Results from 74 drill holes, totalling 13,700 metres, returned significant gold intercepts between surface and 250 metres depth at the Southwest deposit (see an attached table). Results from this drilling returned the largest intervals to-date from the Courvan Trend, including 1.1 g/t gold over 113.0 metres in hole CO-22-189 and 0.8 g/t gold over 154.3 metres in hole CO-22-245. Refer to original press release for complete drill results.
The 2022 fall drill program at Courvan was focused on both resource expansion and resource conversion drilling. An updated MRE is currently being calculated and will include the new results released today.
Dr. David Palmer, president and CEO, stated: “Our first set of results from Courvan’s infill and expansion drilling programs have yielded the largest intervals to-date as well as significant near-surface intercepts, highlighting the project’s potential for growth and increased production. These results are a continuation of the exceptional results we are receiving across the project, including both Pascalis and Monique, that demonstrate improving grade and thickness. With these first results for Courvan, we can now confirm that we are achieving our objectives across all three deposits, namely unlocking value through continued growth of our gold resources and upgrading the resource classification to support upcoming economic studies and development plans. The Resource Updates for Pascalis and Courvan are progressing well, and we anticipate further Courvan results to be released during the upcoming weeks.”
Of the 74 holes drilled to identify or confirm near-surface mineralization, 62 returned gold intercepts over 0.4 g/t gold, which is above the cut-off grade used in the 2021 pit-constrained resource estimate. Infill drilling at Southwest deposit returned significant results, as expected and expansion drilling near the bottom of the pit identify new parallel gold zones. The deposit remains open laterally and at shallow depth as very few holes were drilled under 250 metres deep. Assay results for an additional 141 holes drilled in Q4 2022 at Courvan over the Bussiere and Creek deposits will be released when received and interpreted.
The latest drilling results continues to improve the 3D model of the mineralization at Courvan, which is characterized by a set of shallow dipping East-West gold-bearing veins adjacent to shear zones crosscutting the Bourlamaque granodiorite batholith. Gold veins intersected are characterized predominantly by sulphide-bearing quartz-carbonate-tourmaline and gold is generally associated with cm-scale pyrite masses in veins and zones of 1% to 5% finely disseminated pyrite in the host rocks.
Probe Gold is committed to discovering and developing high-quality gold projects, including its key asset the multimillion-ounce Novador Gold Project, Quebec. The Company is well-funded and controls a large land package of approximately 1,500 km2 of exploration ground within some of the most prolific gold belts in Quebec. The company was formed as a result of the $526M sale of Probe Mines Limited to Goldcorp.