QualityStocks would like to highlight Brigus Gold (NYSE Amex: BRD), 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 has completed a transaction to sell a 75% interest in the Ixhuatan Project located in the state of Chiapas to Cangold. In the Dominican Republic, Brigus has signed an agreement to sell its remaining interests in three mineral exploration projects.
In the company’s news yesterday,
Brigus Gold Corp. announced that its exploration drilling operations on the southern portion of the Black Fox Complex in the Timmins Mining District, Ontario, Canada, continues to return high-grade gold assays from the 147 Zone.
The company reports that the program is on track with drilling progress and expansion expectancies.
“The Black Fox exploration program is advancing as planned and on schedule. To date, Brigus has drilled over 126,000 metres on the 147 and Contact zones with significant results that include 21 grams per tonne over 25.0 metres,” Howard Bird, Brigus’ vice president of exploration stated in the press release. “The $8 million program in 2012 is designed to convert Inferred ounces to Indicated ounces through systematic in-fill drilling as well as to expand the resource.”
Brigus’ initial resource estimate for the 147 and contact zones, announced in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex; the company plans on releasing an updated resource estimate later this year.
To date, the company has systematically explored 25 percent of the Black Fox Complex, acknowledging significant upside potential remains on the property, which spans approximately 18-square kilometers.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
