Probe Mines Announces Continued High-Grade Assay Results for its Borden Gold Project, Ontario
21 Agosto 2013 - 5:00AM
Marketwired Canada
Probe Mines Limited (TSX VENTURE:PRB) -
Highlights:
-- New Infill sections 1500m SE and 1600m SE confirm continuity of the
High-Grade Zone ("HGZ"), returning thick, high-grade mineralized
intercepts of: 44.4 metres grading 4.0 g/t Au, including 14.3 metres
averaging 11.1 g/t Au (Section 1500m SE); and 41.0 metres grading 5.1
g/t Au, including 11.6 metres averaging 15.1 g/t Au (Section 1600m SE);
-- Infill drilling in the northwest sections of the deposit continues to
define potential bulk tonnage mineralization with intervals ranging
between 0.9 g/t Au and 3.3 g/t Au, including intercepts of 50.0 metres
averaging 1.4 g/t Au and 19.0 metres grading 2.2 g/t Au on Section 150m
NW.
Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to
announce that it has received further assays from its ongoing drilling program
at the Company's Borden Gold project near Chapleau, Ontario. Results for 29
diamond drill holes, BL12-436 to BL13-464, were received and were successful in
confirming the continuity of the high-grade gold mineralization on new infill
Sections 1500m SE, 1550m SE and 1600m SE as well as continued improvement in the
potential bulk tonnage mineralization through the infill drilling program.
Drilling is continuing on the high-grade zone and results will be released as
soon as they are received.
High-Grade Zone
Results from ten infill drill holes in the high-grade gold zone returned
significant intersections of thick, high-grade gold mineralization. In
particular, drilling results were received from new infill sections within the
high-grade zone ("HGZ") that confirm the continuity of the high-grade gold
mineralization. Diamond drill hole BL13-455 on Section 1500m SE returned an
impressive interval of 44.0 metres averaging 4.0 g/t Au, which included 14.3
metres of 11.1 g/t Au, while 100 metres to the southeast, hole BL13-458 returned
an equally impressive 41.0 metres grading 5.1 g/t Au, including 11.6 metres
averaging 15.1 g/t Au on Section 1600m SE.
These sections provide a valuable link to drilling on other sections and serve
to improve confidence in a potential underground resource. The remarkable
continuity of the HGZ between sections, as well as the consistent zonation,
indicate that the gold mineralization is part of a well-developed system.
Drilling is also defining the upper and lower limits of the mineralization, and
will be used in an updated resource estimate that will include the new HGZ,
currently delineated over a potential strike length of 950 metres.
The following table shows selected drill results for the HGZ, with all intervals
approximating true width. Depths of the mineralized zones are between 283 and
444 metres vertical depth. Updated plan and section maps for all holes are
available on the Company's website at
http://www.probemines.com/s/Borden_Lake.asp?ReportID=569319:
High-Grade Zone Drill Results
----------------------------------------------------------------------------
From To Width Au
DDH Section (m) (m) (m) (g/t)
----------------------------------------------------------------------------
BL13-439 1000m SE 326.3 351.2 24.9 1.7
----------------------------------------------------------------------------
BL13-442 1050m SE 435.1 457.3 22.2 1.0
----------------------------------------------------------------------------
BL13-450 1050m SE 387.0 397.8 10.8 3.4
----------------------------------------------------------------------------
including 395.0 396.9 1.9 12.4
----------------------------------------------------------------------------
BL13-455 1500m SE 260.9 263.1 2.2 9.5
----------------------------------------------------------------------------
BL13-455 340.6 385.0 44.4 4.0
----------------------------------------------------------------------------
including 370.7 385.0 14.3 11.1
----------------------------------------------------------------------------
including 379.9 385.0 5.1 20.7
----------------------------------------------------------------------------
BL13-458 1600m SE 383.0 424.0 41.0 5.1
----------------------------------------------------------------------------
including 398.0 409.6 11.6 15.1
----------------------------------------------------------------------------
BL13-459 1800m SE 464.0 470.0 6.0 2.1
----------------------------------------------------------------------------
BL13-460(i) 1700m SE deviated --- --- ---
----------------------------------------------------------------------------
BL13-461 1500m SE 385.7 392.9 7.2 2.5
----------------------------------------------------------------------------
BL13-462 1600m SE 379.0 403.4 24.4 1.3
----------------------------------------------------------------------------
including 393.7 398.0 4.3 4.1
----------------------------------------------------------------------------
BL13-463 1550m SE 405.7 416.3 10.6 3.6
----------------------------------------------------------------------------
BL13-464 1700m SE 464.0 473.0 9.0 2.5
----------------------------------------------------------------------------
(i) hole 460 deviated off section and did not reach the zone
Infill Drilling
Results from the infill drilling between Sections 450m NW and 1000m SE continued
to define and improve the gold zone with thick intersections of resource grade
mineralization and narrow zones of higher-grade material. Highlights include 50
metres averaging 1.4 g/t Au in Hole BL13-444 and 19 metres of 2.2 g/t Au in Hole
BL13-451 on Section 150m NW and 6 metres of 3.3 g/t Au in Hole BL13-441 on
Section 200m NW. Gold mineralization still remains open in the northwest
direction.
The following table shows selected results from the infill drilling, with all
intervals approximating true width. Depths of the mineralized zones are between
25 and 398 metres vertical depth:
Infill Drill Results
----------------------------------------------------------------------------
From To Width Au
DDH Section (m) (m) (m) (g/t)
----------------------------------------------------------------------------
BL13-436 450m NW 32.0 34.0 2.0 3.3
----------------------------------------------------------------------------
BL13-437 400m NW 63.0 68.0 5.0 3.0
----------------------------------------------------------------------------
BL13-438 300m NW 94.4 98.0 3.6 1.3
----------------------------------------------------------------------------
BL13-440 200m SE 281.0 312.0 31.0 1.3
----------------------------------------------------------------------------
including 301.2 306.0 4.8 2.7
----------------------------------------------------------------------------
BL13-441 200m NW 35.7 39.0 3.3 2.5
----------------------------------------------------------------------------
BL13-441 104.9 110.9 6.0 3.3
----------------------------------------------------------------------------
BL13-443 150m NW 36.0 46.0 10.0 1.2
----------------------------------------------------------------------------
BL13-444 150m NW 90.0 140.0 50.0 1.4
----------------------------------------------------------------------------
including 103.5 107.0 3.5 2.6
----------------------------------------------------------------------------
also
including 130.7 134.0 3.3 3.3
----------------------------------------------------------------------------
BL13-445 250m SE 350.0 374.0 24.0 1.0
----------------------------------------------------------------------------
including 366.0 374.0 8.0 1.5
----------------------------------------------------------------------------
BL13-446 900m SE 385.4 389.0 3.6 3.0
----------------------------------------------------------------------------
BL13-446 471.0 485.0 14.0 1.1
----------------------------------------------------------------------------
BL13-447 150m NW 65.5 82.8 17.3 1.3
----------------------------------------------------------------------------
BL13-447 87.9 107.3 19.4 1.6
----------------------------------------------------------------------------
BL13-447 109.7 125.0 15.3 1.4
----------------------------------------------------------------------------
BL13-447 128.0 134.0 6.0 1.7
----------------------------------------------------------------------------
BL13-448 150m NW 180.0 188.7 8.7 1.9
----------------------------------------------------------------------------
BL13-448 191.0 197.6 6.6 1.5
----------------------------------------------------------------------------
BL13-449 250m SE 374.0 398.8 24.8 0.9
----------------------------------------------------------------------------
BL13-451 150m NW 209.0 228.0 19.0 2.2
----------------------------------------------------------------------------
including 213.7 226.1 12.4 3.0
----------------------------------------------------------------------------
BL13-452 950m SE 417.0 422.5 5.5 1.7
----------------------------------------------------------------------------
BL13-452 448.0 455.0 7.0 1.6
----------------------------------------------------------------------------
BL13-453 150m SE 371.0 382.0 11.0 1.3
----------------------------------------------------------------------------
BL13-454 150m NW 247.8 253.0 5.2 2.4
----------------------------------------------------------------------------
BL13-456 150m SE 400.0 405.4 5.4 1.4
----------------------------------------------------------------------------
BL13-457 150m NW --- --- --- NSA
----------------------------------------------------------------------------
(i) NSA - no significant assays
Dr. David Palmer, President and CEO of Probe, comments "The deposit continues to
distinguish itself not only with its high grades, but also the remarkable
consistency of the mineralization. This consistency is an important element that
is often missing in gold deposits and should aid in the potential development
plans with improved efficiency and therefore costs. Our priority now is to
continue delineating and defining the high-grade zone in order to incorporate
this into the economic studies."
Probe has instituted a strict quality assurance and quality control ("QA-QC")
program for the Borden Gold drill core sampling, with each fire assay furnace
batch of 40 samples including two certified reference materials (standards), one
blank sample and one core duplicate sample. Quality control guidelines and
ongoing QAQC monitoring are being carried out by Probe personnel.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration company whose key
asset is the Borden Gold Zone in Ontario, Canada. As of April 30, 2013, the
Company had approximately $28 million in treasury and a portfolio of highly
prospective mineral properties. In May 2013, the Company closed a private
placement of $15 million. As a result of the financing, Agnico Eagle Mines
Limited now owns 9.9% of the Company on a non-diluted basis. The Company is
actively exploring a significant new gold resource on its Borden Gold Zone near
Chapleau, Ontario and has 100% interest in the Black Creek chromite deposit
located in Northern Ontario. The Company's shares trade on the TSX Venture
Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical
information in this release. To find out more about Probe Mines Limited, visit
our website at www.probemines.com.
On behalf of Probe Mines Limited,
Dr. David Palmer, President & Chief Executive Officer
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. This News Release includes certain
"forward-looking statements". These statements are based on information
currently available to the Company and the Company provides no assurance that
actual results will meet management's expectations. Forward-looking statements
include estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since
forward-looking statements are based on assumptions and address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 75,659,727
FOR FURTHER INFORMATION PLEASE CONTACT:
Probe Mines Limited
Karen Willoughby
Director of Corporate Communications
(866) 936-6766
info@probemines.com
Probe Mines Limited
Patrick Langlois
Vice President, Corporate Development
(416) 777-6703
patrick@probemines.com
www.probemines.com
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