HALIFAX, Oct. 16, 2013 /CNW/ - Brigus Gold Corp. ("Brigus" or the "Company") (NYSE: BRD) (TSX: BRD) is pleased to report the deepest intersection drilled to date at Black Fox. Hole GF 454-01-W intersected 40.71 grams per tonne gold over 26.75 metres, including 103.20 grams per tonne gold over 8.35 metres. This test hole was drilled from underground and intersected Black Fox mineralization at approximately 700 metres vertical from surface, extending the west zone by an additional 300m at depth. Recently the Company engaged in a limited drilling program to test the down dip extension of the Black Fox orebody. 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.
"This high grade test hole along with underground exploration holes drilled earlier this year indicate the continuity of the Black Fox deposit both down dip and along strike," said Howard Bird, Brigus' Senior Vice President of Exploration. "We are very encouraged by the high grades and thickness of ore intersected in 2013. In 2014 our exploration team will focus on infill and expansion drilling from underground to increase the gold reserves and life of mine at Black Fox."
Highlights from Black Fox drilling:
|Hole Number||From||To||Core Width|| Gold Assay
|*Gold Assay (Cut)|
|*All high grade assays capped at 300.00g/t.|
The Company is also pleased to report additional high grade drilling results from its ongoing drill program at the 147 Zone and Contact Zone on the Grey Fox project. These results will be included in an updated NI 43-101 resource estimate on the Grey Fox property that will be released in the first quarter of 2014. The 147, Contact and Grey Fox South zones all remain open for further expansion and three drill rigs will continue to systematically test these targets throughout the year. These zones all occur within close proximity of each other and provide Brigus with near term production growth opportunities because of their proximity to the Black Fox Mine infrastructure.
Highlights from the 147 Zone and Contact Zone:
|From||To||Core Width||Gold Assay|| Metal
|(m)||(m)||(m)||grams/tonne|| grams X
A Black Fox longitudinal section is shown in Appendix 1. Details of the most recent 147 Zone and Contact Zone drill-holes are listed in Appendix 2 and a 147 Zone and Contact Zone drill-hole location map is included in Appendix 3.
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, which is 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 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 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.
Appendix 2: Most recent drill-hole assay results at the 147 Zone and Contact Zone
|Hole Number||From||To||Core Width||Gold Assay||Metal Factor|| Mineralized
|(m)||(m)||(m)||grams/tonne||grams X width|
| * previously reported
Image with caption: "Appendix 1: Black Fox longitudinal section (CNW Group/Brigus Gold Corp.)". Image available at: http://photos.newswire.ca/images/download/20131016_C4512_PHOTO_EN_32120.jpg
Image with caption: "Appendix 3: 147 Zone and Contact Zone drill-hole location plan map with geology (CNW Group/Brigus Gold Corp.)". Image available at: http://photos.newswire.ca/images/download/20131016_C4512_PHOTO_EN_32121.jpg
SOURCE: Brigus Gold Corp.
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