Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE MKT: BRD; TSX: BRD) is pleased to announce a new National Instrument 43-101 (“NI 43-101”) mineral resource estimate for the 147 and Contact zones on the Grey Fox property of the Black Fox Complex, which covers approximately 18 square kilometres within the Timmins Mining District. Highlights of the updated resource estimate include:
|Zone||Indicated Ounces||Inferred Ounces|
Brigus announced an initial resource estimate from Grey Fox in December 2011. The focus of the Company’s exploration drilling program over the last year has been to convert Inferred ounces to Indicated ounces through systematic in‐fill drilling. The new resource is based on a total of 488 holes and approximately 65,000 metres of drilling.
“We have increased the Indicated gold resource at Grey Fox from 116,710 to 480,850 ounces. This is a material increase in the Company’s total Indicated resource and adds substantial value to the Black Fox Complex,” said Howard Bird, Brigus Gold’s Senior Vice President of Exploration. “Both the 147 and Contact zones remain open at depth and the Contact Zone remains open along strike to the north. We are excited about the near term potential to further increase this resource with on-going drilling.”