Brigus Continues to Intersect High Grade Gold at the 147 Gold Zone at the Black Fox Complex
July 28 2011 - 7:00AM
Business Wire
Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex:
BRD) (TSX: BRD) is pleased to announce continued excellent
results within the 147 Zone including 20.11 grams per tonne (“gpt”)
over 16.00 metres (“m”) which includes 34.06 gpt over 5.00 m.
“This is one of the best intercepts within the 147 Zone thus
far,” said Howard Bird, VP of Exploration for Brigus Gold. “This
new discovery continues to deliver high grade gold over significant
widths.”
The 147 Zone remains open in all directions and at depth.
Additional highlights from continued drilling include (all uncut,
average gold grades over core length):
147 Zone
- GF11-199:
- GF11-201:
- 8.81 gpt over 4.00 m; and
- 2.99 gpt over 24.00 m;
- including 5.37 gpt over 12.00
m
- GF11-207:
- 2.51 gpt over 9.95 m; and
- 3.84 gpt over 25.50 m;
- including 14.38 gpt over 5.00
m
- GF11-244:
- 20.11 gpt over 16.00 m;
- including 34.06 gpt over 5.00
m
- including 19.93 gpt over 7.00
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.
Drilling at the 147 Zone is progressing as planned with three
drill rigs. The fourth and fifth drill rigs are in-fill drilling
and testing the down-dip continuity of the Contact Main Zone
located approximately 400 m to the north of the 147 Zone. A sixth
drill rig has been contracted to commence drilling the second week
of August and will test known gold bearing structures, as well as
new potential gold bearing targets defined from the recent induced
polarization and magnetic geophysical surveys within the Black Fox
Complex.
The 147 Zone drill holes are listed in Appendix 1 and a
drill-hole location map is included in Appendix 2. All 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
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 Complex in the Timmins gold district of
Ontario, Canada. The Black Fox Complex encompasses the Black Fox
Mine and Mill, and adjoining Grey Fox-Pike River property, all in
the Township of Matheson, Ontario, Canada. Brigus is also advancing
its Goldfields Project located near Uranium City, Saskatchewan,
Canada, which hosts the Box and Athona gold deposits. In Mexico,
Brigus has a letter of intent to sell 75% of its Ixhuatan
silver-gold projected located in the state of Chiapas. In the
Dominican Republic, Brigus has a letter of intent to sell its
remaining interests in three mineral exploration projects.
Cautionary and Forward-Looking
Statements
Statements contained in this news release that are not
historical facts are forward-looking statements that involve risk,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. All statements regarding the ability of
the Company to achieve targeted gold production at its Black Fox
Mine, including underground production, and cash costs, mill
expansion results, meet capital construction schedules and costs,
and the continuation of a rising gold price are forward-looking
statements and estimates that involve various risks and
uncertainties. This forward-looking information includes, or may be
based upon, estimates, forecasts, and statements as to management's
expectations with respect to, among other things, the issue of
permits, the size and quality of the company's mineral resources,
progress in development of mineral properties, future production
and sales volumes, capital and mine production costs, demand and
market outlook for metals, future metal prices and treatment and
refining charges, and the financial results of the Company.
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 most recent Annual Information Form
and Management Discussion and Analysis filed under the Company’s
name at www.sedar.com and annual report on Form 40-F filed with the
United States Securities and Exchange Commission at www.sec.gov as
well as elsewhere in Brigus’ documents filed from time to time with
the Toronto Stock Exchange, the NYSE Amex Equities, 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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