by Business Wire
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
----------- ------ ------ ---------- -----------
GF11-373 89.00 100.00 11.00 5.44
----------- ------ ------ ---------- -----------
including 89.00 92.00 3.00 17.94
----------- ------ ------ ---------- -----------
GF12-442 60.20 65.24 5.04 5.41
----------- ------ ------ ---------- -----------
including 61.00 62.00 1.00 15.39
----------- ------ ------ ---------- -----------
GF12-444 100.80 107.00 6.20 5.61
----------- ------ ------ ---------- -----------
including 104.00 105.00 1.00 12.34
----------- ------ ------ ---------- -----------
and 106.00 107.00 1.00 13.30
----------- ------ ------ ---------- -----------
GF12-477 49.20 60.85 11.65 3.18
----------- ------ ------ ---------- -----------
including 55.00 56.00 1.00 14.10
----------- ------ ------ ---------- -----------
GF12-493 45.00 76.60 31.60 5.42
----------- ------ ------ ---------- -----------
including 56.00 63.00 7.00 18.50
----------- ------ ------ ---------- -----------
and 62.00 63.00 1.00 102.00
----------- ------ ------ ---------- -----------
GF12-548 184.90 195.05 10.15 25.72
----------- ------ ------ ---------- -----------
including 184.90 185.75 0.85 281.76
----------- ------ ------ ---------- -----------
"Targeted drilling within selected areas of the Contact Zone continues to return high grade results over much wider than expected widths," said Howard Bird, Brigus' Vice President of Exploration. "This is due to local dilation jogs in the Contact Zone and cross-cutting fault structures which can often result in the development of impressive plunging gold shoots."
The Black Fox Complex covers an area of approximately 18 square kilometres within the Timmins Mining District, Ontario. To date, the Company has systematically explored 25 percent of the property and significant upside potential remains on the rest of the property. The Contact Zone consists of a steeply dipping gold mineralized fault contact between the north-south trending metasediments and mafic volcanic rocks, and other parallel hanging wall and footwall gold mineralized zones. The general dip of the feature is 78 degrees to the east. Brigus has outlined an area of mineralization approximately 450 m in strike length at the Contact Zone that remains open along strike to the north and open at depth.
The initial resource estimate for the Contact and 147 zones, as released in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex. Exploration drilling at the Black Fox Complex is progressing as planned with three drill rigs and an updated resource estimate on the Contact and 147 zones will be released in 2012.
Brigus has also commenced a preliminary economic assessment (PEA) on 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 opportunities for the Company.
Details of the most recent analytical results over 1 gpt gold from the Contact Zone drill holes and a 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, 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.
SOURCE: Brigus Gold Corp.
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
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