Probe Gold Reports Exceptional Gold Intersections at Beaufor
Highlights:
- New high-grade gold intercepts have been discovered around the recently acquired Beaufor deposit, situated along the Courvan Trend.
- Notable intercepts include 20.2 g/t Au over 3.9 metres (cut) and 36.8 g/t Au over 3.9 metres (uncut), highlighting rich gold mineralization in zone W.
- Additional noteworthy assay results feature 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.
- This drilling was conducted prior to the acquisition last April, with results contributing to the forthcoming Updated Mineral Resource Estimate.
- The findings emphasize the potential for significant expansion of near-surface mineralization in relation to the existing mine infrastructure.
TORONTO, Sept. 03, 2024 - Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) is thrilled to announce the latest results from the resource drilling program at the Beaufor deposit, which was carried out by Monarch Mining Corporation before last April's acquisition. The Beaufor property is a vital part of the company's 100%-owned Novador property, located near Val-d'Or.
This drilling campaign involved 103 holes and covered a total of 17,952 metres, revealing significant high-grade mineralized intersections from the underground workings at Beaufor. Gold zones extend from the surface down to about 350 metres, with deeper levels ranging from 650 to 1050 metres within the deposit. These results confirm the continuity and potential for lateral and depth expansion of high-grade zones across the W and 140 zones, as well as the deeper M1, Q, and QF zones.
The Beaufor gold deposit is currently undergoing renovation for a mineral resource estimate (MRE), which is anticipated to be released soon. An exploration and expansion drilling program is set to begin in September, focusing on near-surface opportunities at Beaufor.
David Palmer, President and CEO of Probe, remarked: "The results from the Beaufor property are incredibly encouraging. They validate both the expansion potential and consistency of the high-grade zones laterally and at depth. Our recent acquisition of this low-cost property fits seamlessly with our consolidation strategy, alongside the McKenzie Break and Croinor properties, indicating great potential for substantial growth. We are now concentrating on pursuing near-surface targets inspired by these results and our updated geological modeling. The Beaufor deposit will be essential in enhancing our overall resource estimate for all of Val-d'Or East, which we expect to disclose soon."
The Beaufor deposit features a strike length of approximately 1.5 km, a width of 900 metres, and extends 1,200 metres deep. The property is estimated to contain around 219,200 ounces of gold at an average grade of 5.3 g/t, with an inferred resource of about 122,500 ounces at 4.7 g/t. Its strategic location near Highway 117 and existing infrastructure, including underground developments extending to 900 metres, presents significant exploration potential, which will be crucial for the upcoming exploration programs in 2024 and 2025.
Recent drill results from the Beaufor project consistently demonstrate high-grade intercepts, reaffirming the deposit's value and viability as a resource. The gold mineralization in the area 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 successfully consolidated its landholding in the promising Val-d'Or East area, creating one of the largest land packages in this mining camp, covering 685 square kilometres. The Novador project, which spans 175 square kilometres, includes three former producing mines and contains over 95% of the Company's gold resources in this region, totaling 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 has reported several high-grade gold intercepts at the Beaufor deposit, with values reaching up to 36.8 g/t Au over 3.9 metres, indicating significant expansion potential.
How does the Beaufor deposit fit into Probe Gold's strategy?
The Beaufor deposit is a key component of Probe Gold's consolidation strategy, contributing to its overall growth objectives in the Val-d'Or mining camp.
What future plans does Probe Gold have for the Novador project?
Probe Gold intends to launch a drilling program aimed at near-surface opportunities and is preparing to release an updated mineral resource estimate soon.
What is the significance of the high-grade mineralization found?
The high-grade mineralization identified suggests 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 additional information, please contact Seema Sindwani, Vice President of Investor Relations, at info@probegold.com or call +1.416.777.9467.
