Brionor Resources Inc. Announces 43-101 Technical Report and Audited Preliminary Resource Estimate for the Pitt Gold Project as Well as Changes in the Corporation's Management Structure
Published : June 20, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Gold | Growth | Market |

TORONTO, ONTARIO--(Marketwire - June 20, 2011) - Brionor Resources Inc. ("BRIONOR" ) (News - Market indicators) is pleased to announce that it has received a 43-101 Technical Report and Audited Preliminary Resource Estimate ("the 43-101 Report") as prepared by Micon International Ltd. of Toronto, for the Pitt Gold Project located along the Porcupine-Destor Break in the Duparquet gold camp, Abitibi region, Quebec.

Resource Estimate.

Report Highlights:

In preparing the 43-101 Report, Micon used a cut-off grade of 3 grams per tonne ("gpt") gold ("Au") and a capping grade of 35 gpt Au. Minimum block widths of 1.5m were used as representative of minimum widths for underground mining. Indicated Resources totalled 600,000 tonnes grading 7.83 g/t Au (151,000 Au ounces). Inferred Resources totalled 476,000 tonnes grading 6.91 g/t Au (106,000 Au ounces). Please see the tables below for summary results:

Resource
Classification
Vein
Number
Tonnage
 
Grade (g/t)
 
Ounces
 
Indicated 1 323,000 5.73 60,000
  2 277,000 10.27 91,000
Total   600,000 7.83 151,000
 
  1 78,000 4.03 10,000
Inferred 2 208,000 7.75 52,000
  3 190,000 7.16 44,000
Total   476,000 6.91 106,000

Parameters Used for Polygonal 2011 Pitt Gold Mineral Resource Estimate

Description   Parameter   Comments
Cut-off grade   3 g/t gold   Minimum grade per block for resources.
Minimum block width   1.5 m   Based on minimum underground mining width.
Dilution   0 g/t   Grade used to bring blocks up to minimum.
Capping grade   35 g/t    
Specific gravity   2.7    
Polygonal size   1/2 distance to next drill hole to a maximum of 50 m.
Core length   Mineralization converted to horizontal true width.

The resources come from three distinct east-west trending structures (Veins 1, 2 and 3) which dip steeply to the south, just north of the Porcupine-Destor break, and remain open at depth. A number of economic intercepts, obtained in recent drilling, were not accounted for in the resource estimate (including the best interval ever obtained on the property: 82.94 g/t Au over 4.58 metres). These intervals could be related to new vein structures but additional definition drilling is required to include them as resources.

The 43-101 Report indicates that additional exploration potential is found in the western half of the property, along the Porcupine-Destor break, where Brionor has undertaken no exploration work to date, and along a parallel structure that crosses the northern portion of the property, the Lepine Lake fault, where previous operators cut a number of anomalous to sub-economic gold intercepts below the Timiskaming sedimentary cover.

The western half of the Pitt Gold property was drill tested historically by previous operators with a number of shallow drill holes rarely exceeding the 200 metre level. As a result several of these holes were not deep enough to test the mineralized horizon below the Timiskaming sedimentary cover (post mineralization). This area therefore, remains virtually open for exploration below the 200 metre level. It should be noted that the mineralization hosted in the Pitt Gold deposit is located entirely below this level.

Of Note, the Lépine Lake fault area, below the Timiskasming cover, was tested by a limited number of holes by past operators (less than 10 holes). Soquem obtained 5.43 g/t Au over 1.2 metres (hole 1299-01-01) and 0.6 g/t Au over 14.9 metres (hole 1299-01-02), while Lacana Exploration cut 7.54 g/t Au over 1.06 metres (hole 88-11). These intercepts and others define a broad gold anomalous corridor almost 2 km in length.

The 43-101 report recommends continued exploration, including drilling to test the numerous targets that remain untested both along strike and at depth on the property.

Management and the Board of Directors of Brionor are very pleased with the positive nature of the results of this preliminary assessment of the Pitt Gold property. "This preliminary modest resource at Pitt Gold is the result of very good work by our technical team in developing a sound geological model for the complex gold bearing structures that make-up this deposit." Future work will aim at defining further resources both along strike and at depth as well as testing the numerous other targets on the property that are as yet untested.

Bill Lewis of Micon International, responsible for the report, is a qualified person as defined by National Instrument 43-101. He has reviewed and approved the technical content of this press release.

Brionor is also pleased to announce changes to the management of the company whereby effective immediately, Mr. Lewis Lawrick has been appointed President and CEO, and Mr. Robert Ayotte has been appointed Executive Chairman. Both Mr. Ayotte and Mr. Lawrick are Board Members and co-founders of Brionor. Further, and in line with these changes, day to day operations have been centralized to Mr. Lawrick's offices in Toronto where business development, administrative services, accounting, and technical services will be facilitated. The Board of Directors believes that at this point in Brionor's evolution such changes will expedite it's growth and development through management in Canada's financial capital. Brionor's Head Office will remain in Montreal, Quebec.

Brionor is a junior mining exploration company with a portfolio of exploration projects including the 100% owned Pitt Gold Project in Quebec.

Cautionary Note

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Brionor's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Brionor, or its management, are intended to identify such forward-looking statements. Many factors could cause Brionor's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward- looking statements. The forward-looking statements included in this press release represent Brionor's views as of the date of the release. While Brionor anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Brionor or persons acting on its behalf are expressly qualified in their entirety by this notice.

Neither 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.

Brionor Resources Inc.
Lew Lawrick
President and CEO
647-478-5307
or
Brionor Resources Inc.
Robert Ayotte
Chairman
450-441-9177
info@brionor.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Brionor Resources

EXPLORATION STAGE
CODE : BNR.V
ISIN : CA10971M1059
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Brionor is a exploration company based in Canada.

Its main exploration property is PITT in Canada.

Brionor is listed in Canada. Its market capitalisation is CA$ 3.9 millions as of today (US$ 2.9 millions, € 2.6 millions).

Its stock quote reached its highest recent level on November 09, 2007 at CA$ 0.68, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Brionor has 48 312 465 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Nominations of Brionor Resources
6/25/2013Announces Changes to Its Board of Directors
Project news of Brionor Resources
10/1/2012(Pitt)Amends Agreement With Xmet on Sale of Pitt Gold Project
Corporate news of Brionor Resources
7/15/2014Brionor Anounces Private Placement Financing and Extension t...
10/29/2013Grants Consent to Atala for Acquisition of AuEX Argentina S....
9/24/2013Extends Deadline to Close the Atala Acquisition
4/30/2013(Pitt)Announces Agreement With Xmet on Pitt Gold Will Not Proceed ...
2/20/2013to Acquire Atala Resources
6/20/2011(Pitt)Announces 43-101 Technical Report and Audited Preliminary Re...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (BNR.V)
0.080+0.00%
TSX-V
CA$ 0.080
06/08 12:30 -
0%
Prev close Open
0.080 0.080
Low High
0.070 0.080
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.080 -%
Volume 1 month var.
43,000 -%
24hGold TrendPower© : 34
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.65%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.26+2.68%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-1.87%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.64-1.86%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.23+4.04%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.88+0.53%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.71+0.19%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :