Brigus Reports Assay Results of 7.78 gpt Over 22.1 Metres 147 Gold Zone on the Black Fox Complex Continues to Produce High Gr...
November 07 2011 - 5:06PM
Business Wire
Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD)
(TSX: BRD) is pleased to announce continued high-grade gold assays
from the 147 Zone. Recent drilling intersected 7.78 grams per tonne
(gpt) over 22.10 metres (m) in drill hole GF11-284 that included
21.40 gpt over 7.10 m at a vertical depth of approximately 280 m
below surface.
The 147 Zone is located on the southern portion of the Black Fox
Complex, approximately 400 m south of the gold bearing Contact
Zone, and four kilometres from the Company’s Black Fox Gold
Mine.
147 ZONE DRILLING HIGHLIGHTS (all uncut, average gold
grades over core length widths)
HoleNumber
Core Width Gold Assay
metres grams/tonne
GF11-213 7.00 7.90
including 4.00
13.50 GF11-229 7.00
5.39 GF11-230 13.23
6.02 including
1.00 21.63 including
6.00 8.87 and
6.00 6.14 GF11-235
11.00 6.64 including
6.00 10.30
GF11-244 16.00*
20.11* and 5.00
16.02 including 2.00
39.26 GF11-270 6.00
3.36 and 3.37
13.25 and 8.00
4.31 including
2.00 14.33 GF11-284
5.75 9.49 including
2.00 20.35 and
22.10 7.78
including 7.10
21.40
* Assay previously released
The Black Fox Complex covers an area of approximately 18 square
kilometres within the Timmins Mining District, Ontario. The core
area of the 147 Zone extends for approximately 250 m in a
north-south direction dipping at approximately 80 degrees to the
east. Gold mineralization primarily occurs within multiple quartz
carbonate brecciated zones within bleached units of variolitic
mafic volcanics and other parallel footwall zones. The 147 Zone now
extends to a vertical depth of 280 metres below surface and remains
open at depth.
Drilling at the Black Fox Complex is progressing as planned to
complete an initial NI 43-101 compliant resource estimate on the
147 Zone and the Contact Zone by mid December this year. There are
five drill rigs operating on these zones. Two drill rigs are
expanding the 147 Zone, two drill rigs are infill drilling and
testing along strike and down-dip on the Contact Zone, and one
drill rig is focused on testing other known gold bearing
structures, as well as, new potential gold bearing targets defined
from the recent induced polarization and magnetic geophysical
surveys.
In addition, hydrogeological studies and waste rock
characterization work commenced in September on the 147 and Contact
Zone area in order to facilitate a possible production decision on
the project early in 2012.
Details of the most recent 147 Zone drill holes are on the
Company’s website at www.brigusgold.com/mine.asp?p=36.
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 Mine and Mill in the Timmins Gold
District of Ontario, Canada. The Black Fox Complex encompasses the
Black Fox Mine and adjoining properties 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 has completed its transaction to sell a 75% interest in the
Ixhuatan Project located in the state of Chiapas to Cangold. In the
Dominican Republic, Brigus has signed an agreement to sell its
remaining interests in 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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