Probe Mines Announces Drill Intercept of 16.3 g/t Gold Over 39
Metres at Borden Gold; Commencement of On-Ice Drilling Program and
Regional Exploration Program
TORONTO, ONTARIO--(Marketwired - Feb 10, 2014) -
Highlights:
- Infill drilling within High-Grade Zone ("HGZ") returned the
highest grade interval to date from Hole BL14-573 on Section
1850mSE:
- 39.0 metres averaging 16.3 g/t gold Including 19.4 metres
grading 31.6 g/t gold Including 8.4 metres grading 66.3 g/t gold
Including 2.0 metres grading 238 g/t gold;
- On-ice drilling program commenced with four drills, focused on
expanding the HGZ
Probe Mines Limited (TSX-VENTURE:PRB) ("Probe" or the "Company")
is pleased to announce that it has received results for its
on-going drilling program from the Company's Borden Gold project
near Chapleau, Ontario. Results for ten (10) new infill diamond
drill holes, BL13-568 to BL14-577, and two (2) extended holes
BL13-493 and BL13-567W, were received and were successful in
demonstrating the continuity and consistency of the high-grade gold
mineralization, as well as the significant potential for increasing
grade as drilling continues to define the mineralization to the
southeast. Notably, Hole BL14-573 returned the most impressive
grades observed within the deposit to date with an intersection of
39 metres grading 16.3 g/t Au, including a 19.4 metre interval of
31.6 g/t Au. Importantly, hole 573 was drilled only 150 metres from
the furthest drilled section of the deposit to the southeast
suggesting that the system is still very robust and has
considerable potential for expansion.
The Company is also pleased to announce that its winter, on-ice
drilling program, targeting further expansion of the High-Grade
Zone ("HGZ") of the Borden deposit from Section 2000mSE, has
commenced. Additionally, a regional geophysical program on Probe's
East Limb Project to the East of Borden is currently underway.
High-Grade
Zone
Results from the twelve (12) infill drill holes in the HGZ were
received and continue to show the remarkable consistency of the
zone with significant intersections of thick, high-grade gold
mineralization. Within the results, Hole BL14-573 drilled on
Section 1850mSE returned what is considered to be the most
significant mineralized section observed to date, consisting of a
19.4-metre interval grading 31.6 g/t gold ("Au") within an even
broader mineralized envelope of 39 metres averaging 16.3 g/t. The
importance of this intersection is further enhanced by its location
only 150 metres from Section 2000mSE, the last section drilled on
the deposit leading up to the ice drilling expansion program.
Other highlights from the drill results include the discovery of
a new gold mineralized interval in the extension of Hole BL13-493,
consisting of 3.0 metres grading 14.7 g/t Au; and the expansion of
the gold zone in previously reported hole BL13-567 (see News
Release dated January 7, 2014) from 13.5 metres averaging 6.6 g/t
Au to 44.9 metres averaging 2.5 g/t Au, including 15.3 metres
averaging 4.7 g/t Au in Hole BL13-567W on Section 1950mSE.
The following table shows selected drill results for the HGZ.
Drilling includes the shallow and deep holes necessary to bracket
the gold mineralized structure in order to more accurately define
its boundaries. No top-cut was used in calculating the gold
intervals. The assay data for Hole BL14-573 can be found on the
Company's website at http://www.probemines.com. Although the HGZ
mineralization displays remarkable consistency along strike, it is
anticipated that any future Resource Estimates will employ a
top-cut in their calculation. Depths of the mineralized zones are
between 380 and 660 metres vertical depth. All intervals
approximate true width. Updated plan and section maps for all holes
are also available on the Company's website at
http://www.probemines.com.
High-Grade Zone Drill Results |
DDH |
Section |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
BL13-493* |
2000mSE |
598.0 |
601.0 |
3.0 |
14.7 |
BL13-567W** |
1950mSE |
487.1 |
532.0 |
44.9 |
2.5 |
|
including |
487.1 |
502.4 |
15.3 |
4.7 |
|
including |
492.6 |
502.4 |
9.8 |
6.2 |
|
also including |
525.2 |
530.8 |
5.6 |
4.8 |
BL13-568 |
1950mSE |
491.0 |
509.5 |
18.5 |
2.8 |
|
including |
498.5 |
509.5 |
11.0 |
4.4 |
BL13-568 |
|
525.5 |
538.0 |
12.5 |
3.1 |
BL13-569 |
1900m SE |
470.0 |
503.0 |
33.0 |
2.9 |
|
including |
488.8 |
491.0 |
2.2 |
18.5 |
BL13-570 |
1850mSE |
439.0 |
500.0 |
61.0 |
1.1 |
|
including |
456.3 |
474.2 |
17.9 |
2.3 |
|
including |
461.0 |
468.1 |
7.1 |
3.2 |
BL13-571 |
1850mSE |
481.0 |
521.0 |
40.0 |
1.0 |
BL14-572 |
1800mSE |
480.0 |
492.2 |
12.2 |
4.5 |
|
including |
488.5 |
491.0 |
2.5 |
12.8 |
BL14-573*** |
1850mSE |
458.0 |
497.0 |
39.0 |
16.3 |
|
including |
465.0 |
484.4 |
19.4 |
31.6 |
|
including |
476.0 |
484.4 |
8.4 |
66.3 |
|
including |
480.0 |
482.0 |
2.0 |
238 |
BL14-574 |
2000mSE |
653.0 |
662.0 |
9.0 |
1.1 |
BL14-575 |
1950mSE |
559.5 |
577.2 |
17.7 |
2.7 |
|
including |
564.5 |
572.8 |
8.3 |
3.4 |
BL14-576 |
1800mSE |
510.0 |
520.3 |
10.3 |
2.3 |
BL14-577 |
1850mSE |
515.4 |
538.7 |
23.3 |
1.3 |
|
including |
529.0 |
538.7 |
9.7 |
2.0 |
* |
|
Hole
BL13-493 represents an extension of a previously announced hole
(see NR dated Jan 7, 2014). |
** |
|
Hole
BL13-567W was a wedge hole drilled from a previously lost hole
(BL13-567, see NR dated Jan 7, 2014). |
*** |
|
No
top cut was applied to the assays in Hole BL14-573, however, it is
anticipated that any Resource Estimate calculated from this data
will employ a top-cut for assay sample results. |
On-Ice Drilling
Program
The Company has mobilized four (4) diamond drill rigs onto the
ice of Borden Lake to commence the expansion drilling program of
the HGZ. The drills are targeting the southeast strike extent of
the high-grade gold mineralization delineated from Section 1000mSE
to Section 2000mSE, and will start drilling on Sections 2100mSE,
2200mSE, 2300mSE and 2400mSE, respectively. The Company is hoping
to expand the deposit to at least Section 2600mSE during the Winter
Program, which is highly weather dependent. Encouraging results
from the most southeasterly sections, 1850mSE to 2000mSE, including
the 39-metre interval grading 16.3 g/t Au in hole BL13-573, suggest
a strong potential for expansion of the high-grade zone.
Winter Regional
Exploration Program
As a result of the discovery of the Borden Gold Deposit, the
Company believes there is significant exploration potential in the
previously unexplored Borden Lake Belt. Probe is now applying its
understanding of the Borden deposit to regional exploration and
crews are currently mobilizing to commence a winter ground
geophysical program on selected regional targets. The program will
consist of Induced Polarization ("IP"), Magnetic and Very Low
Frequency ("VLF") geophysical surveys on five separate grids,
targeting six priority areas, which returned coincident Airborne,
Geological and Soil Geochemical anomalies delineated by the 2013
regional exploration program. The program is designed to delineate
drill targets for the 2014 Spring/Summer exploration season. It is
expected that the surveys will take between two and three months to
complete.
Dr. David Palmer, President and CEO of Probe, comments, "Once
again the Borden Deposit has surprised us with even greater
results. Hole BL14-573 is arguably the best hole drilled in the
deposit to-date and is even more encouraging as it occurs only 150
metres from our furthest drilled section to the southeast. This
bodes well for the high-grade expansion program which has just
commenced on Borden Lake and which will follow the high-grade zone
along strike. In addition to what is rapidly becoming one of the
best new gold deposits, the project also has significant upside in
its regional exploration potential. Our regional program is based
on the premise that where you find one deposit you tend to find
others associated with the same mineralizing system, much like the
World-class Timmins gold camp less than two hours to the east of
us. 2014 is shaping up to be a pivotal year and we will continue to
maintain our focus on advancing the Borden Gold project."
Probe has instituted a strict quality assurance and quality
control ("QA-QC") program for the Borden Gold drill core sampling,
with each fire assay furnace batch of 40 samples including two
certified reference materials (standards), one blank sample and one
core duplicate sample. Quality control guidelines and ongoing QAQC
monitoring are being carried out by Probe personnel.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration
company whose key asset is the Borden Gold Zone in Ontario, Canada.
As of October 31, 2013, the Company is well-positioned with
approximately $33.4 million in treasury. The Company is actively
exploring a significant new gold resource on its Borden Gold Zone
near Chapleau, Ontario and has 100% interest in the Black Creek
chromite deposit located in Northern Ontario. The Company's shares
trade on the TSX Venture Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all
technical information in this release. To find out more about Probe
Mines Limited, visit our website at www.probemines.com.
On behalf of Probe Mines Limited,
Dr. David Palmer, President & Chief Executive Officer
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This News Release includes certain
"forward-looking statements". These statements are based on
information currently available to the Company and the Company
provides no assurance that actual results will meet management's
expectations. 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. Actual
results relating to, among other things, results of exploration,
project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and
prospects, could differ materially from those currently anticipated
in such statements for many reasons such as: changes in general
economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational
difficulties encountered in connection with the activities of the
Company; and other matters discussed in this news release. This
list is not exhaustive of the factors that may affect any of the
Company's forward-looking statements. These and other factors
should be considered carefully and readers should not place undue
reliance on the Company's forward-looking statements. The Company
does not undertake to update any forward-looking statement that may
be made from time to time by the Company or on its behalf, except
in accordance with applicable securities laws.
Shares Issued: 75,684,727
Probe Mines LimitedKaren WilloughbyDirector of Corporate
Communications(866) 936-6766info@probemines.comProbe Mines
LimitedPatrick LangloisVice President, Corporate Development(416)
777-6703patrick@probemines.comwww.probemines.com
Probe Gold (TSXV:PRB)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Probe Gold (TSXV:PRB)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024