Probe Gold (TSX:PRB) has released the latest results from its 2023 drilling program at the Monique site, part of its Novador property near Val-d’Or, Quebec. The company, which owns the property entirely, reported significant findings from 25 drill holes, covering a total distance of 9,940 meters. These results indicate high-grade gold intersections along the strike, at various depths, and within the predicted gold zones of the Monique deposit, extending from the surface down to a depth of approximately 450 meters.

The recent drilling outcomes highlight notable gold grades and thicknesses, suggesting the ongoing expansion and consistent presence of gold mineralization at the Monique deposit. The identified gold trend zones at Monique are noted to be open for further exploration both along the strike and at greater depths.

Out of the 25 drill holes, 20 were aimed at expansion and infill drilling, intended to either identify or confirm in-pit mineralization. These holes yielded gold intercepts exceeding 0.42 grams per tonne (g/t) of gold, surpassing the cut-off grade set in the current resource estimate for the pit-constrained area. Notably, 17 of these holes revealed gold intercepts with a combined grade and thickness exceeding 10.0 g/t Au. Additionally, five exploration holes drilled south of the conceptual pit encountered parallel structures, with two of these holes showing lower-grade gold values.

The identified gold mineralization is predominantly linked to deformation zones crossing the deposit. These zones are characterized by an orientation ranging from 280° to 300° and a dip of 75° to 80° to the north. The gold presence is defined by a network of veins and veinlets composed of quartz, carbonate, albite, and occasionally tourmaline, along with disseminated pyrite in the surrounding altered rocks.

Since 2016, Probe Gold has been actively expanding its land holdings in the Val-d’Or East area of Quebec, which is known for its mining potential. The company now boasts a district-scale land package spanning 600 square kilometres, making it one of the largest landholders in the Val-d’Or mining camp. The Novador project, a subset of these holdings, covers 175 square kilometres and includes three previously operational mines: the Beliveau Mine, Bussière Mine, and Monique Mine. This project aligns with three regional mining trends.

The Val-d’Or area, recognized for its political stability and cost-effective mining operations, hosts several active mining companies and processing facilities. Across its properties in this region, Probe Gold reports gold resources totalling approximately 3.79 million ounces in the Measured and Indicated categories, and an additional 1.42 million ounces in the Inferred category, encompassing all trends and deposits within the area.

Highlights from the results are as follows:

• Multiple high-grade gold intercepts found within and around the Monique conceptual pit.
• Infill drilling continues to intersect thick gold zones inside the conceptual pit, yielding up to 6.4 g/t Au over 18.3 metres (11.8 g/t Au over 18.3 metres uncut, including 223 g/t Au over 0.8 metre); 3.3 g/t Au over 27.9 metres; and 1.9 g/t Au over 47.9 metres.
• Exploration and expansion drilling around and inside the Monique conceptual pit intersected new significant mineralization grading up to 16.6 g/t Au over 2.0 metres; 1.6 g/t Au over 19.5 metres; and 2.7 g/t Au over 11.8 metres.
• Over 70,000 metres of drilling have been completed at Novador in 2023. Drilling for this year is finished at Monique, and two drills are now active at Courvan.
• Planning a 30,000 metres expansion drill program for Q1 2024 at Novador.

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.

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:

(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.