Highlights:
- New, near-surface,
Gold Zone discovered 400 metres East of theBussiere Mine Zone ; significant new gold intersections grading up to 6.2 g/t Au over 13.0 metres (cut) (7.6 g/t Au over 13.0 metres uncut), including 68 g/t Au over 1.0 metre; 4.1 g/t Au over 6.0 metres; and 1.1 g/t Au over 29.0 metres. - Near-surface expansion drilling on the Creek Deposit intersected parallel gold zones grading up 6.2 g/t Au over 9.1 metres (cut) (18.5 g/t Au over 9.1 metres uncut), including 162 g/t Au over 1.0 metre; and 18.4 g/t Au over 3.0m (cut) (23.9 g/t Au over 3.0m uncut), including 66.4 g/t Au over 1.0 metre.
- Near-surface expansion drilling at Bussiere Deposit intersected thick gold zones grading up to 1.0 g/t Au over 61.0 metres.
- An additional 10 holes totaling 2,300 metres have been drilled on the new discovery area during the on-going 2024 Winter drilling program (results pending).
Forty of the forty-seven holes (10 exploration drill holes and 37 resource expansion drill holes) drilled to identify or expand near-surface mineralization returned gold intercepts over 0.4 g/t Au, which is above the cut-off grade used in the 2023 pit-constrained resource estimate. Seventeen (17) holes returned gold intercepts with gold grade times thickness (g/t x m) above 10. Exploration and expansion drilling near the Bussiere and Creek deposits identified significant new parallel gold zones in the Bourlamaque intrusive and gold zones of interest in the volcanics to the East, the latter being a first-hole discovery. The Bussiere deposit remains open laterally and has been drilled only to shallow depths. Previous drilling under 350 metres deep at the Creek deposit yielded positive results and indicates good expansion and exploration potential laterally and at depth.
The latest drilling results continue to improve our 3D model of Courvan. The mineralization is characterized by a series of shallow-dipping East-West gold-bearing veins situated next to shear zones that cut the Bourlamaque granodiorite batholith. The gold veins encountered are primarily composed of sulphide-bearing quartz-carbonate-tourmaline, and gold is typically associated with centimeter-scale pyrite masses within the veins, as well as zones containing 1% to 5% finely disseminated pyrite in the host rocks. Gold mineralization intersected in the volcanics is associated with a shear zone and sulphide-bearing quartz-carbonate-tourmaline veins.
Selected drill results from the fall 2023 Courvan Bussiere and Creek deposits drilling program are, as follows:
Hole Number | From (m) | To (m) | Length (m) | Gold (g/t) | Zone / Resource |
CO-23-334 | 191.3 | 201.0 | 9.7 | 1.1 | Creek / Expansion |
CO-23-339 | 18.3 | 27.4 | 9.1 | 18.5 (uncut) | Creek / Expansion |
CO-23-339 | 18.3 | 27.4 | 9.1 | 6.2 (cut) | Creek / Expansion |
CO-23-339 | 24.4 | 25.4 | 1.0 | 162.0 | Creek / Expansion |
CO-23-342 | 72.0 | 85.4 | 13.4 | 0.7 | Creek / Expansion |
CO-23-346 | 83.6 | 168.0 | 84.4 | 0.8 | Bussiere / Expansion |
CO-23-347 | 157.5 | 173.3 | 15.8 | 0.9 | Creek / Expansion |
CO-23-348 | 95.5 | 156.5 | 61.0 | 1.0 | Bussiere / Expansion |
CO-23-349 | 110.8 | 164.0 | 53.2 | 0.8 | Bussiere / Expansion |
CO-23-350 | 90.5 | 109.0 | 18.5 | 0.6 | Creek / Expansion |
CO-23-356 | 50.0 | 53.0 | 3.0 | 23.9 (uncut) | Creek / Expansion |
CO-23-356 | 50.0 | 53.0 | 3.0 | 18.4 (cut) | Creek / Expansion |
including | 52.0 | 53.0 | 1.0 | 66.4 | Creek / Expansion |
CO-23-357 | 133.9 | 154.0 | 20.1 | 1.0 | Bussiere / Expansion |
CO-23-358 | 53.5 | 87.0 | 33.5 | 0.7 | Bussiere / Expansion |
CO-23-359 | 48.5 | 68.0 | 19.5 | 0.7 | Bussiere / Expansion |
CO-23-361 | 192.0 | 205.0 | 13.0 | 7.6 (uncut) | |
CO-23-361 | 192.0 | 205.0 | 13.0 | 6.2 (cut) | |
including | 199.0 | 200.0 | 1.0 | 68.0 | |
CO-23-361 | 273.7 | 279.7 | 6.0 | 4.1 | Bussiere / Expansion |
CO-23-365 | 201.5 | 203.0 | 1.5 | 10.8 | Southeast / / Expansion |
CO-23-366 | 298.0 | 299.0 | 1.0 | 14.7 | Southwest / Expansion |
CO-23-366 | 321.0 | 337.0 | 16.0 | 1.3 | Southwest / Expansion |
COE-23-001 | 41.5 | 55.5 | 14.0 | 0.9 | Area 19 / Explo |
COE-23-009 | 20.5 | 27.5 | 7.0 | 1.5 | |
COE-23-009 | 121.5 | 150.5 | 29.0 | 1.1 | |
COE-23-009 | 161.0 | 176.0 | 15.0 | 1.3 |
(1) All the new analytical results reported in this release and in this table, are presented in core length and cut to 50 g/t Au when needed. True width is estimated between 65 to 95 % of core length. Only grade times thickness above 10.0 g/t Au * m is reported.
Figure 1: Surface Map – Courvan Gold Trend new drilling results
About Probe’s
Since 2016, Probe Gold has been consolidating its land position in the highly prospective Val-d’Or East area in the province of
Val-d’Or properties include gold resources totaling 3,793,900 ounces in the Measured and Indicated category and 1,418,700 ounces in the Inferred category along all trends and deposits (news release dated
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed, and approved by Mr.
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 Gold:
Probe
On behalf of
Dr.
President & Chief Executive Officer
For further information:
Please visit our website at www.probegold.com or contact:
Vice-President of Investor Relations
info@probegold.com
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Forward-Looking Statements
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a632e1b1-f15f-4ef8-b72e-a29d23410dfc
Figure 1: Surface Map – Courvan Gold Trend new drilling results
Surface Map – Courvan Gold Trend new drilling results
2024 GlobeNewswire, Inc., source