Probe Gold Inc T.PRB

NR Probe Metals Intersects 3.4 g/t Au Over 17.8 metres

[mrrbc]

https://www.probemetals.com/site/assets/files/1425/probemetals_release_2019-05-22_vde_drilling_final.pdf


NEWS RELEASE – 4/2019 Symbol: TSX-V: PRB Shares Issued: 110,653,195 Probe Metals Intersects 3.4 g/t Au Over 17.8 metres in infill drilling at Val-d’Or East Project, Quebec Highlights: • Drilling results at New Beliveau continue to confirm bulk tonnage potential with intercepts grading up to 3.4 g/t Au over 17.8 metres, including 12.2 g/t Au over 3.3 metres and 2.2 g/t Au over 25.2 metres, including 4.7 g/t Au over 7.0 metres; • Resource expansion drilling east of North Zone continued to intersect mineralization with intervals grading up to 2.9 g/t Au over 7.0 metres • Results still pending for approx. 22,000 metres of drilling for the Pascalis, Courvan and Monique areas Toronto, May 22, 2019 – PROBE METALS INC. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to provide new results from its on-going drill program on the Pascalis Property, which includes the New Beliveau, North, South and Highway gold zones, located near Vald’Or, Quebec. Results from fifty-five (55) drill holes, totaling 16,875 metres, were received for infill and resource expansion drilling along the Pascalis gold trend (See Figure 1). Significant new drill results from the current program are presented below. David Palmer, President and CEO of Probe, states “Winter drill results continue to indicate a broad, robust gold system along the Pascalis gold trend. Work to date has greatly increased our understanding of the main controls on gold deposition and in 2019 we plan to expand our exploration programs to target new areas where we are seeing strong potential for the discovery of additional gold deposits.” Although resource growth and expansion remain a priority for the Company, these recent drill results indicate the potential for significant resource conversion as we advance our model towards a reservebased mine plan. Infill drilling results continue to support the potential for a bulk tonnage, open-pit gold system and confirm our 3D geological interpretation as well as demonstrating continuity in gold mineralization. Assay results from selected drill holes are reported in the following table: Selected drill results from the Pascalis Gold Trend Area drilling program1 Hole Number From (m) To (m) Length (m) Au (g/t) Area PC-18-444 8.5 10.0 1.5 8.8 North Zone / Volcanics 86.0 95.0 9.0 1.2 North Zone / Volcanics PC-18-451 333.5 334.5 1.0 15.1 New Beliveau / Volcanics PC-18-452 117.8 164.0 46.2 0.7 North Zone / Volcanics&Dyke including 117.8 126.1 8.3 2.2 North Zone / Dyke including 120.8 121.8 1.0 8.8 North Zone / Dyke PC-18-455 207.7 214.7 7.0 2.9 North Zone / Volcanics&Dyke including 210.7 211.7 1.0 9.1 North Zone / Dyke PC-18-458 169.3 179.5 10.2 1.5 New Beliveau South / Volcanics including 169.3 171.3 2.0 4.6 New Beliveau South / Volcanics PC-18-462 42.8 52.5 9.7 1.3 New Beliveau South / Volcanics 140.5 150 9.5 1.7 New Beliveau South / Volcanics including 145.7 146.7 1.0 9.6 New Beliveau South / Volcanics PC-18-463 38.0 41.0 3.0 2.9 New Beliveau / Volcanics 213.5 222.0 8.5 3.2 New Beliveau / Volcanics including 213.5 215.0 1.5 5.7 New Beliveau / Volcanics including 217.5 219.0 1.5 10.2 New Beliveau / Volcanics 243.0 247.5 4.5 3.1 New Beliveau / Volcanics PC-18-464 218.8 219.8 1.0 11.0 North Zone / Volcanics&Dyke PC-18-467 103.0 109.0 6.0 2.4 New Beliveau / Volcanics 131.0 134.0 3.0 3.5 New Beliveau / Volcanics PC-18-469 156.9 177.2 20.3 1.2 North Zone / Volcanics including 164.0 166.0 2.0 5.5 North Zone / Volcanics PC-18-471 51.0 52.0 1.0 11.0 New Beliveau South / Dyke 222.0 239.0 17.0 2.1 New Beliveau South / Dyke including 237.0 239.0 2.0 11.6 New Beliveau South / Dyke PC-18-472 166.0 167.5 1.5 9.3 New Beliveau / Dyke PC-18-473 144.0 150.0 6.0 2.1 North Zone / Volcanics&Dyke including 148.0 149.0 1.0 10.0 North Zone / Volcanics&Dyke PC-18-474 384.7 402.5 17.8 3.4 New Beliveau / Volcanics including 384.7 388.0 3.3 12.2 New Beliveau / Volcanics 431.0 434.0 3.0 3.8 New Beliveau / Volcanics 461.5 466.5 5.0 2.3 New Beliveau / Volcanics PC-18-475 19.0 20.0 1.0 66.9 New Beliveau / Volcanics PC-18-477 108.5 136.5 28.0 1.0 New Beliveau South / Dyke 250.0 275.2 25.2 2.2 New Beliveau South / Dyke including 268.2 275.2 7.0 4.7 New Beliveau South / Dyke PC-18-478 13.0 25.0 12.0 1.5 New Beliveau / Volcanics PC-18-479 113.5 119.6 6.1 4.4 North Zone / Volcanics including 117.5 118.5 1.0 24.5 North Zone / Volcanics PC-18-482 263.0 264.0 1.0 86.8 New Beliveau / Volcanics PC-18-483 176.0 179.0 3.0 4.2 New Beliveau / Dyke PC-18-485 129.0 142.0 13.0 1.3 North Zone / Volcanics including 138.0 142.0 4.0 2.7 North Zone / Volcanics 174.3 176.3 2.0 5.4 North Zone / Volcanics PC-18-490 186.5 196.5 10.0 2.3 New Beliveau South / Volcanics including 186.5 188.0 1.5 13.9 New Beliveau South / Volcanics PC-18-491 317.1 328.8 11.7 2.2 New Beliveau / Volcanics&Dyke including 317.1 318.2 1.1 16.8 New Beliveau / Volcanics&Dyke PC-18-495 100.7 126.0 25.3 1.7 New Beliveau South / Volc&Dyke including 100.7 115.5 14.8 2.7 New Beliveau South / Dyke including 104.0 108.5 4.5 5.5 New Beliveau South / Dyke (1) All the new analytical results reported in this release and in this table, are presented in core length and uncut. Additional drilling is planned for the immediate area which will enable the true width determination. Figure 1: Surface Map – Val-d’Or East - Pascalis Gold Trend Area https://www.probemetals.com/site/assets/files/1425/vde-courvan-surface_map-201905_final.pdf The New Beliveau Gold Deposit The New Beliveau deposit consists predominantly of a series of parallel, east-west trending, moderately dipping, mineralized zones hosting gold-bearing quartz-pyrite-tourmaline veins. Gold mineralization occurs in the veins and also in the host wall rocks. The sulphide content is generally 1 to 5% but may reach up to 10% in the higher-grade sections. The extent of the alteration zone, which consists of a mixture of quartz, tourmaline, dolomite, albite, and euhedral pyrite is commonly twice the thickness of the vein itself. The north-south trending diorite dykes also contain significant gold with gold grades typically increasing in areas where the dykes are intersected by the east-west quartztourmaline veins. Wall rocks for both systems consist of intermediate volcanics rock. Together with the Highway, North and South Zones, the New Beliveau Deposit hosts a NI 43-101 resource of 682,400 ounces Indicated at 2.35 g/t gold and 722,100 ounces Inferred at 2.41 g/t gold. Qualified Persons The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Marco Gagnon, P.Geo, Executive Vice President, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Quality Control During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in half, with one-half sent to a certified commercial laboratory and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire-assayed with an atomic absorption finish on 50 grams of materials. Repeats were carried out by fire-assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Total gold analyses (Metallic Sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold. About Probe Metals: Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp Inc. in March 2015. Newmont Goldcorp Corporation currently owns approximately 13.7% of the Company. On behalf of Probe Metals Inc., Dr. David Palmer, President & Chief Executive Officer For further information: Please visit our website at www.probemetals.com or contact: Seema Sindwani Director of Investor Relations [e-mail] +1.416.777.9467