Brigus Reports Assay Results of 21 gpt over 25 metres at New High-Grade Gold Zone at Black Fox Complex
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 assays
over significant widths. The most recent results confirm a new gold
zone, running north south and located approximately 150 metres to the
east and running parallel to the Contact Zone. This gold discovery has
been named the 147 Zone.
Photos of visible gold in hole GF11-176. (Photo: Business Wire)
Highlights from drilling completed at the 147 Zone target during
February and March 2011 include (all uncut, average gold grades):
147 Zone
- GF11-152:
- 7.98 gpt over core length 23.00 m
- Including 15.11 gpt over core length 5.00 m
- Including 20.93 gpt over core length 3.00 m
- 3.26 gpt over core length 10.15 m
- 7.98 gpt over core length 23.00 m
- GF11-168:
- 7.20 gpt over core length 9.15 m
- 2.32 gpt over core length 10.00 m
- GF11-169:
- 5.22 gpt over core length 15.50 m
- Including 14.96 gpt over core length 4.50 m
- 5.22 gpt over core length 15.50 m
- GF11-176:
- 20.99 gpt over core length 25.00 m
- Including 30.67 gpt over core length 13.80 m
- Including 9.56 gpt over core length 3.65 m
- 20.99 gpt over core length 25.00 m
Several occurrences of visible gold have been intersected in the holes
reported above (see attached photos).
The 147 Zone was previously referred to as the 'Hanging Wall? of the
Contact Zone. The name, 147 Zone, is in reference to the first drill
hole confirming the potential of the discovery, as reported on February
25, 2011. Given the significance of these results, all four drill rigs
currently operating at the Black Fox Complex are now active on the 147
Zone and a fifth rig will be added to the property in early May.
'These impressive results confirm that the 147 Zone is a new high-grade
gold discovery for the Company,? said Wade K. Dawe, Chief Executive
Officer and President of Brigus. 'We are now focusing exploration
drilling efforts in this area and look forward to receiving additional
assay results as drilling progresses.?
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.
'Wide drill intercepts with positive gold assay results have been
intersected over a strike length of 250 m in six holes,? said Howard
Bird, Vice President Exploration Brigus. 'Visible gold has been
intersected in several of the holes reported here. The zone remains open
to the north, east and at depth. Expanded drilling of the 147 Zone is
now a key focus for Brigus as we continue to delineate this new
discovery.?
Previously reported drill hole GF11-147 returned 9.04 gpt over core
length 18.00 m, including 19.27 gpt over core length of 7.00 m and 3.10
gpt over core length of 9.70 m, including 5.32 gpt over core length of
3.00 m. Hole GF11-152 was drilled approximately 50 m to the south of
discovery hole GF11-147, GF11-168 was drilled 25 m parallel and
underneath hole GF11-147, hole GF11-169 was drilled approximately 120 m
north of hole GF11-147 and hole GF11-176 was drilled approximately 30 m
north of hole GF11-147. Mineralization in the 147 Zone occurs mainly
within multiple quartz and carbonate healed brecciated zones within
bleached units of variolitic mafic volcanics.
A drill-hole location map and photographs of visible gold mineralization
from hole GF11-176 are included in this news release. The drill-hole
location map, photographs and assay results over 2.0 gpt gold are posted
on the Company′s website at www.brigusgold.com.
Surface drilling was conducted by Norex Drilling and was supervised by
the Black Fox exploration staff. 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 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, as
well as the Black Fox Mill, 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. 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.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6698733&lang=en
Brigus Gold Corp.
Jennifer Nicholson, CA
Vice President
Investor Relations
Phone: 902-422-1421
Email: jnicholson@brigusgold.com
or
Wendy
Yang, Vice President
Phone: 303-524-3203
E-mail: ir@brigusgold.com