- 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.