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Probe Metals Inc.
Summary
| Project: | Val-d'Or East | |
|---|---|---|
| Deposit: | Val-d'Or East | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-9-2019: Probe Metals Inc. announces a Resource Estimation report for its Val-d'Or East deposit at the Val-d'Or East project. Upgraded mineral resource estimate for project. TORONTO, Sept. 03, 2019 -- Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe | |
| Resources: | (Resource, M+I): 14.57Mt @ 1.85g/t Au project total | |
| CP/QP: | [Resources]: Merouane Rachidi, Claude Duplessis (GoldMinds Geoservices Inc.) | |
| ABSTRACT: | TORONTO, Sept. 03, 2019 -- Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to announce the release of an Updated Resource Estimate for its Val-d’Or East project (the “Project”) located near Val-d’Or, Quebec. The estimate includes resources from the Company’s 100%-owned Pascalis, Courvan and Lapaska properties as well as its two option properties, Monique and Cadillac Break East. With the discovery of a new parallel gold trend, the Courvan Trend, the mineral resources have shown significant improvement over the previous resource estimate and remain open in all directions for future expansion. This resource estimate was independently prepared by GoldMinds Geoservices Inc. in accordance with National Instrument 43-101 (“NI 43-101”) and is dated August 28, 2019. Drills will be active throughout 2019 on further expansion and regional exploration. David Palmer, President and CEO of Probe, states, “Our exploration programs have resulted in an impressive amount of growth, more than doubling our gold resource with 2.3 million ounces in the inferred and approaching 1 million ounces in the measured and indicated, which position the project as one of the top undeveloped gold deposits in the Val-d’Or area. The updated resource also highlights and confirms the potential of the area for continued growth and new discoveries. We have now increased the number of individual deposits from four to ten, including five within the new 100%-owned Courvan Trend. The majority of the increased resource was in pit-constrained ounces as the focus of the 2018-2019 programs was on shallow drilling. In addition to future pit expansion, the deposits are all open below the conceptual pits and still have potential for substantial growth at depth. With this updated resource I believe we have crossed a threshold and future programs will now include work on potential development scenarios in addition to resource growth. Probe will continue to focus on unlocking value for our Investors at its Val-d’Or East project and we are looking forward to the next phase of the project as we advance towards development.” | |
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