Probe Gold Achieves High-Grade Gold Intersections in Quebec
Probe Gold Reports Exceptional Gold Intersections at Beaufor
Highlights:
- New high-grade gold intercepts identified around the recently acquired Beaufor deposit, located along the Courvan Trend.
- Remarkable intercepts of 20.2 g/t Au over 3.9 metres (cut) and 36.8 g/t Au over 3.9 metres (uncut), showcasing rich gold mineralization in zone W.
- Additional noteworthy assay results include 4.6 g/t Au over 26.7 metres and 14.5 g/t Au over 4.2 metres (cut), or 31.9 g/t Au over 4.2 metres (uncut) at greater depths in zone 140.
- Drilling conducted before the acquisition last April, with results aiding in the upcoming Updated Mineral Resource Estimate.
- Results highlight the potential for significant expansion in near-surface mineralization relative to the existing mine infrastructure.
TORONTO, Sept. 03, 2024 - Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) is excited to share its latest results from the resource drilling program at the Beaufor deposit conducted by Monarch Mining Corporation prior to last April's acquisition. The Beaufor property is integral to the company's 100%-owned Novador property located near Val-d'Or.
This drilling campaign involved 103 holes, accumulating a total of 17,952 metres, unveiling substantial high-grade mineralized intersections from the underground workings at Beaufor. Gold zones extend from the surface down to approximately 350 metres and deeper levels reaching from 650 to 1050 metres within the deposit. These findings affirm the continuity and potential expansion of high-grade zones laterally and at significant depths across the W and 140 zones, as well as the deeper M1, Q, and QF zones.
The Beaufor gold deposit is under renovation for a mineral resource estimate (MRE), expected to be released soon. An exploration and expansion drilling program is planned to commence in September, targeting near-surface opportunities at Beaufor.
David Palmer, President and CEO of Probe, stated: "The results from the Beaufor property are immensely promising. They confirm both the expansion potential and consistency of the high-grade zones laterally and at depth. Having recently acquired this low-cost property aligns perfectly with our strategy for consolidation, alongside the McKenzie Break and Croinor properties, showcasing great promise for substantial growth. Our focus is now on pursuing near-surface targets inspired by these results and our new geological modeling. The Beaufor deposit will play a crucial role in enhancing our overall resource estimate for all of Val-d'Or East, expected to be disclosed soon."
The Beaufor deposit boasts a strike length of approximately 1.5 km, a width of 900 metres, and extends 1,200 metres deep. The property contains an imminent measure of approximately 219,200 ounces of gold at an average grade of 5.3 g/t and an inferred resource totaling about 122,500 ounces at 4.7 g/t. With its strategic location near Highway 117 and existing infrastructure including underground developments extending to 900 metres, the property offers significant exploration potential, which will be integral to the upcoming exploration programs in 2024 and 2025.
Newly selected drill results from the Beaufor project highlight consistent returns of high-grade intercepts that reaffirm the deposit's value and viability as a resource. The gold mineralization in the region is characterized by quartz-tourmaline-pyrite veins closely associated with shear zones formed in the volcanic granodiorite intrusion.
About Probe Gold's Novador Project
Since 2016, Probe Gold has effectively consolidated its landholding in the promising Val-d'Or East area, creating one of the largest land packages in this mining camp at 685 square kilometres. The Novador project, encompassing 175 square kilometres, includes three former producing mines and houses over 95% of the Company's gold resources in this region, contributing to a total of 3,793,900 ounces in the Measured and Indicated category, and 1,418,700 ounces in the Inferred category.
Frequently Asked Questions
What are the recent highlights from Probe Gold's drilling activities?
Probe Gold reported multiple high-grade gold intercepts at the Beaufor deposit, with values up to 36.8 g/t Au over 3.9 metres, indicating substantial expansion potential.
How does the Beaufor deposit fit into Probe Gold's strategy?
The Beaufor deposit plays a critical role in Probe Gold's consolidation strategy, contributing to its overarching growth objectives in the Val-d'Or mining camp.
What future plans does Probe Gold have for the Novador project?
Probe Gold aims to initiate a drilling program targeting near-surface opportunities and is set to release an updated mineral resource estimate soon.
What is the significance of the high-grade mineralization found?
The identified high-grade mineralization indicates strong potential for future growth and profitability in gold extraction at the Beaufor deposit.
Who can be contacted for more information about Probe Gold?
For further information, please reach out to Seema Sindwani, Vice President of Investor Relations, at info@probegold.com or call +1.416.777.9467.
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