HALIFAX,
July 9, 2013 /CNW/ - Brigus Gold
Corp. ("Brigus" or the "Company") (NYSE MKT: BRD; TSX: BRD) reports
Q2 2013 production results from the Company's Black Fox Mine.
Operating Results |
Second Quarter 2013 |
Year to Date 2013 |
Tonnes milled |
154,667 |
338,486 |
Tonnes per day |
1,700 |
1,870 |
Average recovery (%) |
94.3 |
94.1 |
Average grade (gpt) |
4.97 |
4.85 |
Gold production (ounces) |
23,304 |
49,620 |
Gold sold (ounces) |
22,490 |
50,308 |
Gold price (US$/ounce)(1) |
$1,382 |
$1,517 |
(1) Excludes the impact
of sales under the Goldstream agreement |
"The second quarter production of 23,304 ounces
of gold is a positive accomplishment for the Company," Said
Daniel Racine, Brigus Gold's
President and Chief Operating Officer. "Despite the temporary
suspension of milling activities during this quarter the Company is
on track to meet its original guidance of 90,000 to 100,000 ounces
of gold in 2013."
Production during the quarter was impacted due
to a temporary suspension of milling activities at the Black Fox
Mill. As previously reported, milling operations were suspended for
20 days due to higher than normal water levels in the holding and
water management facilities. Underground and open pit mining
operations were not affected by the temporary mill suspension and
the Company stockpiled ore which was processed once milling
operations resumed.
The Company plans to release its second quarter
2013 financial results before the start of trading on Monday, August 12, 2013. Senior management will
host a conference call at noon Atlantic Time (11:00 a.m. Eastern Time) on that day to discuss
the second quarter results.
Analysts and other interested parties wanting to
participate in the call should dial 1-877-407-8133 (international
201-689-8040) at least 10 minutes prior to the start of the call.
No pass code is required. The teleconference will be recorded. If
you are unable to join the teleconference live, you can dial for
playback, toll-free at 1-877-660-6853 (international 201-612-7415),
please use conference ID 417707. The event will be archived and
available for replay until midnight on August 26, 2013. The teleconference will also be
accompanied by a presentation made available on the Company's
website at www.brigusgold.com.
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 and Mill in
the Timmins Gold District of Ontario,
Canada. The Black Fox Complex encompasses the Black Fox Mine
and adjoining properties in the Township of Black River‐Matheson,
Ontario, Canada. Brigus also owns the Goldfields Project
located near Uranium City, Saskatchewan,
Canada, which hosts the Box and Athona gold deposits. In the
Dominican Republic, Brigus has signed an agreement to sell its
remaining interests in three mineral exploration projects. In
Mexico, Brigus owns the Ixhuatan Project located in
the state of Chiapas.
Cautionary and Forward‐Looking
Statements
Statements contained in this news release, which are not historical
facts, are forward‐looking statements that involve risk,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward‐looking statements. All statements regarding the ability of
the Company to achieve its production, total cash costs, steady
state annual production and mining rate estimates; estimated
average gold grades for the open pit and underground operations;
increase in gold production; increase in profitability; exploration
drill results and resource additions, are forward‐looking
statements and estimates that involve various risks and
uncertainties. This forward‐ looking statements include, or may be
based upon, estimates, forecasts, and statements as to management's
expectations with respect to, among other things, the outcome of
legal proceedings, the issue of permits, the size and quality of
the Company's mineral resources, progress in development of mineral
properties, future production and sales volumes, capital and mine
production costs, demand and market outlook for metals, future
metal prices and treatment and refining charges, and the financial
results of the Company.
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'
most recent Annual Information Form and Management Discussion and
Analysis filed under the Company's name at www.sedar.com and annual
report on Form 40F filed with the United States Securities and
Exchange Commission at www.sec.gov as well as elsewhere in
Brigus' documents filed from time
to time with the Toronto Stock Exchange, the NYSE Amex Equities,
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.
SOURCE Brigus Gold Corp.