Brigus Reports Additional High-Grade Gold Assays
November 29 2011 - 7:45AM
Business Wire
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
high-grade gold assays from the Contact Zone (“Contact Zone”) as
well as an intersection of ore-grade gold mineralization, hole
GF11-337, in a new area of the Black Fox Complex.
Highlights from recent drilling at the Contact Zone include (all
uncut, average gold grades over core length widths):
Hole Number Core Width (m) Gold
Assay (gpt) GF11-238 11.32
3.54 including
3.00 7.15 and
1.00 7.75 GF11-241
4.55 2.91 3.20
10.65 1.80 18.29
7.50 7.19 GF11-243
6.00 2.95 including
3.00
5.23 GF11-265 2.00 36.45
including
1.00 69.19
16.00 4.25 including
3.00
12.21 GF11-259 12.00 3.31
including
4.00 5.85 and
3.00 4.02 GF11-261 2.30
20.55 GF11-264 0.50
46.36 8.20 4.53 including
3.00 8.60 GF11-316
14.00 1.87 72.90
1.77 including
18.00 3.54
The ore-grade gold mineralization discovered in Hole GF11-337
was the result of drill testing underneath a distinct linear
topographic low structure. This is the only hole that drill results
have been received on to date. Further drill testing in this area
will continue early in December. The mineralized intercept is
highly brecciated with abundant quartz veins and fine grained
pyrite hosted in mafic volcanics. This hole is located
approximately 200 metres (“m”) to the north of the Contact
Zone.
Hole Number Core Width (m) Gold
Assay (gpt) GF11-337 9.00
3.59 including
1.00 10.63 and
1.00 6.86
“We are encouraged by the ongoing positive drill results on the
southern portion of the Black Fox Complex. Both the 147 and Contact
Zones continue to return excellent gold assays,” said Howard Bird,
Brigus VP Exploration. “We are also excited about the discovery of
a potential new zone. Until now, there has only been limited
historical exploration drilling between the Contact Zone and the
Black Fox Mine. This four kilometre stretch has significant
exploration potential.”
The Black Fox Complex covers an area of approximately 18 square
kilometres within the Timmins Mining District, Ontario. The Contact
Zone consists of a steeply dipping gold mineralized fault contact
between the north-south trending metasediments and mafic volcanic
rocks, and other parallel hanging wall and footwall gold
mineralized zones. The general dip of the feature is 78 degrees to
the east. To date, Brigus has outlined an area of mineralization
approximately 400 m in strike length at the Contact Zone that
remains open along strike to the north and open at depth.
Twelve high-priority drill targets and 14 secondary targets have
been identified through a 2010 Titan 24 deep induced polarization
geophysical and magnetotelluric survey over the Black Fox Complex.
Only one of these targets has been drilled to date. Additional
drilling of these targets will be included as part of our
exploration program going forward.
Drilling at the Black Fox Complex is progressing as planned to
complete an initial NI 43-101 compliant resource estimate to be
released in December on the 147 Zone and the Contact Zone with five
drill rigs operating. Two drill rigs are infill drilling and
testing along strike and down-dip on the Contact Zone, two drill
rigs are expanding the 147 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.
Details of the most recent Contact Zone drill holes 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 Mine and Mill in the Timmins gold
district of Ontario, Canada. The Black Fox Complex encompasses the
Black Fox Mine and adjoining properties, all in the Township of
Black River - 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 entered a transaction to sell 75% of its Ixhuatan
silver-gold projected located in the state of Chiapas. In the
Dominican Republic, Brigus has signed an agreement 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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