Brigus Gold Q3 production rises

Brigus Gold Corp

(TSE-BRD) (NASDAQ-BRD)

UPDATE 1-6 hours ago by Thomson Reuters

Oct 13 (Reuters) - Canada's Brigus Gold Corp said third-quarter gold production rose at its wholly-owned underground mine in Ontario. 

Gold production at the company's Black Fox underground mine, located near Timmins in Ontario, rose 7 percent to 16,838 ounces from 15,688 ounces in the last quarter. 

For the same period, the company processed 189,674 tonnes of gold at an average grade of 2.9 grams per tonne.
Mill throughput averaged 2,062 tonnes per day for the third quarter.
Shares of the company closed at C$1.14 on Wednesday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Saumyadeb Chakrabarty)



(Retirefund Notes: Insider reports show that company officers have been buying Brigus stock from Nov 2010 through October 7th, 2011.  There are no sells) 

Expert Analysis

Kerry Smith, Haywood Securities (7/28/11) "Brigus Gold Corp. rates a Sector Outperform with the release of assays from nine more holes, of which six holes returned significant assays in the recently named 147 Zone located 4 km. to the southeast of the Black Fox mine. . .the best hole (GF11-244) hit 20.11 g/t over a core width of 16m, including 34.06 g/t gold over 5m. . .assays continue a trend of high-grade results in many of the holes, with most of the assays returning 3m–4m widths grading 6–9 g/t gold. . .this zone continues to demonstrate a very high hit ratio with over 70% of the holes delivering ore-grade intercepts. So far this zone is showing reasonable down-dip continuity typical of the Timmins camp and we expect further positive results over the year as the company continues its planned 25,000m of drilling."

The Gold Report Interview with Mike Niehuser (7/6/11) "We also were on Brigus Gold's analyst day visiting their Black Fox gold mine and mill near Timmins, Ontario. Management has succeeded in eliminating the hedge book and reducing debt. Brigus has about $29M in cash and expects to produce over 73 Koz. of gold in 2011 at about $625/oz. As the company ramps up underground outputs with higher grades, production is expected to increase to over a 100 Koz. in 2012 and costs should drop. In addition to this scheduled upside in the near term, the area is known for deep underground gold mining. Brigus has had great exploration success near surface down the trend in the Contact and 147 Zone. Together, this indicates good potential to increase production and the life of the mine. Improving prospects in the near and midterm should lead to Brigus achieving an entirely new investment profile."

Kerry Smith, Haywood Securities (7/6/11) "Brigus Gold has released assays from six more holes, all with significant assays, in the newly named '147 Zone' located 4 km. to the southeast of the Black Fox mine: The best hole (GF11-206) hit 3.94 g/t over a core width of 24.2m, including 6.86 g/t over 11.8m. Assays, now to a vertical depth of 240m in hole GF11-206, continue a trend of high-grade results in many of the holes."

Kerry Smith, Haywood Securities (6/21/11) "In Q111, Brigus Gold produced 8,772 oz. Au (in line with our model) at a cash operating cost of US$1,097/oz. (lower than our estimate); as previously noted, Black Fox had a difficult Q111, as ore from the Phase II open pit was not available to feed the mill (open-pit ore was sterilized by the old underground ramp and vent raise, and could not be mined until this old infrastructure was decommissioned and moved). Commercial production from Phase II was achieved in April, and underground production continues to ramp up with commercial production expected this month. . .the 147 Zone discovery has the potential for up to 200 Koz. for every 100m of vertical extent—a very significant discover, though in early stages, is delivering some excellent grades and widths."

HRA Dispatch (6/21/11) "Brigus Gold has released its Q1 results, which essentially boil down to management contending that the basic pain from the Black Fox refit is behind it; BRD expects to generate 73&38211;80 Koz. this year at a cash cost of about $600/oz. Drill results out yesterday show both high-grade and bulk-tonnage intercepts are well above current averages."

Black Fox Mine, Timmons, Ont

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Rodinia Lithium Receives Preliminary Processing Results for Lithium Recovery at the Salar de Diablillos Project

Rodinia Lithium Inc.
TSX VENTURE : RM
OTCQX : RDNAF


- A Favourable Preliminary Brine Processing Report has Been Received for Diablillos
- Excellent Results With Average Recovery of Lithium of 65 Percent 

- Relative to Lithium Carbonate Production, Co-Products of Potash (at A Rate of 13:1) and Boric Acid (at A Rate of 1:1) Are Expected to Be Harvested 

- A Conventional Recovery Process That Will Employ A Combination of Solar Evaporation and Chemical Processing to Produce Lithium Carbonate

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2011) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF) is pleased to announce that it has received a preliminary processing report for its Salar de Diablillos project ("Diablillos" or "Salar") located in Salta Province, Argentina. The report is authored by Mr. Robert Cinq-Mars and describes a detailed process to recover lithium carbonate from the subterranean brines of Diablillos. The proposed lithium recovery process is a combination of solar evaporation steps, in-field brine treatment, co-product potash ("KCl") and boric acid recovery, and chemical processing to produce lithium carbonate. The process results in a high lithium recovery of 65% once the brine is saturated producing 131,200 tonnes of KCl sylvinite and 10,250 tonnes of boric acid for every 10,000 tonnes of lithium carbonate.
William Randall, President & CEO of Rodinia, commented "This processing report demonstrates the high quality brines of the Diablillos aquifers, resulting in a clean and efficient process with excellent recoveries of lithium. The low impurity levels, in particular magnesium and sulphate, allow for the harvesting of potash as a high impact co-product. The brine quality also ensures that the processing requires conventional reagents at moderate levels, meaning that we will not need to source expensive and hard to find chemicals. I would like to thank Mr. Cinq-Mars for his hard work and expertise that has produced this low-cost method. The findings described in the report will be incorporated into our upcoming Preliminary Economic Assessment."
The process was designed from initial brine with an average composition of 580 mg/L lithium, 7200 mg/L potassium, and 520 mg/L boron. The initial magnesium to lithium and sulfate to lithium ratios were 3.4 and 14.8 respectively. The process contemplates a series of ponds from largest to smallest, where the largest is used to bring brine to saturation and is designed to be unlined, reducing the capital cost of pond construction. Brine extracted from the final pond will have a concentration of approximately 12% lithium chloride and will be transported to the treatment facility, where boric acid and lithium carbonate are produced.
The process was developed and designed by Mr. Robert Cinq-Mars. Mr. Cinq-Mars has a wealth of experience in process design and management. His work experience includes 20 years in the lithium industry. During his time with Lithium Corporation of America, subsequently purchased by FMC Corporation, Mr. Cinq-Mars was Manager of New Resources and Process Development. Mr. Cinq-Mars' work included process research and development of three routes to recover lithium from new reserves, physical evaporation studies in laboratory to support process design, and identification of alternate lithium resources in the world.
The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m³ grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

Investor Cubed Inc.
Investor Relations
+1 (647) 258-3311

Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696

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Talison Lithium Q1 sales volume rises 53%

(Stock up 85% in 6 days)
UPDATE 1-7 hours ago by Thomson Reuters

Oct 11 (Reuters) - Talison Lithium sold 53 percent more lithium concentrate in the first-quarter, helped by strong demand for the product from electric vehicle battery makers. 

The Perth-based company, however, expects sales volume to remain constrained till its production capacity is expanded in the fourth quarter.
Quarterly production rose 12 percent to 90,708 tonnes of lithium concentrate. Sales volume rose 53 percent to 80,315 tonnes of lithium concentrate, the company said in a statement. 

Talison Lithium has been producing lithium concentrate from Greenbushes, located in southwest Australia, for over 25 years, and explores for lithium in Salares, in Chile's Atacama desert.

The company's shares, which are listed on the Toronto Stock Exchange, closed at C$2.98 on Friday. (Reporting by Gowri Jayakumar in Bangalore; Editing by Roshni Menon)

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Rodinia Lithium Confirms High Transmissivity and Effective Porosity of Brine-Containing Sediments With Initial Pumping and Tracer Test Results

Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX: RDNAF)
is pleased to provide an update on progress at its Salar de Diablillos project ("Diablillos" or "Salar") located in Salta Province, Argentina. Results for the first series of pumping and tracer tests performed at Diablillos have been processed, resulting in high transmissivity and effective porosity values. The estimated total transmissivity is more than 300 m2/day with horizontal hydraulic conductivity of about 4 m/day. The estimated effective porosity is 15%. These parameters translate to higher recovery rates per well and an overall higher recovery of the in-situ brine in the event of production.

William Randall, President & CEO of Rodinia, commented "The results of these pump tests are a resounding success for the company and an important step in confirming the productive potential of the Salar. The resultant high transmissivity and effective porosity values, as determined by these tests, confirm Diablillos' very large recoverable resource, and allow us to estimate the well requirements for our upcoming Preliminary Economic Assessment, which we expect to be able to deliver in the fourth quarter of this year." 

The pumping test site consisted of two pumping wells and four monitoring wells. Pumping tests were performed for 18 hours and 72 hours, using tracer dye injected in an observation well within the lower sediments to monitor brine flow, and a cyclone to neutralize the effects of the gas dissolution from the brine.
SRK Consulting ("SRK") was retained earlier this year to design and supervise the pumping tests as well as to complete the upcoming Preliminary Economic Assessment. SRK has a demonstrated record of accomplishment in undertaking independent assessments of mineral resources and mineral reserves, project evaluations and audits, technical reports and independent feasibility evaluations to bankable standards on behalf of exploration and mining companies and financial institutions worldwide. SRK has also worked with a large number of major international mining companies and their projects, providing mining industry consultancy service inputs. SRK is a leading international practice in due diligence, scoping, pre-feasibility and feasibility studies that employs seasoned specialists in each field of science, geology and engineering. They have extensive experience with in-situ recovery and brine extraction type projects around the world, including Argentina.

 SRK's team is led by Terry Braun and Dr. Vladimir Ugorets as Qualified Persons for the project. Dr. Ugorets has more than 32 years of professional experience in hydrogeology, developing and implementing groundwater flow and solute-transport models related to mine dewatering, groundwater contamination, and water resource development. Dr. Ugorets' areas of expertise are in design and optimization of extraction-injection wellfields, development of conceptual and numerical groundwater flow and solute-transport models, and dewatering optimization for open-pit, underground and ISR mines.

The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.

About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.

Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43-101.

Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Investor Cubed Inc.
Investor Relations
+1 (647) 258-3311

Rodinia Lithium Inc.
Aaron Wolfe
Vice-President, Corporate Development
+1 (416) 309-2696
info@rodinialithium.com
www.rodinialithium.com

SOURCE: Rodinia Lithium Inc.

mailto:info@rodinialithium.com
http://www.rodinialithium.com

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San Gold Reports Strong Quarterly Gold Production, Exploration Results, and Provides Notice of Third Quarter 2011 Financial Results Conference Call

20 hours ago by Marketwire

 San Gold Corporation (TSX: SGR)(OTCQX: SGRCF) ("San Gold" or the "Company") reports preliminary operating results for the third quarter of 2011 and is providing drilling results from its SG1 Mine Area and from a portion of the Shoreline Basalt. The Company is also announcing that it plans to report third quarter 2011 financial results before market open on Tuesday, November 15, 2011, and that senior management will host a conference call that day at 11:00 am Eastern Standard Time. 

Third Quarter 2011 Preliminary Operating Results
In the third quarter of 2011, the Company's Rice Lake, Hinge, and 007 mines (the "Rice Lake Complex") produced 19,119 ounces of gold at a total cash operating cost that is expected to be in-line with the Company's full-year guidance of $825 per ounce of gold sold. Year-to-date production of 53,918 ounces is consistent with the Company's full-year production forecast of 80,000 ounces. 
 
Commenting on these results, George Pirie, President and Chief Executive Officer of San Gold, stated, "We continue to execute on our plan of growing the production profile, as evidenced by our greatly improved year-over-year performance. With the crushing and milling circuit upgrades approaching completion, we expect to post record operating results in the fourth quarter and to achieve our full-year production guidance."
Gold production in the third quarter of 2011 was 52% higher than production of 12,568 ounces in third quarter of 2010. Gold production of 53,918 ounces in the first nine months of the 2011 was 58% higher than production of 34,217 ounces in the same period of 2010. Higher gold production in 2011 is a result of increased mill throughput relative to the comparable periods of 2010. 
 
During the third quarter of 2011, the Company milled ore at a record quarterly rate of approximately 1,324 tons per day ("tpd") for a total of 121,844 tons, an increase of 62% compared to 818 tpd in the same period of 2010. Milling rates have increased relative to prior periods as a result of crusher and milling system expansion initiatives implemented over the past year. The benefits of increased crushing and milling rates during the quarter were partially offset by four days of unscheduled downtime in July related to power supply issues that have since been resolved. 

The Rice Lake Mill processed ore at an average head grade of 5.83 grams of gold per tonne of ore ("g/t Au") in the third quarter of 2011, a decrease of 5% relative to the head grade of 6.12 g/t Au in the same period of 2010. The decrease in head grade is a result of substantially less than budgeted ore being mined from the higher-grade 007 Mine during the month of July. 

Gold recovery from the mill was 92% in the third quarter of 2011, 2-percentage points lower than the 94% achieved during the comparable period of last year, and below the budgeted rate of 93%. The lower than budgeted gold recovery is a result of the ongoing installation of new flotation cells in the milling circuit, which has not required any mill downtime. Commissioning of the new flotation cells is planned to be completed near the middle of October, after which, gold recovery is expected to return to the budgeted rate.
During the third quarter of 2011, the Company mined ore at a record quarterly rate of approximately 1,358 tpd for a total of 124,952 tons, an increase of 75% compared to 777 tpd in the same period of 2010. The increase in mining rates is attributable to a larger mechanized mining fleet, improved safety performance, and an increased number of active mining areas. During the quarter, approximately 78% of the tons mined were sourced from the generally lower cost and higher grade Hinge and 007 mines. Currently, ore from the 007 Mine contributes approximately 50% of the ore being mined and milled. The Company has a surface stockpile of approximately 26,000 tons of ore ahead of the crushing circuit. 

Commenting on the improved quarterly operating results, Ian Berzins, Chief Operating Officer of San Gold, stated "I am very pleased that we have delivered another strong quarter of gold production, further demonstrating that we are executing on our strategy of debottlenecking the operation and improving safety performance as a result of investing in new infrastructure and equipment. Mill throughput increased steadily throughout the third quarter, and we are currently processing ore at a rate of 1,500 tons per day. When we complete the commissioning of the flotation cell upgrade later this month, we expect mill throughput to increase to a rate of at least 1,600 tons per day. With the mill expansion ahead of schedule, I am confident that we will achieve our full-year production guidance of 80,000 ounces."
Key operational metrics and production statistics for the third quarter of 2011 compared to the third quarter of 2010 and on year-to-date bases are presented in tables 1 and 2 at the end of this press release, respectively. 

Exploration Update
San Gold is currently undertaking its largest ever exploration program, which includes more than 300,000 metres ("m") of drilling utilizing up to 14 rigs, making it one of Canada's largest drill programs by a gold producer in 2011. The goals of this aggressive exploration program are to upgrade existing mineral resources, extend areas of known mineralization to depths of 1,000 m or more, and discover new mineral resources in preparation for an updated mineral reserve and resource statement in 2012. 

This exploration update primarily discusses drilling activities that were targeting down-dip extensions to mineralized zones at the SG-1 Mine Area and along the Shoreline Basalt. The general locations of these exploration areas are presented in Figure 1 at the end of this press release. 

The Company is awaiting a significant number of assay results, as laboratory turn-around-times are currently in excess of one month, due to the recent conclusion of the Canadian summer drilling season. 

SG1 Mine Area
The Company recently received assay results from a drilling program in the vicinity of its 100%-owned SG1 Mine, located approximately 4.5 km northeast of the Company's Rice Lake Mill. The SG1 Mine has a dedicated decline, was brought into production during 2006, and was placed on care-and-maintenance in October of 2008 when the Company reallocated mining and exploration resources to the higher grade and lower cost Hinge Mine. The gold mineralization in the SG1 Mine Area is interpreted to be associated with the Normandy Creek Shear and, potentially, an eastern limb of the Shoreline Basalt. 

Prior to the initiation of this drilling program, the drill-indicated mineralized envelope extended from surface to a depth of approximately 200 m. Selected results are shown in the table below, with the pierce points of these drill holes shown in Figure 1.

--------------------------------------------------------------
                                    Interval(1)    Uncut Grade
Drill Hole          From (m)  To (m)        (m)       (g/t Au)
--------------------------------------------------------------
SG-11-013              296.4   301.9        5.5           6.56
           including   296.4   299.2        2.7          11.13
--------------------------------------------------------------
SG-11-016              468.5   477.6        9.1           6.48
           including   473.9   477.6        3.7          10.59
--------------------------------------------------------------
SG-11-017              472.9   491.1       18.3           6.48
           including   474.9   480.7        5.8          10.32
--------------------------------------------------------------

(1)- May not represent true width
These drill holes have located gold mineralization outside of the mineral resource envelope in between depths of 290 m and 475 m below surface over potentially economic widths and grades beneath existing mine infrastructure. The initial success of the SG1 Mine Area drilling program outside of the existing mineral resource envelope has the potential to significantly increase mineral resources and reserves.
Additional assays are pending and drilling is ongoing to drill-test outside of the mineral resource envelope for extensions of the zone along strike and at depth.
Shoreline Basalt
Along the Shoreline Basalt Unit, a system of stacked lenses that includes the 007 Trend, L10, and Emperor zones, drilling continues to expand the mineralized envelope both along strike and at depth. This unit has a strike length of more than 2,000 m, a plunge that has been traced to over 1,400 m from surface, and remains open along strike and to depth. Geological and geophysical evidence suggest that the Shoreline Basalt may extend 5 kilometres eastward to the SG1 Mine Area.
The Company has received assay results from initial deep drilling below the L10 zone that has located a down-dip extension within 200 m of the Company's existing Rice Lake Mine's underground infrastructure. Selected results are shown in the table below, with the pierce points of these drill holes shown on Figure 1.

--------------------------------------------------------------
                                      Interval
Drill Hole              From      To        (1)    Uncut Grade
                         (m)     (m)        (m)       (g/t Au)
--------------------------------------------------------------
DX-11-009              595.6   601.1        5.4          22.86
           including   598.8   599.0        0.2         310.62
                 and   611.3   614.3        3.0           5.08
           including   612.0   612.6        0.5          17.97
--------------------------------------------------------------

(1)- May not represent true width
Drill holes DX-11-009 located the L10 zone at depths of up to 575 m below surface, suggesting a potential 200 m down dip extension to depth from the limits of previous drilling. The L10 zone has a drill-indicated strike of at least 100 m, begins 250 m below surface, and typically varies in width from 2 to 5 m. The L10 zone remains open along strike and down-dip, and additional assays are pending. 

The Company has also received assay from a previously undrilled 500 m section along the Shoreline Basalt between the L10 and 007 Trend zones. Drilling encountered near surface, high-grade gold mineralization along the hanging wall contact of the Shoreline Basalt at a depth of approximately 200 m below surface and within 100 m of the 007 decline. Selected results are shown in the table below, with the pierce points of these drill holes shown on Figure 1. Additional assays are pending.

--------------------------------------------------------------
                                       Interval
Drill Hole              From      To        (1)    Uncut Grade
                         (m)     (m)        (m)       (g/t Au)
--------------------------------------------------------------
S936-11-001            424.7   129.6        0.2         338.91
S936-11-002            333.1   353.2       20.1          13.44
--------------------------------------------------------------

(1)- May not represent true width
The Company is very encouraged by these results as it demonstrates the potential for the expansion of existing mineralized zones and the discovery of new zones along the Shoreline Basalt. 

Commenting on these results, George Pirie, stated, "I am very impressed with the initial results from the drilling beneath SG1, due to both grades and widths encountered and because of the proximity to existing mine infrastructure. I am also excited about the initial deep drilling results from the L10 zone, which supports our interpretation that the Shoreline Basalt zones are likely to exceed to depths exceeding 1,000 m. The implications from all of these are tremendous with respect to how the future development of the Rice Lake Complex may unfold." 

 
Exploration Activities for the Remainder of 2011
Year-to-date, San Gold has drilled approximately 275,000 m in 925 holes and will achieve its target of drilling 300,000 m in 2011. For the remainder of the year, drilling will continue to focus on in-fill and step-out drilling at areas of known mineralization, plus drill-testing grassroots exploration targets, albeit at a slightly slower pace until the 2012 exploration season commences.
In addition to its Rice Lake Project exploration programs, the Company recently completed a 3,600 line-km high-resolution airborne geophysical survey on its 100%-owned projects and on a portion of the projects that it has under option agreement. The Company is awaiting the preliminary interpretation and expects geophysical anomalies identified from the survey to help guide the Company's first regional exploration program in the Rice Lake area.
QA/QC Programs
Surface drill programs are carried out under the supervision of William Ferreira, B.Sc. Geology, Registered Professional Geologist. Underground drill programs are carried under the supervision of Dale Ginn, B.Sc. Geology and Registered Professional Geologist. Mr. Ferreira and Mr. Ginn are Qualified Persons as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Strict sampling and QA/QC protocol are followed, including the insertion of standards, blanks, and duplicates on a regular basis, plus the retention of pulps and rejects. Surface drilling core samples are sent to TSL Laboratories in Saskatoon, Saskatchewan ("TSL") for sample preparation and analysis. Analytical method is fire assay with atomic adsorption finish and gravimetric finish. Whole metallic assays are performed on samples containing visible gold. Additional QA/QC testing is provided by Accurassay Laboratories of Thunder Bay, Ontario ("Accurassay") on a routine basis.
Underground drill core samples are prepared and assayed on site in the Company's assay lab using the fire assay method with an atomic adsorption finish and gravimetric finish. Strict sampling and QA/QC protocol are followed, including the insertion of standards, blanks, and duplicates on a regular basis, plus the retention of pulps and rejects, and spot checks utilizing independent labs including TSL and Accurassay.
Due to the exploratory nature of this exploration program and the variable orientations of the high-grade mineralized zones, drill intersections reported in this press release may not necessarily represent the true width of mineralization. All assays reported in this press release are uncut.
Notice of Third Quarter 2011 Financial Results Conference Call
The Company's senior management plans to host a conference call on Tuesday, November 15, 2011 at 11:00 am Eastern Standard Time to discuss the 2011 third quarter financial results, and to provide an update of the Company's operating, exploration, and development activities.
Participants may join the conference call by dialing 1 (877) 240-9772 or 1 (416) 340-8530 for participants outside of Canada and the United States. The conference call will also be available by webcast on the Company's website at www.sangold.ca.
A recorded playback of the conference call can be accessed after the event until November 22, 2011 by dialing 1 (800) 408-3053 or 1 (905) 694-9451 for calls outside Canada and the United States. The pass code for the conference call playback is 2825740. The archived audio webcast will also be available on the Company's website at www.sangold.ca. 

About San Gold
San Gold is an established Canadian-based gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs over 400 people and is committed to the highest standards of safety and environmental stewardship. The Company has over $40 million in cash and equivalents and is unhedged to the price of gold. As of October 1, 2011, San Gold has 312,509,841 common shares outstanding (327,201,851 shares fully diluted), which are traded on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF". 

For further information on San Gold, please visit www.sangold.ca. 

Cautionary Non-IFRS Statements
The Company believes that investors use certain indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with International Financial Reporting Standards ("IFRS"). "Total cash operating costs" as used in this analysis is a non-IFRS term typically used by gold mining companies to assess the level of gross margin available to the Company per ounce of gold by subtracting these costs from the unit price realized during the period. This non-IFRS term is also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of "total cash operating costs" as determined by the Company compared with other mining companies. In this context, "total cash operating costs" reflects the per ounce cash costs allocated from in-process and dore inventory associated with ounces of gold sold in the period and net royalties. "Total cash operating costs" may vary from one period to another due to operating efficiencies, quantity of ore processed, grade of ore processed, and gold recovery rates.
Cautionary Note Regarding Forward Looking Statements
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking 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 the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
Cautionary Note to United States and Other Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources:
This press release uses the terms "Measured", "Indicated", and "Inferred" resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
Table 1: Third Quarter 2011 and 2010 Production Summary and Statistics (1,2)

Q3         Q3     Change     Change
                                       2011       2010        (#)        (%)
Ore mined (tons)                    124,952     71,463     56,721        75%
Ore milled (tons)                   121,844     75,263     46,581        62%
Head grade (g/tonne Au)                5.83       6.12      -0.29        -5%
----------------------------------------------------------------------------
Contained Gold (ounces)              20,732     13,436      7,296        54%
Ounces of gold produced (3)          19,119     12,568      6,551        52%
Ore mined per day (tons)              1,358        777        581        75%
Ore milled per day (tons)             1,324        818        506        62%
Mill recovery (%)                       92%        94%         -2        -2%
     (1)  All amounts for Q3-2011 are preliminary and based on initial end
          of period estimates. Final adjustments may be required.
     (2)  Certain numbers may not compute due to the effects of rounding and
          truncation.
     (3)  Before final refinery settlements, which may result in increases
          or decreases to reported gold production.

Table 2: Year-to-Date Production Summary and Statistics (1,2)

Q3      Q2      Q1  YTD-Q3  YTD-Q3    Change Change
                       2011    2011    2011    2011    2010       (#)    (%)
Ore mined (tons)    124,952 123,261 102,200 350,413 197,810   152,603    77%
Ore milled (tons)   121,844 114,624  82,792 319,260 192,686   126,574    66%
Head grade (g/tonne
 Au)                   5.83    6.35    6.47    6.19    6.52     -0.33    -5%
----------------------------------------------------------------------------
Contained Gold
 (ounces)            20,732  21,244  15,636  57,612  36,668    20,944    36%
Ounces of gold
 produced (3)        19,119  20,111  14,688  53,918  34,217    19,701    58%
Ore mined per day
 (tons)               1,358   1,355   1,136   1,284     725       559    77%
Ore milled per day
 (tons)               1,324   1,260     910   1,169     706       463    66%
Mill recovery (%)       92%     95%     94%     94%     93%         1     0%
      (1) All amounts for Q3-2011 are preliminary and based on initial end
          of period estimates. Final adjustments may be required.
      (2) Certain numbers may not compute due to the effects of rounding and
          truncation.
      (3) Before final refinery settlements, which may result in increases
          or decreases to reported gold production.

To view, "Figure 1: Northeast-looking Longitudinal Section," please visit the following link:
http://media3.marketwire.com/docs/sgold_fig_1007.pdf.
The TSX and the OTCQX exchanges have not reviewed and do not accept responsibility for the adequacy or accuracy of this release.

Contacts:
San Gold Corporation
Tim Friesen
Director, Communications
(855) 585-4653  or +1 (204) 772-9149 ext. 202

San Gold Corporation
Jeremy Link
Vice-President, Corporate Development
+1 (416) 214-0024 ext. 201
www.sangold.ca

SOURCE: San Gold Corporation

http://www.sangold.ca

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Western Lithium shares rise on battery plan

53 minutes ago by Thomson Reuters

  * U.S. lab to help develop battery specs for WLC's lithium
* Shares rise 20.48 percent to C$0.50 on TSX

Oct 5 (Reuters) - Shares of Western Lithium USA Corp <WLC.TO> rose more than 20 percent on Wednesday after the company said it is working with a U.S. government laboratory to develop battery applications for the lithium carbonate it plans to mine.

Under the agreement, the company will pay the Department of Energy's Argonne National Laboratory to help it commercialize lithium produced from clay deposits at its Kings Valley lithium project in Nevada. Financial terms of the deal were not disclosed.

Western Lithium's shares were up 20.48 percent at 50 Canadian cents at midday on Wednesday on the Toronto Stock Exchange.
The Nevada-based, Canadian-listed company has produced high quality lithium carbonate - used in lithium-ion batteries, ceramics and glass - in pilot studies.

The work with Argonne, which is expected to take about a year, will help the company refine its processes and create battery specifications for its lithium product.

Producing battery-grade lithium carbonate is a key step toward securing customers for the eventual development of the Kings Valley mine.

Western Lithium is also building a demonstration plant to study the cost competitiveness of the project and plans to have a prefeasibility study done this month.

($1=$1.05 Canadian) (Reporting by Julie Gordon; editing by Peter Galloway)

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Brigus Gold provides positive update on Goldfields project.

Brigus Gold Provides Updated Technical Report on Goldfields Project

 2 hours ago by Business Wire

 

 Brigus Gold Corp. ("Brigus" or the "Company") (NYSE Amex: BRD) (TSX: BRD) is pleased to report results from a recent independent Technical Report (the 'Report') on its wholly owned Goldfields development project in northern Saskatchewan. The Report, prepared by March Consulting Associates Inc., is a pre-feasibility study which indicates a Net Present Value (NPV) of $144.3 million at a 5% discount rate with an internal rate of return (IRR) of 19.6% assuming a gold price of $1,250 per ounce. 

Brigus retained Wardrop, a Tetra Tech company, to complete the updated resource estimate for the Box and Athona deposits. The Report was prepared in compliance with the Canadian National Instrument 43-101 (NI 43-101) and will be filed with SEDAR and posted on the Company website within seven days.

Report Highlights:
-- Mine life of 13 years (including both Box and Athona deposits) based on existing reserves of 1,020,000 ounces of gold at an average gold grade of 1.97 grams per tonne (gpt) over the first 7 years and 1.42 gpt over the life of the mine.
-- Processing rate of 1,825,000 tonnes per year (5,000 tonnes per day (tpd)) and a recovery rate of 91% for the Box deposit and 89% for the Athona deposit.
-- Average cash operating costs of $601 per ounce with a break-even gold price of approximately $1,000 per ounce.
-- Capital costs of approximately $160 million (leased mining fleet not included).
-- NPV of $144.3 million at a 5% discount rate with an IRR of 19.6% and a payback period of five years assuming a gold price of $1,250 per ounce.
-- At $1,500 per ounce of gold, the NPV for the project increases to $300 million with an IRR of 32%.
-- Average annual production of approximately 100,000 ounces per year during the first seven years.
-- The Environmental Impact Statement (EIS) has been submitted and approved. Therefore no permitting delays are anticipated.
Mineable Reserves for Box and Athona Deposits

Ore (t)       Grade (gpt)    Gold (oz)    Waste (t)
                       ----------    -----------    ---------    ----------
Box Mine
Proven + Probable      16,502,247    1.508          800,000      75,228,132
Athona Deposit
Proven + Probable      5,830,798     1.172          220,000      6,423,778
Total                  22,333,045    1.420          1,020,000    81,651,910
-----------------      ----------    -----------    ---------    ----------

The Goldfields Project includes 22,333,045 tonnes of ore at an average gold grade of 1.420 gpt for a total of 1,020,000 ounces of gold. Total waste rock moved from the project is 81,651,910 tonnes over the 13 year life of mine (LOM) resulting in a strip ratio of 4.56 at Box and 1.10 at Athona.

Mill feed is planned at 1,825,000 tonnes per year for a 5,000 tonne per day average throughput. During the first seven years, gold production will average 100,000 ounces per year with an overall gold recovery of 91% for the Box deposit and 89% for the Athona deposit. 

Capital Cost Estimate

Description                  Total Capital ($000s)
                                  ----------------------             ---------------------
Directs                           Infrastructure                             $44,535
                                  ----------------------             ---------------------
                                  Mine                                       $12,956
                                  ----------------------             ---------------------
                                  Mill                                       $44,838
                                  ----------------------             ---------------------
                                                Subtotal                          $102,329
-----------                       ----------------------             ---------------------
Indirects                         Construction Indirects                     $27,379
-----------                       ----------------------             ---------------------
                Freight Indirects                             $5,249
                -----------------                            -------
                Owners Costs                                  $5,119
                -----------------                            -------
                         Subtotal                            $37,747
                -----------------                            -------
Contingency                       Contingency                                $19,159
                                  ----------------------             ---------------------
                                                Subtotal                           $19,159
-----------                       ----------------------             ---------------------
                                      Total Capital Cost                          $159,235

Summary of Operating Costs

Description                         BOX                      ATHONA                  LG STOCKPILE
                                                                                                  RECOVERY
================================    ===================        ===================        ===================
                                    $/t milled     $/t mined   $/t milled     $/t mined   $/t milled     $/t mined
                                    ----------    ---------    ----------    ---------    ----------    ---------
Mine                                  $14.47         $2.60        $4.15         $1.97        $0.73         $0.73
--------------------------------    ----------    ---------    ----------    ---------    ----------    ---------
Mill                                  $10.70           -         $10.70           -         $10.70           -
--------------------------------    ----------    ---------    ----------    ---------    ----------    ---------
G&A                                    $4.99           -          $4.70           -          $3.94           -
--------------------------------    ----------    ---------    ----------    ---------    ----------    ---------
Total Operating Cost - Purchase       $30.17           -         $19.55           -         $15.37           -
--------------------------------    ----------    ---------    ----------    ---------    ----------    ---------
Equipment / Facility Lease Costs       $4.07                      $0.41
--------------------------------    ----------                 ----------
Total Operating Cost - Lease          $34.24                     $19.96                     $15.51
--------------------------------    ----------                 ----------                 ----------

While completing the pre-feasibility study, Brigus has continued exploration and definition drilling on the Goldfields property as well as confirmatory metallurgical sampling and geotechnical investigations. This additional work is expected to enhance the resource and the economics of the project. The ore body is open at depth with the possibility of future upside through underground mining.

 Brigus remains focused on establishing steady state production levels at its Black Fox operation and potential near term expansion from new discoveries within the Black Fox Complex. Once Black Fox has reached its steady state production level in excess of 25,000 ounces of gold per quarter, Brigus will make a decision on the development of the Goldfields Project.

Qualified Persons
The Qualified Persons who reviewed the technical information of this news release were Richard Allan, P.Eng., Chief Operating Officer for Brigus, Cliff Lusby, P.Eng., Principal Mine Engineer Associate and Kyle Krushelniski, P.Eng., Senior Project Manager, on behalf of March Consulting Associates Inc.

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, all in the Township of Black River - Matheson, Ontario, Canada. Brigus is also advancing its Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus has a letter of intent to sell 75% of its Ixhuatan silver-gold 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 contained in this news release that 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 ability of the Company to achieve targeted gold production at its Black Fox Mine, including underground production, and cash costs, mill expansion results, meet capital construction schedules and costs, and the continuation of a rising gold price are forward-looking statements and estimates that involve various risks and uncertainties. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, the issue of permits, the size and quality of the Company's mineral resources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, and the financial results of the Company.
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 as well as elsewhere in Brigus' documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex Equities, 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 
Vice President Investor Relations 
Phone: (902) 422-1421 
Email: jnicholson@brigusgold.com

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