Probe Gold drills 14.9 g/t gold over 6.8 metres (Cut) in expansion drilling at Monique deposit, Novador Project, Quebec
Probe Gold Inc. [TSX-PRB; OTCQB-PROBF] provided the last set of results from the Monique resource drill program completed this April on its 100%-owned Novador property near Val-d’Or, Quebec. The results from 25 drill holes, totaling 15,025 metres, revealed significant high-grade mineralized intersections under and inside the modeled Monique gold zones from surface to a depth of 700 metres. The new results show impressive gold grades and thicknesses, and continue to demonstrate strong continuity and growth of gold mineralization at the Monique deposit.
Highlights: New multiple high-grade gold intercepts within and surrounding the Monique conceptual pit. Monique Gold system is identified over 2,500 metres of length, 1,000 metres of width and 700 metres of depth.
Expansion drilling within and under the Monique conceptual pit intersected significant intervals of mineralization grading up to 14.9 g/t Au over 6.8 metres (Cut) or 30.3 g/t Au over 6.8 metres (Uncut), including 255 g/t Au over 0.8 metre; 9.9 g/t Au over 12.0 metres, including 99.2 g/t Au over 1.0 metre and 2.7 g/t Au over 23.7 metres.
Infill drilling continues to confirm gold zones inside and just under the conceptual pit, yielding up to 4.8 g/t Au over 17.1 metres,including 44.7 g/t Au over 1.0 metre and 1.0 g/t Au over 53.0 metres.
A 10,000-metre drill program and prospecting activities testing new exploration targets is ongoing at Novador.
Two drills are active this summer at Novador, with over 6,000 meters of the planned 10,000 metres of exploration drilling already completed. The exploration program, designed to test new areas peripheral to the Courvan and the Pascalis Trends, should be completed in September.
David Palmer, President and CEO, stated: “Today’s results from our 2024 Monique expansion program continue to build on previous successes, with most intersections meeting or exceeding the current resource grade. For the remainder of the year, our key objectives include updating the resource estimate, expected in the Fall, and the 2024 drilling programs, which will focus on both expansion and new discoveries. Our regional exploration program at Val-d’Or is now underway, including drilling program planned on the recently acquired Val-d’Or east properties, all of which are within trucking distance of the conceptual mill. Follow-up resource expansion drilling is planned for the fall season, along with geophysics and drilling of new targets generated from our regional work.”
All 25 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. Twenty-one of these holes returned gold intercepts with a grade times thickness above 10.0 g/t gold.
Gold mineralization intersected is mainly associated with deformation zones that cross the deposit at an orientation of 280° – 300° and a 75°- 80° dip to the north. This gold mineralization is defined by a network of quartz/carbonate/albite/±tourmaline veins and veinlets, along with disseminated pyrite in the altered wall rocks. More than 50 parallel gold zones have been discovered on the property, to-date. Some mineralized zones have been defined from surface to a depth of 700 metres and they all 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.
Since 2016, Probe Gold has been consolidating its land position in the prospective Val-d’Or East area 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 represents one property block of 175 km2 that hosts three past producing mines (Beliveau Mine, Bussiere Mine and Monique Mine) and contains over 95% 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.
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 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.