TORONTO, ONTARIO--(Marketwired - Jan. 8, 2014) - Brigadier Gold Limited (TSX VENTURE:BRG) (the "Company") has signed the Definitive Agreement with Santa Fe Metals Corp. that sets out the terms and conditions under which Brigadier will acquire a 100-per-cent undivided right, title and interest in the Cuatro Ciénegas mineral property in Mexico.
Brigadier will pay an aggregate of $882,514 over a 42-month period, of which $625,000 will be paid by the issue of treasury shares having that value on the market as they are issued over that period. Brigadier has the option to accelerate these payments in order to acquire the property in a shorter span of time. The agreement is subject to TSX Venture Exchange approval.
The property consists of six concessions totalling 3,408 hectares, located about two hours northeast of the city of Torreon, in the state of Coahuila, on Highway 30 and about 40 kilometres south of the town of Cuatro Ciénegas.
The Cuatro Ciénegas Property hosts numerous deposits of Cu-Ag (± Pb-Zn) mineralization. These Cu-Ag and Pb-Zn deposits are dominantly stratabound and include thicker mantos, together with occasional, often higher-grade, localized vein/pipe deposits. Mineralization ranges from 2 to 16 metres in thickness and occurs at the contact between the San Marcos and Cupido Formations, over a 17 km distance in the cliffs of the Sierra San Marcos y Pinos.
In 2011, Compañia Minera Coronado S.A. de C.V., a subsidiary of Santa Fe Metals, submitted an EIA for a high grade copper heap leach operation on the Property. This application was approved (MDA, www.sedar.com, March 31, 2011) and is valid for 15 years.
Sample results from some of the numerous showings and artisanal workings on the Property include:
El Pilon with grades to 4.34% Cu and 123.5 g/t Ag (Santa Fe, 2011); Tajo Zanja with reported grades of 2.1 to 5.3% Cu and 19 to 135 g/t Ag; San Marcos West with reported grades of 0.73% Cu and 75 g/t Ag (Stratabound, 1998), and 35.2% Cu, 1.5 to 15.35% Pb, 0.3 to 2.87% Zn and 286 g/t Ag (Santa Fe, 2008).
has reported calculated weighted average grades of 1.22% Cu, 152 g/t Ag, 4.16% Pb and 0.47% Zn (Coronado, 2011) and Pilar Grande, developed on several mining levels, has reported grades increasing with depth from 0.84% Cu and 89 g/t Ag on Level 1 to 3.30% Cu and 118g/t Ag at depth on Level 4 (Coronado, 2011).
These results were obtained by qualified personnel during the preparation of an NI 43-101 report and can be considered accurate. This report on the Cuatro Cienegas property was written by Dahrouge Geological Consulting Ltd. and dated December 11, 2013. It is being filed on www.sedar.com, January 8, 2014, with this press release.
Thomas H. Carpenter, B.Sc., P.Geo., of Discovery Consultants of Vernon, B.C., and a qualified person as defined by NI 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Carpenter is not independent of Brigadier by virtue of being a holder of incentive stock options.
Brigadier will be holding its Annual and Special Meeting of Shareholders on March 31, 2014.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements". All statements, other than statements of historic fact, that address activities, events or developments that Brigadier believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", and "intend" and statements that an event or result "may", "will", "can", "should", "could", or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Brigadier based on information currently available to Brigadier. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Brigadier to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Brigadier. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper and/or gold or other mineral markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits and approvals, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Brigadier disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Brigadier believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.