Brigus Gold Corp. said Wednesday exploratory drilling in eastern Ontario will result in an increased resource estimate of its Black Fox Complex.
The Halifax, Nova Scotia-based company, an unhedged gold producer formerly known as Apollo Gold Corp., said drilling on the southern portion of the complex continues to return high-grade gold assays from the 147 Zone.
These excellent results expand the 147 Zone and will positively impact the size of the current gold resource, the company said in a statement.
The ongoing drill program continues to successfully increase the size of the gold resource through step-out drilling and is also designed to convert Inferred ounces to Indicated ounces through systematic in-fill drilling. An updated resource estimate will be released mid-year 2012.
An independent initial resource estimate for the 147 and Contact zones released last month added more than 50 percent to the gold resource at the Black Fox Complex, Brigus said.
Norex Drilling is running four rigs in the area as part of Brigus' $8 million surface exploration program.
Brigus is also advancing its Goldfields Project located near Uranium City, Saskatchewan.