Email from IR on today's releaseCopied below:
Today, we reported
the second set of results from the 2022 drill program on the Monique property (see attached NR). These results build on previously reported results.
The new results are from
49 holes from the 2022 resource
expansion and infill drill program over the
Monique gold zones.
Forty-four (44 of 49) holes returned significant intercepts.
Here are the important highlights:
- Expansion drilling returned 10.1g/t Au over 4.0 metres & 1.8 g/t Au over 22.5 metres
- Infill drilling returned 2.1 g/t Au over 28.8 metres including 10.2 g/t Au over 4.7 metres, near surface inside Monique Gold Trend’s open-pit deposits
- Over 90,000 metres of drilling completed year-to-date at Val-d’Or East
- 6 drills active at the Val-d’Or East project
Our 2022 drill program (designed to convert, expand, and discover new gold resources) continues to move forward ahead of schedule.
Expansion drilling at Monique thus far has returned
new gold mineralization. We are seeing a gradual shift towards thicker, higher-grade material as we further delineate the gold systems at Monique.
Infill drilling continues to
strengthen the resource and the current block model with respect to grades and continuity.
All intercepts listed in today's news release will be included in the updated resource for the Val-d’Or East project, which will form the basis of the prefeasibility study (PFS) expected to be completed in 2023.
Overall, these results will help build ounces in the next resource update as we advance the project towards development and demonstrate the potential for Val-d’Or East to continue increasing in scale and value.
See below for the surface map for your reference:
https://www.probemetals.com/site/assets/files/1567/figure-monique-pr-june28_2022.pdf 2022 progress update Our goal this year is to advance the company on all fronts by 1) solidifying Val-d’Or East as one of the preeminent development projects in Canada 2) demonstrating the considerable growth potential of its resources and 3) identifying potential new catalysts in discovery targets on both the Val-d’Or East and Detour Quebec projects. With six drills turning at Val-d’Or East and two at Detour we will be able to make considerable progress with our development, expansion, and discovery-stage programs in 2022.
Our 2022 exploration and development program at the VDE project includes 150,000m of drilling focused mainly on resource conversion and expansion. We have completed 60% of the drill program year-to-date with the remaining 40% left for the remainder of the year.
In addition to drilling activities, Probe is advancing, rock mechanics, ground geotechnical, metallurgical, and environmental baseline studies on the project, and has started community and social engagement activities
Probe is fully funded to complete its current 2022 activities and beyond.
We look forward to reporting more drill results soon.
Please don’t hesitate to reach out with your questions.
Thanks, and have a great day!
Seema