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XMFSinchiruna (27.97)

How Brigus Gold is Finally Making the Grade

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June 19, 2012 – Comments (6) | RELATED TICKERS: BRD , PPP , AUY

Please enjoy my write-up from the recent return trip to Brigus' Black Fox mine near Timmins, Ontario

http://www.fool.com/investing/general/2012/06/19/how-brigus-gold-is-finally-making-the-grade.aspx

While it's tough to do in the context of these brief articles, I tried to get into the nuts and bolts of the guiding geological considerations between the 2 zones of the orebody.

"The Black Fox mine comprises two distinct ore zones that begged distinct approaches to mining activity. The West Zone is a "shear zone," where gold mineralization associated with vertical deformations in the host rock offers clearer visual guidance to miners and "beat geologists" navigating their daily ore excavations. The East Zone represents a "folded" geological structure that adds a measure of complexity and requires careful 3-D modeling to precisely guide mining activity."

In response to areader's prior question, they do indeed intend to meet Q2 guidance despite the interruption imposed by the nearby wildfires last month:

"Of the handful of active production stopes we visited during the tour, two of them were running in the neighborhood of 20 gpt (and contained visible gold -- see below). Incidentally, that pleasant fact may have contributed to Bilodeau's confidence that his team will still meet Brigus' second-quarter production target despite a multiday outage related to nearby wildfires last month. Brigus is looking for 18,000 to 21,000 ounces of gold production for the second quarter, with further volume improvements to follow on the path toward steady-state production rates by early 2013."

I hope you enjoy the images of the visible gold. The frequency of those occurences really does serve a timely reminder that for all the challenges endured to date, the quality of the underlying underbody has never come into question.

6 Comments – Post Your Own

#1) On June 21, 2012 at 10:54 AM, Dkjaa (< 20) wrote:

Many thanks for all of your hard work and insight into Brigus. As a long term shareholder this has been very helpfull. I think the price we eventually get to will shock people....the math is simple...100,000 ounces per year, less outside interests, is approx 88,000 ounces, assuming 900 per ounce after cash costs gives you 70-80 million in gross cash flow at todays gold price.

Thanks again!

 

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#2) On June 21, 2012 at 12:52 PM, Sturmudgeon (< 20) wrote:

Thanks! seconded...

 

Much obliged... it gets a bit discouraging the way prices on BRG have been acting..

Your insights/blogs certainly help sustain us, Sinch!

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#3) On June 24, 2012 at 10:28 PM, skypilot2005 (< 20) wrote:

http://www.sprott.com/markets-at-a-glance/ministry-of-%5Bun%5Dtruth/

Ministry of [Un]Truth

June 2012

By Eric Sprott & David Bake

Sky 

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#4) On June 25, 2012 at 7:19 AM, skypilot2005 (< 20) wrote:

http://www.primeromining.com/News-and-Events/News-Releases/News-Releases-Details/2012/Primero-Discovers-New-High-Grade-Vein-in-West-Block1129978/default.aspx

Primero Discovers New High-Grade Vein in West Block

06/25/2012

 "Our 2012 exploration program is continuing to deliver excellent results and we look forward to releasing a Reserve and Resource update, based on drilling up to June 30, 2012, during the third quarter," stated Joseph F. Conway , President and Chief Executive Officer. "The discovery of the Alexa vein, the fourth new vein discovered in the last 18 months, supports our theory that there is significant exploration potential within the Sinaloa Graben and West Block regions of the San Dimas district. We are also encouraged that the mineralization continues to appear much higher grade than the average reserve grade of the mine.”

 Sky

Official Web Link Assistant to Sinchi

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#5) On June 27, 2012 at 11:52 PM, skypilot2005 (< 20) wrote:

http://finance.yahoo.com/news/rye-patch-announces-1-28-130000742.html

 

Rye Patch Announces 1.28 Million ozs of Gold in the Measured & Indicated Category & 0.54 Million ozs of Gold in the Inferred Category Contained in an Open Pit Configuration on the Wilco Project

 

6/27/12

Sky

Long Rye Patch 

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#6) On July 13, 2012 at 11:08 PM, charliedawgg (< 20) wrote:

Hi again Sinch. Here yet again to get slightly off topic (or perhaps not since the general topic deals with undervalued miners with great potential). Anyway, can you offer your take on TC's plight lately? I find myself transitioning from the "what a great deal!" mindset to the  "am I throwing money at a sinking ship?" paranoia. As always, your input is greatly appreciated. Thanxx!!

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