Probe Mines Continues to Define High-Grade Gold Zone on its Borden Gold Project, Ontario
14 Agosto 2013 - 7:00AM
Marketwired Canada
Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to
announce that it has received further assays from its ongoing drilling program
at the Company's Borden Gold project near Chapleau, Ontario. Results for 26
diamond drill holes, BL13-410 to BL13-435, were received and were successful in
identifying continued high-grade gold mineralization on Sections 1200m SE, 1250m
SE and 1300m SE; expansion of the HGZ to the northwest, as far as Section 950m
SE; and continued improvement in the potential bulk tonnage mineralization
through the infill drilling program.
Further results for the high-grade zone from Sections 1500m SE to 1900m SE are
expected shortly and will be released as soon as they are received. All four
drills are currently focused on infill and expansion drilling on the HGZ.
High-Grade Zone
Results from the ten infill drill holes in the high-grade gold zone returned
significant intersections of thick, high-grade gold mineralization. In addition
to expected results on Sections 1200m SE, 1250m SE and 1300m SE, drilling was
also successful in identifying the HGZ further to the northwest on Sections 950m
SE and 1150m SE, suggesting an expanded strike length for the HGZ of up to 950
metres.
Highlights from the HGZ drilling include intersections of: 47.0 metres grading
6.8 g/t Au at a vertical depth of approximately 330 metres, including 8.0 metres
averaging 32.7 g/t Au in Hole BL13-420 on Section 1300m SE; 19.4 metres grading
5.2 g/t Au at a vertical depth of approximately 260 metres, including 10.3
metres averaging 8.3 g/t Au from Hole BL13-413 also on Section 1300m SE; 29.4
metres grading 5.9 g/t Au at a vertical depth of 317 metres, including 6.5
metres averaging 15.3 g/t Au in Hole BL13-421 on Section 1100m SE; 21.1 metres
of 5.2 g/t Au at a vertical depth of 308 metres in Hole BL13-431 on Section 950m
SE; and 22.8 metres of 4.2 g/t Au at a vertical depth of 379 metres in Hole
BL13-430 on Section 1250m SE.
The following table shows selected results for the HGZ, with all intervals
approximating true width. Depths of the mineralized zones are between 225 and
379 metres vertical depth. Updated plan and section maps for all holes are
available on the Company's website at
http://www.probemines.com/s/Borden_Lake.asp?ReportID=569319:
High-Grade Zone Drill Results
----------------------------------------------------------------------------
From To Width Au
DDH Section (m) (m) (m) (g/t)
----------------------------------------------------------------------------
BL13-410 1300m SE 291.8 294.2 2.4 5.0
----------------------------------------------------------------------------
BL13-413 1300m SE 286.0 305.4 19.4 5.2
----------------------------------------------------------------------------
including 295.1 305.4 10.3 8.3
----------------------------------------------------------------------------
including 298.3 302.0 3.7 17.7
----------------------------------------------------------------------------
BL13-414 1200m SE 357.0 359.3 2.3 1.6
----------------------------------------------------------------------------
BL13-414 419.3 426.6 7.3 1.2
----------------------------------------------------------------------------
BL13-417 1300m SE 289.4 325.2 35.8 3.6
----------------------------------------------------------------------------
including 306.1 321.9 15.8 6.4
----------------------------------------------------------------------------
BL13-420 1300m SE 295.5 342.5 47.0 6.8
----------------------------------------------------------------------------
including 307.0 342.5 35.5 8.8
----------------------------------------------------------------------------
including 333.8 341.8 8.0 32.7
----------------------------------------------------------------------------
BL13-421 1100m SE 337.0 366.4 29.4 5.9
----------------------------------------------------------------------------
including 341.0 347.5 6.5 15.3
----------------------------------------------------------------------------
BL13-425 1250SE 340.3 375.7 35.4 2.1
----------------------------------------------------------------------------
including 357.7 370.5 12.8 3.2
----------------------------------------------------------------------------
including 360.0 365.2 5.2 4.6
----------------------------------------------------------------------------
BL13-430 1250SE 347.2 354.0 6.8 1.7
----------------------------------------------------------------------------
BL13-430 364.7 387.5 22.8 4.2
----------------------------------------------------------------------------
BL13-431 950m SE 303.7 316.6 12.9 1.0
----------------------------------------------------------------------------
BL13-431 334.0 355.1 21.1 5.2
----------------------------------------------------------------------------
including 344.0 345.0 1.0 73.5
----------------------------------------------------------------------------
BL13-434 1250mSE 300.0 307.2 7.2 1.7
----------------------------------------------------------------------------
BL13-434 366.8 402.5 35.7 1.7
----------------------------------------------------------------------------
including 390.3 401.0 10.7 3.2
----------------------------------------------------------------------------
Infill Drilling
Infill drilling between Sections 850m NW and 550m SE was successful in further
delineating the potential bulk tonnage gold mineralization, particularly at the
shallower (less than 200 metre) depths. Numerous intersections of thick gold
mineralization, at or above previous identified grades, were returned with
highlights of: 22.7 metres averaging 1.6 g/t Au at 167 metres vertical depth,
including 11 metres of 2.3 g/t Au in Hole BL13-415 on Section 550m SE; and 45.2
metres grading 1.4 g/t Au at 176 metres vertical depth, including 7.6 metres of
2.7 g/t Au in Hole BL13-435 on Section 250m SE. The results indicate overall
continued improvement in the lower-grade, potential open-pit, section of the
deposit. Gold mineralization still remains open in the northwest direction.
The following table shows selected results from the infill drilling, with all
intervals approximating true width. Depths of the mineralized zones are between
69 and 377 metres vertical depth:
Infill Drill Results
----------------------------------------------------------------------------
From To Width Au
DDH Section (m) (m) (m) (g/t)
----------------------------------------------------------------------------
BL13-411 550mSE NSA --- --- ---
----------------------------------------------------------------------------
BL13-412 800NW 101.0 103.0 2.0 2.9
----------------------------------------------------------------------------
BL13-412 196.0 223.0 27.0 1.1
----------------------------------------------------------------------------
including 205.9 222.2 16.3 1.4
----------------------------------------------------------------------------
BL13-415 550mSE 187.0 209.7 22.7 1.6
----------------------------------------------------------------------------
including 198.0 209.0 11.0 2.3
----------------------------------------------------------------------------
BL13-416 850NW 125.1 132.0 6.9 1.0
----------------------------------------------------------------------------
BL13-418 850NW 96.0 117.0 21.0 0.9
----------------------------------------------------------------------------
BL13-419 500mSE 200.6 218.0 17.4 1.3
----------------------------------------------------------------------------
including 212.0 217.0 5.0 2.3
----------------------------------------------------------------------------
BL13-422 850NW 162.4 195.0 32.6 1.0
----------------------------------------------------------------------------
including 179.1 182.0 2.9 3.1
----------------------------------------------------------------------------
BL13-423 450mSE NSA --- --- ---
----------------------------------------------------------------------------
BL13-424 550NW 170.0 183.1 13.1 0.9
----------------------------------------------------------------------------
including 170.0 177.1 7.1 1.1
----------------------------------------------------------------------------
BL13-426 350mSE 193.8 209.8 16.0 1.3
----------------------------------------------------------------------------
BL13-426 213.1 215.2 2.1 2.3
----------------------------------------------------------------------------
BL13-427 1050m SE 364.4 385.0 20.6 1.5
----------------------------------------------------------------------------
BL13-428 500NW DOWN DIP --- --- ---
----------------------------------------------------------------------------
BL13-429 300mSE 139.0 163.0 24.0 0.8
----------------------------------------------------------------------------
BL13-429 171.2 185.9 14.7 0.8
----------------------------------------------------------------------------
BL13-429 189.0 214.0 25.0 0.8
----------------------------------------------------------------------------
BL13-432 250mSE 139.0 158.2 19.2 0.9
----------------------------------------------------------------------------
BL13-433 500NW 86.1 90.0 3.9 2.7
----------------------------------------------------------------------------
BL13-435 250mSE 166.0 176.0 10.0 1.2
----------------------------------------------------------------------------
BL13-435 180.0 225.2 45.2 1.4
----------------------------------------------------------------------------
including 180.0 187.6 7.6 2.7
----------------------------------------------------------------------------
also including 212.0 218.0 6.0 2.1
----------------------------------------------------------------------------
(i) NSA - no significant assays
(i) DOWN DIP - hole drilled down dip of mineralization
Dr. David Palmer, President and CEO of Probe, comments, "Drill results continue
to confirm a consistent and extensive high-grade zone within the Borden Gold
Deposit, which is still open in the southeast direction. Since the discovery of
the high-grade mineralization in December, the technical program has been very
successful in delineating a robust gold system capable of supporting a potential
underground operation. Our current focus is to better define the high-grade gold
zone in order to begin evaluating its impact on project development."
Probe has instituted a strict quality assurance and quality control ("QA-QC")
program for the Borden Gold drill core sampling, with each fire assay furnace
batch of 40 samples including two certified reference materials (standards), one
blank sample and one core duplicate sample. Quality control guidelines and
ongoing QAQC monitoring are being carried out by Probe personnel.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration company whose key
asset is the Borden Gold Zone in Ontario, Canada. As of January 31, 2013, the
Company had approximately $32 million in treasury and a portfolio of highly
prospective mineral properties. In May 2013, the Company closed a private
placement of $15 million. As a result of the financing, Agnico Eagle Mines
Limited now owns 9.9% of the Company on a non-diluted basis. The Company is
actively exploring a significant new gold resource on its Borden Gold Zone near
Chapleau, Ontario and has 100% interest in the Black Creek chromite deposit
located in Northern Ontario. The Company's shares trade on the TSX Venture
Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical
information in this release. To find out more about Probe Mines Limited, visit
our website at www.probemines.com.
On behalf of Probe Mines Limited,
Dr. David Palmer, President & Chief Executive Officer
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. This News Release includes certain
"forward-looking statements". These statements are based on information
currently available to the Company and the Company provides no assurance that
actual results will meet management's expectations. 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. Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of the Company's
mineral properties, and the Company's financial condition and prospects, could
differ materially from those currently anticipated in such statements for many
reasons such as: changes in general economic conditions and conditions in the
financial markets; changes in demand and prices for minerals; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties encountered
in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. These and other factors should
be considered carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not undertake to update
any forward-looking statement that may be made from time to time by the Company
or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 75,659,727
FOR FURTHER INFORMATION PLEASE CONTACT:
Probe Mines Limited
Karen Willoughby
Director of Corporate Communications
(866) 936-6766
info@probemines.com
Probe Mines Limited
Patrick Langlois
Vice President, Corporate Development
(416) 777-6703
patrick@probemines.com
www.probemines.com
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