U.S.A., Aug 15, 2011 (Thomson Reuters ONE via COMTEX News Network) -- Vancouver, British Columbia, August 15, 2011 - Brixton Metals' (TSXV:BBB) warrants are one of the latest new listings on the TSX Venture Exchange, and trade under the symbol BBB.WT. These warrants were part of the company's second public offering in the last eight months.
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Global Maxfin Capital acted as agent on Brixton's public offering, which consisted of 10,869,999 units priced at $0.15 per unit, and 5,802,238 flow-through units, priced at $0.19 per unit. Each unit consists of one common share of the company and one common share purchase warrant and each flow-through unit consists of one common share to be issued on a "flow-through" basis and one-half of one offered warrant also to be issued on a "flow-through" basis. Selling group members include Union Securities, Haywood Securities, Macquarie Private Wealth and BBS Securities.
The company is focused on large scale precious metal deposits, and has two, early stage properties in its portfolio.
Brixton is now actively drilling on the Thorn property, which is a high-grade, gold-silver-copper project located 50 kilometres from the past producing Golden Bear Mine in Northwest British Columbia. Assays from rock samples returned up to 885 grams per tonne gold, 6,149 grams per tonne silver, 32% copper and 30% zinc. The company states that $1.3 million has been allocated to the current program, which includes 3,000 metres of drilling. The company has proposed an additional $1 million be allocated to drill a further 3,000 metres.
The Kahil Project is a gold-copper porphyry target located in the Kahiltna Terrace of Alaska, which hosts the giant Pebble gold-copper deposit of Anglo-American and Northern Dynasty. Brixton's Kahil Project is adjacent to the Whistler gold-copper deposit being developed by Kiska Metals, and the Estelle gold property being explored in a joint venture by Millrock Resources with Teck American.
Brixton has the exclusive option from Millrock to earn a 100% interest in the Cristo Claim Group, which includes both the Cristo and St Eugene projects. Millrock previously identified two mineralized areas on this property, giving Brixton two immediate drill targets. The initial drill program will include 2,000 metres on the St Eugene project. Previous rock samples assayed up to 4.2 grams per tonne gold and soil samples assayed up to 3.0 grams per tonne gold.
Since July 2010, Brixton has been actively staking 100% owned mining claims over historical mineral showings, structural trends and favorable geology within the area and is now the largest landholder in this district.
The company is reportedly seeking new M & A opportunities and would like to add a South American project to its portfolio, in order to provide year round operations.
Brixton currently trades at $0.135 and with approximately 44.7 million shares now outstanding, is capitalized at approximately $6 million.
For a more information on Brixton Metals, please visit their website at www.brixtonmetals.comor phone Peter Oates at 604-630-9707 or email peter.oates@brixtonmetals.com.
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