Click here to close now.




















Welcome!

News Feed Item

Brigadier Gold to Acquire 80% Interest in Second Mozambican JV, and Raise $600,000 in a Private Placement

TORONTO, ONTARIO -- (Marketwire) -- 01/29/13 -- Brigadier Gold Limited (TSX VENTURE:BRG) (FRANKFURT:B7LN) has entered into a binding agreement with MMOC Minerais de Mozambique, Lda., of Maputo, Mozambique, to acquire an 80% interest in a joint venture to exploit additional resource properties located in the Tsiquire-Gorongosa area of Mozambique.

This agreement covers exploration licence 4365C. This particular licence is adjacent to the southwest of exploration licence 3474, the subject of a Letter of Intent to Acquire signed in October of 2012 between Brigadier Gold Limited and Anan Mining Lda and Jacoma Minerais Lda. Both of these properties are located in the Tsiquire-Gorongosa area of Mozambique. Arrangements are being made to produce a National Instrument 43-101 report on the 4365C property and on the 3474 property if and when a formal option agreement is obtained.

Under the agreement, Brigadier will issue 3,000,000 common shares and pay an initial $25,000 upon exchange approval of the transaction. Thereafter Brigadier will pay a further $475,000 over the next 48 months and expend $2 million on the properties over that period as well.

Brigadier is also announcing a private placement to finance this project and add to working capital. The placement will be up to $600,000 by issuing Units at $0.05 per Unit, where each unit consist of one common share and one half of a 24 month warrant exercisable at $0.10 per share.

Brigadier is negotiating to revise the Letter Of Intent regarding exploration licence 3474 announced last October to obtain more favourable terms as the December 20, 2012 date for an definitive agreement has passed. Negotiations are progressing favourably and Brigadier Gold Limited hopes to announce a definitive agreement on this valuable property in the very near future.

The Tsiquire-Gorongosa area of Mozambique is located near the town of Gorongosa, in Sofala province.

Gold mineralization has been discovered and is being exploited by artisanal miners on the Tsiquire property (exploration licence 3474) over an area with a 2.7-kilometre east-west and one-kilometre north-south extent. In total, 41 samples were collected (from the Tsiquire property) in October, 2012, in addition to the samples collected in June, 2012, during the initial property visit. The highest gold values were 170.8 grams per tonne, 86.5 g/t, 80.6 g/t, 69.3 g/t and 58.4 g/t gold. (see news release dated November 6/2012). The above samples were collected at the large, widely separated artisanal workings on the property. The sampled area comprised 1.2 square kilometres within the 25.6-square-kilometre Tsiquire property.

Six hand-dug open pits, up to 20 metres in depth and over several hectares in total area, have been excavated within the five artisanal areas. These pits, located as a result of the discovery of high gold values in soils and vein-quartz float, have been developed in areas amenable to easy extraction and are not necessarily indicative of better gold grades. At the largest of these pits, an extensive stockworks zone may have contributed to the positive relief, which aided both in the discovery and subsequent exploitation of the gold veins. Quartz float at Tsiquire is also found well away from the current diggings over an area of several square kilometres, with the full areal extent of the float yet to be defined. Quartz veining and stockworks ranging in thickness from millimetres to centimetres are readily apparent within the open pits. As well, the diggings are separated by drainages containing placer workings upstream from the pit areas, indicating as yet undefined mineralization.

An independent geologist will now carry out a more detailed examination of the property. Artisanal workings are also reported in the area, but the location and extent of these workings have yet to be determined.

Denis Hayes, President of Brigadier commented "The acquisition of this licence paves the way for Brigadier Gold to establish an even larger footprint in the a very favourable gold mining district in Mozambique. This new acquisition is very similar to licence 3474 with several artisanal mining sites located on the property. We look forward to the successful exploration and development of this and other properties in the area."

The Mozambican government is firmly committed to encouraging foreign investment in developing Mozambique's mining industry. To this end, a new mining and exploration policy has been implemented with the revision of the mining law and regulations. The new act and regulations have streamlined the licensing procedure, and introduced reasonable minimum constraints on prospecting and mining activities, which have provided security of tenure and created a more favourable investment and exploration environment.

Qualified person and quality assurance/quality control

Thomas H. Carpenter, BSc, PGeo, of Discovery Consultants 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. Samples collected by Mr. Carpenter during a June, 2012, site visit were sealed and shipped via bonded courier to the facilities of Acme Analytical in Vancouver, B.C., for analyses. Acme's quality control system complies with International Standard ISO 9001:2000 requirements. Analytical accuracy and precision are monitored by the analyses of reagent blanks, reference materials and replicate samples. Quality control is further assured by the use of international and in-house standards.

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...