HALIFAX, Nova Scotia - (Business Wire) Brigus Gold Corp. (?Brigus? or the ?Company?) (TSX: BRD) (NYSE Amex: BRD) is making steady progress towards the commencement of commercial production from underground operations at its Black Fox Mine in the Timmins Gold District, Ontario, Canada.
Underground ore production from new mining stopes is expected to exceed 250 tonnes per day (?tpd?) by March 15, 2011, ramping up to an average of 800 tpd in the second quarter of 2011 (?Q2 2011?) and to 1,100 tpd by the fourth quarter of 2011 (?Q4 2011?). The higher grade underground ore will augment production from the Black Fox open pit, resulting in projected increases in quarter-over-quarter gold production for 2011.
Underground Development Update
Construction of the ventilation and service raise, which includes the secondary egress manway, was completed on February 12, 2011. The associated underground services, including fans, heaters, compressed air and power supply are undergoing final connection and commissioning. The connection to the upgraded power supply, serving the underground operations, will enable increased utilization of major mining equipment and result in an acceleration of development progress. Several other systems including radio communications, have been installed and are functioning.
Immediately following the commissioning of the ventilation and service raise, the old infrastructure will be removed. The removal of the old infrastructure is expected to be completed by March 15, 2011, following which ore mining and production will recommence in the open pit. During this period, Brigus will continue to process existing stockpiles of lower grade ore (~1.4 gpt) at the 2,000 tpd Black Fox Mill. Overburden removal for Phase 2 of the open pit commenced in July 2010 and was substantively completed at the end of 2010. Waste mining in Phase 2 of the open pit has progressed well since commencement in December 2010.
The new portal and ramp access is over 80% complete, with only one short section near surface remaining. Brigus' mine team is driving the ramp from surface, while the mining contractor is advancing up from underground. To date, 820 metres have been completed in the new ramp, with the longest section from the 235-metre level to the 140-metre level completed on February 8, 2011. Final commissioning of the new ramp will occur by March 24, 2011.
Underground development continues on both the eastern and western limbs of the ore body. On the east side of the underground mine, ore development has begun on the 260-metre level and the main ore zone has been intersected. The main decline ramp is continuing at depth towards the next mining horizon. On the 260-metre level, multiple ore development headings are currently being advanced in order to establish new working stopes to achieve the commercial production rate of 800 tpd of ore from underground during Q2 2011. The 2011 mine plan is being adjusted to reflect the updated schedule and guidance will be provided following completion and commissioning of the portal and ramp.
Richard Allan, Vice President and Chief Operating Officer, said, ?The ongoing commissioning of the ventilation and service raise is a critical milestone in being able to accelerate the underground development. We are nearing completion and commissioning of the new portal and ramp to allow commercial production to be achieved by the end of March 2011. Our open pit mining will resume normal operations in March 2011 and we look forward to beginning Q2 2011 with both the underground and open pit mines going full bore. We are well positioned to achieve quarterly production increases over 2011.?
Recruiting of the underground workforce has been ongoing since the beginning of the year and is progressing well, with 41 miners hired at Black Fox. Brigus expects to be fully staffed for the underground operations by mid 2011. In the interim period, Brigus will continue to augment its workforce with contract miners.
The Company believes that there is significant upside opportunity for additions to reserves and resources from its ongoing exploration drilling program within the Black Fox Complex, including potential extensions to the Black Fox ore body. Continuing exploration drilling success at the Contact and Gibson Zones and planned 2011 exploration at the former Stock gold mine, located at the Black Fox Mill, provide additional upside potential. Brigus will commence drilling from underground at the Black Fox mine mid year, as the orebody remains open for expansion in several areas.
Qualified Persons
The Qualified Persons who reviewed the technical information of this news release were Richard Allan, P. Eng., Vice President and Chief Operating Officer for Brigus.
About Brigus Gold
Brigus is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates the wholly owned Black Fox Mine in the Timmins gold district of Ontario, Canada. The Black Fox Complex encompasses the Black Fox Mine and Mill, and adjoining Grey Fox-Pike River property, all in the Township of Black River-Matheson, Ontario, Canada. Brigus is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona gold deposits. In Mexico, Brigus holds a 100% interest in the Ixhuatan Project located in the state of Chiapas. In the Dominican Republic, Brigus Gold has a joint venture covering three mineral exploration projects.
Cautionary and Forward-Looking Statements
This news release includes ?Forward-Looking Statements? within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding the ability of the Company to successfully complete the underground infrastructure, including commissioning of a new ventilation raise and portal; to commence underground and resume open pit mining as projected; to increase gold production quarter-over-quarter; to be able to hire sufficient skilled workers; to ensure that the underground contractor meets its schedules; and to be able to add to reserves and resources are forward-looking statements and estimates that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from these forward-looking statements include environmental risks and other factors disclosed under the heading ?Risk Factors? in Brigus Gold's and its predecessor companies' most recent annual report on Form 10-K filed with the United States Securities and Exchange Commission and elsewhere in Brigus Gold's documents filed from time to time with the Toronto Stock Exchange, the NYSE Amex, the United States Securities and Exchange Commission and other regulatory authorities. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
Brigus Gold Corp.
Wendy Yang, 720-886-9656 Ext. 217
Vice President of Investor Relations
ir@brigusgold.com
www.brigusgold.com
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