Welcome!

News Feed Item

Probe Mines Announces 600-Metre Strike Expansion of the High-Grade Zone at Borden Gold

TORONTO, ONTARIO -- (Marketwired) -- 04/30/14 -- Probe Mines Limited (TSX VENTURE: PRB)

Highlights:


--  The 19,000 metre expansion drilling program has successfully expanded
    the high-grade gold zone 600 metres along strike, to Section 2600mSE,
    and remains open for further expansion to the southeast;

--  The 34 completed holes drilled in the expansion program returned
    significant intersections of gold mineralization over significant
    widths, including:

Section 2100mSE

40.0 metres averaging 3.0 g/t gold


--  including 11.3 metres grading 4.5 g/t gold

Section 2200mSE

38.0 metres averaging 2.2 g/t gold


--  including 10.7 metres grading 5.1 g/t gold

Section 2300mSE

17.9 metres averaging 3.6 g/t gold


--  including 5.8 metres grading 8.4 g/t gold

Section 2400mSE

71.0 metres averaging 3.5 g/t gold


--  including 4.7 metres grading 25.1 g/t gold
--  also including 16.3 metres grading 4.5 g/t gold

Section 2500mSE

10.3 metres averaging 7.7 g/t gold


--  including 5.0 metres grading 12.1 g/t gold

--  The mineralized zone appears to be leveling off and not plunging deeper
    to the southeast. The main part of the zone appears to be remaining
    between approximately 450-550 metres depth from Section 1800mSE to
    2600mSE.

Probe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received all results for its expansion drilling program (the "Program") on the Company's Borden Gold project near Chapleau, Ontario. Diamond drill holes BL14-587 to BL14-619 were received and were successful in demonstrating the continuity of the high-grade gold mineralization over 600 metres of additional strike length, which still remains open to the southeast. The program was also significant as it indicates that the High-Grade Zone ("HGZ") no longer deepens to the southeast but has leveled off and the center is remaining between approximately 450 and 550 metres depth. This could have positive implications for further exploration and potential development. All results from the expansion program will be included in the next updated 43-101-compliant Resource Estimate, which will be the first to include the HGZ.

The Program comprised 35 holes, drilled on 100 metre-spaced sections from 2100mSE to 2600mSE, with all completed holes intersecting gold mineralization. The Program was also successful in delineating the HGZ on all sections drilled. Highlights of the drilling include thick intersections of gold mineralization amenable to potential underground mining, the most notable being holes BL14-611 on Section 2400mSE which returned a 71-metre interval grading 3.5 g/t Au, including 4.7 metres of 25.1 g/t Au; and BL14-616W on Section 2100m SE consisting of 40 metres of 3.0 g/t Au, including 11.3 metres of 4.5 g/t Au. High-grade mineralization was also reported from hole BL14-594 on Section 2500mSE, returning 10.3 metres of 7.7 g/t Au, including 5.0 metres averaging 12.1 g/t Au.

Only one hole, BL14-608, was drilled on Section 2600mSE, but successfully intersected gold mineralization, including almost three metres averaging 8.7 g/t Au within a broad envelope of 26.6 metres grading 1.6 g/t Au. This indicates that there is still potential for further expansion of the HGZ.

The program represents first-phase drilling on sections 2100mSE to 2600mSE and successfully delineated the HGZ across 600 metres of expanded strike length. In addition to the potential for further expansion of the HGZ, it is expected that infill drilling on these sections will continue to improve grades significantly.

One infill drill hole, BL14-617 (Section 1150mSE) is included in these results and was drilled due to increased accessibility during the winter season.

The following table shows selected drill results for the HGZ expansion drilling, No top-cut was used in calculating the gold intervals. Depths of the mineralized zone averaged approximately 480 metres depth. All drill widths approximate true width. Updated plan and section maps for all holes are also available on the Company's website at: www.probemines.com/s/Borden_Lake.asp?ReportID=569319

High-Grade Zone Expansion Drill Results


----------------------------------------------------------------------------
                                    From          To       Width          Au
DDH             Section              (m)         (m)         (m)       (g/t)
----------------------------------------------------------------------------
BL14-587        2200mSE            495.0       507.3        12.3         1.4
----------------------------------------------------------------------------
including                          500.7       507.3         6.6         2.1
----------------------------------------------------------------------------
BL14-587W       2200mSE            493.0       509.9        16.9         1.3
----------------------------------------------------------------------------
including                          497.0       501.0         4.0         3.5
----------------------------------------------------------------------------
BL14-588        2200mSE             LOST         ---         ---         ---
----------------------------------------------------------------------------
BL14-589        2100mSE            537.3       556.9        19.6         2.3
----------------------------------------------------------------------------
including                          538.0       543.0         5.0         5.0
----------------------------------------------------------------------------
also including                     553.0       556.9         3.9         3.7
----------------------------------------------------------------------------
BL14-589W       2100mSE            421.0       429.2         8.2         1.8
----------------------------------------------------------------------------
including                          427.8       429.2         1.4         5.3
----------------------------------------------------------------------------
BL14-590        2300mSE            488.0       499.1        11.1         1.1
----------------------------------------------------------------------------
including                          494.6       497.2         2.6         2.8
----------------------------------------------------------------------------
BL14-591        2200mSE            536.4       553.0        16.6         1.3
----------------------------------------------------------------------------
including                          536.4       540.6         4.2         2.9
----------------------------------------------------------------------------
BL14-592        2300mSE            445.0       509.0        64.0         2.0
----------------------------------------------------------------------------
including                          483.0       503.3        20.3         4.3
----------------------------------------------------------------------------
including                          487.0       502.0        15.0         5.0
----------------------------------------------------------------------------
BL14-593        2300mSE            534.5       552.0        17.5         1.1
----------------------------------------------------------------------------
BL14-594        2500mSE            452.0       475.0        23.0         1.2
----------------------------------------------------------------------------
including                          468.0       475.0         7.0         2.0
----------------------------------------------------------------------------
BL14-594                           489.1       499.4        10.3         7.7
----------------------------------------------------------------------------
including                          493.0       498.0         5.0        12.1
----------------------------------------------------------------------------
BL14-594                           509.0       517.3         8.3         2.0
----------------------------------------------------------------------------
BL14-595        2100mSE            454.0       488.0        34.0         2.5
----------------------------------------------------------------------------
including                          465.0       486.0        21.0         3.3
----------------------------------------------------------------------------
including                          477.0       485.0         8.0         6.8
----------------------------------------------------------------------------
BL14-596        2400mSE            566.0       570.9         4.9         2.3
----------------------------------------------------------------------------
BL14-597        2400mSE            490.0       500.0        10.0         1.6
----------------------------------------------------------------------------
including                          494.0       500.0         6.0         2.2
----------------------------------------------------------------------------
BL14-597                           515.0       517.0         2.0         4.5
----------------------------------------------------------------------------
BL14-597                           523.0       524.8         1.8        32.5
----------------------------------------------------------------------------
BL14-598        2300mSE            444.0       467.0        23.0         1.5
----------------------------------------------------------------------------
including                          458.0       466.0         8.0         2.4
----------------------------------------------------------------------------
BL14-599        2200mSE            480.0       504.3        24.3         1.5
----------------------------------------------------------------------------
including                          484.0       489.3         5.3         2.0
----------------------------------------------------------------------------
also including                     503.0       504.3         1.3        13.7
----------------------------------------------------------------------------
BL14-600        2100m SE           558.8       577.1        18.3         3.0
----------------------------------------------------------------------------
including                          567.1       574.0         6.9         5.4
----------------------------------------------------------------------------
BL14-601        2500mSE            453.0       468.0        15.0         1.7
----------------------------------------------------------------------------
BL14-601                           499.0       515.0        16.0         1.4
----------------------------------------------------------------------------
including                          502.0       506.8         4.8         2.8
----------------------------------------------------------------------------
BL14-602        2300mSE            480.0       509.2        29.2         1.3
----------------------------------------------------------------------------
including                          482.9       488.0         5.1         2.0
----------------------------------------------------------------------------
also including                     503.2       504.4         1.2         9.3
----------------------------------------------------------------------------
BL14-603        2100mSE            468.0       498.0        30.0         2.6
----------------------------------------------------------------------------
including                          472.0       475.0         3.0         9.9
----------------------------------------------------------------------------
also including                     486.0       490.0         4.0         3.0
----------------------------------------------------------------------------
BL14-604        2300mSE            551.6       569.5        17.9         3.6
----------------------------------------------------------------------------
including                          551.6       557.4         5.8         8.4
----------------------------------------------------------------------------
including                          553.5       557.4         3.9        10.6
----------------------------------------------------------------------------
BL14-605        2400mSE            553.0       577.8        24.8         1.1
----------------------------------------------------------------------------
including                          553.0       556.0         3.0         3.6
----------------------------------------------------------------------------
BL14-606        2200m SE           471.6       502.0        30.4         1.6
----------------------------------------------------------------------------
including                          471.6       486.0        14.4         2.6
----------------------------------------------------------------------------
including                          477.0       482.0         5.0         5.4
----------------------------------------------------------------------------
BL14-607        2500mSE            529.0       532.8         3.8         2.9
----------------------------------------------------------------------------
BL14-607                           551.9       563.6        11.7         1.4
----------------------------------------------------------------------------
including                          561.0       563.6         2.6         2.9
----------------------------------------------------------------------------
BL14-608        2600mSE            454.0       480.6        26.6         1.6
----------------------------------------------------------------------------
including                          475.0       477.9         2.9         8.7
----------------------------------------------------------------------------
BL14-609        2400mSE            440.0       480.0        40.0         2.3
----------------------------------------------------------------------------
including                          454.2       478.5        24.3         3.3
----------------------------------------------------------------------------
including                          475.3       478.5         3.2        10.8
----------------------------------------------------------------------------
BL14-610        2500mSE            470.0       484.0        14.0         1.2
----------------------------------------------------------------------------
including                          470.0       473.0         3.0         2.4
----------------------------------------------------------------------------
BL14-611        2400mSE            495.0       566.0        71.0         3.5
----------------------------------------------------------------------------
including                          509.0       513.7         4.7        25.1
----------------------------------------------------------------------------
including                          512.8       513.7         0.9        82.6
----------------------------------------------------------------------------
also including                     528.0       544.3        16.3         4.5
----------------------------------------------------------------------------
including                          529.0       537.0         8.0         5.6
----------------------------------------------------------------------------
BL14-612        2300mSE            489.4       492.0         2.6         4.3
----------------------------------------------------------------------------
BL14-613        2050mSE              TBC         ---         ---         ---
----------------------------------------------------------------------------
BL14-614        2100mSE            604.6       606.6         2.0         2.4
----------------------------------------------------------------------------
BL14-615        2200mSE            572.0       610.0        38.0         2.2
----------------------------------------------------------------------------
including                          593.1       603.8        10.7         5.1
----------------------------------------------------------------------------
including                          599.2       603.8         4.6         7.1
----------------------------------------------------------------------------
BL14-616        2100mSE           Parent         ---         ---         ---
----------------------------------------------------------------------------
BL14-616W       2100mSE            594.0       634.0        40.0         3.0
----------------------------------------------------------------------------
including                          609.0       620.3        11.3         4.5
----------------------------------------------------------------------------
including                          630.0       631.0         1.0        41.6
----------------------------------------------------------------------------
BL14-617        1150mSE            245.7       261.0        15.3         2.7
----------------------------------------------------------------------------
including                          246.7       253.8         7.1         4.0
----------------------------------------------------------------------------
BL14-618        2100mSE            631.0       649.0        18.0         3.0
----------------------------------------------------------------------------
including                          638.0       643.8         5.8         5.1
----------------------------------------------------------------------------
BL14-619        2200mSE            628.0       634.0         6.0         1.7
----------------------------------------------------------------------------
including                          631.8       633.0         1.2         4.5
----------------------------------------------------------------------------
W:        Wedge hole; Lost: hole lost during drilling; TBC: To Be Completed;
Parent:   hole used to wedge from

Dr. David Palmer, President and CEO of Probe, comments, "The Winter Program was a tremendous success in expanding the HGZ an additional 60% in strike length to over 1.6 kilometres. The recent results are still showing very thick intercepts of high-grade gold indicating the continuation of the robust gold system. In addition, the results also show the gold zone may be leveling off to the southeast and not getting deeper. This could have a positive effect on logistics and costs in any potential underground development scenario. Results to date have shown consistent improvement in grade along the entire 3.7 kilometres of strike length of the deposit, and we are very encouraged by these results which show significant potential for further improvement and expansion of the HGZ. Probe will be hard at work during 2014 advancing the project towards 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, 2014, the Company is well-positioned with approximately $29.4 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" 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. By their very nature, forward-looking information involves risks, uncertainties and other factors that 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 regarding 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.

Shares Issued: 75,784,727

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 Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution and join Akvelon expert and IoT industry leader, Sergey Grebnov, in his session at @ThingsExpo, for an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st 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 w...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...