Positive Exploration Drilling Results Continue at Brigus Gold′s Black Fox Complex
Brigus Gold Corp. ('Brigus? or the 'Company?) (NYSE Amex: BRD) (TSX:
BRD) has received all assay results from 14 drill holes and partial
assay results from an additional three drill holes as part of an ongoing
exploration program at the Company′s 100% owned Black Fox Complex
located in the Timmins Mining District, Ontario. The current exploration
program is designed to expand the Black Fox Complex gold resource by
systematically drilling mineralized structures.
Highlights from recent assay results include (all uncut, average gold
grades with estimated true widths, unless otherwise noted):
Contact Zone | ||||||
| GF10-106: | |||||
| 8.40 grams of gold per tonne ('gpt?) over 3.99 metres ('m?), and | |||||
| 3.08 gpt over 4.23 m | |||||
| GF10-114: | |||||
| 12.10 gpt over 12.27 m | |||||
| including 168.65 gpt over 0.81 m | |||||
| GF10-125: | |||||
| 3.26 gpt over 15.21 m | |||||
| including 5.28 gpt over 3.03 m | |||||
| including 7.19 gpt over 3.75 m | |||||
New Discovery - Grey Fox South | ||||||
| GF10-115: | |||||
| 10.65 gpt over a core length of 6.0 m | |||||
| including 23.32 gpt over a core length of 1.0 m | |||||
| including 16.12 gpt over a core length of 1.0 m | |||||
| including 18.84 gpt over a core length of 1.0 m | |||||
The exploration program is following up on historical data and drill
results while also testing new targets within the Black Fox Complex.
Three drill rigs are testing high potential gold targets at the Black
Fox Complex including: the Contact Zone, the Historic Gibson Deposit,
the Gibson Shear, the School House Zone, the Hislop North Zone and the
new Grey Fox South target recently identified from the positive results
from drill hole GF10-115. All targets are located within four kilometres
('km?) of the Company′s operating Black Fox Mine, providing the
opportunity for Black Fox resource additions and rapid advancement. In
addition, during the first quarter of 2011, Brigus will commence
drilling on the Black Fox Mill property, host to the past producing
Stock gold mine, located 31 km west of the Black Fox Mine.
Howard Bird, P. Geo., Vice President of Exploration for Brigus, said,
'The Black Fox Complex drill program continues to confirm continuity of
gold mineralization from multiple drill holes within the Contact Zone.
The discovery of high grade gold mineralization in the new Grey Fox
South target, from hole GF10-115 which returned 10.65 gpt over a core
length of 6.0 metres, is very encouraging and will be followed up with
additional drilling.?
Contact Zone
The Contact Zone consists of a steeply dipping mineralized fault contact
between the north-south trending metasediments and mafic volcanic rocks,
and two other parallel mineralized zones. The Contact Zone extends for
at least 1,200 m and is open along strike and at depth. The general dip
of the feature is 78 degrees to the east with horizontal widths varying
from 3.5 m to 35 m.
GF10-106 displayed some visible gold and intersected 8.40 gpt gold over
a true width of 3.99 m at 160 vertical m from surface and 3.08 gpt of
gold over a true width of 4.23 m at 240 vertical m from surface. The
results from GF10-106 have expanded the gold mineralization from the
assay results of GF09-45, drilled in 2009 on the same vertical section,
which returned 6.07 gpt gold over a true width of 2.95m at approximately
130 vertical m from surface.
GF10-114 intersected 12.10 gpt gold over a true width of 12.27 m,
including 168.65 gpt gold over a true width of 0.81 m with visible gold
in the sample. The positive gold intersection is significant as it is
located approximately 200 m along strike to the south from the main
Contact Zone area. There are 27 assay samples pending from GF10-114.
Hole GF10-125 displayed some visible gold and intercepted 3.26 gpt gold
over a true width of 15.21 m beginning at 85 vertical m from surface,
including 5.28 gpt gold over a true width of 3.03 m, and 7.19 gpt gold
over a true width of 3.75 m. There are still 147 sample assays pending
from GF10-125. Hole GF10-103, drilled on vertical section with GF10-125,
intersected 3.03 gpt gold over a true width of 2.83 m at 105 vertical m
from surface, and 3.20 gpt gold over a true width of 2.37 m at 225
vertical m from surface.
Assay results over 2.0 gpt gold are listed in a table in Appendix 1 of
this news release posted on the Company′s website at www.brigusgold.com.
An additional six drill holes have been completed on the Contact Zone
and assays are pending.
Exploration Outlook
Commenting on the exploration potential at the Black Fox Complex, Mr.
Bird said, 'Over the next two years, our exploration team will focus on
adding significant ounces to the gold mineral resources at the Black Fox
Complex. In addition to surface drilling, we also plan to target
resource additions from underground drill stations at the Black Fox
Mine. Underground drilling will initially target gold mineralization to
the southeast of the last underground drill station to follow up on
positive results from previous drilling in 2004 and 2005 where three
drill holes returned true width gold intersections of 31.16 gpt over
6.25 m, 7.48 gpt over 3.49 m and 12.65 gpt over 3.07 m.?
Surface drilling was conducted by Norex Drilling and was supervised by
the Black Fox exploration staff. All 2010 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 and standards 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 Gold
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 holds a 100 percent interest in the Ixhuatan Project
located in the state of Chiapas, and a 3% Net Smelter Royalty in the
Huizopa exploration project located in the State of Chihuahua. In the
Dominican Republic, Brigus has a joint venture covering 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.
Brigus Gold Corp.
Wendy Yang, Vice President of Investor Relations
Phone:
303-524-3203
E-mail: ir@brigusgold.com