Brixton Metals Corp. (TSX: V.BBB, Stock Forum) said Friday it has struck a deal with Kiska Metals Corp. (TSX: V.KSK, Stock Forum) to acquire 100% interest in the Thorn property in Northwestern British Columbia.
The site is located between the past-producing Golden Bear Mine and the Tulsequah Chief mine development about 130 kilometres south of Atlin.
In a news release, Brixton said it will acquire 100% interest in the Thorn Property through payments to Kiska of $1.5 million in cash. It will also issue 7 million common shares of Brixton.
Trading at 13.5 cents on Friday, down 3.6%, Brixton has a market cap of $9.4 million, based on 69.7 million shares outstanding. The 52-week range is 26 cents and 7.5 cents.