Probe Gold drills 26.9 g/t gold over 4 metres at Novador, Quebec
Probe Gold Inc. [TSX-PRB; OTCQB-PROBF] released the second set of results from the 2023 Monique drill program on its 100%-owned Novador property, located near Val d’Or, Que. Results from 40 drill holes, totalling 12,950 metres, have returned significant gold intercepts from surface to a depth of 400 metres at the Monique gold zones.
The 2023 drill program primarily focused on expanding the resource both inside and beneath the conceptual pit shell used in the current mineral resource estimate. This is achieved by targeting areas in the extension of the known gold zones characterized by higher grades and thicknesses. The new results continue to demonstrate growth and strong continuity of gold mineralization at the Monique deposit.
Dr. David Palmer, president and CEO, stated: “Once again, the results from the 2023 Monique expansion program underscore not only the tremendous upside for continued growth at this deposit, but also the improvement of the development project as we add ounces within the current conceptual pit shell. We are in the process of ramping up our expansion drilling program in anticipation of an updated resource in the second half of 2024, and we are currently under way on our updated PEA [preliminary economic assessment] expected in the first quarter of 2024. These two major milestones for 2024 will add considerable value to our project by demonstrating both current production growth in the new PEA and future production growth in the updated resource.
“In addition to Novador, we also have a number of other strategic assets that we are advancing to unlock value for our shareholders, including Detour, Croinor and our Casa Berardi trend properties. This year has proven to be highly productive for our projects, and we anticipate maintaining this momentum throughout the remainder of the year and into next.”
All 40 holes drilled to identify or confirm in-pit mineralization 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-seven 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 degrees to 300 degrees and a 75-degree-to-80-degree dip to the north. This gold mineralization is defined by a network of quartz/carbonate/albite plus or minus tourmaline veins and veinlets, along with disseminated pyrite in the altered wallrocks.
Selected drill results from the 2023 Monique deposit drilling program include drill hole MO-23-589 that returned 29.1 metres of 1.0 g/t gold. MO-23-596 returned 44.0 metres of 1.0 g/r gold. MO-23-598 returned 2.0 metres of 15.2 g/t gold. MO-23-600 returned 24.2 metres of 1.0 g/t gold/ MO-23-601 returned 32.4 metres of 1.0 g/t gold. MO-23-616 (uncut) returned 4.0 metres of 68.1 g/t gold, including 1.0 metre of 265.0 g/t gold. MO-23-625 returned 34.0 metres of 3.4 gt gold, including 1.0 metre of 58.4 metres. Refer to original press release for more drill results.
Probe Gold is well financed and dedicated to the exploration and development of high-quality gold projects, notably its 100%-owned, flagship asset, the multimillion-ounce Novador gold project in Quebec. Probe controls a large land package of approximately 1,600 km2 of exploration ground within some of the most prolific gold belts in Quebec.