Probe Mines (TSX-V:PRB, StockForum), a Toronto-based mineral exploration firm operating properties in Ontario, announced today that the company's infill drilling program within the High-Grade Zone (“HGZ”) at Borden Gold Project revealed the highest-grade interval to date on Hole BL 14-573.
Results from the campaign showed 39.0 metres averaging 16.3 g/t gold, 19.2 metres grading 31.6 g/t gold, 8.4 metres grading 66.3 g/t gold and 2.0 metres grading 238 g/t gold.
According to the news release, the continuing drill program at Borden for the ten new infill diamond drill holes BL13-568 to BL14-577, and two (2) extended holes BL13-493 and BL13-567W, demonstrated, “...the continuity and consistency of the high-grade gold mineralization, as well as the significant potential for increasing grade as drilling continues to define the mineralization to the southeast.”
It added, “Notably, Hole BL14-573 returned the most impressive grades observed within the deposit to date with an intersection of 39 metres grading 16.3 g/t Au, including a 19.4 metre interval of 31.6 g/t Au. Importantly, hole 573 was drilled only 150 metres from the furthest drilled section of the deposit to the southeast suggesting that the system is still very robust and has considerable potential for expansion.”
Probe has also started its winter-on-ice drilling program to target further expansion of the HGZ and a regional geophysical program on the company's East Limb Project is currently underway.
Company president and CEO, Dr. David Palmer, commented on the findings, “Once again the Borden Deposit has surprised us with even greater results. Hole BL14-573 is arguably the best hole drilled in the deposit to-date and is even more encouraging as it occurs only 150 metres from our furthest drilled section to the southeast.”
Dr. Palmer went on, “This bodes well for the high-grade expansion program which has just commenced on Borden Lake and which will follow the high-grade zone along strike. In addition to what is rapidly becoming one of the best new gold deposits, the project also has significant upside in its regional exploration potential.”
Then summed up, “Our regional program is based on the premise that where you find one deposit you tend to find others associated with the same mineralizing system, much like the World-class Timmins gold camp less than two hours to the east of us. 2014 is shaping up to be a pivotal year and we will continue to maintain our focus on advancing the Borden Gold project.”
Probe Mines was in the news recently when the company announced additional high-grade gold intersections at Borden at the beginning of January.
Shares gained 11.67% on the news to $2.87 per share.
Currently there are 75.7m outstanding shares with a market cap of $217.2 million.