Probe Mines Announces Excellent Metallurgical Recoveries for its High Grade Zone, Borden Gold Project, Ontario
21 Novembro 2013 - 8:00AM
Marketwired Canada
Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to
provide a progress update for its metallurgical program on the Borden Gold
project. Preliminary metallurgical results for the potential underground
high-grade gold mineralization extending east from the proposed open pit, have
been received and show excellent extraction of gold using standard processing
techniques. New composites were created based on the two (2) predominant gold
bearing lithologies in that zone: felsic gneiss and pegmatite. The average head
grades were 6.47 g/t Au and 9.52 g/t Au respectively. Metallurgical response of
these composites to gravity and whole ore leach (WOL) were determined.
Gravity for the high-grade composites responded extremely well with an average
of 60% gold extraction. Leaching was performed at two different grinds approx.
100 microns and approx. 60 microns, and in duplicate. Overall extraction ranged
between 93.9% and 97.9%, and are presented in Table 1.
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Gravity WOL Overall
Composites Head Grade Grind Extraction Extraction Extraction
---------------------------------------------------------------
g/t Au microns % % %
----------------------------------------------------------------------------
Felsic Gneiss 6.47 108 59.1 85.2 93.9
---------------------------------------------------------------
6.47 109 59.1 86.8 94.5
---------------------------------------------------------------
6.47 61 59.1 93.6 97.4
---------------------------------------------------------------
6.47 61 59.1 94.4 97.7
----------------------------------------------------------------------------
Pegmatite 9.52 102 65.8 88.1 95.9
---------------------------------------------------------------
9.52 101 65.8 88.8 96.2
---------------------------------------------------------------
9.52 63 65.8 94.0 97.9
---------------------------------------------------------------
9.52 62 65.8 93.8 97.9
----------------------------------------------------------------------------
Table 1: High-Grade Zone Metallurgical Extraction
Completed work for the Preliminary Economic Assessment ("PEA") includes
metallurgical and comminution testing on the lower-grade zone (open pit).
Metallurgical tests include gold extraction from gravity, flotation and leach
from different geo-domain composites, fine regrind, settling, and In-Line
Reactor (ILR) test work. The comminution test program includes: Drop-Weight Test
(DWT), SAG Mill Comminution Test (SMC), Bond Ball Mill Work Index (BWi), Rod
Mill Work Index (RWi), Abrasion Index (Ai), Unconfined Compression Test (UCS)
and Low Energy Impact Test. These results are providing the input data to
perform a series of trade-off studies, in particular to compare the two main
process options (gravity, whole ore leach vs. gravity, flotation and leach of
flotation residues and reground flotation concentrate). For the low-grade zone,
the flotation process route provides slightly better gold recoveries. Final
results will be released upon completion.
Mr. Michael Petrina, Chief Operating Officer of Probe, states: "These
metallurgical results from the high-grade zone are very encouraging and are not
surprising given the amount of visible gold observed in drill cores. These
results show an overall increase in gold extraction response. The potential for
a simplified flowsheet, where no flotation/regrind option would be required has
very positive implications in a potential development scenario. Borden Gold
continues to improve in all areas".
The metallurgical testing was carried out under the supervision of BBA Inc. and
was conducted by SGS Mineral Services (Lakefield) and Process Research Ortech
Inc. (Mississauga). The contents of the above have been approved by Qualified
Person Mr. Jacques McMullen, P.Eng of BBA Inc., independent consultants to
Probe.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration company whose key
asset is the Borden Gold Project in Ontario, Canada. As of July 31, 2013, the
Company is well-positioned with approximately $38.5 million in treasury. 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.
Michael Petrina, P. Eng., 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:
Karen Willoughby
Director of Corporate Communications
Tel: (866) 936-6766
Email: info@probemines.com
Patrick Langlois
Vice President, Corporate Development
Tel: (416) 777-6703
Email: patrick@probemines.com
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