Highlights:
- Over $4 Million Funding in Place
- Well Positioned Precious Metals Explorer with Very Experienced Management.
- Promising Properties Under Development in Canada and Mexico.
- Drill Program is Fully Funded with $4.2 Million Raised Since June 2020.
- Recent Settlement Resulting in $100K of Indebtedness Retirement.
- Latest Drilling and Surface Sampling Results Indicate Primary Vein System Contains Over 7 Kilometres of Robust Mineralization in Gold & Silver.
Brigadier Gold Limited (OTC: BGDAF) (TSXV: BRG) (FSE: B7LM), is based in Vancouver, BC, was formed to leverage the next major bull market in the natural resource sector, particularly precious metals. The BGADF company mandate is to acquire undervalued and overlooked mining projects with demonstrable potential for advancement. Led by a management team with over 100 years of collective experience in mineral exploration and capital markets development, BGADF is focused on advanced exploration opportunities in politically stable jurisdictions with current operations in Mexico and Canada.
BGADF is currently focused on a first-ever diamond drill program on its 100% controlled Picachos project in mineral rich Mexico, targeting mineralized veins underneath and surrounding the historical high grade San Agustin gold mine located on the property. The BGDAF diamond drill program, led by veteran geologist Michelle Robinson, is fully funded with $4.2 million raised since June of 2020.
The BGADF Picachos land package was methodically assembled by Michelle Robinson (MASc, PEng, geologist, 43-101 QP) over 10 years ago. Ms. Robinson 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. Ms. Robinson and her team are executing on the company's 5,000-metre diamond drill program — the first ever on this project.
BGADF Adding Second Drill Rig for Commencement of Phase Two Diamond Drilling at Picachos High Grade Gold-Silver Property
On February 19th BGADF announced its planned addition of a second drill rig in connection with the commencement of phase-2 diamond drilling at its Picachos gold-silver project, Sinaloa Mexico. BGADF also intends to complete a private placement for gross proceeds of up to $1,000,000.
The additional rig will help considerably in accelerating the company's investigating of the many high priorities existing and newly identified targets.
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 surfaces and subsurface targets discovered during reconnaissance and mapping.
- Copper porphyry target sampling suggests high priority follow-up exploration.
The BGADF 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 with the same mineralized trend, positions Picachos as a truly exciting opportunity for Brigadier Gold and our shareholders.
BGADF 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 the Picachos and Killalla Lake properties, corporate marketing campaigns, and general working capital purposes.
BGADF Completes Debt Settlement
On February 11th BGADF it has received approval from the TSX Venture Exchange to complete the debt settlement with one arm's length creditor. The Debt Settlement resulted in an aggregate of $100,000.00 of indebtedness being retired in consideration for the issuance of 454,545 common shares at a price of $0.22 per share. The Debt Settlement did not result in the creation of a new insider or control person. The common shares issued under the Debt Settlement are subject to a four-month resale restriction expiring June 12, 2021.
Drone Magnetic Survey on Killala Lake Diamond Property
On January 27th BGADF announced the completion of a drone magnetic survey on its Killala Lake Diamond Property. Previous work by the Wahl Group (Rudolf Wahl and Mike Dorval) led to the discovery of the Madonna Diamondiferous dike. Diamonds were first located on the Property in 2006 when Dianor Resources Inc. had Kennecott Canada Exploration Inc.'s Minerals Processing Laboratory complete dense media separation of a 1205.8 kilogram sample of the dike. The sample produced 66 micro diamonds. Subsequent to the recovery of the diamonds the claimholder completed a diamond drill program that intersected the Madonna dike and another dike thought to be genetically related.
BGADF as an option to acquire a 100% interest in the property, which consists of forty-six (46) cell claims units located in Killala Lake, Foxtrap Lake Area Townships, Thunder Bay Mining District, Ontario, subject to reservation of royalties in favor of the Wahl Group.
The results of the drone survey have produced interesting magnetic features that will be assessed in the spring by prospecting, sampling and possible stripping. The property has potential to host additional diamond bearing dikes. The continued exploration of the Madonna dike and other dikes will provide insight on the diamond content, petrography, and minerology occurrences.