Brigus Reports Additional High-Grade Gold Assays from the 147 Zone
January 11 2012 - 7:00AM
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 147 Zone.
The following table includes highlights from the drill holes
reported today from the 147 Zone (all uncut, average gold grades
over core length widths):
Hole Number Core Width
Gold Assay
(m) (gpt) GF11-239
5.35 13.72 including 1.00
45.53 5.00
3.15
GF11-249 3.59
5.14 including 0.50 13.92
18.00 11.89 including
3.00 3.36 and 6.00
33.57 and 3.00
63.54
GF11-253 12.00 5.39
including 0.55 46.49
GF11-263 10.00 8.75
including 1.00 18.10 and
5.00 13.12
GF11-266
11.00 3.52 including 4.00
7.29
GF11-280 39.40
4.41 including 1.00
10.22 and 16.65
6.55 and 6.00 11.78 and
8.00 5.73
“We are very pleased to receive additional high grade drill
results over thick intervals,” said Howard Bird, Brigus’ Vice
President of Exploration. “These excellent results expand the 147
Zone and will positively impact the size of the current gold
resource."
The independent initial NI 43-101 resource estimate for the 147
and Contact zones, as released in December 2011, added more than 50
percent to the gold resource at the Black Fox Complex. The ongoing
drill program continues to successfully increase the size of the
gold resource through step-out drilling and is also designed to
convert Inferred ounces to Indicated ounces through systematic
in-fill drilling. An updated resource estimate will be released
mid-year 2012.
The 147 and Contact zones provide Brigus with near term
production growth opportunities because of their proximity to the
Black Fox mine infrastructure.
Brigus is continuing its exploration program in 2012 through an
$8.0 million surface exploration program focused on expanding the
147 and Contact zones as well as other high potential zones on the
Black Fox Complex. Currently, there are four drill rigs in
operation on the property.
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.
Details of the most recent 147 Zone drill holes and the 147 Zone
drill-hole location map can be found 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 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 and Forward-Looking Statements
Statements in this news release, which 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 Company's ability to successfully
expand the Black Fox Complex gold resource, add to Black Fox
resources, advance new discoveries to production, convert resource
estimates into near-term production, release of an updated mineral
resource estimate in 2012 and the Black Fox underground mine
exploration drilling program 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 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 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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