Brionor Resources Inc. ("BRIONOR" ) (TSX VENTURE: BNR) is pleased
to announce that it has received a 43-101 Technical Report and
Audited Preliminary Resource Estimate ("the 43-101 Report") as
prepared by Micon International Ltd. of Toronto, for the Pitt Gold
Project located along the Porcupine-Destor Break in the Duparquet
gold camp, Abitibi region, Quebec.
Resource Estimate.
Report Highlights:
In preparing the 43-101 Report, Micon used a cut-off grade of 3
grams per tonne ("gpt") gold ("Au") and a capping grade of 35 gpt
Au. Minimum block widths of 1.5m were used as representative of
minimum widths for underground mining. Indicated Resources totalled
600,000 tonnes grading 7.83 g/t Au (151,000 Au ounces). Inferred
Resources totalled 476,000 tonnes grading 6.91 g/t Au (106,000 Au
ounces). Please see the tables below for summary results:
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Resource Vein Tonnage Grade (g/t) Ounces
Classification Number
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Indicated 1 323,000 5.73 60,000
2 277,000 10.27 91,000
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Total 600,000 7.83 151,000
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1 78,000 4.03 10,000
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Inferred 2 208,000 7.75 52,000
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3 190,000 7.16 44,000
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Total 476,000 6.91 106,000
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Parameters Used for Polygonal 2011 Pitt Gold Mineral Resource
Estimate
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Description Parameter Comments
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Cut-off grade 3 g/t gold Minimum grade per block for resources.
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Based on minimum underground mining
Minimum block width 1.5 m width.
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Grade used to bring blocks up to
Dilution 0 g/t minimum.
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Capping grade 35 g/t
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Specific gravity 2.7
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Polygonal size 1/2 distance to next drill hole to a maximum of 50 m.
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Core length Mineralization converted to horizontal true width.
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The resources come from three distinct east-west trending
structures (Veins 1, 2 and 3) which dip steeply to the south, just
north of the Porcupine-Destor break, and remain open at depth. A
number of economic intercepts, obtained in recent drilling, were
not accounted for in the resource estimate (including the best
interval ever obtained on the property: 82.94 g/t Au over 4.58
metres). These intervals could be related to new vein structures
but additional definition drilling is required to include them as
resources.
The 43-101 Report indicates that additional exploration
potential is found in the western half of the property, along the
Porcupine-Destor break, where Brionor has undertaken no exploration
work to date, and along a parallel structure that crosses the
northern portion of the property, the Lepine Lake fault, where
previous operators cut a number of anomalous to sub-economic gold
intercepts below the Timiskaming sedimentary cover.
The western half of the Pitt Gold property was drill tested
historically by previous operators with a number of shallow drill
holes rarely exceeding the 200 metre level. As a result several of
these holes were not deep enough to test the mineralized horizon
below the Timiskaming sedimentary cover (post mineralization). This
area therefore, remains virtually open for exploration below the
200 metre level. It should be noted that the mineralization hosted
in the Pitt Gold deposit is located entirely below this level.
Of Note, the Lepine Lake fault area, below the Timiskasming
cover, was tested by a limited number of holes by past operators
(less than 10 holes). Soquem obtained 5.43 g/t Au over 1.2 metres
(hole 1299-01-01) and 0.6 g/t Au over 14.9 metres (hole
1299-01-02), while Lacana Exploration cut 7.54 g/t Au over 1.06
metres (hole 88-11). These intercepts and others define a broad
gold anomalous corridor almost 2 km in length.
The 43-101 report recommends continued exploration, including
drilling to test the numerous targets that remain untested both
along strike and at depth on the property.
Management and the Board of Directors of Brionor are very
pleased with the positive nature of the results of this preliminary
assessment of the Pitt Gold property. "This preliminary modest
resource at Pitt Gold is the result of very good work by our
technical team in developing a sound geological model for the
complex gold bearing structures that make-up this deposit." Future
work will aim at defining further resources both along strike and
at depth as well as testing the numerous other targets on the
property that are as yet untested.
Bill Lewis of Micon International, responsible for the report,
is a qualified person as defined by National Instrument 43-101. He
has reviewed and approved the technical content of this press
release.
Brionor is also pleased to announce changes to the management of
the company whereby effective immediately, Mr. Lewis Lawrick has
been appointed President and CEO, and Mr. Robert Ayotte has been
appointed Executive Chairman. Both Mr. Ayotte and Mr. Lawrick are
Board Members and co-founders of Brionor. Further, and in line with
these changes, day to day operations have been centralized to Mr.
Lawrick's offices in Toronto where business development,
administrative services, accounting, and technical services will be
facilitated. The Board of Directors believes that at this point in
Brionor's evolution such changes will expedite it's growth and
development through management in Canada's financial capital.
Brionor's Head Office will remain in Montreal, Quebec.
Brionor is a junior mining exploration company with a portfolio
of exploration projects including the 100% owned Pitt Gold Project
in Quebec.
Cautionary Note
This news release contains certain forward-looking statements
that involve risks and uncertainties, such as statements of
Brionor's plans, objectives, strategies, expectations and
intentions. The words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to Brionor, or its management, are
intended to identify such forward-looking statements. Many factors
could cause Brionor's actual results, performance or achievements
to be materially different from any future results, performance or
achievements that may be expressed or implied by such forward-
looking statements. The forward-looking statements included in this
press release represent Brionor's views as of the date of the
release. While Brionor anticipates that subsequent events and
developments may cause its views to change, it specifically
disclaims any obligation to update these forward-looking
statements, except in accordance with applicable securities laws.
Accordingly, readers are advised not to place undue reliance on
forward-looking information. All subsequent written and oral
forward-looking statements attributable to Brionor or persons
acting on its behalf are expressly qualified in their entirety by
this notice.
Neither 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 release.
Contacts: Brionor Resources Inc. Lew Lawrick President and CEO
647-478-5307 Brionor Resources Inc. Robert Ayotte Chairman
450-441-9177 info@brionor.com
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