Brigus Gold Corp. (“Brigus Gold” or the “Company”) (TSX:
BRD)(NYSE Amex: BRD) has expanded its planned exploration drill
program at the Black Fox Complex in the Timmins Gold District,
Ontario to include a minimum of 15,000 metres (“m”) of surface
drilling. The Black Fox Complex comprises the Black Fox Mine and
Mill, and the Grey Fox-Pike River property, adjoining the mine and
along strike of the Black Fox gold deposit.
Surface Drilling Program
Approximately 5,000 m of drilling will be focused on step-out
drilling which is intended to expand the Black Fox gold deposit
along strike and down-dip. The Black Fox area drill program will
also offset the 2004 high-grade gold result in surface drill hole
#04BF-389, which returned 20.9 grams of gold per tonne (“g/t”) over
a true width of 4.98 m located near the Destor-Porcupine Fault Zone
(“DPFZ”) and the cross-cutting Base Metal Zone (“BMZ”) mineralized
structure.
An additional 10,000 m of drilling will be focused in and around
the Contact Zone within the Grey-Fox Pike River property, including
four exploration targets. There are currently two core drill rigs
operating at the Contact Zone. Other targets, located within a two
kilometre (“km”) area of the Contact Zone, that will be targeted
with this program included the Historic Gibson Deposit,
Gibson-Fault Zone, School House Zone and Hislop North Zone. To
date, the Company has completed 27 holes totalling 11,440 m
targeting the Contact Zone and first phase drilling on the Gibson
Deposit, Gibson-Fault Zone, School House Zone and Hislop North
Zone. Assay results are pending for most of these holes.
Brigus Gold plans to add a third core drill rig in the first
week of September which is intended to further delineate the
mineralization trend of the Black Fox deposit with a fourth core
drill rig being added in approximately six weeks.
Underground Drilling Program
Brigus Gold also plans to extend the underground 235 m level
drift to target resource additions from underground drill stations
at Black Fox. Underground drilling will initially target
mineralization to the southeast following up on positive results
from previous drilling in 2004 and 2005. The 235 m level drift,
which is currently approximately one km in length, will be
initially advanced 200 m to facilitate fan-pattern drilling at 12.5
m centers. In the previous underground drill program, completed in
2004 and 2005, the last southeast drill station, located at the end
of the drift, returned significant gold grades at depth and over
attractive widths from underground fan drilling holes #235-296 and
#235-295, as well from surface drill hole #04BF364. Highlights of
the three drill holes are shown below:
Hole # From To
Interval True Width
Gold Grade metres
metres metres
metres grams/tonne 235-296
288.6 295.4 6.8
6.25 31.16 235-295
278.8 282.4 3.6
3.49 7.48 and
278.7 288.6 0.9
0.87 2.59 04BF364
500.4 503.8 3.4
3.07 12.65
The Black Fox Mine and Grey Fox-Pike River properties cover 17
square km and extend 6.5 km along the strike and at depth of the
well-known Destor-Porcupine Fault Zone (“DPFZ”), which hosts the
Black Fox deposit and several other gold deposits in the Timmins
Gold District.
Howard Bird, Vice President of Exploration for Brigus Gold,
said, “There is exciting potential for further gold discoveries and
additions to gold resources at our wholly owned Black Fox Complex.
We believe there is potential for further gold mineral discoveries
to augment the mine life at Black Fox and, for that reason, we have
significantly expanded our drill program with plans to have four
surface rigs operating at year end and continuing into 2011.
Brigus Gold is focusing on identifying new gold targets with an
in-house reinterpretation of the geological characteristics of the
property area using the latest methods and techniques. A
high-resolution magnetic airborne geophysical survey will be
conducted over all of the properties and the Grey Fox-Pike River
property will also be surveyed using the advanced Quantec Titan 24
(“Titan”) geophysical system. The Titan Induced Polarization and
Resistivity survey system defines high-resolution results to depths
of approximately 700 m, which are unachievable with conventional
geophysics or airborne geophysics. The system detects conductive
mineralization, disseminated mineralization, alteration, structure
and geology resulting in the identification of prospective drill
targets. The Titan survey was completed over the Black Fox Mine in
2004 and successfully defined the mine deposit and was instrumental
in the discovery on the base metal zone. The airborne and Titan
surveys are expected to commence in mid-September 2010.
During Q-4 2010, Brigus Gold expects to announce an initial
National Instrument 43-101-compliant estimate of resources of gold
for the Contact Zone, based on limited drilling of 65 core holes
completed in 2009 and 2008. The Company is using the latest drill
results to confirm and update the geological interpretation in the
resource estimate. Most of the 2009 and 2008 drilling was
relatively shallow, concentrated within 120 m of bedrock. The
deepest Grey Fox drill hole # GF09-58 intersected the main
mineralized Contact Zone lens at 222 m below surface and graded a
weighted average of 10.58 g/t over a true horizontal width of 3.7
m. Drilling is continuing at the Contact Zone which remains open
along strike and down-dip.
Management Change Announcement
The Company also announces that Richard F. Nanna, Senior Vice
President of Exploration, and a co-founder of the predecessor
companies of Brigus Gold, will be leaving the company, effective
September 30, 2010. Chairman, President and Chief Executive Officer
Wade K. Dawe, said, “We thank Dick Nanna for his contributions to
the Company, especially in having the geologist’s foresight to
identify the Black Fox Complex in the early days. We wish Dick the
very best for the future.”
The Qualified Person who reviewed the technical exploration
information in this news release is Senior Exploration Project
Manager John A. Dixon.
About Brigus
Gold
Brigus Gold 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 in the Timmins Gold District of
Ontario, Canada. The Black Fox Complex encompasses the Black Fox
Mine and Mill, and the Grey Fox-Pike River property, adjoining the
mine. All these properties are located in the Township of Black
River-Matheson, Ontario, Canada. Brigus Gold 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 Property located
in the state of Chiapas, and an 80 percent interest in the Huizopa
Joint Venture, an early stage, gold-silver exploration joint
venture located in the State of Chihuahua. In the Dominican
Republic, Brigus Gold and Everton Resources have a joint venture
for the APV and Loma El Mate gold 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 expansion of
the Company’s surface and underground exploration drilling programs
for 2010 and 2011, the amount of surface drilling, the addition of
drill rigs operating at Black Fox Complex and the timing associated
therewith, ability of the Company to extend the underground drift
at the 235 m level and timing associated therewith, increase of
Black Fox resources, matters relating to the geophysical survey of
the Black Fox Complex and the timing thereof, release date of a
National Instrument 43-101-compliant estimate for the Contact Zone,
and additions to resources in 2011 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 Apollo’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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