Probe Gold (TSXV:PRB) Provides Results From Novador Project, Intersecting 3.9 g/t Au over 44 metres in Infill Drilling

Probe Gold (TSXV:PRB) has reported new results from its Pascalis Gold Trend resource drill program at the Novador project located near Val-D’Or, Quebec. These results come from the first 11,200 metres of drilling across 59 drill holes, which have been successful in confirming continuity of gold zones, through infill drilling. The results also expand near-surface gold mineralization at the North and Beliveau deposits. Probe Gold is calculating a new and update mineral resource estimate for the project that includes these results.

Figure 1: Surface map – Pascalis Gold Trend new drilling results.

David Palmer, President and CEO of Probe, commented in a press release: “the Novador project continues to improve and grow, with the Beliveau and North deposits returning impressive results in both infill and expansion drilling programs. In addition to strong grades, the deposits are showing excellent consistency and continuity in the mineralized zones, which builds confidence in these substantial development assets. At this stage of the project, with a large resource already in place, these results speak more to the continued growth in scale of the project and our ability to increase the projected annual production. We are currently working towards updated mineral resource estimates on Beliveau, North and Courvan deposits and are looking forward to advancing Novador.”

Highlights from the results are as follows:

  • Infill drilling continues to show excellent continuity in mineralization with results grading up to 3.9 g/t Au over 44.0 metres including 66.3 g/t Au over 1.3 metres and 51.0 g/t Au over 0.8 metre, 2.7 g/t Au over 21.7 metres and 3.2 g/t Au over 9.5 metres
  • Near-surface expansion drilling returned 156.0 g/t Au over 1.0 metre and 1.0 g/t Au over 25.0 metres.
  • Over 15,000 metres of drilling completed year-to-date at Novador – additional 38,000 metres to be completed this year. Six drills are active including four at Monique and two at Pascalis.
  • All the results released today will be included in the upcoming resource updates on the Pascalis and Courvan trend deposits expected this Spring.

Drill program on the Beliveau and North deposits in 2022 continued to identify new mineralization within the conceptual pits defined by the 2021 MRE. Of the fifty-nine (59) shallow holes drilled to identify or confirm near-surface mineralization, forty-eight (48) yielded gold intercepts over 0.4 g/t Au, which is above the cut-off grade used in the 2021 pit-constrained resource estimate. The most significant expansion drilling results were found in the extension to the west of the Beliveau deposit and the extension of the North deposit to the north. Infill drilling at Beliveau and North also returned notable results as expected. Shallow gold mineralized structures were intersected in the north and northwest part of the North deposit, which require further follow-up drilling, and all the zones are still open at depth.

The geology and geometry of the mineralization intersected by holes PC-20-676 to 734 are similar to those intersected previously along the Pascalis Gold Trend and consist of shallow dipping tension vein networks closely associated with sub-vertical east-west deformation zones and north-northwest dykes.

Selected drill results from holes PC-22-676 to 734 at the Pascalis Area drilling program are, as follows:

Hole Number From (m) To (m) Length (m) Gold (g/t) Zone / Resource
PC-22-676 12.0 35.0 23.0 0.5 Infill / North
PC-22-679 57.0 82.0 25.0 1.0 Expansion / North
PC-22-682 42.7 46.5 3.8 5.2 Infill / North
PC-22-687 22.0 48.0 26.0 0.6 Expansion / North
PC-22-701 43.5 53.0 9.5 3.2 Infill / Beliveau
PC-22-701 160.0 168.2 8.2 2.1 Infill / Beliveau
PC-22-706 204.7 209.5 4.8 3.8 Infill / Beliveau
PC-22-715 179.0 180.5 1.5 17.2 Infill / Beliveau
PC-22-725 6.0 50.0 44.0 3.9 Infill / Beliveau
Including 32.3 33.6 1.3 66.3 Infill / Beliveau
Including 36.0 36.8 0.8 51.0 Infill / Beliveau
PC-22-725 148.0 195.0 47.0 0.5 Infill / Beliveau
PC-22-726 41.0 50.3 9.3 2.7 Infill / Beliveau
PC-22-726 136.3 138.2 1.9 14.1 Infill / Beliveau
PC-22-730 110.7 113.6 2.9 10.1 Infill / Beliveau
Including 110.7 111.6 0.9 31.5 Infill / Beliveau
PC-22-732 305.4 327.1 21.7 2.7 Infill / Beliveau
PC-22-732 374.0 376.0 2.0 7.8 Infill / Beliveau
PC-22-734 191.8 192.8 1.0 156.0 Expansion / Beliveau

(1) All the new analytical results reported in this release and in this table, are presented in core length and cut to 100 g/t Au when needed. True width is estimated between 65 to 95 % of core length. Only grade times thickness above 15.0 g/t Au * m is reported.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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