Probe Gold Inc. (TSX: PRB) (OTCQB:
PROBF) (“Probe” or the
“
Company”), is pleased to provide the latest
results from the Novador in-fill drill program on its 100%-owned
Novador property (the “
Property”) located near
Val-d’Or, Quebec. The 50,000-metre winter infill drill program,
initiated during the fall of 2024, will support the 2025
pre-feasibility study. Results from thirty-one (31) infill drill
holes, totaling 9,083 metres, have returned significant gold
intercepts from near-surface to approximately 120 metres vertical
depth in the Bussiere deposit sector and significant thick gold
intercepts at Monique from deeper infill drilling. (see figure 1,
figure 2 and table of selected drill results below).
David Palmer, President and CEO of Probe,
states, “Novador’s infill drilling program continues to confirm the
continuity and grade of near-surface mineralization at the Bussiere
deposit, as well as deeper gold zones at Monique. These results are
successfully supporting the ongoing resource conversion for the
upcoming Pre-Feasibility Study (PFS), which marks a crucial
milestone in advancing the Novador project toward development.
Probe’s primary focus is to continue advancing Novador, positioning
it as a leading development project capable of thriving in any gold
price environment. We are making great progress in permitting,
resource growth, and mine plan optimization, and our confidence in
the project’s potential continues to strengthen as we see a clear
path forward to development.”
These latest in-fill drilling results will
continue to enhance our 3D models. Both Zones remain open for
significant expansion along strike and at depth.
Selected infill drill results from the Bussiere
deposit and the Monique deposit drilling program are as
follows:
Hole Number |
From (m) |
To (m) |
Length (m) |
Gold (g/t) |
Zone |
CO-24-435 (Cut) |
96.6 |
97.6 |
1.0 |
50.0 |
BM-04 |
CO-24-435 (Uncut) |
96.6 |
97.6 |
1.0 |
67.1 |
BM-04 |
CO-25-440 |
27.5 |
99.5 |
72.0 |
0.6 |
Bussiere 002& BM-10 |
including |
58.0 |
61.0 |
3.0 |
5.5 |
Bussiere 002 |
including |
98.5 |
99.5 |
1.0 |
12.7 |
BM-10 |
CO-25-441 (Cut) |
45.0 |
49.0 |
4.0 |
14.8 |
Bussiere 002 |
CO-25-441 (Uncut) |
45.0 |
49.0 |
4.0 |
18.9 |
Bussiere 002 |
Including |
47.0 |
48.0 |
1.0 |
66.3 |
Bussiere 002 |
CO-25-442 |
91.7 |
113.3 |
21.6 |
0.7 |
BM-03 |
CO-25-445 |
56.0 |
63.7 |
7.7 |
4.5 |
BM-17A |
including |
60.7 |
61.7 |
1.0 |
28.5 |
BM-17A |
CO-25-448 |
89.0 |
107.0 |
18.0 |
1.0 |
BM-09 |
including |
93.0 |
96.0 |
3.0 |
4.9 |
BM-09 |
CO-25-448 |
139.7 |
140.7 |
1.0 |
11.6 |
BM-10A |
CO-25-449 |
108.2 |
141.5 |
33.3 |
0.8 |
BM-10 |
including |
137.7 |
140.5 |
2.8 |
4.7 |
BM-10A |
MO-24-731 |
104.0 |
113.0 |
9.0 |
1.7 |
K5 |
MO-24-731 |
431.0 |
438.0 |
7.0 |
2.0 |
E4 |
MO-24-731 |
447.0 |
454.0 |
7.0 |
4.4 |
G2 |
including |
452.9 |
454.0 |
1.1 |
17.1 |
G2 |
MO-24-731W2 |
424.5 |
441.5 |
17.0 |
0.6 |
E4 |
MO-24-732W1 |
429.5 |
451.1 |
21.6 |
0.7 |
G2 |
MO-24-732W1 |
545.0 |
549.0 |
4.0 |
10.7 |
A |
including |
545.0 |
546.0 |
1.0 |
32.9 |
A |
MO-24-732W1 |
658.0 |
675.0 |
17.0 |
2.8 |
B1 |
including |
660.0 |
661.0 |
1.0 |
34.6 |
B1 |
MO-24-732W2 |
630.0 |
647.0 |
17.0 |
2.0 |
B1 |
including |
637.0 |
644.0 |
7.0 |
4.4 |
B1 |
MO-24-732W2 |
739.0 |
746.0 |
7.0 |
2.5 |
M |
including |
740.0 |
741.0 |
1.0 |
12.5 |
M |
MO-25-733 |
483.0 |
506.1 |
23.1 |
1.1 |
I |
including |
484.2 |
488.0 |
3.8 |
3.0 |
I |
including |
493.8 |
497.8 |
4.0 |
2.9 |
I |
MO-25-734 |
516.0 |
531.0 |
15.0 |
1.0 |
I |
including |
526.0 |
531.0 |
5.0 |
2.7 |
I |
MO-25-736 |
79.0 |
149.5 |
70.5 |
0.7 |
B & I |
including |
142.9 |
149.5 |
6.6 |
4.1 |
I |
MO-25-736 |
234.9 |
239.0 |
4.1 |
9.9 |
M |
including |
234.9 |
236.5 |
1.6 |
20.2 |
M |
MO-25-737W1 |
459.0 |
479.0 |
20.0 |
4.4 |
I |
including |
465.0 |
468.0 |
3.0 |
23.8 |
I |
MO-25-738 |
428.0 |
439.0 |
11.0 |
4.7 |
I |
including |
433.0 |
436.0 |
3.0 |
15.2 |
I |
(1) All the new analytical results reported in
this release and in this table, are presented in core length and
cut to 50 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: Courvan Area Surface Map – Courvan
Gold Trend new drilling results
Figure 2: Monique Area Surface Map – Monique
Gold Trend new drilling results
Mineralization along the Courvan trend,
including Bussiere Mine sector, is characterized by a series of
shallow-dipping East-West gold-bearing veins spatially associated
with shear zones that intersect the Bourlamaque granodiorite
batholith. The veins encountered containing gold are primarily
composed of sulphide-bearing quartz-carbonate-tourmaline, and gold
is typically associated with centimetre-scale pyrite masses within
the veins. Gold mineralization intersected in the volcanics is
associated with a shear zone and sulphide-bearing
quartz-carbonate-tourmaline veins. The Bussiere deposit remains
open laterally and at depth.
Mineralization intersected at Monique is mainly
associated with deformation zones that cross the deposit at an
orientation of 280° – 300° and a 75°- 80° dip to the north. The
gold mineralization is defined by a network of
quartz/carbonate/albite/±tourmaline veins and veinlets, along with
disseminated pyrite hosted in altered and sheared volcanic rocks
and altered diorite dykes. Mineralized zones have been defined from
surface to a depth of 700 metres and vary in width from several
metres to up to 100 metres. Mineralized structures modelled extend
laterally up to 2,500 metres. The Monique Gold Trend zones remain
open along strike and at depth.
Qualified Person
The scientific and technical content of this
press release has been prepared, reviewed, and approved by Mr. Marc
Ducharme, P.Geo, Vice President Exploration, 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’s Novador
ProjectSince 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 835 square
kilometres that represents one of the largest land holdings in the
Val-d’Or mining camp. The Novador project represents one property
block of 202 square kilometres that hosts four past producing mines
(Beliveau Mine, Bussiere Mine, Monique Mine and Beaufor Mine) and
contains 80% of the Company’s gold resources in Val-d’Or East.
Novador is situated in a politically stable and low-cost mining
environment that hosts numerous active producers and mills.
About Probe GoldProbe Gold Inc.
is a leading Canadian company focused on the acquisition,
exploration, and development of highly prospective gold properties.
The Company is well-funded and dedicated to exploring and
developing high-quality gold projects. Notably, it owns 100% of its
flagship asset, the multimillion-ounce Novador Gold Project in
Quebec, as well as an early-stage Detour Gold Quebec project. Probe
controls a large land package of approximately
1835-square-kilometres of exploration ground within some of the
most prolific gold belts in Quebec. The Company’s recent Novador
updated Preliminary Economic Assessment outlines a robust mining
plan with an average annual gold production of 255,000 ounces over
a 12.6-year mine life.
Val-d’Or properties include gold resources
totaling 6,728,600 ounces in the Measured and Indicated category
and 3,277,100 ounces in the Inferred category along all trends and
deposits.
On behalf of Probe Gold Inc., Dr. David
Palmer, President & Chief Executive OfficerFor
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 Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Exchange) 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, an inability to
predict and counteract the effects of COVID-19 on the business of
the Company, including but not limited to the effects of COVID-19
on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains, 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.
Infographics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5a8d2514-57b7-44d1-b8ae-7bc81701350dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/253b9c56-67f9-491d-a01d-994ab61b3437
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