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 excellent gold assays over significant widths within the new 147 gold zone (“147 Zone”), including 3.96 grams per tonne (“gpt”) over 50.00 metres (“m”) that included 6.82 gpt over 20.00 m. In addition, bonanza grade gold mineralization of 2078.73 gpt over 2.00 m that included 4165.15 gpt over 1.00 m, and 61.78 gpt over 4.0 m that included 243.43 over 1.0 m was intersected in the footwall side of the 147 Zone.

Highlights from continued drilling at the 147 Zone target include (all uncut, average gold grades over core length):

147 Zone

  • GF11-182:
    • 0.92 gpt over 46.20 m;

      • including 2.23 gpt over 15.00 m

  • GF11-191:
    • 2078.73 gpt over 2.00 m;
      • including 4165.15 gpt over 1.00 m; and
    • 61.78 gpt over 4.00 m;
      • including 243.43 gpt over 1.00 m
  • GF11-192:
    • 3.59 gpt over 17.00 m;
      • including 5.42 gpt over 7.00 m; and
    • 3.34 gpt over 11.00 m;
      • including 5.60 gpt over 6.00 m
  • GF11-194:
    • 3.96 gpt over 50.00 m;
      • including 6.82 gpt over 20.00 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 147 Zone gold mineralization primarily occurs within multiple quartz and carbonate healed brecciated zones within bleached units of mafic volcanics.

“Continued excellent assays, now at 170 metres below surface, are very encouraging,” said Howard Bird, VP Exploration Brigus. “These results significantly expand the size of the 147 Zone.”

Drilling at the 147 Zone is progressing as planned with four drill rigs, and the Zone remains open in all directions. The fifth drill rig is currently testing a deep IP geophysical target, which sits below the gold mineralized Contact Zone.

The location of the most recent drill hole results in relation to the 147 Zone discovery drill hole are as follows: hole GF11-182 was collared approximately 85 m northeast of hole GF11-147, GF11-191 was collared approximately 75 m southeast of hole GF11-147, hole GF11-192 was collared approximately 135 m southeast of hole GF11-147, while hole GF11-194 was collared approximately 150 m southeast of hole GF11-147 and approximately 25 m east of hole GF11-192 reported in this release.

The 147 Zone drill holes and a picture of visible gold mineralization in hole GF11-191 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, 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.

Brigus Gold Corp Ordinary Shares (Canada) (AMEX:BRD)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Brigus Gold Corp Ordinary Shares (Canada) Charts.
Brigus Gold Corp Ordinary Shares (Canada) (AMEX:BRD)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Brigus Gold Corp Ordinary Shares (Canada) Charts.