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:
| Hole Number | From | To | Core Width | Gold Assay (Uncut) | *Gold Assay (Cut) | Metal Factor (Uncut) |
| (m) | (m) | (m) | grams/tonne | grams/tonne | grams x width | |
| 645-34-W | 316.90 | 354.70 | 37.80 | 18.09 | 18.09 | 684 |
| including | 329.45 | 339.80 | 10.35 | 39.45 | 39.45 | 408 |
| 645-01-W(1) | 339.65 | 366.40 | 26.75 | 40.71 | 25.99 | 1089 |
| including | 339.65 | 348.00 | 8.35 | 103.20 | 66.30 | 862 |
*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.
Investor Relations Contact Information
Morgan Tyghe
Director of Investor Relations
(416) 214-9867
[email protected]
www.brigusgold.com
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