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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

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Post by canbeam2004on Feb 15, 2014 9:30am
463 Views
Post# 22213626

Ring of Fire News from Toronto Star Feb 15th

Ring of Fire News from Toronto Star Feb 15th"Ontario has hired a major consulting firm to advise it on how to proceed on the $60-billion Ring of Fire mineral belt in the northwestern region of the province. Deloitte LLP will advise the government on how to set up a corporation to oversee infrastructure development in the region, Michael Gravelle, minister of northern development and mines, announced Friday. “Given the divergent transportation proposals on the table, a neutral third party will be helpful,” Gravelle said, noting the options for accessing the belt range from road to rail to hovercraft. “We want to make sure we get this right,” Gravelle added. “This is another important and very significant step forward.” See related story: Hopes still alive for Ring of Fire In December, a major mining company, Cliffs Natural Resources Inc., suspended its $3.3-billion project in the area, blaming unresolved land claims, environmental assessment issues and lack of government support for infrastructure and power needs. Opposition critics blamed the Ontario Liberal government, saying it had “bungled” a major economic opportunity. Another 27 mining companies remain involved in the region, including the second largest player, Toronto-based Noront Resources Ltd. The Ring of Fire, which lies 500 kilometres northeast of Thunder Bay, is home to North America’s largest known deposit of chromite, a key ingredient in stainless steel. The 4,000-square-kilometre, mineral-rich area could generate a century’s worth of work for the economically depressed region. But the region will require up to $2 billion worth of infrastructure development before mining can go ahead, observers estimate. Gravelle assured reporters Friday the province is committed to the Ring of Fire project and is prepared to make “a significant infrastructure investment.” He also repeated his call on the federal government to get involved. “I was disappointed there was no mention in the federal budget of the Ring of Fire and certainly no commitment,” he said. “The Ring of Fire is a project of national significance.” On Friday evening, however, federal Minister of State (Science and Technology) Greg Rickford, released a statement on the issue: “Economic Action Plan 2014 reaffirmed our government’s commitment to the new Building Canada Plan. We look forward to the government of Ontario identifying its priority infrastructure projects under Building Canada, including those projects related to the Ring of Fire. …. Our government believes that the Ring of Fire is a legacy resource development project with the potential to contribute significantly to the economic future of Northern Ontario.” The cost and timing of Deloitte’s advice to the government was not disclosed in Friday’s announcement. Addressing the infrastructure issue is just one of a number of challenges facing the region. Deloitte will not be involved in discussions with First Nations over environmental and revenue-sharing agreements, Gravelle said. Talks between former Supreme Court of Canada Justice Frank Iacobucci, lead negotiator for the province, and former Ontario premier Bob Rae, lead negotiator for the Chiefs of the Matawa Tribal Council, have made “significant progress,” Gravelle said. However, “there is still work to be done,” he said, noting “it will be up to the Matawa chiefs and their communities to report back to us on the next step.” He declined to provide further details. The province appointed Iacobucci in July 2013."
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