Welcome!

News Feed Item

Probe Mines Announces High-Grade Infill Drilling Results at Borden Gold

TORONTO, ONTARIO -- (Marketwired) -- 07/07/14 -- Highlights:


-  Results from the preliminary infill drilling program of the recent High-
   Grade Zone ("HGZ") expansion area returned significant intervals of gold
   mineralization, including Hole BL14-621W on Section 2150mSE, with an
   interval of:

   21.0 metres averaging 7.0 g/t gold
     - including 13.0 metres grading 10.5 g/t gold

-  Results continue to confirm the strong continuity of the high-grade
   mineralization

Probe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received results for the first five holes of the preliminary infill drilling program within the recently expanded area of the High-Grade Zone ("HGZ") on the Company's Borden Gold project near Chapleau, Ontario. Diamond drill holes BL14-620 to BL14-624 were received and were successful in demonstrating the presence of high-grade gold mineralization, as well as confirming the continuity of the gold mineralization, within the recently expanded HGZ drilled during the last winter program. The drilling confirms that high-grade gold mineralization, similar to that intersected in previous infill drilling programs on previously delineated areas of the HGZ, is present within the new expansion zone.

The infill program is designed to test the new extension of the HGZ between Sections 2050 and 2200, at 50 metre-spacing, in order to better define the high-grade mineralization. The program was successful in identifying grades similar to those observed in previously delineated sections of the HGZ between 900mSE and 2000mSE. Hole BL14-620W, on Section 2150m SE, intersected a thick zone of high-grade gold mineralization, returning an interval of 21 metres averaging 7.0 g/t Au, including a 13-metre wide intercept of 10.5 g/t Au. Significantly, the mineralization was intersected at a vertical depth of only 425 metres depth, suggesting that the mineralization is in fact shallower than previously expected. These preliminary results also suggest that continued improvement in grade is possible with continued infill drilling, the bulk of which will be accomplished during the next winter program.

The following table shows selected drill results for the HGZ expansion drilling, No top-cut was used in calculating the gold intervals, the highest grade in a single sample was 26.4 g/t in Hole BL14-621W. Depths of the mineralized zone ranged between approximately 395 and 425 metres vertical, with the exception of Hole BL14-620, which intersected mineralization at a vertical depth of approximately 620 metres. All drill widths approximate true width. Updated plan and section maps for all holes are also available on the Company's website at http://www.probemines.com/s/Borden_Lake.asp?ReportID=569319.


                    High-Grade Zone Infill Drill Results
----------------------------------------------------------------------------
                                  From           To        Width          Au
DDH               Section          (m)          (m)          (m)       (g/t)
----------------------------------------------------------------------------
BL14-620          2050mSE        636.0        649.7         13.7         2.8
----------------------------------------------------------------------------
                including        637.9        646.9          9.0         3.6
----------------------------------------------------------------------------
BL14-621W        2150m SE        564.4        600.0         35.6         4.5
----------------------------------------------------------------------------
                including        579.0        600.0         21.0         7.0
----------------------------------------------------------------------------
                including        583.0        596.0         13.0        10.5
----------------------------------------------------------------------------
BL14-622         2200m SE        633.0        636.0          3.0         4.9
----------------------------------------------------------------------------
BL14-623          2050mSE        592.0        602.3         10.3         1.3
----------------------------------------------------------------------------
BL14-624          2150mSE        540.0        550.0         10.0         2.5
----------------------------------------------------------------------------
W: Wedge hole

Dr. David Palmer, President and CEO of Probe, comments: "The results of the infill drill program continue to confirm the strong continuity of the high-grade gold system to the southeast. The significant intervals identified in the winter program, and improved upon in this preliminary infill drilling program, indicate a robust gold system in both grade and width that remains open to the southeast. With the potential for increasing grade and further expansion, the HGZ provides significant upside for exploration in addition to its growing momentum as a potential development project. We will be focused on advancing both aspects during the 2014-2015 seasons."

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. 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 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: 76,374,727

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
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...