Brigus Continues to Expand New 147 Gold Zone at Black Fox Complex
June 01 2011 - 9:57PM
Business Wire
Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex:
BRD) (TSX: BRD) is pleased to report very good gold assays
over significant widths within the new 147 gold zone (147 Zone).
The 147 Zone trends in a north-south direction and is located
approximately 150 metres to the east running parallel to the gold
mineralized Contact Zone.
Highlights from continued drilling at the 147 Zone target
include (all uncut, average gold grades over core length):
147 Zone
- GF11-173:
- 1.01 gpt over 50.95 m
- including 8.29 gpt over 3.25
m
- GF11-177:
- 4.40 gpt over 29.40 m
- including 6.80 gpt over 16.30
m
- GF11-181:
- 2.68 gpt over 41.00 m
- including 3.53 gpt over 24.00 m;
and
- including 4.46 gpt over 10.00
m
- GF11-184:
- 1.08 gpt over 78.00 m
- including 2.65 gpt over 9.50
m
- GF11-185:
- 3.36 gpt over 73.58 m
- including 6.20 gpt over 7.00 m;
and
- including 5.69 gpt over 3.00 m;
and
- including 11.12 gpt over 13.00
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.
“The recently discovered 147 Zone continues to return long gold
intercepts with excellent grades,” said Howard Bird, Vice President
Exploration Brigus. “We are encouraged by these continued positive
results and plan to develop a resource statement on this new Zone
by the fourth quarter of this year. Drilling with five drill rigs
is focused on defining the boundaries of the Zone which remains
open to the north, east and at depth.”
The location of the most recent drill hole results in relation
to the 147 Zone discovery drill hole, GF11-147, that returned 5.25
gpt gold over 37.70 m, including 3.11 gpt over 9.70 m, and
including 9.04 gpt over 18.00 m, are as follows: GF11-173 was
drilled approximately 80 m north of hole GF11-147, hole GF11-177
was drilled approximately 40 m south of hole GF11-147 and
approximately 12.5 m north of hole GF11-152 which returned 3.66 gpt
over 66.85 m, including 8.34 gpt over 22.00 m, hole GF11-184 was
drilled approximately 28 m northeast of hole GF11-147, while hole
GF11-185 was drilled approximately 28 m southeast of hole GF11-147.
Mineralization in the 147 Zone occurs primarily within multiple
quartz and carbonate healed brecciated zones within bleached units
of mafic volcanics.
During January and February 2011 Brigus drill tested the Contact
Zone trend to the south (“Contact South”) of the previously drilled
“Contact Main Zone” area. The drilling returned lower interest gold
assay results; however, the Contact Main Zone remains open to the
north and down dip. Brigus will re-commence drilling the Contact
Main Zone in mid-June to progress towards completing a resource
statement.
The 147 Zone and Contact Zone South drill holes and a drill-hole
location map are both 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, standards and
duplicates 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 which is
subject to a letter of intent with Cangold. In the Dominican
Republic, Brigus has a joint venture covering three mineral
exploration projects which is subject to a letter of intent with
Everton Resources.
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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