QualityStocks would like to highlight Brigus Gold Corp.(NYSE: BRD), engaged in the exploration, development, extraction, processing, and refining gold mineral deposits primarily in Canada. Brigus produces gold and silver. The company owns 100% interests in the Black Fox Mine that covers 1,225 hectares and is located to the east of Matheson, Ontario. It also has 100% interests in the Goldfields Project, which covers 25,685 hectares and is located near Uranium City in northwest Saskatchewan, Canada.
In the company’s news yesterday,
Brigus Gold announced further high-grade gold assays from the 147 Zone at the company’s 100% owned Black Fox Complex, having turned up some really nice data during the most recent exploration and in-fill work done during the ongoing 2012 drilling program. The Complex itself sits in the heart of Ontario’s prolific Timmins Mining District and is an ideal location to be operating logistically, geographically, and with regard to permitting.
Great news for BRD’s operations at the 7 sq. mile Black Fox Complex, which also holds both the open-pit/underground Black Fox Mine (some 3k acres), as well as the Black Fox Mill (some 5.6k acres). The drill hole data coming out of the 147 Zone, which is just southeast of the Black Fox Mine near the historic Gibson deposit and rests just off the edge of the similarly attractive Contact Zone, shows some great results that further validate previous findings.
Top highlights out of the data show exceptional intervals (average gold grades capped at 100 g/t), like 8.95 g/t Au over 32.8 feet (including an impressive 27.04 g/t Au over 9.8 feet), and on up to the likes of 7.65 g/t Au over 183 feet (including 13.08 g/t Au over 91.8 feet). We have some serious mineralization at the 147 that will push the resource estimate for 147/Contact up beyond the already 50% increased initial estimate from December of last year. This is a proximal near-term growth opportunity that should delight existing shareholders and potential investors alike, offering bountiful expansion beyond currently producing activity at the mine.
While intercepts cited do not necessarily represent true widths, the circumspect surface drilling carried out under company supervision by Norex Drilling and the subsequent, fully quality controlled (including insertion of blanks, duplicates, and standards) fire assay work done by Polymet Labs (ISO 9001:2000 certified) out of the nearby town of Cobalt, ensures a great deal of accuracy. Senior Exploration Project Manager for BRD, John A. Dixon, P. Geo., acted as the Qualified Person for analysis of the data contained in the report.
Senior VP of Exploration for BRD, Howard Bird, spoke warmly of the continued ability of the 2012 drilling program to successfully convert Inferred ounces to Indicated, while further mapping out the 147/Contact footprint which remains completely open for expansion. Bird threw a spotlight on the fact that deep drilling results validated the geological profile with solid down-dip continuity from the surface. With “excellent results” at approximately 1,300 feet down, the updated NI 43-101 estimate slated to come out next month should hold further indicators as to the true potential of the new southern Zones.
The 820-foot core of the 147 Zone is populated by quartz carbonate brecciated structures that hold the majority of the gold and should provide a nice easy target for future expansion of the Black Fox Complex.
Dovish FOMC notes have pushed metals higher in recent trading and the outstanding sovereign debt issues related to the need for further QE here or in Europe are strong long-term indicators for the future of the yellow metal in particular. It’s a perfect economic storm for mounting shareholder value at precious mineral developers like Brigus who have boots on the ground. All indicators point towards central banks and the average investor, even consumers, developing an increasing appetite for gold as we move forward.
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