Probe Metals Intersects 9.6 g/t Au over 9.1 metres at Val-d’Or East Project, Quebec

by pmnationtalk on February 12, 201966 Views

Highlights:

  • Drilling continues to make new discoveries as well as expand previous discoveries on the Courvan property
  • Near-surface intersections grading 9.6 g/t Au over 9.0 metres and 3.2 g/t over 10.0 metres, expanding the east side of the Creek Zone 1,000 metres north of the Former Bussiere Mine Main Zone
  • Two new discoveries grading 8.4 g/t Au over 5.0 metres, 4.0 g/t Au over 7.0 metres and 4.9 g/t Au over 9.0 metre, located 450 metres and 750 metres, respectively, north of the Creek Zone
  • Near-surface discoveries grading 5.1 g/t Au over 8.0 metres and 1.2 g/t over 22.0 metres, located 450 metres north of the Former Bussiere Mine Main Zone
  • Follow-up drill program currently underway.

Toronto, February 12, 2019 – PROBE METALS INC. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to provide new results from the 2018 drill program on the Val-d’Or East Courvan property area (the “Property”) located near Val-d’Or, Quebec. Results from thirty-nine

  • drill holes, totaling 11,819 metres, were received and identified both new discoveries as well as confirmed significant expansion of previous discoveries north and west of the Former Bussiere Mine (see figure 1). The 100%-owned Property is located approximately 1.5 kilometres west and adjacent to the New Beliveau deposit. Significant drill results are presented below.

David Palmer, President and CEO of Probe, states, “In a very short space of time the Courvan property has been elevated into a priority area for generating potential new gold resources. The area is characterized by thick, high-grade gold zones that are interpreted to be part of the same system responsible for the mineralization that comprises the current 43-101 gold resource 1.5 kilometres to the east. The Courvan area, as well as the ground in between, has become a priority focus for the winter drill program as we look to extend these mineralized zones and expand our resource base.”

The 2018 drilling program at Courvan has allowed the identification of 12 new gold structures over an area of 2.5 kilometres by 1 kilometres around the old Bussiere Mine, all located within a short distance of the Company’s current resources. The mineralized zones are similar to those observed along the Pascalis trend with large envelopes of quartz-tourmaline veins and associated alteration. Visible gold is common within the mineralization.

Assay results from selected drill holes are reported in the following table:

Selected drill results from the Courvan Area drilling program1

Hole Number From (m) To (m) Length (m) Au (g/t) Area
CO-18-31 33.5 41.5 8.0 5.1 Bussiere West
including 34.5 39.0 4.5 8.5 Bussiere West
including 83.0 84.0 1.0 7.2 Bussiere West
CO-18-36 126.0 148.0 22.0 2.1 North of Creek Zone
including 143.0 148.0 5.0 8.4 North of Creek Zone
including 143.0 144.0 1.0 34.1 North of Creek Zone
282.0 289.0 7.0 4.0 North of Creek Zone
including 282.0 283.0 1.0 25.2 North of Creek Zone
CO-18-37 158.5 159.5 1.0 10.0 Bussiere West
235.0 257.0 22.0 1.2 Bussiere West
including 252.0 257.0 5.0 3.0 Bussiere West
CO-18-40 148.0 165.8 17.8 1.0 Bussiere West
including 148.0 154.5 6.5 1.9 Bussiere West
CO-18-42 149.0 159.2 10.2 1.0 Bussiere West
including 158.0 159.2 1.2 4.8 Bussiere West
CO-18-47 46.0 49.5 3.5 4.1 Bussiere West
including 47.0 48.0 1.0 12.5 Bussiere West
CO-18-48 41.0 42.1 1.1 4.3 North of Creek Zone
218.0 227.0 9.0 4.9 North of Creek Zone
including 225.5 227.0 1.5 27.5 North of Creek Zone
CO-18-57 114.0 125.0 11.0 1.4 Bussiere West
CO-18-59 61.5 71.5 10.0 3.2 Creek Zone
including 64.1 65.6 1.5 17.1 Creek Zone
CO-18-62 60.8 70.5 9.7 1.0 Bussiere West
CO-18-64 105.2 114.3 9.1 9.6 Creek Zone
including 106.3 107.3 1.0 42.4 Creek Zone

All the new analytical results reported in this release and in this table, are presented in core length and uncut. Additional drilling is planned for the immediate area which will enable the true width determination.

Figure 1: Surface Map – Val-d’Or East – Courvan and Pascalis Gold Trend Area https://www.probemetals.com/site/assets/files/1420/vde_ddh_pr_64_co.jpg

About the Courvan Property, Val-d’Or East Project:

The Courvan Property is adjacent to the Company’s New Beliveau deposit at Val-d’Or East and unlocks significant exploration potential to the west of the New Beliveau mineralized system. The Property land package is largely unexplored, with limited historic diamond drilling in the vicinity of the past-producing Bussiere Mine. Gold-bearing veins historically mined on the property consisted of quartz-tourmaline-pyrite veins associated with shear zones and diorite dykes, similar to what is found in the New Beliveau deposit, approximately 1.5 kilometers to the east. The Bussiere Mine produced 42,000 ounces at a grade of 5.8 g/t Au between 1932 and 1942 before being destroyed by forest fires.

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Marco Gagnon, P.Geo, Executive Vice President, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Control

During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in half, with one-half sent to a certified commercial laboratory and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire-assayed with an atomic absorption finish on 50 grams of materials. Repeats were carried out by fire-assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Total gold analyses (Metallic Sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold.

About Probe Metals:

Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp in March 2015. Goldcorp currently owns approximately 13.7% of the Company.

On behalf of Probe Metals Inc.,

Dr. David Palmer,
President & Chief Executive Officer

For further information:

Please visit our website at www.probemetals.com or contact:

Seema Sindwani
Director of Investor Relations
info@probemetals.com
+1.416.777.9467

NT4

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