Brixton Metals Updates Us on Langis, Thorn and Sweden

0:16Gary Thompson: All right, continuing our coverage today, and we are going to get an update from Brixton Metals. They do trade on the Venture Exchange with BBB and on the OTCQX with BBBXF. It's been a few weeks since Gary Thompson, CEO of the company, and I have been able to touch base, but there has just been a flurry of news coming out of the company over the last couple of weeks from late September until today. Today was drill results coming out of the Langus project. Before that, we had drill results coming out of the Thorne project. And before that, big move into Sweden. Yeah, more on that in just a minute here.

0:56Gary Thompson: But Gary, man, uh, Fast and Fierce, hey, you're juggling a lot of things right now with the company with exploration. I mean, give us the broad sense of how everything's going there with the team. Yeah, it's good. We're, uh, we're in a bit of a hiring spree too. Um, looking to, to staff up in Ontario, uh, because we're, we just, uh, added, uh, this week added a third drill. So we're, you know, we're really pushing hard to get to that MRE and, you know, yeah, we just need more meters. So we're pushing three drills now. 9 ,000 meters a month is what we're anticipating. So we're going to have a lot of news flow out of Langus, you know, over the winter months for sure.

1:42Yeah.

1:43Gary Thompson: It's just a project that continues to deliver spectacular grades. I mean, let's just start there, Gary. It was the news of the week here. Hole 412 hit just six and a half meters of 667 grams per ton silver, and there was a shorter interval in there of whopping grades of silver. And then hole 442, nine meters of 222 grams per ton silver with a half meter in there of 1 ,600 grams per ton. So you're really hitting some spectacular grades here, Gary. Maybe since the last time you and I talked about Langus, what are you finding out here about the dimensions of this project and where are you stepping out and finding more mineralization?

2:27Yeah, well, and I think you missed the headline there, Trevor. It was four meters of 1975 within a broader 23 and a half meters of 348 and 449. So what it's telling us is that, I mean, there's still mineralization, obviously, that they didn't mine back in the day. And, you know, we've been all along, we've been just taking the strategy of, you know, drilling and around the old workings, which there are about 10 kilometers of underground workings. and you know we're finding obviously new mineralization and just trying to expand away from some of these areas and so we're kind of still in that process of flushing out some of the mineralization trends and in our most recent release we kind of broke it down kind of into quadrants to give people a better idea when we're talking about these areas you know, shaft 6 south, shaft 6 southeast, east and west, you know, reference point of shaft 6 is where they pulled out most of the high-grade silver and some of the zones were, you know, 20, 30-meter wide zones that are open stopes there.

3:53So what we're trying to do is, you know, now we're moved off to the west side in an area with one drill called Dolphin Miller. which I think maybe just had one hole there from Brixton back in the early days when we first started here. But some of the underground, we found, actually we found an old underground map that wasn't, that actually wasn't digitized. And it had some spectacular grade reported in this old map. So, you know, we're jumping out there to see if we can put that in a drill hole. and that's kind of way on the west end of uh of the project um yeah so now we've got three drills we're going to kind of space it out so they're not bumping into each other but um different parts of the different parts of the langus so that we can get good coverage um and ultimately just trying to get enough meters and enough uh high grade behind us so we can we can get that mre uh out sometime next year, which, you know, we're anticipating somewhere Q2 probably.

5:00Okay.

5:01Gary Thompson: I will say there's some excellent images in the news release here. I would point out to figure four, but also there's a figure five kind of cross section of a lot of the drill results as well. And I'm looking at that here. That's that image here, Gary. I'm noticing a big gap between shaft six and shaft six West and just kind of curious if this is at all perspective for you, if it's something that needs to be looked at or if there's just not enough data there to support some allocation. yeah absolutely there's um and we we do see a bunch of gaps um you know in and around these areas that we've been focusing on you know our attention's been given to areas where we know that there's high grade from either workings or historical production or from some of the underground grilling um and i think you know the next step is going to be okay well once we've exhausted those known targets, then it's going to be, okay, we'll fill in some holes.

6:05And even if you go, if you look at the Shaft 6 south area and the Shaft 6 southeast area, those are some of our two highest grade zones. And even this map actually doesn't show it correctly because it's taking a big width there, but there's still some room between our two best intercepts. so there is more infill to come and it's just going to be right now we're just chasing show me the high grade, put the high grade in the pipe and the silver in the box and then we'll start to once we've exhausted that, then it's going to be okay fill in those areas that we don't have any information on and kind of working towards that, but yeah, lots of holes to drill here, but 9 ,000 meters a month we should start to fill in the gap pretty good here

6:56Gary Thompson: Well, I was going to say, does that kind of filling in those gaps or is it going to play any sort of crucial part in that resource estimate or is it maybe a little bit more blue sky potential? Well, could be. I mean, I certainly hope it does. Yeah, we'll have to see how things come together for us. But obviously, if we tag into another, you know, IPOP and Intercept here, then, and I'm referring to like, you know, the big hole we had, 377 of 20 meters of 5 ,000. I mean, you obviously want to get more holes into those kinds of hits. But, you know, from my perspective, anything, obviously 500 gram and better, we, you know, we're, we came up with our exploration target of four to 800 grams, one to two million tons.

7:47So I think anything in that range is, is kind of within the target of our, our estimate. Obviously multi kilos is better, but yeah, it's just going to be a, it's a process. And we know that we need more drill density because we're not hitting on every hole. It's a bit pockety, but we are starting to build volume around these hits. So, again, it's just going to come down to drill density and figure out how the sand wear it holds together, and we'll just keep at it.

8:23Gary Thompson: Speaking of densities, very dense with native silver here, obviously. That's what's giving you the grade here. Gary, have you made a move towards any sort of met recovery testing with rock you currently have? Maybe what does that process look like for the team right now? Not on the hard rock stuff. We are doing metallurgical work on the tailings because that's going to be the first MRE will come out, which will be based on the tailings. but if you look at the historical production numbers they were getting something in the neighborhood of 88 to 98 or something like that quite high recoveries and even though we're getting some pretty good numbers in the tails and if you remember that we put out up to 800 grams silver in tailings most of it is coming in in that sort of 2 ounce two ounce per ton range.

9:23I think 67 grams was the average. So a couple ounces of silver in the tails. You know, when they mine high grade, usually the spillage is quite good. And I think we're seeing that quite high grade waste rock. So that's coming. I mean, we've got a lot of work to do between now and the MRE. And I think we'll start to look at some of that network probably over the winter months as we turn into the new year and start to think about the MRE and how that looks and where the biggest volume is. We're still chasing new areas here. And even though, you know, like I said, the shaft six area, they pulled some of the some of the wider parts of the of the zone.

10:13The area that the west area, I find quite interesting because we're we're getting some maybe not as high grade like in the west of shaft three, but quite broad near surface stuff. Most of the mineralization we're seeing in the south and southeast of Shaft 6 area, we've got about 40 to 50 meters of overburden. And then we're drilling down around 200 meters, 150, 200 meters, plus where we're getting the big hits. But as we go west here, we're getting mineralization on that surface. So there may be some broader, lower-grade, open pitable stuff that we're looking at as well. So lots of moving parts on this project.

10:56And yeah, I'm glad to see more meters getting done here.

11:02Gary Thompson: Yeah. Okay. Well, there's also more coming down the pipeline also from your, well, I guess, I don't know if currently is your flagship or was your flagship. But obviously, the field season, I believe, is wrapping up if it hasn't wrapped already here, Gary. But the Thorne project, you did put out new drill results at the Glen Fittich zone there at the Camp Creek area of Thorne. Headline hole, 58 meters of a half gram per ton gold equivalent and 17 and a half meters of one and a half grams per ton gold equivalent out of there. Obviously still, you know, I think these are the first results out of Thorne we've seen yet this year.

11:42Gary Thompson: So maybe walk us through these results and really what to expect with more out of that project. Yeah, that was our second batch of results from Thorne. We did have one, I think our first high-grade hole that came back that we published early on. But we wanted to get all the results for the Glenfiddich zone because that makes up, I think, a significant portion of the updated MRE that's coming as well for Thorne. So we've got a fair amount of drilling done now. And the camp is closed now. We closed a bit earlier this year just because we had a smaller budget. So we're, yeah, numbers are coming in quite fast on both projects.

12:30So we are working towards, so it's interesting for Brixton, it's a bit of a conversion year. So we're going to have five MREs out on this company over the next, between a month and I will say nine months if we use sort of the next month to Q2 27. So three at Thorne. So the Camp Creek deep porphyry, which we're going to put, wrap an MRE around, which is, you know, 18, 19 deep holes we put into the porphyry. And then the glenphidic and the shallow veins, the old man, bretcher, glenphidic, talusker, north side, we've got several veins that actually weren't properly modeled. so that's going to make up a shallow MRE for the high sulfidation gold silver copper veins and then of course the porphyry of Camp Creek so kind of like two in Camp Creek because they're really two domains the upper high sulfidation which sits above the porphyry and then the porphyry itself is a different beast copper gold silver moly and then the third MRE for thorn will be trapper we've had five seasons of drilling only drilled a few holes this year were more, they were kind of more infill to contain a domain on that and we're trying to pull apart the high grade versus the whole great stuff there so we're keen to get that all of that is going to be significant and that'll help drive what we're going to do in 27 at Thorne and it's a good question, it's been our flagship, we spent a lot of money on that but there's some good stuff to talk about there.

14:11There's still new zones. We're continuing to find new mineralized zones on the Thorne project, and there's no shortage of targets. And so I think getting out those MREs is going to put a bit of a, we'll call it underpinning evaluation for us there with all the money that we spent over the years. but you know i would say langus is moving up the ranks from a um you know it's something we can drill all year round the cost of drilling is you know a fraction of what it is at thorn so we just get a lot of bang for our dollar here um so it's arguably uh langus is is even though they're different totally different beasts it's i would say it's giving thorn a bit of a run for which project is going to come up as a top dog here.

15:02Gary Thompson: Well, so a lot of MREs coming from the company here in due amount of time, but coming from the way back, and this gave me a curveball here, Gary, changing jurisdictions or adding diversifying jurisdictions into Sweden. Actually, a part of Sweden I have been to, the Bergeslagen. And you have acquired an option agreement for the Silver Groovin project in Sweden. Gary, give me the thought process of why this project and Sweden fits, you know, the portfolio of Bricks to Metals. Yeah, you know, really what caught my eye was the grade. You know, it produced, I don't know, about a half a million ounces at 1 ,500 grams per ton.

15:55and you know i did a site visit there and this project was work this was like the king silver um you know in 1500 1600s uh they were working here mining by hand like old school um before dynamite they would heat the rock with fire and then throw cold water on it that's how they broke the rock and got got these tunnels going into the into the mountain so fascinating history here And this project just got lost, really. I think when some of the bigger lead zinc silver deposits were discovered, like Sala and just big deposits that are really zinc deposits that Oleden's mining. Pretty substantial size, like 800 million ounces of silver, 200 million ounces of silver on a zinc mine.

16:47we thought well we've got similar geology here at silver grooving looks to me like more of a replacement style deposit not a lot of drilling in fact very little drilling mostly pits and test pits and hand working on some of these mine showings so another thing that I find quite interesting about this area there's not a lot of competition so you don't see a plethora of junior mining companies here. We've got lots of playground to expand, and the guys are out there sampling right now, and I've been pulling some pretty impressive-looking massive sulfide from new showings, actually, that wasn't even known here when we did the deal on the project.

17:34So we're hoping to get drilling on this project. I don't know if we'll get to it this winter, but certainly by spring at the latest. We'll know where to drill and be putting some holes into it. So I think big upside potential, new discovery on a property that was worked in the 1600s, pulled some high-grade silver. That's really the name of the game here is kind of put it on the map. It's a good place to work. It's easy to get around, road access, relatively low-cost drilling too. I don't know if it's quite as low as Langus, but pretty darn close. So it ticks a lot of boxes, high-grade, easy access.

18:12And we've got a partnership with the McKnight's there to do most of the work until we're ready to sort of, you know, start building our team there. But so we don't have to do a lot other than, you know, cover costs and relatively low entry costs to acquire the thing.

18:31Gary Thompson: Yeah, I think in total, I mean, obviously there's some deliverables through the next few years, but one and a half million dollars in share issuance and then$3.3 million in exploration expenditures. over the next few years as it's all said and done. So, you know, not anything you guys can't take care of. I mean, in the first year, it sounds like pretty, you know, small peanuts,$300 ,000 of exploration work. I mean, that's like a week's worth anymore, given where everything's at. But, you know, yeah, I mean, so do you expect to, should we expect to see more news here out of Sweden? Yeah, I think so.

19:08You know, for sure. I know they've been out busy collecting new samples and they've got some nice high-grade looking samples, massive sulfide stuff. So we'll see what those come back in actual assays. But we are doing some drone mag and basically getting some mapping, getting the targets ready to drill

19:28Gary Thompson: is really going to be the next step for us to start turning the drill on these targets. I think that 300 grand, which is already out the door, is going to go towards getting drill targets identified. so that's really the next step for us that next million dollar probably a couple million dollar commitment will go to to drilling holes and our guess is we're probably in that sort of 200 dollars a meter all-in cost um so we're a little bit more than langus which we're in that 170 range but pretty darn close still get pretty good bang for your buck um and so you know yeah i have high expectations high hopes and we'll see what the old truth machine tells us on the drill bit But that'll be the determining factor, how long we're there.

20:13But, you know, so far so good. And, yeah, just trying to diversify ultimately. I think it's, and, you know, trying to find, as probably people that are in the silver space, trying to find good silver projects are difficult. They're far and few between. So you can get one that's showing promise of higher grade. I'd get at it. Yeah, all right. All right.

20:37Gary Thompson: Lengthy conversation. Lots of news to kind of get your commentary from here, Gary. So it was a very active last few weeks. It's going to be a very active winter. A lot of news coming down the pipeline from all sorts of projects in Canada and Sweden. I look forward to covering, giving you more coverage with those stories as they come hit the tape. Again, Brixton Metals trades on the Venture Exchange with BBB. And Gary, I think in about a month's time, you and I will be doing this in person. So look forward to that. Yeah, we'll see you out there. Yep. All right. All right. Thanks, Trevor. Thank you.

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