HALIFAX, NS, Oct. 31, 2013 /CNW/ - Brigus Gold Corp. ("Brigus" or the
"Company") (NYSE MKT: BRD; TSX: BRD) is pleased to report a second high
grade gold intersection from underground drilling at Black Fox. Hole
645-34-W assayed 18.09 grams per tonne gold over 37.80 metres, including 39.45 grams per
tonne gold over 10.35 metres. This 37.80 metre mineralized intercept is from a drill interval of
316.9 to 354.7 metres, and remains open as the last sample at 354.7
metres graded 15.34 grams per tonne gold. Therefore, the full thickness
of this high grade intercept is unknown at this time. Hole 645-34-W
intersected high grade mineralization 30 metres to the west of hole
645-01-W, which assayed 40.71 grams per tonne gold over 26.75 metres, including 103.20 grams per
tonne gold over 8.35 metres.
In light of these positive results, exploration drilling at the Black
Fox mine has recommenced and a third drill hole is now in progress.
This phase of exploration will consist of 12 to 15 additional holes to
be drilled from underground to further test and define the new zone.
"This thick, high grade gold intersection directly below current mining
operations confirms the potential to expand our orebody and add
significant ounces to the underground mine at Black Fox," said Wade
Dawe, Brigus' Chairman and CEO. "Accordingly, we have increased our
2013 exploration budget and recommenced drilling to further test this
zone and we look forward to reporting additional results in the coming
weeks. Adding new high-quality gold ounces through exploration is the
most direct way of increasing value for our shareholders."
Orebodies in the region, along the Destor Porcupine Fault, often extend
to depths of more than 1,000 metres. The Black Fox orebody remains open
for expansion both laterally and at depth.
Highlights from Black Fox drilling:
Gold Assay (Uncut)
*Gold Assay (Cut)
Metal Factor (Uncut)
grams x width
*All high grade assays capped at 300.00g/t.
(1) Reported in 16thOctober 2013 Press Release
A Black Fox longitudinal section is shown in Appendix 1.
Underground drilling was conducted by Norex Drilling and was supervised
by the Brigus exploration team. All sample analyses reported herein
were performed by Accurassy Labs of Thunderbay, Ontario, which is ISO
17025 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 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 in the Township of Black River‐Matheson, Ontario, Canada.
Brigus also owns the Goldfields Project located near Uranium City,
Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In
the Dominican Republic, Brigus has signed an agreement to sell its
remaining interests in three mineral exploration projects. In Mexico,
Brigus owns the Ixhuatan Project located in the state of Chiapas.
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 2013 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.
Image with caption: "Appendix 1: Black Fox longitudinal section (CNW Group/Brigus Gold Corp.)". Image available at: http://photos.newswire.ca/images/download/20131031_C9151_PHOTO_EN_32800.jpg
SOURCE: Brigus Gold Corp.
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