Exciting Developments at the Novador Project
Highlights
- Probe has embarked on a 50,000-meter infill drill program at Novador to enhance resource conversion for its imminent pre-feasibility study.
- So far, 10,115 meters of drilling have been accomplished at Monique and Courvan, with four rigs actively working and plans to ramp this up to eight rigs this winter.
- The completion of the pre-feasibility study is expected by the end of 2025, positioning Probe for substantial project advancements.
- In conjunction with infill drilling, Probe is also conducting extensive engineering, environmental, and social studies in support of the pre-feasibility work program.
Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) is thrilled to announce the initiation of a major 50,000-meter infill drilling program at its Novador project. This initiative is primarily focused on resource conversion in preparation for the upcoming pre-feasibility study (PFS). To date, the company has successfully drilled 10,115 meters at both Monique and Courvan, with results still pending. Currently, four drilling rigs are operational, which are expected to increase to eight during the winter drilling season.
The goal of the infill drilling program is to elevate 100% of the inferred resource category outlined in the Preliminary Economic Assessment (PEA) mine plan to the indicated category, building upon the 72% of the resource that is already classified in this category. The ongoing drilling efforts will encompass around 150 various drill holes across the Novador project, amounting to the estimated 50,000 meters. Simultaneously, Probe is undertaking thorough engineering, environmental, and social studies, essential to the pre-feasibility work program, which is anticipated to reach completion by late 2025.
David Palmer, President and CEO of Probe Gold, commented, “The primary aim of this infill drill program is to transform the inferred resources identified in our PEA into the indicated category, necessary for completing the PFS by the end of 2025. This study signifies a pivotal milestone in progressing the Novador project towards development. As we look toward the future, Probe is committed to advancing Novador, establishing it as a leading project capable of succeeding across various gold price landscapes. With our strong financial position heading into 2025 and ongoing progress in permitting along with resource expansion over 10 million ounces, our confidence in this project continues to strengthen.”
Engineering and Environmental Studies Supporting the Project
Concurrently with the drilling operations, Probe is engaging in robust engineering and environmental assessments crucial to the project’s success. These studies not only facilitate the pre-feasibility work but also ensure that all regulatory requirements are met as the company advances toward potential mine development.
Probe Gold’s Strong Position in the Mining Sector
Since 2016, Probe Gold has been strategically consolidating its land interests in the resource-rich Val-d’Or East region. The Novador project itself spans 175 square kilometers within a district-scale land package encompassing a significant 685 square kilometers—one of the largest in the Val-d’Or mining camp. The project is situated in a politically stable, cost-effective mining environment that boasts numerous active producers.
Probe Gold remains focused on expanding its portfolio and improving its flagship asset, the multimillion-ounce Novador Gold Project. Their recent updates highlight a promising mining plan with an impressive average annual production goal of 255,000 ounces over a projected mine life of 12.6 years.
Commitment to Sustainable Mining Practices
Probe Gold recognizes the importance of sustainable practices in mining. The company dedicates itself to developing projects in a responsible manner, considering environmental impacts and community relations as critical components of their operational strategy. As they move forward with the Novador project, comprehensive studies will guide their commitment toward sustainable and responsible mining.
Frequently Asked Questions
What is the primary focus of Probe Gold's drill program?
The drill program is primarily aimed at resource conversion to prepare for the upcoming pre-feasibility study.
How many meters has Probe Gold completed in the drilling program?
Probe Gold has completed 10,115 meters of infill drilling so far.
When is the pre-feasibility study expected to be completed?
The pre-feasibility study is anticipated to be completed by the end of 2025.
What are the company's future expansion goals?
Probe Gold aims to convert all inferred resources into the indicated category while also expanding their assets in the Val-d’Or East area.
Who can be contacted for more information about Probe Gold?
For inquiries, you can contact Seema Sindwani, Vice-President of Investor Relations at +1.416.777.9467.
