The Black Fox Mine is located outside of Matheson, Ontario, Canada in the Timmins Gold District and is 100% owned and operated by Brigus Gold Corp. (TSX:BRD). The Black Fox Mine includes both open pit and underground operations that are running concurrently and the ore is being trucked to the Black Fox mill, which has the capacity to process 2,200 tonnes per day. In 2012, Brigus produced 77,374 ounces of gold at an average grade of 4.04 grams per tonne and has forecasted between 90,000 to 100,000 ounces of gold production for 2013. Brigus also has an aggressive drilling program underway that is testing to identify resource additions from underground and from surface.
Black Fox Gold Stream
Sandstorm has a gold stream agreement to purchase 8% of the life of mine gold produced from Black Fox and 6.3% of the life of mine gold produced from the Black Fox extension (which includes a portion of the Pike River concessions) at US$500 per ounce of gold. Sandstorm made an upfront payment of US$32 million to acquire the stream.