Announces Non-Brokered Private Placement
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VANCOUVER, BC / ACCESSWIRE / February 19, 2021 / Brigadier Gold Limited (the "Company" or "Brigadier") (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce the planned addition of a second drill rig in connection with commencement of phase-2 diamond drilling at its Picachos gold-silver project, Sinaloa Mexico (the "Picachos Project", "Picachos" or the "Property"). The Company also intends to complete a private placement for gross proceeds of up to $1,000,000.
Ranjeet Sundher, Brigadier's CEO commented: "We continue to make excellent progress at Picachos, although we have only just started to evaluate the potential of this extensive mineralized system. The additional rig will help considerably in accelerating our investigating the many high priority existing and newly identified targets on the Property. The Cocolmeca vein structure (CVS) is persistent and strongly mineralized and we look forward to expanding the depth and strike length in 2021, as well as continuing exploration of the rest of the CVS, particularly in the central Cocolmeca area."
Phase-one exploration results at Picachos provided several highlights, including:
- Confirmed seven-kilometre long vein system of precious metals mineralization
- Widely spaced holes show vein continuity on strike and at depth with robust width
- High grade nature of precious metals mineralization consistently observed in assays
- Confirmed meaningful gold/silver mineralization in hanging wall and footwall of vein systems
- Discovered previously unexplored high-grade gold and silver historic workings
- Multiple new surface and subsurface targets discovered during reconnaissance and mapping
- Copper porphyry target sampling suggests high priority follow-up exploration
The Picachos land package was methodically assembled by Michelle Robinson (MASc., P.Eng., Geologist and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) over 10 years ago. Michelle is a respected industry veteran who has worked in Mexico for over 20-years with a number of major mining companies. She has authored over 20 technical reports and published several papers for the Society of Economic Geologists. Michelle and her team are executing on our 5,000-metre diamond drill program - the first ever on this project
The project's location, situated 25 kilometres equidistant from two recent bonanza grade discoveries of Vizsla Resources and GR Silver and along the same mineralized trend, positions Picachos as a truly exciting opportunity for Brigadier Gold and our shareholders.
The Company also announces a non-brokered private placement financing of up to 5,000,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of up $1,000,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share for $0.30 for a period of one year from the date of issuance. The Company may pay a 7% finder's fee, payable in cash and finder's warrants (each a "Finder's Warrant"), in connection with the Offering, to qualified non-related parties, in accordance with the policies of the TSX Venture Exchange (the "Exchange"). Each Finder's Warrant will entitle the holder to purchase one Common Share for $0.30 for a period of one year from the date of issuance.
Proceeds from the Offering will be used to fund exploration at Brigadier's Picachos and Killalla Lake properties, corporate marketing campaigns and general working capital purposes.
All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval of the Exchange.
Please visit our website to learn more about Brigadier Gold.
National Instrument 43-101 Disclosure
The technical information in this press release has been reviewed by Michelle Robinson, MASc., P.Eng., a Qualified Person as defined by NI 43-101. Core and sample handling procedures are documented in the Company's press release dated October 22, 2020. Standard pulps, field duplicates, pulp duplicates and blanks are inserted into the sample stream. The samples were analyzed by SGS Laboratories in Durango using fire-assay methods for gold, and ICP methods with a 4-acid digestion for silver and base metals. SGS is an accredited laboratory. It is the Qualified Person's opinion that the technical information disclosed in this press release is reliable.
About Brigadier Gold Limited
Brigadier was formed to leverage the next major bull market in the natural resource sector, particularly precious metals. Our mandate is to acquire undervalued and overlooked projects with demonstrable potential for advancement.
Led by a management team with decades of experience in mineral exploration and capital markets development, we are focused on advanced exploration opportunities in politically stable jurisdictions.
For further information, please contact:
Brigadier Gold Limited
Ranjeet Sundher, Chief Executive Officer
Leah Hodges, Corporate Secretary
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Brigadier Gold Limited