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� Brigus
Gold Corp. (�Brigus� or the �Company�) (NYSE Amex:
BRD; TSX: BRD) has received all assay results from 14 drill holes and partial
assay results from an additional three drill holes as part of an
ongoing exploration program at the Company�s 100% owned Black Fox Complex
located in the Timmins Mining District, Ontario. The current exploration
program is designed to expand the Black Fox Complex gold resource by
systematically drilling mineralized structures.
Highlights from recent assay results include (all uncut, average gold grades
with estimated true widths, unless otherwise noted):
Contact Zone
- GF10-106:
- 8.40
grams of gold per tonne (�gpt�)
over 3.99 metres (�m�), and
- 3.08 gpt over 4.23 m
- GF10-114:
- 12.10 gpt over 12.27
m
- including 168.65 gpt over 0.81m
- GF10-125:
- 3.26 gpt over 15.21 m
- including 5.28 gpt over 3.03 m
- including 7.19 gpt over 3.75
m
New Discovery - Grey Fox South
- GF10-115:
- 10.65
gpt over a core length of 6.0 m
- including
23.32 gpt over a core length of 1.0 m
- including
16.12 gpt over a core length of 1.0 m
- including
18.84 gpt over a core length of 1.0 m
The exploration program is following up on historical data and drill results
while also testing new targets within the Black Fox Complex. Three
drill rigs are testing high potential gold targets at the Black Fox Complex
including: the Contact Zone, the Historic Gibson Deposit, the Gibson
Shear, the School House Zone, the Hislop North Zone
and the new Grey Fox South target recently identified from the positive
results from drill hole GF10-115. All targets are located within four kilometres (�km�) of the Company�s operating Black Fox
Mine, providing the opportunity for Black Fox resource additions and rapid
advancement. In addition, during the first quarter of 2011, Brigus will commence drilling on the Black Fox Mill
property, host to the past producing Stock gold mine, located 31 km west of
the Black Fox Mine.
Howard Bird, P. Geo., Vice President of Exploration for Brigus,
said, �The Black Fox Complex drill program continues to confirm continuity of
gold mineralization from multiple drill holes within the Contact Zone.
The discovery of high grade gold mineralization in the new Grey Fox South
target, from hole GF10-115 which returned 10.65 gpt over a core length of 6.0 metres,
is very encouraging and will be followed up with additional drilling.�
Contact Zone
The Contact Zone consists of a steeply dipping mineralized fault contact
between the north-south trending metasediments and mafic volcanic rocks, and two other parallel mineralized
zones. The Contact Zone extends for at least 1,200 m and is open along
strike and at depth. The general dip of the feature is 78 degrees to
the east with horizontal widths varying from 3.5 m to 35 m.
GF10-106displayed some visible gold and intersected 8.40 gpt
gold over a true width of 3.99 m at 160 vertical m from surface and 3.08 gpt of gold over a true width of 4.23 m at 240 vertical m
from surface. The results from GF10-106 have expanded the gold
mineralization from the assay results of GF09-45, drilled in 2009 on the same
vertical section, which returned 6.07 gpt gold over
a true width of 2.95m at approximately 130 vertical m from surface.
GF10-114intersected 12.10 gpt gold over a true
width of 12.27 m, including 168.65 gpt gold over a
true width of 0.81 m with visible gold in the sample. The positive gold
intersection is significant as it is located approximately 200 m along strike
to the south from the main Contact Zone area. There are 27 assay samples
pending from GF10-114.
Hole GF10-125 displayed some visible gold and intercepted 3.26 gpt gold over a true width of 15.21 m beginning at 85
vertical m from surface, including 5.28 gpt gold
over a true width of 3.03 m, and 7.19 gpt gold over
a true width of 3.75 m. There are still 147 sample assays pending
from GF10-125. Hole GF10-103, drilled on
vertical section with GF10-125, intersected 3.03 gpt
gold over a true width of 2.83 m at 105 vertical m from surface, and 3.20 gpt gold over a true width of 2.37 m at 225 vertical m
from surface.
Assay results over 2.0 gpt gold are listed in a
table in Appendix 1 of this news release posted on the Company�s website at www.brigusgold.com. An additional six drill holes have been completed on the
Contact Zone and assays are pending.
Exploration
Outlook
Commenting on the exploration potential at the Black Fox Complex, Mr. Bird
said, �Over the next two years, our exploration team will focus on adding
significant ounces to the gold mineral resources at the Black Fox Complex.
In addition to surface drilling, we also plan to target resource
additions from underground drill stations at the Black Fox Mine.
Underground drilling will initially target gold mineralization to the
southeast of the last underground drill station to follow up on positive
results from previous drilling in 2004 and 2005 where three drill holes
returned true width gold intersections of 31.16 gpt
over 6.25 m, 7.48 gpt over 3.49 m and 12.65 gpt over 3.07 m.�
Surface drilling was conducted by Norex Drilling
and was supervised by the Black Fox exploration staff. All 2010 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 and standards 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 is also
advancing the Goldfields Project located near Uranium City, Saskatchewan,
Canada, which hosts the Box and Athona gold
deposits. In Mexico, Brigus Gold holds a 100
percent interest in the Ixhuatan Project located in
the state of Chiapas, and a 3% Net Smelter Royalty in the Huizopa
exploration project located in the State of Chihuahua. In the Dominican
Republic, Brigus has a joint venture covering three
mineral exploration projects.
Contact
Information:
Wendy Yang, Vice President of Investor Relations
Phone: 303-524-3203
E-mail: ir@brigusgold.com
Cautionary Note to
U.S. Investors Concerning Estimates of Mineral Resources
This news release uses the term mineral �resources�. The Company
advises U.S. investors that while these terms are defined in and required by
Canadian regulations, these terms are not defined terms under the U.S.
Securities and Exchange Commission (�SEC�) Industry Guide 7 and are generally
not permitted to be used in reports and registration statements filed with
the SEC. The SEC generally only permits issuers to report
mineralization that does not constitute SEC Industry Guide 7 compliant
�reserves� as in-place tonnage and grade without reference to unit measures.
U.S. investors are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into reserves.
Cautionary and
Forward-Looking Statements
This news release includes �Forward-Looking Statements� within the meaning of
section 21E of the United States Securities Exchange Act of 1934, as
amended. All statements regarding the Company's ability to successfully
expand the Black Fox Complex gold resource, add to Black Fox resources,
advance new discoveries, 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 and its predecessor companies� most recent
annual report on Form 10-K filed with the United States Securities and
Exchange Commission 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.
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