They Just Hit Almost Pure Silver in Canada’s Forgotten Silver Capital | DD-on-the-GO Brixton Metals
The Deep Dive Oct 8, 2026 14:59
Summary
Brixton Metals is drilling extraordinarily high-grade native silver at the historic Langis Mine in Cobalt, Ontario, including over 5,000 g/t silver across 20 metres.
The best intercept came from ground with no old shafts or historic mining, showing the century-old camp still holds undiscovered veins.
Record silver prices, modern exploration technology, and Ontario's new tailings reprocessing rules are together reviving Cobalt's camp economics.
Brixton is drilling the Langis tailings pile toward a maiden resource estimate that could generate early cash flow before any new shaft.
The company also owns Thorn, a large copper-gold project in British Columbia that has attracted partners like BHP and Ivanhoe Electric.
Key points on Agnico Eagle Mines
- The video notes Cobalt, Ontario is the birthplace of Agnico Eagle, which the host describes as one of the top three biggest gold miners in the world.
Key points on Newmont
- Gary Thompson says he cut his teeth at some of the biggest names in the business, including Newmont, early in his exploration career.
Key points on Novagold Resources
- The video mentions Novagold as one of the major companies where Gary Thompson gained experience before founding Brixton Metals.
Steve Hyland's takeaways
- Top takeaway Host Steve Hyland frames the Cobalt thesis around three reversing factors — silver prices near record highs (around $120/oz in early 2026), better exploration technology, and Ontario's new tailings reprocessing rules — arguing the camp's math might work again for the first time in a century.
- Hyland remains measured on Brixton specifically, saying junior mining is a lottery ticket and whether Brixton is one of the winners is still an open question.
Gary Thompson's takeaways
- Top takeaway Gary Thompson's goal for the Langis tailings program is to turn the historic waste pile into cash flow that would help leapfrog Brixton into another mine at Cobalt, testing how much silver remains after an estimated 350,000 tons mined at about 25 ounces per ton.
- Thompson describes the exceptional native silver finds at Langis — rock so dense with silver its weight was noticeable, revealing a dendritic pattern when cut — with early holes returning more than 18 metres of 3,600 g/t silver.
- He argues Ontario's policy shift is a major catalyst, noting the province was long almost completely negative on processing tailings and muck piles, and the new framework makes such work advantageous for the first time.
- Thompson views junior mining as a lottery ticket that can turn rags to riches, where a single drill hole can take a company from nothing to a $500 million takeout.
- His background shapes the approach: a Cobalt local who graduated from the Haileybury School of Mines in 1985 with family silver mining roots, over 25 years in exploration including stints at Newmont and Novagold, before founding Brixton Metals around 2009.