HALIFAX, Nova Scotia--(BUSINESS WIRE)--Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) reports that results from its ongoing drilling program at the 147 Zone on its Grey Fox property in the Gold District of Timmins, Ontario, Canada, include high grade intercepts of 14 grams per tonne over 35 metres and 4.7 grams over 29 metres.
Brigus Senior Vice President Exploration Howard Bird said, “These impressive drill hole intercepts are among the best returned from the 147 Zone. These results extend the ore body to a true vertical depth of 300 metres below surface and most importantly the zone remains open for further expansion.”
Highlights from the 147 Zone drill holes reported today (all assays capped at 100 gpt gold, average gold grades over core length widths) include:
| Hole Number | From (m) | To (m) | Core Length (m) | Gold Assay (gpt) | Grams X Width | |||||
| GF12-485 | 186.50 | 190.30 | 3.80 | 5.00 | 19 | |||||
| 226.00 | 261.00 | 35.00 | 3.79 | 133 | ||||||
| including | 249.30 | 261.00 | 11.70 | 6.98 | 82 | |||||
| GF12-491 | 196.00 | 244.00 | 48.00 | 3.37 | 162 | |||||
| GF12-506 | 186.00 | 224.00 | 38.00 | 2.40 | 91 | |||||
| including | 189.80 | 195.00 | 5.20 | 6.83 | 36 | |||||
| GF12-587 | 246.00 | 267.00 | 21.00 | 6.00 | 126 | |||||
| including | 258.00 | 265.00 | 7.00 | 11.62 | 81 | |||||
| GF12-626 | 203.00 | 270.20 | 67.20 | 3.40 | 228 | |||||
| 300.90 | 320.00 | 19.10 | 1.26 | 24 | ||||||
| 328.00 | 357.40 | 29.40 | 4.68 | 138 | ||||||
| including | 330.00 | 332.00 | 2.00 | 13.73 | 27 | |||||
| including | 350.00 | 357.40 | 7.40 | 11.31 | 84 | |||||
| GF12-646 | 201.40 | 204.40 | 3.00 | 7.89 | 24 | |||||
| 343.00 | 378.00 | 35.00 | 13.97 | 489 | ||||||
| including | 367.00 | 375.00 | 8.00 | 47.28 | 378 | |||||
| 384.00 | 404.80 | 20.80 | 1.58 | 33 | ||||||
| including | 402.00 | 404.80 | 2.80 | 6.66 | 19 |
These drill holes will add to the September 2012 resource estimate of 480,850 Indicated ounces and 91,061 Inferred ounces for the 147 and Contact zones. Approximately 84 percent of the drill data used to compile the September 2012 resource estimate was within 200m of surface demonstrating excellent open pit mining potential.
In 2013 Brigus will extend and expand both the 147 and Contact zones through systematic drilling below the 200m level and along strike. Bird said, “Today’s results further demonstrate the excellent potential for significant resource additions.”
The 147, Contact and Grey Fox South zones are located on the Company’s Grey Fox property on the southern portion of the Black Fox Complex. Planning is underway to develop this property into the Company’s next mine. A full feasibility study on the Grey Fox property will be released during the second half of 2013. Brigus plans to commence production in early 2015.
To view lists details of the most recent 147 Zone drill holes, the 147 Zone drill-hole location map and three-dimensional models of the gold results, please visit the company’s website at www.brigusgold.com.
Norex Drilling conducted surface drilling, supervised by the Brigus exploration team. All sample analyses reported here were performed using standard fire assay procedures by Polymet Labs of Cobalt, Ontario, which is ISO 9001:2000 certified in North America. 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 Gold
Brigus is a growing Canadian 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, the new Grey Fox property and adjoining properties in the Township of Black River-Matheson, Ontario, Canada. The Black Fox mine is in production and the Grey Fox mine, located four kilometres from Black Fox is in development. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus owns the Ixhuatan Project 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 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. Source: Brigus Gold Corp.