PROBE GOLD INC. (TSX: PRB) (OTCQB: PROBF) (“Probe” or the
“Company”) is pleased to present the third set of results
from the 2023 Monique drill program on its 100%-owned Novador
property (the “
Property”) near Val-d’Or, Quebec.
The results from twenty-five (25) drill holes, totaling 9,940
metres, reveal significant high-grade mineralized intersections
along strike, at depth, and inside the modeled Monique gold zones
from surface to a depth of 450 metres (refer to Figure 1 and the
table of selected drill results below). The new results show
impressive gold grades and thicknesses, continuing to demonstrate
growth and strong continuity of gold mineralization at the Monique
deposit. The Monique Gold Trend zones remain open along strike and
at depth.
David Palmer, President and CEO of Probe, states
“ Our 2023 Monique expansion program continues to emphasize both
the substantial potential for ongoing expansion and the enhancement
of the development project as we generate additional ounces within
the existing conceptual pit shell. We have accelerated our
expansion drilling program this year in anticipation of an Updated
Resource in the latter half of 2024, and we are also progressing
rapidly on our Updated PEA, slated for release in the first quarter
of 2024. These pivotal milestones for 2024 will significantly
elevate the value of our project by showcasing both current
production growth in the new PEA and future production expansion in
the Updated Resource. Beyond Novador, we are actively advancing
several other strategic assets to unlock value for our
shareholders, including Detour, Croinor, and our Casa Berardi-trend
properties, where work programs are in progress or have recently
been completed and results are pending. We are in the enviable
position of being able to advance our projects and build value as
we approach the new year, and brighter prospects, ahead.”
Twenty (20) expansion and infill holes drilled
to identify or confirm in-pit mineralization returned gold
intercepts over 0.42 g/t Au, which is above the cut-off grade used
in the current pit-constrained resource estimate. Seventeen (17) of
these holes returned gold intercepts with a grade times thickness
above 10.0 g/t Au. Five (5) exploration holes drilled south of the
conceptual pit intersected interesting parallel structures in which
two (2) holes returned low grade gold value.
Gold mineralization intersected is mainly
associated with deformation zones that cross the deposit at an
orientation of 280° - 300° and a 75°- 80° dip to the north. This
gold mineralization is defined by a network of
quartz/carbonate/albite/±tourmaline veins and veinlets, along with
disseminated pyrite in the altered wall rocks.
Selected drill results from the 2023 Monique
deposit drilling program are, as follows:
Hole Number |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
Zone |
MO-23-626 |
144.0 |
159.2 |
15.2 |
0.8 |
New/Expan |
MO-23-626 |
211.5 |
212.3 |
0.8 |
44.8 |
New/Expan |
MO-23-626 (cut) |
373.0 |
391.3 |
18.3 |
6.4 |
B/Infill |
MO-23-626 (uncut) |
373.0 |
391.3 |
18.3 |
11.8 |
B/Infill |
Including |
375.5 |
376.3 |
0.8 |
223.0 |
B/Infill |
MO-23-626 |
537.0 |
539.0 |
2.0 |
16.6 |
M/Expan |
MO-23-627 |
347.0 |
353.0 |
6.0 |
4.9 |
B/Infill |
MO-23-628 |
159.0 |
192.0 |
33.0 |
1.3 |
B/Infill |
MO-23-628 |
353.0 |
368.9 |
15.9 |
2.0 |
M/Expan |
Including |
360.0 |
361.0 |
1.0 |
23.4 |
M/Expan |
MO-23-629 |
70.0 |
102.0 |
32.0 |
0.7 |
New/Expan |
MO-23-630 |
152.0 |
154.0 |
2.0 |
9.8 |
A/Infill |
MO-23-630 |
223.0 |
270.9 |
47.9 |
1.9 |
B/Infill |
MO-23-631 |
136.0 |
153.0 |
17.0 |
0.6 |
New/Expan |
MO-23-632 |
250.8 |
255.4 |
4.6 |
2.5 |
A/Infill |
MO-23-632 |
263.0 |
273.8 |
10.8 |
1.6 |
B/Infill |
MO-23-632 |
308.2 |
324.1 |
15.9 |
2.0 |
I/Infill |
MO-23-632 |
447.0 |
457.5 |
10.5 |
2.0 |
M/Expan |
MO-23-633 |
143.0 |
154.0 |
11.0 |
1.2 |
New/Expan |
MO-23-635 |
238.0 |
250.0 |
12.0 |
2.9 |
B/Infill |
MO-23-635 |
348.0 |
349.5 |
1.5 |
9.5 |
New/Expan |
MO-23-635 |
365.0 |
372.0 |
7.0 |
2.4 |
M North/Ex |
MO-23-635 |
393.1 |
421.0 |
27.9 |
3.3 |
M/Infill |
Including |
401.1 |
407.1 |
6.0 |
6.2 |
M/Infill |
MO-23-637 |
122.0 |
141.5 |
19.5 |
1.6 |
New/Expan |
MO-23-639 |
59.0 |
60.5 |
1.5 |
18.9 |
New/Expan |
MO-23-645 |
239.5 |
252.0 |
12.5 |
4.7 |
A/Infill |
Including |
240.5 |
241.5 |
1.0 |
51.1 |
A/Infill |
MO-23-645 |
371.0 |
388.0 |
17.0 |
4.8 |
I/Infill |
Including |
382.1 |
383.1 |
1.0 |
49.3 |
I/Infill |
Including |
386.1 |
387.0 |
0.9 |
25.7 |
I/Infill |
MO-23-645 |
484.0 |
491.7 |
7.7 |
1.9 |
M/Expan |
Including |
484.9 |
485.8 |
0.9 |
11.9 |
M/Expan |
MO-23-646 |
242.0 |
243.0 |
1.0 |
32.7 |
New/Expan |
MO-23-646 |
326.0 |
327.5 |
1.5 |
8.8 |
A/Infill |
MO-23-647 |
25.5 |
27.0 |
1.5 |
6.2 |
A/Expan |
MO-23-647 |
397.4 |
415.8 |
18.4 |
3.4 |
B//Infill |
including |
414.8 |
415.8 |
1.0 |
49.7 |
B/Infill |
MO-23-647 |
467.0 |
470.5 |
3.5 |
3.3 |
I/Expan |
MO-23-647 |
547.5 |
564.0 |
16.5 |
1.8 |
M/Expan |
including |
561.0 |
564.0 |
3.0 |
6.4 |
M/Expan |
MO-23-648 |
83.0 |
103.0 |
20.0 |
1.5 |
J/Expan |
MO-23-649 |
319.0 |
338.5 |
19.5 |
1.6 |
B/Infill |
including |
324.0 |
325.0 |
1.0 |
23.6 |
B/Infill |
MO-23-650 |
249.9 |
257.0 |
7.1 |
1.6 |
A/Expan |
MO-23-650 |
618.3 |
626.3 |
8.0 |
3.2 |
B/Expan |
MO-23-650 |
724.8 |
736.6 |
11.8 |
2.7 |
M/Expan |
including |
726.8 |
728.8 |
2.0 |
8.8 |
M/Expan |
(1) |
All the new analytical results reported in this release and in this
table, are presented in core length and cut to 100 g/t Au when
needed. True width is estimated between 65 to 95 % of core length.
Only grade times thickness above 10.0 g/t Au * m is reported. |
Figure 1: Surface Map – Monique deposit new
drilling results (holes MO-626 to 650)
About Probe’s Novador
Project
Since 2016, Probe Gold has been consolidating
its land position in the highly prospective Val-d’Or East area in
the province of Quebec with a district-scale land package of 600
square kilometres that represents one of the largest land holdings
in the Val-d’Or mining camp. The Novador project is a sub-set of
properties totaling 175 square kilometres hosting three past
producing mines (Beliveau Mine, Bussière Mine and Monique Mine) and
falls along three regional mine trends. Novador is situated
in a politically stable and low-cost mining environment that hosts
numerous active producers and mills.
Val-d’Or properties include gold resources
totaling 3,793,900 ounces in the Measured and Indicated category
and 1,418,700 ounces in the Inferred category along all trends and
deposits.
Qualified Person
The scientific and technical content of this
press release has been prepared, reviewed, and approved by Mr.
Marco Gagnon, P.Geo, Executive Vice President, who is a "Qualified
Person" as defined by National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101").
Quality Control
During the last drilling program, assay samples
were taken from the NQ core by sawing the drill core in half, with
one-half sent to a certified commercial laboratory and the other
half retained for future reference. A strict QA/QC program was
applied to all samples; which includes insertion of mineralized
standards and blank samples for each batch of 20 samples. The gold
analyses were completed by fire-assayed with an atomic absorption
finish on 50 grams of materials. Repeats were carried out by
fire-assay followed by gravimetric testing on each sample
containing 3.0 g/t gold or more. Total gold analyses (Metallic
Sieve) were carried out on the samples which presented a great
variation of their gold contents or the presence of visible
gold.
About Probe Gold:
Probe Gold Inc. is a leading Canadian gold
exploration company focused on the acquisition, exploration, and
development of highly prospective gold properties. The Company is
well-funded and dedicated to the exploration and development of
high-quality gold projects, notably its 100% owned flagship asset,
the multimillion-ounce Novador Gold Project in Québec. Probe
controls a large land package of approximately
1,600-square-kilometres of exploration ground within some of the
most prolific gold belts in Québec.
On behalf of Probe Gold Inc., Dr. David Palmer,
President & Chief Executive Officer
For further information:
Please visit our website at www.probegold.com or contact:
Seema SindwaniVice-President of Investor
Relationsinfo@probegold.com+1.416.777.9467
Forward-Looking Statements
Neither TSX nor its Regulation Services Provider
(as that term is defined in the policies of the TSX) accepts
responsibility for the adequacy or accuracy of this release. This
News Release includes certain "forward-looking statements" which
are not comprised of historical facts. Forward-looking statements
include estimates and statements that describe the Company’s future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to
occur. Forward-looking statements may be identified by such terms
as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information
currently available to the Company, the Company provides no
assurance that actual results will meet management’s expectations.
Risks, uncertainties, and other factors involved with
forward-looking information could cause actual events, results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is
not limited to, the Company’s objectives, goals or future plans,
statements, exploration results, potential mineralization, the
estimation of mineral resources, exploration and mine development
plans, timing of the commencement of operations and estimates of
market conditions. Factors that could cause actual results to
differ materially from such forward-looking information include,
but are not limited to failure to identify mineral resources,
failure to convert estimated mineral resources to reserves, the
inability to complete a feasibility study which recommends a
production decision, the preliminary nature of metallurgical test
results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political
risks, inability to fulfill the duty to accommodate First Nations
and other indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes
in equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of
projects, capital and operating costs varying significantly from
estimates and the other risks involved in the mineral exploration
and development industry, and those risks set out in the Company’s
public documents filed on SEDAR. Although the Company believes that
the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8bd0b84f-09a8-45d6-ad6e-d8b395258488
Probe Gold (TSX:PRB)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Probe Gold (TSX:PRB)
Historical Stock Chart
Von Mai 2023 bis Mai 2024