Welcome!

News Feed Item

Brigadier Gold Limited Signs a Letter With a Shareholder of Mexican Copper Mines (Guernsey) Ltd. to Acquire Additional Cuatro Ciénegas District Properties in Mexico

TORONTO, ONTARIO -- (Marketwired) -- 02/19/14 -- Mr. Grant Hall reports:

Brigadier Gold Ltd. ("Brigadier") (TSX VENTURE:BRG) has signed a letter with a shareholder of Mexican Copper Mines (Guernsey) Ltd. ("Mexican") that sets out the terms and conditions with which Brigadier will acquire 70% of the outstanding shares of Mexican which owns through its subsidiary Molycomex S. A. de C. V. an undivided right, title and interest (the "Acquisition") in 5 additional Cuatro Cienegas District mineral properties in Mexico (the "Assets") through the subsidiary Molycomex S.A. de C.V.

Brigadier will issue 20,000,000 consolidated treasury shares (following a consolidation of its outstanding shares on a 10 for one basis, to be presented to a special shareholder meeting), subject to the approval of the TSX Venture Exchange. In addition, Brigadier will issue warrants with the following terms:

(a) If Brigadier obtains, within three (3) years from completing the Acquisition, a report prepared in conformity with the requirements of National Instrument 43-101 ("NI 43-101") disclosing that the Assets contain 200,000 tonnes of ore, with a grade of not less than 1.5% copper equivalent, then the warrant holder may exercise the warrant and acquire that number of shares which, when multiplied by the twenty (20) day prior weighted average market price of Brigadier's consolidated shares, equals a value of US$1,000,000;

(b) If Brigadier obtains, within four (4) years from completing the Acquisition, a report prepared in conformity with the requirements of NI 43-101 disclosing that the Assets contain 500,000 tonnes of ore, with a grade of not less than 1.5% copper equivalent, then the warrant holder may exercise the warrant and acquire that number of shares which, when multiplied by the twenty (20) day prior weighted average market price of Brigadier's consolidated shares, equals a value of US$1,500,000;

In connection with the Acquisition, Mexican Copper Mines (Guernsey) Ltd. has agreed to amend the terms of a 5 year 12% US$2,250,000 debenture issued by Molycomex S.A. de C.V. to it, such that the debenture shall become convertible at a price of $0.25 CAD per share, at the option of Mexican Copper Mines (Guernsey) Ltd.

Subject to Exchange approval, Brigadier Gold will pay a finders fee to an unrelated third party in connection with this transaction by the issuance of 2 million post consolidated shares in the Company subject to TSX Venture Exchange approval.

Concurrent with the completion of the Transaction, Brigadier will complete a private placement of its Consolidated Shares to raise a minimum of US$2,000,000 and a maximum of US3,000,000 at a price of $0.25 CAD per Consolidated Share, subject to the consent of the TSX Venture Exchange.

About the Assets

The properties are situated in the State of Coahuila, Mexico, almost adjacent to Brigadier's Granizo and Don Indio Properties, some 50 km southeast of the town of Cuatro Cienegas. The Properties lie along the foot of the Sierra San Marcos y Pinos range and are composed of 5 concessions, totalling 14,859 ha, namely: the Apache 4, Apache 14, San Antonio, Jabali and Jabali 2 concessions. The Apache 14, San Antonio, Jabali and Jabali 2 concessions all fall within the Apache 4 concession. Mexican Copper Mines has a 100% interest in the Apache 4 concession and a 70% interest in the Apache 14, San Antonio, Jabali and Jabali 2 concessions. There are 3 additional concessions, which lie within the Apache 4 concession that are not owned by Mexican Copper Mines, namely the Martha (210 ha) and the two El Ojito claims (43 ha and 83 ha respectively).

On the Mexican Copper Mines' Properties, stratabound copper-silver mineralization occurs within arenites and arkoses at the top of the Lower Cretaceous San Marcos Formation, just below a zone of carbonaceous beds grading into limestones of the Lower Cretaceous Cupido Formation. The stratabound Cu-Ag mineralization can be traced in outcrop for some 40 km northwest to southeast and has an, as yet, undefined down-dip extension to the northeast. The mineralization occurs in 1.7 m- to 5.69 m-thick, concordant layers referred to as "mantos". The mantos carry Cu and Ag minerals, (predominantly supergene chrysocolla, malachite, azurite and tenorite). Small amounts of primary copper sulphide minerals, such as chalcocite and argentite, occur within the quartz cement of the arenites, Exploration during 2012 revealed mantos carrying grades of 0.2 to 18.0 % copper and 2 to 592 g/t silver.

There are presently five main showings on the Mexican Copper Mines' Properties, namely: the Buena Suerte, San Antonio, Ojitos, Emes and Las Juanitas showings. The Buena Suerte and San Antonio showings are currently the primary exploration targets.

The San Antonio and Buena Suerte showings are part of one continuous manto, which has a thickness of 1.4 to 4.25 m and has been traced continuously along strike for 1.2 km. Calculated weighted sample averages from the San Antonio-Buena Suerte manto indicate grades of between 0.02 to 4.91% Cu and 1 to 51 g/t Ag. Localized sample intervals show enrichment in Cu and Ag: a 0.48 m zone of 4.26% Cu, a 0.75 m zone of 5.77% Cu, a 0.70 m zone of 14.9% Cu and 91 g/t Ag, a 0.79 m zone of 5.87% Cu, and a 0.85 m zone of 159 g/t Ag. The down-dip extent of this manto remains open for the San Antonio and Buena Suerte showings.

The Ojitos showing, discovered in 2011, has a mineralized thickness of 0.5 to 5.69 m, with calculated weighted trench-sample averages ranging from 0.03 to 3.66% Cu and 1 to 583 g/t Ag. Locally, mineralized zones show enrichment in Cu and Ag: a 0.80 m zone of 18.05% Cu, a 1.30 m zone of 9.79% Cu, a 2.49 m zone of 6.93% Cu, a 0.64 m zone of 16.75% Cu and 592 g/t Ag, a 0.66 m zone of 5.81% Cu and 197 g/t Ag, and a 0.70 m zone of 583 g/t Ag.

Some 1.5 km northwest of Ojitos is the Emes showing, also discovered in 2011. A grab sample from this manto carried 2.65% Cu and 48 g/t Ag.

The northernmost showing on the Mexican Copper Mines' Property is Las Juanitas. This showing is situated stratigraphically deeper than the above-mentioned showings (within the L. Cretaceous San Marcos Formation). The manto has a thickness of 0.4 to 2.0 m and grades 0.01 to 2.83 % Cu and 1 to 63 g/t Ag. Locally, mineralized zones show enrichment in Cu and Ag, including a 0.5 m zone of 2.83% Cu and 63 g/t Ag. The down-dip extension, as with the other showings, is yet to be defined by drilling.

It is postulated that these Cu-Ag bearing mantos were generated when deep, hot, oilfield basinal brines leached Cu and Ag (plus a spectrum of other elements including Zn, Pb) from sedimentary and igneous rocks. During an orogenic phase, these hot, metalliferous brines migrated towards the surface through the Cretaceous strata. The fluids then encountered an oxidation/reduction boundary in the Lower Cretaceous strata and thus Cu and Ag sulphides were precipitated. Subsequent interaction with oxidizing ground waters partially broke down the metal sulphides and deposited the secondary copper and silver minerals.

Sediment-hosted copper deposits are traditionally classified into two types: the Kupferschiefer type and the redbed type. The Cu-Ag deposits of the Cuatro Cienegas area belong to the latter redbed type. Elsewhere in North America redbed copper deposits, similar to those around Cuatro Cienegas, occur at Las Vigas (Chihuahua, Mexico), Spar Lake (Montana, USA), Rock Creek and Montanore (Montana, USA), and Creta (Oklahoma, USA). Evidence from recent exploration reveals characteristics of the Cu-Ag deposits on the Mexican Copper Mines' Properties which bear many striking similarities to the deposits of the Copper Belt of Zambia and the Democratic Republic of the Congo, which have to date produced in excess of 1 billion tonnes of copper metal from ores with an average grade of approximately 2.7% Cu, together with significant quantities of Ag.

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 Madero property was written by Dahrouge Geological Consulting Ltd. and dated December 11, 2013. It is being filed on www.sedar.com, on Feb 19th, 2014, with this press release. William R. Gilmour, BSc, PGeo, of Discovery Consultants of Vernon, BC, 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.

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.

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
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...