Profile: Brigus Gold Corp (BRD.A)
20 May 2013
Brigus Gold Corp. (Brigus) is a mining company. The Company is engaged in the extraction, processing, and refining of gold deposits, as well as related activities, including the acquisition, exploration and development of mineral properties principally located in North America. Its sole mining operation is the Black Fox Mine. As of December 31, 2011, the Company was evaluating the Goldfields Project, which hosts the Box and Athona gold deposits. The Company wholly owns and operates the Black Fox Mine, an open pit and underground mining operation located in the Timmins Mining District in the Province of Ontario. During the year ended December 31, 2011, the Company sold 57,001 ounces of gold, and processed 725,541 tons of ore at an average grade of 2.54 grams of gold per ton and an average recovery of 94.2%.
The Black Fox Complex and Mill
The Black Fox mine site is situated 11 kilometers east of Matheson, Ontario and the Black Fox Mill is 20 kilometers west of Matheson, Ontario. Brigus owns two exploration properties adjacent to the Black Fox mine site: Grey Fox and Pike River, which together with the Black Fox mine site, consists of the Black Fox Complex. The Black Fox Complex has a land package of 18 square kilometers extending over a 6.5 kilometers strike of the Destor-Porcupine Fault Zone. The Black Fox Mill property covers 24.7 square kilometers and is located 31 kilometers west of the Black Fox Mine. The mill property extends over 6 kilometers of the Destor-Porcupine Fault Zone. The Destor-Porcupine Fault Zone is a deep break in the Precambrian rocks of the Abitibi Greenstone Belt.
The Black Fox Complex, including the Grey Fox-Pike River properties, consists of 1,761.4 hectares of which: 356.4 hectares are leasehold patents, 733.6 hectares are owned by the Brigus, 129.2 hectares are leased by Brigus, 360.8 hectares where Brigus has surface rights only and 123.3 hectares where Brigus has mineral rights but no surface rights. During 2011, the Black Fox mill processed 725,541 tons of ore (1,988 tons per day).
The Company owns a 100% interest in the Goldfields Project located on the north shore of Lake Athabasca in the northwestern portion of Saskatchewan, Canada. The Goldfields property is situated approximately 55 kilometers south of the Saskatchewan and Northwest Territory boundary and approximately 75 kilometers east of the Saskatchewan and Alberta boundary. The property forms a rough triangle approximately 23.3 kilometers southwest, 17.6 kilometers northeast and 23.3 kilometers southeast of Uranium City, Saskatchewan. The Box deposit is located on a peninsula west of Neiman Bay on Lake Athabasca. The Athona deposit is located approximately 0.6 kilometers southeast of Neiman Bay. The Goldfields property consists of 31 contiguous mining claims plus five mining leases, covering 25,685 hectares in the Beaverlodge Lake area in the Northern Mining District of Saskatchewan. The Goldfields property lies within the Western Craton Tectonic Zone of the Churchill Structural Province. During 2011, a total of 23 drill holes, for a total of 4,441 meters drilled, were completed.
Exploration Joint Venture and Royalty Interest
On October 18, 2011, the Company announced that it had received approval and completed its transaction with Cangold Limited. The terms of the transaction provide Cangold Limited with the option to acquire a 75% interest in Brigus’ Mexican subsidiary that owns the Ixhuatan gold project, an advanced exploration-stage project located in Chiapas, Mexico. On May 25, 2011, the Company announced that it had signed a letter of intent with Everton Resources Inc. (Everton) whereby Everton can acquire the Company’s remaining interest in the Ampliacion Pueblo Viejo, Ponton and La Cueva concessions in the Dominican Republic.
Brigus Gold Corp
Suite 2001, Purdy's Wharf Tower
1969 Upper Water Street
HALIFAX NS B3J 3R7