VIEW LOOKING NORTH. Au August 2018 BXTMF : OTCMKTS

Transcription

1 VIEW LOOKING NORTH Au Ag Ag Au August BXTMF : OTCMKTS

2 SAFE HARBOUR STATEMENT Information set forth in this presentation involves forward-looking statements, including but not limited to comments regarding timeline, predictions and projections. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified on the Company s website or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking state. The historical estimates contained in this presentation have not been verified as current mineral resources. In general, Brixton Metals believes that the historical estimates are a reasonable estimate based on data available at the time and that there is potential to expand this historical estimate to a significant drill discovery through an initial round of exploration drilling and by closer-spaced infill drilling to standards suitable for formal resource estimation. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Brixton Metals is not treating the historical estimate as current mineral resources or mineral reserves. No assurances can be made that exploration targets will be developed into resources or reserves. The exploration targets are conceptual in nature and relies on projections of mineralization that are beyond the standard CIM classification of mineral resources and should not be relied on as mineral resource estimates The Qualified Person ( QP ) for Brixton cannot verify the drill results for the Hog Heaven project reported in this presentation or the other technical information regarding the Hog Heaven project set out in this presentation. The precise location of the drill cores from the historical drill programs is presently unknown and they have not been inspected by the QP, and therefore Brixton has not undertaken any re-logging, resampling or check assays; however, Brixton has no reason to doubt the results and considers the results relevant and suitable for disclosure. Data from the drill results are historical results and it is unknown what type of quality-control programs were performed at the time. The QP also advises that true width of the above results cannot be determined at this time. Mr. Sorin Posescu, P.Geo. is the QP who assumes responsibility for the technical contents of this Presentation. 2

3 HOG HEAVEN LOCATION 3

4 LAND STATUS 10 sections of private lands No BLM Non- Forest Service 3% NSR to vendor 4

5 PROJECT HISTORY 1913 Anaconda Sunk exploration shaft Anaconda and lessees Production of 6.7Moz Ag at an average grade of 29 troy ounces of Ag per ton, 3,000 oz Au, 23M lbs Pb, 0.6M lbs Cu from 230,000 tons and an additional 49,700 tons grading 9.35 troy ounces of Ag per ton (direct ship).the mine was operated by Anaconda from 1929 to 1946 and by a lessee from 1963 to CoCa Mine Non-NI Feasibility Study (1988) using a silver price of US$6.50/oz and a gold price of US$400/oz. Hog Heaven Historical (Non-compliant-Ni ) Historic (1) Tonnes mm Ag (g/t) Au (g/t) Moz Ag Moz Au (1) Based on a historical estimate for Hog Heaven prepared by Gregory Hahn, Chief Geological Engineer for CoCa Mines Inc., a previous owner of the property, in a report titled "Hog Heaven Project Optimization Study" dated May 1989, prior to implementation of National Instrument Standards of Disclosure for Mineral Projects ( NI ) (as disclosed in a prior owner s resource statement [see Brixton s news release dated June 22, 2017]) and based on diamond drilling. While Brixton considers these historical estimates to be relevant to investors as it may indicate the presence of mineralization, a QP for Brixton has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI and Brixton is not treating these historical estimates as a current mineral resource. 5

6 PROJECT HISTORY CoCa Mine Years Acquired Operating Permit Pan American Silver maintained Operating Permit, baseline water quality, no exploration 1996 Kennecott Evaluation Geologic mapping, ground magnetics, gravity survey, soil sampling 2 DDH holes (one of the two holes was not assayed for gold) 2017 Brixton Metals Acquired 100% from Pan American Silver for 2.68M common shares Completed data compilation from 58 banker boxes Exploration license issued 722 drill holes for 57,498m of drilling (1970 s to the mid 1990 s) 6

7 2018 WORK TO DATE 75 line-km of helicopter-borne VTEM and horizontal magnetic gradiometer geophysical surveying 60 sqkm of Lidar data and orthophoto acquisition Ground truthing of historic collar locations for mine grid to UTM transformation Construction of a new core facility Biannual water sampling Posted bond with DEQ for renewed Operating Permit 7

8 2018 RESEARCH Brixton-funded Montana Tech research studies MSc. Project #1 SWIR/XRD study of hydrothermal alteration at Hog Heaven Will provide vectors towards feeder zones in the deeper parts of the magmatic-hydrothermal system MSc. Project #2 Ore mineralogy, fluid inclusion and stable isotope study to understand the mineral paragenesis and hydrothermal fluid source 8

9 2018 PROPOSED DRILLING 2,500 metres of drilling in 9 holes Budget: US$750,000 (All in cost of US$300/meter) Drilling permit and drill contract in place Starting mid-september 2018 (pending new funds) 9

10 MAIN MINE circa 1980 s Pre-reclamation 10

11 HOG HEAVEN VOLCANIC FIELD 11

12 HOG HEAVEN GEOLOGY Main Mine Ole Hill Drill holes 12

13 GENERALIZED SCHEMATIC MODEL 13

14 MAIN MINE CONCEPTUAL CROSS-SECTION Replacement mineralization Mineralization in zones of acid leaching and silicification Diatreme breccia Volcaniclastics latite porphry Under-explored targets at Belt unconformity Belt Supergroup/Precambrian Basement 14

15 15 DIATREME BRECCIA

16 HOG HEAVEN EXPLORATION UPSIDE West Flathead Mine Mary Ann Bergman Mine Birdseye Mine Significant upside exists for extension of known mineralization and new zones to be discovered Martin Mine Donald Francis Mine Martin Lease Margarite Mine 16

17 PERIPHERAL TARGETS West Flathead Mine West Flathead Mine X Production: Year Tons (dry) Au (oz/t) Ag (oz/t) Cu (%) Source No assays Anaconda No assays No assays Lindbom Total Total Production: Tons (dry) Au (oz) Ag (oz) Cu (lbs)* ,097 16,753 Anaconda geologists estimated that 200,00 tons of 12 to 16 oz/t Ag remains See Page 16 for reference location Mineralization plunges to the southwest along Belt unconformity, where fumarole pipes become more abundant 17

18 PERIPHERAL TARGETS Mary-Ann Bergman Mine X Mary Ann Bergman Mine Targets exist to follow up on most recent drilling: FD-77-45: g/t Ag (13.3m from 36.7m depth) Conical silicified vent zone hosted in porphyritic latite Low tonnage high grade targets envisioned with similar grade to historic ore (up to 8,228 g/t Ag) See Page 16 for reference location 18

19 Martin Mine X See Page 16 for reference location Year PERIPHERAL TARGETS Au (oz/t) Ag (oz/t) Cu (%) Remarks Martin Mine Truckload shipped to smelter Anaconda sample Face of adit near the shaft; highest of several samples to tons hand-sorted ore Sulfide ore with energite; vein 18" to 2' wide; sample of 5 tons Anaconda sample Weighted ave: 23.6 t at oz/t Au, 17.2 oz/t Ag and 6.26% Cu Mining focused on a steep N-trending vein increasing in width at depth Additional veins discovered in the 1970 s at the 100 level assayed 9.6 g/t Au and 960 g/t Ag Ore consists of sulfides in silicified breccia zones in Belt argillite as veins and breccia 19

20 PERIPHERAL TARGETS Exploration targets: Martin Mine 1. The Martin vein hasn t been located north of a fault, near the north end of the 200 and 300 levels. 2. The vein hasn t been mined below 300-level, where it may improve in width, as it definitely dies-out upward near the surface. Martin Mine X See Page 16 for reference location 3. An ore shoot at a vein intersection 300 ft north of the shaft hasn t been mined below the 200-level. It widens downward between the 100 and 200 levels and may further widen at depth. 4. Two additional veins, discovered by core drilling on the 100-level: ~6 feet wide at 0.28 oz/t Au and 28 oz/t Ag. 5. There is a possible large-tonnage disseminated exploration target on the 100-level where 3- to 8-ounce silver extends at least 80 ft along a crosscut west of the Martin vein. 20

21 PERIPHERAL TARGETS Martin Lease Grab samples between 240 and 546 g/t Ag from samples of unknown width from silicified breccia zone (Landreth, 1961) NE extension of the Margarite zone? Martin Lease X See Page 16 for reference location 21

22 PERIPHERAL TARGETS Margarite Mine Pb-Zn-Cu ore associated with NE trending fracture-breccia zone in Belt rocks Eight samples from the 100 level averaged 4.1% Pb and 5.7% Zn X Margarite Mine Enargite samples from waste dump assayed up to 3% Cu Width and value of mineralization is reported to increase at depth (Superior Mining Co.,1980) See Page 16 for reference location 22

23 LIDAR 60 sq.km of Lidar acquired km

24 HOG HEAVEN GRAVITY Geophysical targets (mag lows along edges of gravity lows in areas of intersecting structures) Mineralization focused within NE trending graben and possible NW trending graben x Historic mine workings 24

25 HOG HEAVEN TMI Tertiary volcanoplutonic complex Total Magnetic Intensity (2018) Coincidence of E-W structures, intersecting structures and margins of mag lows with mineralization Support of mapped structures in recently acquired geophysics Newly interpreted E-W lineaments x Historic mine workings 25

26 HOG HEAVEN TMI Total Magnetic Intensity (2018) Coincidence of mapped argillic alteration with mag lows Additional mag lows along NWtrending graben could indicate new targets x Historic mine workings mapped argillic alteration 26

27 HOG HEAVEN CVG Calculated Vertical Gradient (2018) x Historic mine workings 27

28 HOG HEAVEN HGRAD Horizontal Gradient (2018) x Historic mine workings 28

29 HOG HEAVEN TILT DERIVATIVE Tilt Derivative (2018) x Historic mine workings 29

30 HOG HEAVEN VTEM SFz9(2018) db/dt ms time channel x Historic mine workings 30

31 HOG HEAVEN VTEM SFz22(2018) db/dt 0.29 ms time channel x Historic mine workings 31

32 HOG HEAVEN VTEM SFz44(2018) db/dt ms time channel Most historic workings and mines on margins of deep conductor/ interpreted intrusive complex x Historic mine workings 32

33 MAIN MINE EXPLORATION UPSIDE 8040 A A A targets for expansion and infill A 33

34 MAIN MINE METAL ZONATION > 70 g/t Ag Zn Pb Ag Au >0.5% Pb >0.5% Zn > 0.5 g/t Au N-S long section feeder zone 34

35 OLE HILL MINERALIZATION Ole Hill Feeder Zone Target > 70 g/t Ag >0.5% Pb > 0.5 g/t Au E-W trending feeder zone? N-S long section 35

36 MAIN MINE DRILL TARGETS Ag Eq g/t Au g/t AFR m of 527g/t AgEq 100m AFR-80-4 View to N, 30m clipping Follow up on broad high grade Ag and Au at end of hole AFR

37 MAIN MINE DRILL TARGETS AgEq g/t Ag g/t 26m of 2,330 g/t AgEq 200m 0.91m of 18% Cu 3.04m of 2.75% Cu View to NW, 50m clipping Follow up on AFD-79-5 high grade Ag zone and AFD % Cu 37

38 MAIN MINE DRILL TARGETS AgEq g/t 62.48m of 181.9g/t AgEq View to west, 50m clipping 10.67m of 368 g/t AgEq Follow up on AFD broad Ag-Au, but no base metal zone assays AFR high grade Pb and Zn Test South Fault feeder zone Ag g/t 200m 38

39 MAIN MINE DRILL TARGETS AgEq g/t 2-4 Zone Open to N-S, E and W Broad mineralized intercept 42m of 275g/t AgEq FD m Ag g/t View to East, 30m clipping 100m 39 FD-75-4

40 OLE HILL DRILL TARGETS AgEq g/t 13.7m of 41.4 g/t Ag 100m Au g/t View to west, 50m clipping Follow up on R-87-5 ending in 1.64 g/t Au 13.7m of 1.13 g/t Au 100m Test E-W feeder zone to Ole Hill 40

41 Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t $17 x Ag g/t $3 x % Cu 100 x $1 x % Pb 100 x $1.20 x % Zn 100 x /$17 x This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb. HOG HEAVEN AGEQ GRADE SHELLS Plan View Map Main Mine A AgEq g/t 8040 m Ole Hill Depth slice at 1210m elevation A m 41

42 24.38 m of 438 g/t Ag Incl. 3.05m of 987 g/t Ag A HOG HEAVEN-MAIN MINE LONG SECTION SILVER ONLY VIEW TO EAST 23.01m of 599 g/t Ag Incl. 3.05m of 3075 g/t Ag 42.67m of 356 g/t Ag Incl. 7.62m of 928 g/t Ag 18.29m of 633 g/t Ag Incl. 3.05m of 2571 g/t Ag A m of 1089 g/t Ag Incl. 3.05m of 2169 g/t Ag 74.68m of 210 g/t Ag Incl m of 346 g/t Ag 15.24m of 230 g/t Ag 18.29m of 372 g/t Ag Incl. 4.58m of 1085 g/t Ag 32.01m of 276 g/t Ag Incl. 6.09m of 651 g/t Ag OPEN 25.91m of 211 g/t Ag Incl. 7.62m of 383 g/t Ag OPEN 32.48m of 155 g/t Ag Incl. 4.57m of 348 g/t Ag 54.86m of 254 g/t Ag Incl m of 494 g/t Ag m of 302 g/t Ag Incl. 7.62m of 647 g/t Ag 44.20m of 496 g/t Ag Incl. 7.62m of 1359 g/t Ag m

43 m of 266 g/t AgEq Incl m of 745 g/t AgEq A HOG HEAVEN-MAIN MINE LONG SECTION SILVER EQUIVALENT* VIEW TO EAST 23.01m of 687 g/t AgEq Incl. 3.05m of 3347 g/t AgEq 42.67m of 375 g/t AgEq** Incl. 7.62m of 970 g/t AgEq 18.29m of 695 g/t AgEq Incl. 3.05m of 2737 g/t AgEq A m of 1623 g/t AgEq Incl. 9.15m of 2951 g/t AgEq 74.68m of 338 g/t AgEq Incl m of 524 g/t AgEq OPEN OPEN 25.91m of 268 g/t AgEq Incl. 7.62m of 454 g/t AgEq OPEN 62.48m of 182 g/t AgEq** Incl. 4.57m of 426 g/t AgEq 54.86m of 411 g/t AgEq** Incl m of 841 g/t AgEq 32.01m of 318 g/t AgEq** Incl. 6.09m of 788 g/t AgEq 67.06m of 391 g/t AgEq Incl. 7.62m of 736 g/t AgEq 53.34m of 643 g/t AgEq** Incl. 9.15m of 2226 g/t AgEq 30.48m of 402 g/t AgEq 18.29m of 632 g/t AgEq** Incl. 4.58m of 1566 g/t AgEq metres *Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t $17 x Ag g/t $3 x % Cu 100 x $1 x % Pb 100 x $1.20 x % Zn 100 x /$17 x This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb. ** These intercepts have incomplete assay data for Cu, Pb and Zn 43

44 HOG HEAVEN HISTORICAL DRILLING Hole ID From (m) To (m) Interval (m) Ag g/t AgEq g/t Ag GxT AgEq GxT FD FD FD FD FD BOD BOD-79-2A AFR AFR AFR AFR AFD AFU AFR AFR AFR AFD-81-24** AFR-81-8** AFR-81-26** AFR-81-38A** AFR-81-40** R-83-52** holes: 68% of intervals were not analyzed for copper and 34% were not analyzed for lead and zinc Copper and Gold grades increase with depth *Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t $17 x Ag g/t $3 x % Cu 100 x $1 x % Pb 100 x $1.20 x % Zn 100 x /$17 x This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb. ** These intercepts have incomplete assay data for Cu, Pb and Zn

45 HOG HEAVEN Next Steps Relogging /resampling campaign of the historical drilling in support of a geological model and resource estimate Geological/structural mapping Fall 2018 phase one drilling with a focus on high grade zones as confirmation, infill and extension of the know mineralized zones Define a maiden resource with sufficient material to complete a PEA in 2019 Engaging with stakeholders Hog Heaven Drill Core ~722 holes have been drilled 45