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Toronto-based junior miner Brigadier Gold (TSXV:BRG/FRA:B7LM) has announced that the phase-1 exploration at its flagship Picachos high grade gold-silver property in Sinaloa, Mexico has yielded exciting results, confirming their high expectations of the site.

Brigadier’s head geologist Michelle Robinson said: “I don’t think I’ve ever seen this much textural complexity of quartz in one drill hole before. DH-BRG-043 from Punto Cinco is definitely part of a significant mineral chute, and I look forward to interpreting the assay data when it is ready.”

In an earlier podcast with The Armchair Trader, Brigadier set a high bar in terms of expectations for Picachos. Results indicate that what lies beneath the ground is a really rich deposit of gold and silver, with some copper too. According to Brigadier, “it is only just getting started.”

The drilling programme is testing Punto Cinco, a recently discovered outcrop of the Cocolmeca Vein located about 1.2 kilometres north-east of San Antoñio, and which trends for more than seven kilometres along the diagonal of the property. Inspection of the drill core revealed some interesting finds: pervasive silicification with disseminated sulfide that is oxidized to hematite; crustiform quartz veining with sulfides; and cockade breccias in the central part of the structure.

High grade of consistent precious metals mineralisation

The drilling confirms that the vein contains a high grade of consistent precious metals mineralisation, along with meaningful gold and silver content. The drilling also found previously unexplored high-grade gold and silver historic workings and a number of new surface and subsurface targets. As the findings include copper porphyry, follow-up exploration later this year is likely.

To date, 4,538 metres of the planned 5,000 metre phase-1 diamond drill programme has been completed in 43 holes, with assays for 15 holes pending. The results of the assay mean that Brigadier will be kept busy for the next 2-3 months, with at least 20 more holes being drilled, alongside continued project-wide exploration.

The drilling programme follows testing last winter near the San Agustín Mine portal, and under the historic San Antoñio Mine 2.6 kilometres north-east of San Agustín. Earlier this year, Brigadier tested under the historic Guayabo Mine, located 180 metres south-west of San Antoñio.

Brigadier Gold has rehabilitated, mapped and sampled 29 historic mine workings in the central part of the property near the intersection of the ENE trending Cocolmeca Vein system and the north-westerly trending El Placer system. The underground workings are concentrated in two areas named El Cobre and El Placer Norte.

Brigadier also announced that chief executive Ranjeet Sundher will be standing down, though remaining as director, while director Bev Funston will be leaving the company. Sundher will be succeeded by Robert Birmingham, who takes over as director, president and chief executive of the company. The appointment is subject to approval by the TSX Venture Exchange.

Birmingham is currently chief executive and director of Vancouver-based New Destiny Mining Corp. (TSX.V: NED) and director of BIGG Digital Assets (CSE: BIGG), which operates and invests in crypto businesses. He has been on the board of numerous TSX.V and CSE listed companies. In addition to his salary, Birmingham is entitled to a grant of 500,000 restricted share units, which vest six months from the date of grant and expire on April 1, 2024.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

James Norris

James Norris

James is a highly experienced writer and editor, gained from more than 20 years in the financial services industry, in particular wealth management and asset management.

He initially worked as a financial journalist for a number of leading media brands, including the FT Group, Financial News, Euromoney and Incisive Media, covering most aspects of the asset management industry. More recently, James switched to work as an in-house content specialist for fund management and wealth management groups, including JP Morgan Asset Management, Quilter Cheviot Investment Management, AXA Investment Managers and Invesco Perpetual.

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