Brigus Reports Assay Results of 10.84 gpt over 20.4 metres at New 147 Gold Zone at Black Fox Complex
May 16 2011 - 4:23PM
Business Wire
Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex:
BRD)(TSX: BRD) is pleased to announce that exploration drilling on
the southern portion of the Black Fox Complex continues to return
high-grade assays over significant widths within the new 147 Gold
Zone (“147 Zone”). The 147 Zone is a recent discovery running in a
north-south direction and is located approximately 150 metres to
the east running parallel to the Contact Zone.
Highlights from drilling completed at the 147 Zone include (all
uncut, average gold grades over core length):
147 Zone
- GF10-165:
- 1.46 gpt over 20.00 m; and
- 1.24 gpt over 14.00 m
- GF11-174:
- 1.32 gpt over 16.00 m;
- 10.82 gpt over 20.40 m; and
- 1.11 gpt over 9.75 m
- GF11-179:
- 3.26 gpt over 26.50 m
- including 11.51 gpt over 5.00 m;
and
- 5.54 gpt over 4.60 m
The Company has recalculated four previously reported drill hole
assay results from the 147 Zone over wider core widths. These
include (all uncut, average gold grades over core length):
- GF11-119:
- 1.12 gpt over 30.55 m
- including 2.63 g/t Au over 5.40
m
- GF11-147:
- 5.25 gpt over 37.70m
- including 3.11 gpt over 9.70 m;
and
- 9.04 gpt over 18.00 m
- GF11-152:
- 3.66 gpt over 66.85 m
- including 3.26 gpt over 10.15 m;
and
- 8.34 gpt over 22.00 m
- GF11-168:
- 2.90 gpt over 32.15 m
- including 7.15 gpt over 9.15
m
The 147 Zone is located on the southern portion of Brigus’
100%-owned Black Fox Complex, four kilometres from the Company’s
Black Fox gold mine. The Black Fox Complex covers an area of
approximately 18 square kilometres within the Timmins Mining
District, Ontario.
“We are very encouraged by these continued positive gold results
at the 147 Zone. Wide drill intercepts have intersected this zone
over a strike length of approximately 250 metres,” said Howard
Bird, Brigus’ Vice President Exploration. “Drilling with four drill
rigs is rapidly delineating the new gold discovery and the 147 Zone
remains open to the north, east and at depth. A fifth drill rig
will be added later this month. This zone’s close proximity to the
Company’s operating Black Fox Mine provides the opportunity for
rapid advancement.”
The approximate locations of the new drill hole results in
relation to the 147 Zone discovery drill hole, GF11-147, are as
follows: hole GF11-165 was drilled 25 m to the north, GF11-174 was
drilled 12.5 m to the south, and hole GF11-179 was drilled 70 m to
the northeast. Mineralization in the 147 Zone occurs mainly within
multiple quartz and carbonate healed brecciated zones within
bleached units of variolitic mafic volcanics.
The new drill holes as well as the restated gold assay results
as well as a drill-hole location map with highlight assay results
are posted on the Company’s website at www.brigusgold.com.
Surface drilling was conducted by Norex Drilling and was
supervised by the Brigus exploration team. All sample analyses
reported herein were performed by Polymet Labs of Cobalt, Ontario,
which is ISO 9001:2000 certified in North America using standard
fire assay procedures. Intercepts cited do not necessarily
represent true widths, unless otherwise noted. Brigus Gold’s
quality control checks include insertion of blanks and standards to
ensure laboratory accuracy. Senior Exploration Project Manager John
A. Dixon, P. Geo., reviewed the technical exploration information
in this release as the Qualified Person for the Company.
About Brigus Gold
Brigus is a growing gold producer committed to maximizing
shareholder value through a strategy of efficient production,
targeted exploration and select acquisitions. The company operates
the wholly owned Black Fox Mine and Mill in the Timmins Gold
District of Ontario, Canada. The Black Fox Complex encompasses the
Black Fox Mine and adjoining properties, as well as the Black Fox
Mill, in the Township of Black River-Matheson, Ontario, Canada.
Brigus is also advancing the Goldfields Project located near
Uranium City, Saskatchewan, Canada, which hosts the Box and Athona
gold deposits. In Mexico, Brigus Gold holds a 100 percent interest
in the Ixhuatan Project located in the state of Chiapas. In the
Dominican Republic, Brigus has a joint venture covering three
mineral exploration projects.
Cautionary Note to U.S. Investors Concerning Estimates of
Mineral Resources
This news release uses the term mineral “resources”. The Company
advises U.S. investors that while these terms are defined in and
required by Canadian regulations, these terms are not defined terms
under the U.S. Securities and Exchange Commission (“SEC”) Industry
Guide 7 and are generally not permitted to be used in reports and
registration statements filed with the SEC. The SEC generally only
permits issuers to report mineralization that does not constitute
SEC Industry Guide 7 compliant “reserves” as in-place tonnage and
grade without reference to unit measures. U.S. investors are
cautioned not to assume that any part or all of mineral deposits in
these categories will ever be converted into reserves.
Cautionary and Forward-Looking Statements
This news release includes “Forward-Looking Statements” within
the meaning of section 21E of the United States Securities Exchange
Act of 1934, as amended. All statements regarding the Company's
ability to successfully expand the Black Fox Complex gold resource,
add to Black Fox resources, advance new discoveries, and continue
to obtain positive down dip continuity of significant gold
mineralization are forward-looking statements and estimates that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from these forward-looking statements include
environmental risks and other factors disclosed under the heading
“Risk Factors” in Brigus Gold’s and its predecessor companies’ most
recent annual report on Form 10-K filed with the United States
Securities and Exchange Commission and elsewhere in Brigus Gold’s
documents filed from time to time with the Toronto Stock Exchange,
the NYSE Amex, the United States Securities and Exchange Commission
and other regulatory authorities. All forward-looking statements
included in this news release are based on information available to
the Company on the date hereof. The Company assumes no obligation
to update any forward-looking statements, except as required by
applicable securities laws.
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