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� Brigus
Gold Corp. (�Brigus� or the �Company�) (NYSE Amex:
BRD; TSX: BRD) is pleased to announce that exploration drilling at the
Contact Zone has returned high grade assay results over significant widths,
including 12.60 grams per tonne (�gpt�) over 9.75 metres (�m�)
and 9.04 gpt over 18.00 m. The Contact Zone
is part of Brigus� 100% owned Black Fox Complex
covering an area of approximately 18 square kilometres
within the Timmins Mining District, Ontario. The Contact Zone is
located within three kilometres of the Company�s
Black Fox Mine.
These recent results are from drilling completed at the Contact Zone, Gibson
South and Hislop North targets during December 2010
and January 2011. Complete assay results have been received from 22
drill holes and partial results from five drill holes completed during this
period. Highlights from the most recent assay results include
(all uncut, average gold grades with estimated true widths, unless otherwise
noted):
Contact Zone
- GF10-133:
- 12.60 gpt over core length 9.75 m
- including
20.43 gpt over core length 3.43
m
- GF11-147:
- 9.04 gpt over core length 18.00 m
- including
19.27 gpt over core length of 7.00 m
- 3.10 gpt over core length of 9.70 m
- including
5.32 gpt over core length of 3.00 m
- GF10-116:
- 4.40 gpt over core length 4.30 m
- GF10-131:
- 2.97 gpt over 7.40 m
- including 6.45 gpt over 2.23 m
- GF10-136:
- 11.8 gpt over 5.52
m
- including 24.16 gpt over 2.57
m
- GF11-140:
- 3.14 gpt over 10.84 m
- including 7.36 gpt over 3.99 m
Howard Bird, Brigus� Vice President of Exploration,
said, �These are some of the best drill results to date from the Contact Zone
at the Black Fox Complex. We are particularly encouraged by the high grade
gold mineralization over wide intervals. Over the past year, drilling
has tripled the strike length of the Contact Zone to 1.2 kilometres
with the deepest gold mineralization to date intersected at approximately 350
m from surface. Significantly, the Contact Zone remains open along
strike and at depth. The proximity of the Contact Zone to the Company�s
operating Black Fox Mine provides an opportunity for rapid project
advancement and production growth leveraging the Company�s existing
infrastructure.�
The current exploration program is designed to expand gold resources while
also testing new high priority targets within the Black Fox Complex.
Three drill rigs are testing the Contact Zone, the Historic Gibson
Deposit, Gibson South, the School House Zone, Hislop North and the new Grey Fox South discovery.
During January 2011, Brigus also commenced
drilling on the Black Fox Mill property, host to the past producing Stock
gold mine, located 31 km west of the Black Fox Mine.
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 general dip of the feature is 78 degrees to the east with
horizontal widths varying from 3.5 m to 35 m.
Drill holes GF10-131, 133, 136 and 140, highlighted above, were drilled
within approximately 400 m of strike length in the central portion of the
Contact Zone. The positive drill results continue to confirm consistent
down dip continuity of significant gold mineralization.
Drill holes GF10-116 and 147, highlighted above, were
drilled along strike in the southern portion of the Contact Zone. The
positive gold intersections are significant since, together with previously
reported hole GF10-114 which returned 12.1 gpt gold
over core length 12.3 m, drilling is defining a potential higher grade zone
of gold mineralization located approximately 400 m along strike from the
central portion of the Contact Zone.
Assay results over 2.0 gpt gold are listed in
Appendix 1 and a drill-hole location map is included in Appendix 2 of the
news release PDF posted on the Company�s website at www.brigusgold.com.
Surface drilling was conducted by Norex Drilling
and was supervised by the Black Fox exploration staff. 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 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. 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 Contact Zone, add to the Black Fox gold mineral resource, the
timing for advancement of the Contact Zone into production, leverage projects
with the existing infrastructure, 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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