Brixton Metals - Chairman and CEO, Gary Thompson.
Chairman and CEO, Gary Thompson.
Source: Brixton Metals.
  • Brixton Metals (BBB) has acquired the Trapper gold property in British Columbia from Kodiak Copper (KDK)
  • Brixton will acquire both the 3,765-hectare property and the associated royalties for C$100,000 in cash and 2,324,393 shares 
  • The company also purchased two connected royalties for $65,000 plus 113,924 shares 
  • With the acquisition now finalised, the company will add the property to its nearby Thorn project
  • Brixton Metals (BBB) is up 6.5 per cent and is trading at C$0.405 per share 

Brixton Metals (BBB) has acquired the Trapper gold property in British Columbia from Kodiak Copper (KDK).

Brixton will acquire both the 3,765-hectare property and the associated royalties, which have shown significant mineralization in past drilling work and cover one significant gold-in-soil anomaly.

Brixton will pay Kodiak Copper $100,000 in cash for the property and issue 2,324,393, worth approximately $941,000 at today’s shares price.

Alongside the acquisition, Brixton has also terminated a number of net smelter royalty payments hanging over the Trapper property.

Brixton will pay Constantine Metals $20,000 to purchase and cancel its first right of refusal on a 0.5 per cent net smelter fee and pay C.J Greig Holdings $45,000 and issue 113,924 shares for another net smelt fee.

Following these payments, the property is now unencumbered with royalty payments and will be incorporated into Brixton’s nearby Thorn project, a 2,299-hectare site where drilling work is currently underway.

Chairman and CEO of Brixton Metals, Gary Thompson said he was happy to have struck an agreement with Kodiak for the high-potential project.

“The Trapper claims are strategic to Brixton’s plan s for consolidating the Thorn mineral claim holdings.

“Currently the Thorn Project represents the largest contiguous mineral claim package in the Golden Triangle forming a mineralised mega-trend under one banner: Brixton Metals,” he said. 

Brixton Metals (BBB) is up 6.5 per cent and is trading at C$0.405 per share at 11:55 am EDT. 

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