Probe Gold Increases Val-d’Or Mineral Resources Highlights:
- Total Val-d’Or properties gold mineral resources currently stand at 3,793,900 ounces Measured and Indicated (“M&I”) and 1,418,700 ounces Inferred along all trends and deposits, representing a 28% increase from the 2021 Mineral Resource Estimate.
- Novador Project gold mineral resources, slated for development, currently stand at 3,793,900 ounces M&I and 1,179,400 ounces Inferred along the Monique, Pascalis, and Courvan gold trends deposits, representing a 30% increase from the 2021 Mineral Resource Estimate.
- Other Val-d’Or properties gold mineral resources currently stand at 239,200 ounces Inferred, including the Lapaska and Sleepy deposits.
- Significant mineral resources growth observed at the Monique deposit and strong conversion to M&I mineral resources seen at all three, Monique, Pascalis and Courvan gold trends deposits.
- Increases of 28% in total ounces and 72% of ounces contained in pit-constrained mineral resources, with strong potential for future resource growth.
- The Novador mineral resource estimate demonstrates significant increase in M&I ounces, with 111% increase in overall M&I ounces.
- Novador Monique and Pascalis gold trend deposits represent 83% of the pit-constrained Mineral Resource Estimate.
- Drills are currently active on a significant expansion and exploration program at Novador with drilling program increased by 15,000 metres to a total of 68,000 metres.
- Development work will continue with an Updated Preliminary Economic Assessment (“PEA”) in order to capture the value of significant growth, particularly at Monique and the potential increase in annual production profile.
TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to announce the release of an Updated Mineral Resource Estimate for its Val-d’Or project properties (the “Properties”) located near Val-d’Or, Quebec. Total gold mineral resources currently stand at 3,793,900 ounces in the Measured and Indicated (“M&I”) category and 1,418,700 ounces in the Inferred category along all trends and deposits. The estimate includes mineral resources from the Company’s 100%-owned deposits within the Novador Project (the “Project”), which comprises only those mineral resources along the Pascalis, Monique, and Courvan gold trends captured in the Preliminary Economic Assessment (“PEA”) (see News Release dated September 7, 2021). The mineral resources have shown significant improvement in both expansion and conversion over the previous mineral resources estimate and remain open for future expansion. The current Novador mineral resources stands at 3,793,900 ounces of gold in the M&I and 1,179,400 ounces of gold in the Inferred category, demonstrating a global increase for the overall project and excellent conversion rate from Inferred to Indicated resources. Drilling was successful in converting an additional 1,993,000 ounces to the M&I category from the previous mineral resource estimate. This updated mineral resource estimate was independently prepared by InnovExplo Inc. in accordance with National Instrument 43-101 (“NI 43-101”) and is dated July 13, 2023. Drills will be active throughout 2023 on further expansion and regional exploration with a significant drilling program totalling 68,000 metres at Novador.
Probe Gold Increases Val-d’Or Mineral Resources to (globenewswire.com)