Probe Mines Announces High-Grade Infill Drilling Results at Borden Gold
July 07 2014 - 5:00AM
Marketwired Canada
Highlights:
- Results from the preliminary infill drilling program of the recent High-
Grade Zone ("HGZ") expansion area returned significant intervals of gold
mineralization, including Hole BL14-621W on Section 2150mSE, with an
interval of:
21.0 metres averaging 7.0 g/t gold
- including 13.0 metres grading 10.5 g/t gold
- Results continue to confirm the strong continuity of the high-grade
mineralization
Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to
announce that it has received results for the first five holes of the
preliminary infill drilling program within the recently expanded area of the
High-Grade Zone ("HGZ") on the Company's Borden Gold project near Chapleau,
Ontario. Diamond drill holes BL14-620 to BL14-624 were received and were
successful in demonstrating the presence of high-grade gold mineralization, as
well as confirming the continuity of the gold mineralization, within the
recently expanded HGZ drilled during the last winter program. The drilling
confirms that high-grade gold mineralization, similar to that intersected in
previous infill drilling programs on previously delineated areas of the HGZ, is
present within the new expansion zone.
The infill program is designed to test the new extension of the HGZ between
Sections 2050 and 2200, at 50 metre-spacing, in order to better define the
high-grade mineralization. The program was successful in identifying grades
similar to those observed in previously delineated sections of the HGZ between
900mSE and 2000mSE. Hole BL14-620W, on Section 2150m SE, intersected a thick
zone of high-grade gold mineralization, returning an interval of 21 metres
averaging 7.0 g/t Au, including a 13-metre wide intercept of 10.5 g/t Au.
Significantly, the mineralization was intersected at a vertical depth of only
425 metres depth, suggesting that the mineralization is in fact shallower than
previously expected. These preliminary results also suggest that continued
improvement in grade is possible with continued infill drilling, the bulk of
which will be accomplished during the next winter program.
The following table shows selected drill results for the HGZ expansion drilling,
No top-cut was used in calculating the gold intervals, the highest grade in a
single sample was 26.4 g/t in Hole BL14-621W. Depths of the mineralized zone
ranged between approximately 395 and 425 metres vertical, with the exception of
Hole BL14-620, which intersected mineralization at a vertical depth of
approximately 620 metres. All drill widths approximate true width. Updated plan
and section maps for all holes are also available on the Company's website at
http://www.probemines.com/s/Borden_Lake.asp?ReportID=569319.
High-Grade Zone Infill Drill Results
----------------------------------------------------------------------------
From To Width Au
DDH Section (m) (m) (m) (g/t)
----------------------------------------------------------------------------
BL14-620 2050mSE 636.0 649.7 13.7 2.8
----------------------------------------------------------------------------
including 637.9 646.9 9.0 3.6
----------------------------------------------------------------------------
BL14-621W 2150m SE 564.4 600.0 35.6 4.5
----------------------------------------------------------------------------
including 579.0 600.0 21.0 7.0
----------------------------------------------------------------------------
including 583.0 596.0 13.0 10.5
----------------------------------------------------------------------------
BL14-622 2200m SE 633.0 636.0 3.0 4.9
----------------------------------------------------------------------------
BL14-623 2050mSE 592.0 602.3 10.3 1.3
----------------------------------------------------------------------------
BL14-624 2150mSE 540.0 550.0 10.0 2.5
----------------------------------------------------------------------------
W: Wedge hole
Dr. David Palmer, President and CEO of Probe, comments: "The results of the
infill drill program continue to confirm the strong continuity of the high-grade
gold system to the southeast. The significant intervals identified in the winter
program, and improved upon in this preliminary infill drilling program, indicate
a robust gold system in both grade and width that remains open to the southeast.
With the potential for increasing grade and further expansion, the HGZ provides
significant upside for exploration in addition to its growing momentum as a
potential development project. We will be focused on advancing both aspects
during the 2014-2015 seasons."
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 January 31, 2014, the
Company is well-positioned with approximately $29.4 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" 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 regarding 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.
Shares Issued: 76,374,727
FOR FURTHER INFORMATION PLEASE CONTACT:
Probe Mines Limited
Karen Willoughby
Director of Corporate Communications
(866) 936-6766
info@probemines.com
Probe Mines Limited
Patrick Langlois
Vice President, Corporate Development
(416) 777-6703
patrick@probemines.com
www.probemines.com
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