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
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...