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XMFSinchiruna (26.55)

What 4,165 grams per ton of gold looks like in a drill core



June 22, 2011 – Comments (17)

This incredible bonanza-grade intersect at Brigus Gold's 147 Zone project within the Black Fox complex confirms mineralization at greater depth than had previously been tested in the deposit, and the deposit remains open in all directions.

For your reference 4,165 g/t is equivalent to nearly 134 troy ounces of gold within a ton of ore. 134 ounces of gold carry a current market value of $207,700.

Pay close attention to this deposit and the adjacent Contact Main Zone ... these are Brigus Gold's next producing mines, and their development will occur far faster than the market presently understands. 

17 Comments – Post Your Own

#1) On June 22, 2011 at 12:59 PM, Jbay76 (< 20) wrote:


Amazing picture!

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#2) On June 22, 2011 at 1:47 PM, Gonzhouse (28.65) wrote:

This is a case where a picture is truly worth a thousand (or 207 thousand) words.

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#3) On June 22, 2011 at 2:10 PM, catoismymotor (< 20) wrote:

Please tell me they are not using that as a door stop.

"That is the sexiest thing I have ever seen!" - Saul Bloom, Ocean's Eleven, 2001

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#4) On June 22, 2011 at 2:30 PM, djemonk (< 20) wrote:

> This is a case where a picture is truly worth a thousand (or 207 thousand) words.

Yes, but those are 207,000 worthless fiat words.

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#5) On June 22, 2011 at 2:56 PM, Jbay76 (< 20) wrote:


Only if the g/t findings extend throughout the core for tons at a time.  And in the event it does, given the way we're going, it'll be worth a lot more "worthless fiat words" than that.

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#6) On June 22, 2011 at 4:43 PM, amassafortune (29.12) wrote:

BRD was up 1.2% today and is up another 2.4% after hours. Its $1.72 after hours price is very near to the level it was in June 2009. I'd like to see something similar but in an Alexandria core, please. On the downside, Ontario hunting cabin land is getting a little pricey.

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#7) On June 22, 2011 at 4:56 PM, dcgatlanta (35.20) wrote:

Apologies in advance for going off topic.  I notice Caza Gold has drifted down around 40% since the PM microcap series write up.  Has anything changed in the company's story or is the market just offering a better price?  

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#8) On June 23, 2011 at 8:46 AM, Jbay76 (< 20) wrote:


The volatility that you are witnessing in Caza Gold may be due entirely to the fact that it is a micr-cap with limited shares outstanding.  These compnaies are very volatile, use those dips to your advantage!

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#9) On June 23, 2011 at 8:47 AM, XMFSinchiruna (26.55) wrote:


The latter. As you might imagine, given the that Caza is an early-stage explorer with no resources codified as yet, the stock may be particularly vulnerable to sector-wide selling pressure. The whole sector has been re-priced, and it hit Caza extra hard.

I corresponded with Gregg Williams last week, and he passed along this message from CEO Greg Myers:

Caza projects are on schedule with drilling proceeding at both of the Mexican projects.  We have completed 2 drill holes at Santiago on the road zone target and each was drilled to approximately 350 meters depth.  The purpose of these holes was to test the possible extension of the high grade veins and to test the low-grade much larger target related to the contact zone of the “granite”  with the volcanic rocks, where we have seen assays up to 0.9 grams per tonne gold along the road.  The drilling did cut several narrow quartz veins that contained sulfide minerals but more importantly nearly the entire length of the holes contained strongly altered rock with variable amounts of sulfide minerals.  It will be at least a month before we begin to see any assay results  and we may not have any news coming out until late August once we have been able to look at the assays from several holes and determine what we have.

We have completed one hole at Balleza and have just begun hole number 2.   The first hole was drilled below the 2004 hole by Hochschild to offset the original mineralized intercept so we can begin understanding the target in 3-D.  We have moved approximately 75 m to the north now and are just beginning to test the zone along strike, moving toward the higher grade outcrops.  We are pleased with the results so far and the surface sampling continues to make the target zones larger.  Again we don’t look for any news coming out until August.

We are getting excellent results from the mapping and sampling program in Nicaragua at the Los Andes Project and on the regional play.  We continue to find more zones that were previously unknown and have filed claims on the new areas.  Our regional program has now acquired more than 120,000 hectares and we have identified 6 confirmed high-sulfidation gold systems outside of the Los Andes Project, a possible very large porphyry copper system, and 2 large high-grade epithermal gold systems.  Work at Los Andes has now mapped and sampled approximately 35% of the area and has defined at least 8 high quality gold targets associated with the right assemblage of alteration minerals.  We are very happy with the results to date and it is exactly what we had hoped we would see. 

Overall we feel the market doldrums have set in and no matter what results come out in news releases the markets will not respond positively.  Several companies have released absolutely great drilling results and the stocks have gone down.  We think the overall world economy has everyone on edge and small investors are pulling out of everything. 

I am very happy with our progress and results, but obviously concerned about market weakness and our share price.  There is no factual reason for Caza’s sell off and volumes have really been fairly low.  For me this is a buying opportunity. I am still very excited about our projects.

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#10) On June 23, 2011 at 8:50 AM, XMFSinchiruna (26.55) wrote:


You and me both. :) Akasaba will prove its value in due time.

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#11) On June 23, 2011 at 8:52 AM, XMFSinchiruna (26.55) wrote:

Latest from Brigus, which is essentially public confirmation of the advance scoop I was able to give you guys as a result of my visit.

Halifax, Nova Scotia; June 23, 2011– Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD; TSX: BRD) announces that it will proceed with an initial expansion of the Black Fox Mill, which is expected to be completed, and in service, during the first quarter of 2012.  This initial expansion will increase processing capacity at the Mill to 2,200 tonnes per day (tpd) through optimization of existing mill equipment and elimination of production losses.  The Company has commissioned a Phase 2 mill expansion plan, that if implemented in the future, would increase processing capacity to 3,500 tonnes per day and would include replacement of the existing crushing plant with a semi-autogenous grinding (SAG) mill.
Brigus hired Dan Mackie and Associates (DMA) to provide technical and financial analysis of the expansion of the Black Fox Mill.  Based on recommendations in this report, Brigus will proceed with the following Phase 1 expansion:

The leach circuit at the mill will be upgraded by adding two new and larger leach tanks, in a bunded area designed for four tanks.  The existing carbon in pulp (CIP), carbon in leach (CIL) tanks and carbon columns would be reconfigured allowing for a total of over 30 hours retention, nearly double the current capacity.  The higher retention time allows for a coarser grind to be considered. The addition of two additional tanks will provide sufficient total capacity to accommodate Phase 2 of the mill expansion if the Company proceeds with this in the future. An improved secondary mill feed diverter will be installed to de-bottleneck the flows to the two secondary mills and to assist in handling the higher throughput.  This new configuration will include a “riffle” or “gold trap” as a temporary step in determining the nature of any potential coarse gold that could be handled in a gravity circuit, to be built later, possibly as part of Phase 2. New carbon screens and a carbon fines recovery circuit will be added with the installation of a plate and frame filter and surge tank.  This will significantly reduce the carbon fines losses to tails.  Phase 1 of the mill expansion is expected to cost approximately $9 million with a payback of less than one year.

“Phase 1 of the mill expansion is a logical step in the optimization of our Black Fox Mill,” said Richard Allan, Chief Operating Officer of Brigus. “The significant capacity increase and short payback period make this an attractive investment. The Black Fox Complex has tremendous development potential and this positions us well to capitalize on growth opportunities in the future.”

A decision to proceed with the Phase 2 expansion will facilitate rapid development scenarios from new discoveries within the Black Fox Complex. In conjunction with the Phase 1 mill expansion and continuing exploration success from the Black Fox Complex, Brigus has deferred a production decision on its Saskatchewan Goldfields property as it considers various expansion scenarios at the Black Fox Complex and involving an expanded Black Fox Mill.

Chief Operating Officer Richard Allen, P. Eng., reviewed the technical information in this release as the Qualified Person for the Company.


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#12) On June 23, 2011 at 10:41 AM, engstocker (55.40) wrote:

Was going to pick some up today. Noticed it was down 5%. Any new negative news or just normal price fluctuations?

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#13) On June 23, 2011 at 10:48 AM, XMFSinchiruna (26.55) wrote:


Check the broader market for context.

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#14) On June 23, 2011 at 11:31 AM, cizastro (< 20) wrote:

Thanks, as always, for this incredible info.  Sorry to get off topic, but I was just curious if you've heard any rumblings regarding Alexandria Minerals Corp.  I loved the initial write-up that you gave on them and have noticed that the price has retreated a bit.  Would you consider this a good buying opportunity similar to Caza's situation?

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#15) On June 23, 2011 at 12:07 PM, XMFSinchiruna (26.55) wrote:


I added to my stake just last week. It's my #3 holding out of 123 equities in my portfolio.

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#16) On June 23, 2011 at 12:42 PM, dcgatlanta (35.20) wrote:

Thanks very much for the follow up on Caza Gold.  I'm looking forward to seeing the story develop.  Really appreciate your coverage and analysis!

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#17) On June 24, 2011 at 7:23 AM, skypilot2005 (< 20) wrote:


 Thanks, for the feedback on Caza, BRD and Alexandria.

 Sky Pilot

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