Brionor Resources Inc.
TSX VENTURE : BNR

Brionor Resources Inc.

June 20, 2011 10:42 ET

Brionor Resources Inc. Announces 43-101 Technical Report and Audited Preliminary Resource Estimate for the Pitt Gold Project as Well as Changes in the Corporation's Management Structure

TORONTO, ONTARIO--(Marketwire - June 20, 2011) -Brionor Resources Inc. ("BRIONOR" ) (TSX VENTURE:BNR) is pleased to announce that it has received a 43-101 Technical Report and Audited Preliminary Resource Estimate ("the 43-101 Report") as prepared by Micon International Ltd. of Toronto, for the Pitt Gold Project located along the Porcupine-Destor Break in the Duparquet gold camp, Abitibi region, Quebec.

Resource Estimate.

Report Highlights:

In preparing the 43-101 Report, Micon used a cut-off grade of 3 grams per tonne ("gpt") gold ("Au") and a capping grade of 35 gpt Au. Minimum block widths of 1.5m were used as representative of minimum widths for underground mining. Indicated Resources totalled 600,000 tonnes grading 7.83 g/t Au (151,000 Au ounces). Inferred Resources totalled 476,000 tonnes grading 6.91 g/t Au (106,000 Au ounces). Please see the tables below for summary results:

Resource
Classification
Vein
Number
Tonnage
Grade (g/t)
Ounces
Indicated1323,0005.7360,000
2277,00010.2791,000
Total600,0007.83151,000
178,0004.0310,000
Inferred2208,0007.7552,000
3190,0007.1644,000
Total476,0006.91106,000

Parameters Used for Polygonal 2011 Pitt Gold Mineral Resource Estimate

DescriptionParameterComments
Cut-off grade3 g/t goldMinimum grade per block for resources.
Minimum block width1.5 mBased on minimum underground mining width.
Dilution0 g/tGrade used to bring blocks up to minimum.
Capping grade35 g/t
Specific gravity2.7
Polygonal size1/2 distance to next drill hole to a maximum of 50 m.
Core lengthMineralization converted to horizontal true width.

The resources come from three distinct east-west trending structures (Veins 1, 2 and 3) which dip steeply to the south, just north of the Porcupine-Destor break, and remain open at depth. A number of economic intercepts, obtained in recent drilling, were not accounted for in the resource estimate (including the best interval ever obtained on the property: 82.94 g/t Au over 4.58 metres). These intervals could be related to new vein structures but additional definition drilling is required to include them as resources.

The 43-101 Report indicates that additional exploration potential is found in the western half of the property, along the Porcupine-Destor break, where Brionor has undertaken no exploration work to date, and along a parallel structure that crosses the northern portion of the property, the Lepine Lake fault, where previous operators cut a number of anomalous to sub-economic gold intercepts below the Timiskaming sedimentary cover.

The western half of the Pitt Gold property was drill tested historically by previous operators with a number of shallow drill holes rarely exceeding the 200 metre level. As a result several of these holes were not deep enough to test the mineralized horizon below the Timiskaming sedimentary cover (post mineralization). This area therefore, remains virtually open for exploration below the 200 metre level. It should be noted that the mineralization hosted in the Pitt Gold deposit is located entirely below this level.

Of Note, the Lépine Lake fault area, below the Timiskasming cover, was tested by a limited number of holes by past operators (less than 10 holes). Soquem obtained 5.43 g/t Au over 1.2 metres (hole 1299-01-01) and 0.6 g/t Au over 14.9 metres (hole 1299-01-02), while Lacana Exploration cut 7.54 g/t Au over 1.06 metres (hole 88-11). These intercepts and others define a broad gold anomalous corridor almost 2 km in length.

The 43-101 report recommends continued exploration, including drilling to test the numerous targets that remain untested both along strike and at depth on the property.

Management and the Board of Directors of Brionor are very pleased with the positive nature of the results of this preliminary assessment of the Pitt Gold property. "This preliminary modest resource at Pitt Gold is the result of very good work by our technical team in developing a sound geological model for the complex gold bearing structures that make-up this deposit." Future work will aim at defining further resources both along strike and at depth as well as testing the numerous other targets on the property that are as yet untested.

Bill Lewis of Micon International, responsible for the report, is a qualified person as defined by National Instrument 43-101. He has reviewed and approved the technical content of this press release.

Brionor is also pleased to announce changes to the management of the company whereby effective immediately, Mr. Lewis Lawrick has been appointed President and CEO, and Mr. Robert Ayotte has been appointed Executive Chairman. Both Mr. Ayotte and Mr. Lawrick are Board Members and co-founders of Brionor. Further, and in line with these changes, day to day operations have been centralized to Mr. Lawrick's offices in Toronto where business development, administrative services, accounting, and technical services will be facilitated. The Board of Directors believes that at this point in Brionor's evolution such changes will expedite it's growth and development through management in Canada's financial capital. Brionor's Head Office will remain in Montreal, Quebec.

Brionor is a junior mining exploration company with a portfolio of exploration projects including the 100% owned Pitt Gold Project in Quebec.

Cautionary Note

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Brionor's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Brionor, or its management, are intended to identify such forward-looking statements. Many factors could cause Brionor's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward- looking statements. The forward-looking statements included in this press release represent Brionor's views as of the date of the release. While Brionor anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Brionor or persons acting on its behalf are expressly qualified in their entirety by this notice.

Neither 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 release.

Contact Information

  • Brionor Resources Inc.
    Lew Lawrick
    President and CEO
    647-478-5307

    Brionor Resources Inc.
    Robert Ayotte
    Chairman
    450-441-9177
    info@brionor.com