was on the team that built up Underworld Resources, which was sold to Kinross Gold (TSX:K). Carl Hering, one of our directors, was involved with Bright Resources, which was sold to Osisko Mining Inc. (TSX:OSK) and is now about a 10 million-ounce deposit. Danette Schwab, our lead geologist, was on the team that built up Long Canyon, which was sold to Newmont (NYSE:NEM) for $2.3 billion.
We’re a technically strong team and one of the things I’d like to say is that we have a $15 million market cap company, which is where we are today. We have three billionaires and two major mining companies as shareholders. I think that says a lot about the team and about our assets.
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The interview below was originally published in December 2016 and has been updated. Please scroll up for the most recent interview.
Brixton Metals CEO Gary Thompson shares highlights from the company’s 2016 exploration programs in both Ontario and British Colombia, what’s coming up for 2017, and long-term goals for high-grade precious metals projects.
Brixton Metals (TSXV:BBB) is a precious metals exploration and development company focused on advancing its wholly-owned high-grade gold and silver projects.
The Langis silver project in Ontario, Canada’s historic Cobalt silver camp includes the …read more
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