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Probe Gold Inc T.PRB

Alternate Symbol(s):  PROBF

Probe Gold Inc. is a Canadian gold exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The owns 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Quebec, as well as an early-stage Detour Gold Quebec project. The Company holds a large land package of approximately 1685-square-kilometres of exploration ground within some of the prolific gold belts in Quebec. Its Casa Cameron Project includes the Casagosic, Sinclair-Bruneau and Florence properties, which are located north of the towns of La Sarre, Amos and Lebel-sur-Quevillon, northwest region in Quebec. It also holds three properties in the James Bay Lowlands area of northern Ontario, Canada: the Black Creek Property, the Tamarack-McFauld’s Lake Property, and the Victory Property. The Company has a 50/50 joint venture with Pan American Silver on the Meunier-144 property. It also owns 100% interest in the Croinor Property located in Val-d’Or, Quebec.


TSX:PRB - Post by User

Bullboard Posts
Post by zitcrudon Jul 31, 2006 8:09am
183 Views
Post# 11166007

News Out!!

News Out!!Probe Mines to Begin Drilling Norway Lake Base Metal Project, Northwestern Ontario Toronto, July 31, 2006 - The Directors of Probe Mines Limited (TSX-V: PRB) are pleased to announce that a diamond drilling contract has been signed for their Norway Lake Project in the Atikokan area of Northwestern Ontario. The drilling program will target a newly discovered base metal showing which returned up to 1.1% Cu, 7.7% Zn, 6.5% Pb, 36 g/t Ag and 0.5 g/t Au in recent channel sampling. Trenching has revealed a 7m wide section of base metal sulphide mineralization, hosted by a mixed sequence of volcanic and sedimentary rocks, and is considered a minimum width as neither the hangingwall nor footwall were observed in the exposed mineralization. The base metal zone is associated with an induced polarization (IP) conductor, which has been traced for 500m along strike. This program represents the first drilling of this zone. Drilling will be carried out by Chibougamau Drilling from their White River office in Ontario. The program will consist of approximately 1000 metres, in ten holes, designed to test the mineralized zone along strike and at depth. Two "fanned" holes will be drilled from five setups, spaced at 50m intervals parallel to the strike direction. This will allow both horizontal and vertical testing of the steeply dipping sheet in the most cost effective manner. Results will be released as soon as they have been interpreted. A number of other gold and base metal occurrences have been identified on the property, and will be the focus of future programs. Historical results include up to 10.5g/t Au and 2.6% Cu over one metre in drilling and up to 6.9% Cu in grab samples. Terms of the option agreement for the Norway Lake project were disclosed in a news release date June 26th, 2006, however the name of the property owner was unintentionally left out. The property was optioned from David Saunders of Burlington, Ontario. Similarly, the names of the property owners of the recently acquired Greenlaw base metal property were unintentionally omitted from a press release dated June 19th, 2006. The owners are Mike Tremblay of Wawa, Ontario and Jacques Robert of Timmins. The TSX Venture exchange requires that property owners be identified in press releases announcing property acquisitions. About the Company: Probe Mines Limited is a Canadian base and precious metal exploration company with a portfolio of highly prospective mineral properties. Probe has recently acquired the Greenlaw base metal project near Chapleau, Ontario, which hosts numerous base metal occurrences and untested conductors, and owns the Tamarack project in the James Bay Lowlands, Ontario, site of a significant copper VMS discovery. In addition, Probe has signed a joint venture agreement on its Bristol Township project located in the new Timmins West gold camp and adjacent to the Timmins West deposit of Lake Shore Gold Corp. Under the terms of the Bristol Township join venture, Sydney Resource Corp. is required to fund $2,000,000 in exploration over four years (see Probe News Release dated November 8, 2006). Probe'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, or contact: David Palmer, Ph.D. President Tel: (416) 777-6703 Harry J. Hodge, P.Eng., Director Tel: (416) 363-4376
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