Brigus Gold has delivered an updated mineral resource estimate for its Grey Fox property near Timmins.
In a Sept. 20 release, the Halifax miner has bumped up the ounces on its 147 and Contact zones from 116,710 indicated ounces to 480,850 ounces, with 91.061 ounces inferred.
Grey Fox is part of its larger Black Fox Complex which covers 18 square kilometres.
Senior vice-president of exploration Howard Bird said both zones remain open at depth.
With most of the new resource sitting within 200 metres of where drilling has taken place, the deposit has open pit potential. The company plans to extend and expand both zones in the next phase of drilling over the next year.
“Exploration drilling over the last year has converted a large portion of our inferred gold resource in indicated,” said Brigus president Wade Dawe. “We are confident that the Grey Fox property has the potential to host in excess of one million ounces of gold.”
The Black Fox Complex encompasses the Black Fox Mine and some adjoining properties in the Township of Black River-Matheson in the Timmins Mining District.
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