Click here to close now.

SYS-CON MEDIA Authors: Ian Goldsmith, Ed Featherston, Elizabeth White, Pat Romanski, Liz McMillan

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
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. The DevOps Summit at Cloud Expo – to be held June 3-5, 2015, at the Javits Center in New York City – will expand the DevOps community, enable a wide...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
How does one bridge the gap between traditional enterprise storage infrastructures and the private, hybrid, and public cloud? In his session at 15th Cloud Expo, Dan Pollack, Chief Architect of Storage Operations at AOL Inc., examed the workload differences and required changes to reuse existing knowledge and components when building and using a cloud infrastructure. He also looked into the operational considerations, tool requirements, and behavioral changes required for private cloud storage s...
Software is eating the world. Companies that were not previously in the technology space now find themselves competing with Google and Amazon on speed of innovation. As the innovation cycle accelerates, companies must embrace rapid and constant change to both applications and their infrastructure, and find a way to deliver speed and agility of development without sacrificing reliability or efficiency of operations. In her Day 2 Keynote DevOps Summit, Victoria Livschitz, CEO of Qubell, discussed...
Cloud Expo, Inc. has announced today that Andi Mann returns to DevOps Summit 2015 as Conference Chair. The 4th International DevOps Summit will take place on June 9-11, 2015, at the Javits Center in New York City. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at ...