Brigadier Gold (BRG.V) has released the assay results of an additional 13 holes drilled on its Picachos gold-silver project in Mexico, and as one could expect from a first pass drill program, the drill results are a mixed bag.
Hole 8 is pretty interesting with a true width of 11 meters containing 2.94 g/t gold and 16 g/t silver and even after isolating the higher grade interval of 2.2 meters (again, true width) of 9.49 g/t gold, the gold value in the residual 8.8 meter interval was 1.3 g/t gold. Low-grade but still worth mining although we would assume the company’s focus would predominantly be on the high grade interval as finding 0.3 ounces of gold per tonne is excellent.
Hole 9 was also still decent. While a true width of 5 meters of 1.55 g/t gold is low, there was a higher grade interval of 1.1 meters containing 6.24 g/t gold and in excess of 2.5 ounces of silver per tonne and despite the relatively narrow width, the gross rock value of in excess of US$400/t (before applying a recovery rate) is definitely good.
We can say the same things about most of the other holes drilled at San Agustin where the mineralization has consistently been confirmed, and as you can expect from an early stage exploration program, some holes did hit economic mineralization (like the 3.1 meters of 7 g/t gold and 110 g/t silver) while others don’t really make the cut.
Brigadier also reported assay results from six holes drilled on the Los Tejones zone which was prioritized for drill-testing thanks to some strongly anomalous values encountered in trenching activities (with 10 meters of 1.85 g/t gold as the most important interval). Unfortunately the assay results from the drill program were disappointing with only low-grade gold and silver values with none of the values exceeding 0.5 g/t. Anomalous, absolutely. Economical, definitely not.
This means the known San Agustin vein will likely continue to be the focus of the ongoing exploration program although we are also looking forward to seeing the assay results of the six additional holes that were drilled based on targets defined by trenching while three holes that have yet to be reported tested the are under the historical San Antonio and La Gloria Mines. The company has published the assay results of only 20 holes so far out of the 28 holes that have been completed and more holes have yet to be drilled as part of this 5,000 meter drill campaign.
In his statement, CEO Ranjeet Sundher commends the pace Michelle Robinson and her team have been able to execute on this drill program. And he’s right. It’s virtually unheard of to see assay results just a few months after a property acquisition, and that’s entirely thanks to Robinson’s work to get the property drill-ready in the private company, which allowed Brigadier Gold to immediately start drilling and following the gold (and silver) in the San Agustin vein.
Disclosure: The author has a long position in Brigadier Gold. Brigadier is a sponsor of the website. Please read our disclaimer.
