VANCOUVER, BC / ACCESSWIRE / January 27, 2021 / Brigadier Gold Limited (the “Company” or “Brigadier“) (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) (the “Corporation“) is pleased to announce the completion of a drone magnetic survey on the Killala Lake Diamond Property (the “Property“). Previous work by the Wahl Group (Rudolf Wahl and Mike Dorval) led to the discovery of the Madonna Diamondiferous dike. Diamonds were first located on the Property in 2006 when Dianor Resources Inc. had Kennecott Canada Exploration Inc.’s Minerals Processing Laboratory complete dense media separation of a 1205.8 kilogram sample of the dike. The sample produced 66 micro diamonds. Subsequent to the recovery of the diamonds the claimholder completed a diamond drill program that intersected the Madonna dike and another dike thought to be genetically related.
Brigadier as an option to acquire a 100% interest in the Property, which consists of forty-six (46) cell claims units located in Killala Lake, Foxtrap Lake Area Townships, Thunder Bay Mining District, Ontario, subject to reservation of royalties in favor of the Wahl Group.
The results of the drone survey have produced interesting magnetic features that will be assessed in the spring by prospecting, sampling and possible stripping. The Property has potential to host additional diamond bearing dikes. The continued exploration of the Madonna dike and other dikes will provide insight on the diamond content, petrography, and minerology occurrences.
National Instrument 43-101 Disclosure
The technical information in this press release has been reviewed by Mr. Garry Clark, P.Geo, a Director of the Company and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“).
The Company also announces that it plans to complete a debt settlement with one creditor (the “Debt Settlement“) to preserve its cash. The Debt Settlement will result in an aggregate of $100,000.00 of indebtedness being retired in consideration for the issuance of a maximum of 454,545 common shares at a price of $0.22 per share. The indebtedness is held by an arm’s length party and will not result in the creation of a new insider or a new control person. The Debt Settlement is subject to TSX Venture Exchange approval. The securities to be issued under the Debt Settlement will be subject to a four-month resale restriction.
About Brigadier Gold Limited
Brigadier was formed to leverage the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement.
Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Brigadier Gold Limited
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