Probe Gold drills 21.3 g/t gold over 3.1 metres at Novador, Quebec
Probe Gold Inc. [TSX-PRB; OTCQB-PROBF] reported the final set of results from the 2023 Monique drill program on its 100%-owned Novador property near Val d’Or, Quebec.
The results from 28 drill holes, totalling 10,239 metres, revealed significant high-grade mineralized intersections under and inside the modelled Monique gold zones from surface to a depth of 450 metres. The new results show impressive gold grades and thicknesses, continuing to demonstrate strong continuity and growth of gold mineralization at the Monique deposit. A new resource drill program comprising a total of 28,000 metres within and surrounding the conceptual pits of the Monique and Courvan deposits was completed in first quarter 2024. Further results from this program will be released as they are received and interpreted.
Dr. David Palmer, President and CEO, stated: “Our 2023 Monique expansion program continues to demonstrate impressive results, and improvement, with the majority of the intersections at or above the current resource grade. With the completion of the winter resource expansion program, we will now focus on two things, the updated resource, expected later in the year, and the commencement of the 2024 exploration drilling programs. We have consolidated an exceptional land package in Val-d’Or, all of which is vastly underexplored, and all of which has tremendous exploration upside. The most recent PEA has solidified Novador as a robust development project and with our newly acquired exploration projects, Beaufour, McKenzie Break, and Croinor, all within trucking distance of the conceptual mill, we plan to initiate exploration programs to continue adding value while simultaneously de-risking the project by expediting the permitting timeline. We are also advancing our Detour project with follow-up work programs on the previously identified copper-mineralized systems at La Peltrie and larger-scale regional exploration work along our boundary with Agnico Eagle’s Detour Lake Mine.”
All 28 expansion and infill holes returned gold intercepts over 0.42 g/t gold, which is above the cut-off grade used in the current pit-constrained resource estimate. Eighteen of these holes returned gold intercepts with a grade times thickness above 10.0 g/t-m gold. The Monique Gold Trend zones remain open along strike and at depth.
Gold mineralization intersected is mainly associated with deformation zones that cross the deposit at an orientation of 280 degree–300 degree and a 75 degree- 80 degree dip to the north. This gold mineralization is defined by a network of quartz/carbonate/albite/plus or minustourmaline veins and veinlets, along with disseminated pyrite in the altered wall rocks.
Selected drill results from hole MO-651 to 678 at the Monique deposit drilling program included 2.1 g/t gold over 11.9 metres; 4.2 g/t gold over 14.7 metres; 36.4 g/t gold over 1.5 metres; 1.8 g/t gold over 34.0 metres; 23.1 g/t gold over3.1 metres; 62.2 g/t gold over 1.1 metres and other encouraging assays.
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 685 km2 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 km2 hosting three past producing mines (Beliveau Mine, Bussiere 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.
Probe Gold 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 1,685 km2 of exploration ground within some of the most prolific gold belts in Quebec. The company’s recent Novador PEA outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life.