Company led by Robert Friedland to invest $44.5M in copper-silver-gold project in Montana

(Kitco News) - Brixton Metals (TSX: BBB, OTCQB: BBBXF) announced today the signing of a USD$44.5 million definitive earn-in agreement with a wholly-owned Montana subsidiary of High Power Exploration (“HPX”), a privately-owned mineral exploration and development company led by Chairman and CEO, Robert Friedland.

The company said that the subject of the agreement is the Hog Heaven project, which is a high sulphidation epithermal silver-gold-copper-lead-zinc deposit with historical production located in the state of Montana, USA.

According to the company’s statement, HPX has the right to earn a 51% interest in the Hog Heaven project by making a total of $4.5 million in cash payments and incurring $15 million in exploration expenditures. Further, HPX may earn an additional 24% interest (for a total of a 75% interest) in the Hog Heaven project by incurring an additional $25 million in exploration expenditures.