Brigus Releases High-Grade Exploration Results
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?).
Highlights from drilling at the Contact Zone include (all uncut, average
gold grades over core length widths):
| Hole Number | ? | From | ? | To | ? | Core Width | ? | Gold Assay | |
? | (m) | (m) | (m) | grams/tonne | |||||
| GF11-343 | 98.50 | 112.80 | 14.30 | 1.66 | |||||
including | 101.00 | 103.80 | 2.80 | 4.99 | |||||
| GF11-355 | 345.00 | 392.66 | 47.66 | 1.73 | |||||
including | 345.00 | 348.00 | 3.00 | 5.55 | |||||
and | 353.00 | 357.00 | 4.00 | 2.88 | |||||
and | 371.00 | 373.00 | 2.00 | 6.58 | |||||
and | 383.00 | 385.00 | 2.00 | 9.33 | |||||
| GF11-376 | 427.00 | 429.60 | 2.60 | 4.03 | |||||
? | 487.10 | 501.00 | 13.90 | 5.71 | |||||
| GF11-377 | 98.50 | 104.00 | 5.50 | 5.03 | |||||
| GF12-498 | 288.00 | 300.00 | 12.00 | 7.38 | |||||
| including | 297.00 | 300.00 | 3.00 | 21.60 | |||||
| GF12-515 | 309.00 | 366.40 | 57.40 | 3.90 | |||||
including | 313.00 | 315.25 | 2.25 | 15.33 | |||||
and | 319.50 | 325.15 | 5.65 | 26.89 | |||||
? | 594.00 | 605.00 | 11.00 | 2.81 | |||||
| including | 595.00 | 597.00 | 2.00 | 8.57 | |||||
| GF12-547 | 249.00 | 255.15 | 6.15 | 5.34 | |||||
including | 251.00 | 252.00 | 1.00 | 11.97 |
The initial resource estimate for the Contact and 147 zones, released in
December 2011, added more than 50 percent to the gold resource at the
Black Fox Complex. Exploration and resource in-fill drilling is
progressing as planned with three drill rigs currently turning. An
updated resource estimate for the Contact and 147 zones will be released
later this year.
Brigus has also commenced a preliminary economic assessment (PEA) for
the 147 and Contact zones and is expected to release results during the
third quarter. These zones have the potential for robust economics and
near term production growth.
All drill hole data is 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, and SGS Laboratories of
Sudbury, Ontario, which are 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 has granted Cangold Limited the option to acquire a 75%
interest in the Company′s 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.
Brigus Gold Corp.
Jennifer Nicholson, CA, 902-442-7186
Executive
Vice President
jnicholson@brigusgold.com
or
Katherine
Burgess, 902-442-7184
Manager, Stakeholder Relations
kburgess@brigusgold.com
