Probe Metals\u00a0has released assay results for drill holes completed at its wholly owned Val-d\u2019Or East property in Quebec, which covers 119 sq. km. <\/p>\n
According to the company, this drilling has extended the Bussiere West and Southeast zones, which lie along the Courvan gold trend, on strike and at depth.<\/p>\n The drill highlights include 14.1 metres of 6.8 g\/t gold starting at 168 metres from the Creek zone<\/p>\n<\/blockquote>\n<\/figure>\n The drill highlights include 14.1 metres of 6.8 g\/t gold starting at 168 metres from the Creek zone, 10.8 metres of 8.9 g\/t gold starting at 183 metres at the Southeast zone as well as 1 metre of 9.2 g\/t gold from 120 metres at the Bussiere West zone.<\/p>\n Hole CO-139, which returned the 10.8-metre-long intercept above, targeted the near-surface eastern extensions of the Southeast zone and stepped-out this zone to over 300 metres of strike.<\/p>\n \u201cResults from the winter drilling program continue to show strong expansion of gold mineralization at numerous sites across the project,\u201d David Palmer, the company\u2019s president and CEO, said in a release. <\/p>\n With the summer drill program, the company\u2019s focus is now expected to shift to resource expansion around the higher-grade zones at Courvan<\/p>\n<\/blockquote>\n<\/figure>\n \u201cThese latest intercepts from Courvan show thick, high-grade mineralization located along trend of our current gold zones and represent some of the best results from the property to date.\u201d<\/p>\n With the summer drill program, the company\u2019s focus is now expected to shift to resource expansion around the higher-grade zones at Courvan in addition to infill work. <\/p>\n Palmer noted that while Probe did experience delays due to closures associated with covid-19 precautions in the province, the company does not expect this to impact its exploration plans for this year.<\/p>\n The Creek, Bussiere West and Southeast zones remain open on strike and below a depth of 250 metres.<\/p>\n There are two parallel gold trends at the Val-d\u2019Or East property: Courvan and Pascalis; Probe sees potential for additional trends at the project. Courvan hosts the past-producing Bissiere mine, which generated approximately 42,000 oz. from an average head grade of 5.8 g\/t gold until its closure in 1942.<\/p>\n Probe has been drilling within the Courvan trend since the fall of 2018. In September 2019, the company released a resource estimate for Val-d\u2019Or East, with pit-constrained measured and indicated resources of 13.5 million tonnes at 1.69 g\/t gold for a total of 733,100 oz. and measured and indicated underground resources of 1.1 million tonnes at 3.91 g\/t gold containing 133,200 oz.<\/p>\n Additional inferred resources stand at 28.3 million tonnes in the pit-constrained category, grading 1.49 g\/t gold, for a total of 1.4 million oz. Underground inferred resources include 9.6 million tonnes at 3.35 g\/t gold, containing a total of 1 million oz.<\/p>\n The open-pit resources were derived using a cut-off grade of 0.5 g\/t gold whereas the underground resource was estimated using a 1.95 g\/t gold cut-off. The resources are made up of several deposits along both the Courvan and Pascalis trends.<\/p>\n Probe Metals was formed as a result of the sale of Probe Mines to Goldcorp in March 2015. Newmont currently holds a 12% stake in Probe Metals.<\/p>\n Midday Wednesday, Probe\u2019s stock was down nearly 4% on the TSXV. The company has a C$144 million market capitalization.<\/p>\n\n
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