Vancouver, British Columbia–(Newsfile Corp. – November 2, 2020) – Brigadier Gold Limited (TSXV: BRG) (FSE: B7LM) (OTC: BGADF) (the “Company” or “Brigadier“) is pleased to announce that the first five diamond core drill holes of a 5000 metre, 40-hole program at its Picachos Property (“Picachos“) have intersected the San Agustín vein up to 180 metres below surface. Core from holes BRG-001 to BRG-005 has been received by SGS Labs in Durango. Assays will be made public upon completion of the analytical work.
The 3,954 hectare Picachos Gold-Silver Property is centered over the historic “Viva Zapata” National Mineral Reserve, Sinaloa, Mexico and features 46 veins including San Agustín. The San Agustín mine was the subject of underground channel sampling by a prior operator which returned an average grade of 81.22 grams per ton (g/t) gold (Au) and 73.36 g/t silver (Ag) across 1.2 m (Thunderbird Projects news release dated 18 June 1997). Values of 185 g/t Au were cut across the bottom of a production shaft (sample HBM-73175).
Holes BRG-004 and BRG-005 are collared below the southwestern part of a historic exploration drift accessed from the El Carrito Adit. Underground rock-chip channel sample BRG-120613 from this drift yielded an SGS lab result of 8.02 g/t gold, 63 g/t silver, 446 ppm Cu, 0.3% Pb and 0.5% Zn across 1 metre. Historic underground rock-chip channel sample MCA-29887 from extraction Level 646 contained 125.52 g/t Au and 76 g/t Ag across 1.5 metres. Drill hole BRG-004 is angled at -46 degrees towards the southeast (azimuth 112 degrees) and tested the San Agustin Vein 16 metres below MCA-29887. Anomalous silver that is expected to correlate with gold was identified using a Niton FXL benchtop XRF analyzer at several locations in the hole. The XRF silver anomaly associated with the San Agustin Vein peaks at 86 ppm Ag and occurs between 63 and 76 metres down-hole in BRG-004.
Drill hole BRG-005 is angled at -70 degrees towards the southeast (azimuth 114 degrees). It tested the San Agustin Vein 51 metres below the intercept of BRG-004. The XRF silver anomaly associated with the San Agustin Vein peaks at 68 ppm Ag and occurs between 92 and 115 metres down-hole in BRG-005. The upper part of this silver anomaly is associated with quartz-specularite veining in argillite. The lower part is located at the contact of argillite in the hanging wall, and porphyritic ignimbrite correlated to the Tarahumara Formation in the footwall. This contact is faulted and mineralized with precious metal bearing microcrystalline and crustiform quartz. Panned pulp samples from both quartz-specularite and microcrystalline quartz veinlets show gold.
Cross-Section of San Agustin Vein
To view an enhanced version of this graphic, please visit:
Sample pulps cut every metre or half metre along the core axis were analyzed in the field using a Niton FXL benchtop XRF analyzer for metals and major elements. Rock chip-channel sample line BRG-120613 is 7 metres northeast of (behind) this cross section.
Appointment of Officer
The Company is pleased to announce that Mr. Steve Vanry has been appointed as Chief Operating Officer of the Company.
Mr. Vanry has 25 years of professional experience in senior management positions with public and private companies, providing expertise in capital markets, strategic planning, corporate finance, mergers and acquisitions, regulatory compliance, accounting and financial reporting. His breadth of experience spans various industries, including; mining, oil and gas, renewable energy, high-technology and manufacturing. Mr. Vanry regularly consults for other listed companies in the role of director and/or senior executive. Mr. Vanry holds the right to use the Chartered Finance Analyst (CFA) and Canadian Investment Manager (CIM) designations and is a member of the CFA Institute and the Vancouver Society of Financial Analysts. Mr. Vanry’s appointment is subject to approval by the TSX Venture Exchange (the “Exchange“).
In connection with Mr. Vanry’s appointment, subject to approval by the Exchange, Mr. Vanry is entitled to receive, in addition to his salary, a signing bonus payable by the issuance of 600,000 common shares in the capital of the Company (the “Common Shares“). The Common Shares would be subject to a hold period expiring four months and one day from the date of issuance.
National Instrument 43-101 Disclosure
The technical content of this press release has been reviewed and approved by Ms. Michelle Robinson, MASc., P.Eng., and a Qualified Person as defined by National Instrument 43-101. Core and sample handling procedures are documented in the Company’s press release dated October 21, 2020. It is the Qualified Person’s opinion that the technical information disclosed in this press release is reliable.
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.
For further information, please contact:
Brigadier Gold Limited
Ranjeet Sundher, Chief Executive Officer
Leah Hodges, Corporate Secretary
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67217