Welcome!

News Feed Item

Probe Mines Announces High-Grade Infill Drill Intercepts, Including 7.0 g/t Gold Over 39.5 Metres, for its Borden Gold Project, Ontario

TORONTO, ONTARIO -- (Marketwired) -- 02/18/14 -- Probe Mines Limited (TSX VENTURE: PRB)

Highlights:


--  Infill drilling within High-Grade Zone ("HGZ") returned significant gold
    mineralization in Hole BL14-583on Section 1000mSE. This drill hole is
    located near the northwest end of the HGZ and demonstrates higher grades
    than previously encountered, returning:
    --  39.5 metres averaging 7.0 g/t gold
        --  including 28.5 metres grading 9.1 g/t gold
        --  including 16.0 metres grading 12.4 g/t gold

--  Infill Hole BL14-584 on Section 1050mSE (50m southeast of BL14-583)
    returned a significant intersection of:
    --  34.8 metres averaging 5.1 g/t gold
        --  including 12.6 metres of 11.4 g/t gold

--  Infill Hole BL14-582 on Section 950mSE (50m northwest of BL14-583)
    returned a thick gold intercept, consisting of:
    --  30.1 metres averaging 3.5 g/t gold
        --  including 2.9 metres grading 14.1 g/t gold
        --  also including 7.2 metres grading 4.4 g/t gold

--  Results continue to confirm the importance of the infill drill program
    through the identification of higher grades within the deposit, and
    particularly in the HGZ

Probe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received further results for its on-going drill program on the Company's Borden Gold project near Chapleau, Ontario. Results are for the last nine (9) holes completed from the land-based infill drilling program on the High-Grade Zone ("HGZ") before the start of the on-ice drilling, which is currently underway. Diamond drill holes BL14-578 to BL14-586 were received and were successful in demonstrating the continuity and consistency of the high-grade gold mineralization. Holes BL14-583, -584, -582 and -586 are of particular importance as they demonstrate increasing grades at shallow depths (220-250 metres) within the northwest end of the HGZ (Sections 950mSE to 1100mSE) and indicate that the HGZ is still improving within its known strike length. Significantly, all four drill holes are located northwest of the original HGZ discovery hole, BL12-256, on Section 1200mSE (see News Release dated December 12, 2012).

Diamond drill hole BL14-583 returned a thick intersection of high-grade gold on Section 1000mSE consisting of 39.5 metres averaging 7.0 g/t gold ("Au"), which includes a higher-grade interval of 16 metres averaging 12.4 g/t Au. Fifty metres to the southeast (Section 1050mSE), Hole BL14-584 returned an equally significant 34.8 metres grading 5.1 g/t Au, including 12.6 metres of 11.4 g/t Au, while fifty metres to the northwest (Section 950mSE), Hole BL14-582 displayed an notable section of 30.1 metres averaging 3.5 g/t Au, which includes a 7.2 metre interval of 4.4 g/t Au. These results confirm the importance of the infill program and its contribution to the overall increase in the gold grades observed within the deposit.

The following table shows selected drill results for the HGZ infill drilling, which includes the shallow and deep holes necessary to bracket the gold mineralized structure in order to more accurately define its boundaries. No top-cut was used in calculating the gold intervals. Depths of the mineralized zones in Holes BL14-582, -583, -584 and -586, on sections 950mSE to 1100mSE are between 220 and 250 metres vertical depth. Mineralized intervals from holes to the southeast, on sections 1850mSE to 1950mSE, are between 420 and 570 metres vertical depth. All intervals approximate true width. Updated plan and section maps for all holes are also available on the Company's website at www.probemines.com:

High-Grade Zone Drill Results


----------------------------------------------------------------------------
                              From            To         Width            Au
DDH       Section              (m)           (m)           (m)         (g/t)
----------------------------------------------------------------------------
BL14-578  1900mSE            426.3         429.0           2.7           6.9
----------------------------------------------------------------------------
          1900mSE            534.0         549.0          15.0           1.8
----------------------------------------------------------------------------
          including          540.0         549.0           9.0           2.4
----------------------------------------------------------------------------
BL14-579  1850mSE            554.0         565.8          11.8           1.0
----------------------------------------------------------------------------
BL14-580  1950mSE            586.7         612.0          25.3           1.4
----------------------------------------------------------------------------
          including          597.4         606.0           8.6           2.3
----------------------------------------------------------------------------
BL14-581  1900mSE            459.1         464.4           5.3           1.3
----------------------------------------------------------------------------
          1900mSE            557.9         563.9           6.0           1.7
----------------------------------------------------------------------------
BL14-582  950mSE             237.9         268.0          30.1           3.5
----------------------------------------------------------------------------
          including          237.9         240.8           2.9          14.1
----------------------------------------------------------------------------
          also including     253.3         260.5           7.2           4.4
----------------------------------------------------------------------------
BL14-583  1000mSE            232.0         271.5          39.5           7.0
----------------------------------------------------------------------------
          including          243.0         271.5          28.5           9.1
----------------------------------------------------------------------------
          including          243.0         259.0          16.0          12.4
----------------------------------------------------------------------------
BL14-584  1050SE             237.0         271.8          34.8           5.1
----------------------------------------------------------------------------
          including          247.0         259.6          12.6          11.4
----------------------------------------------------------------------------
BL14-585  Lost Hole            ---           ---           ---           ---
----------------------------------------------------------------------------
BL14-586  1100SE             223.0         260.0          37.0           2.5
----------------------------------------------------------------------------
          including          244.1         260.0          15.9           4.6
----------------------------------------------------------------------------
          including          244.1         248.0           3.9           8.7
----------------------------------------------------------------------------

Dr. David Palmer, President and CEO of Probe, comments, "It is encouraging to see continued improvement within the high grade zone, and more importantly at its northwest end where mineralization tends to be shallowest. The increasing grade observed in the northwest between Sections 950mSE and 1100mSE suggests that there are still improvements to be made within the current strike length of the high-grade zone, in addition to the strong potential for expansion now being tested out on the ice. These results re-affirm the value of the infill program, which will continue to be one area of focus for the 2014 exploration program."

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 October 31, 2013, the Company is well-positioned with approximately $33.4 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.

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: 75,684,727

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...