2019 Recap
In 2019, drilling was focused on expanding the current gold resources, converting inferred resource into Measured and Indicated categories and testing new exploration targets. It was a highly successful year as we more than doubled the gold resource to 866,330 Measured and Indicated ounces and 2,293,500 inferred ounces and added the first Measured-category ounces on the project. In addition to expanding and improving previous gold resources, we were also successful in making new discoveries proximal to the historic resource zones, including the new Courvan trend which contributed 770,000 Ozs (Inferred category) to our 2019 resource estimate and the past-producing Monique mine to the east.
Most of the drilling was concentrated in and around the Pascalis, Courvan and Monique gold trends. The most notable drilling results were from the newly outlined Courvan trend with high-grade intercepts returning 9.6 g/t Au over 9.1 metres and 3.9 g/t Au over 30 metres, surrounding the historic
Probe also carried out regional geophysical and geochemical surveys, geological mapping and modelling to expand the scope of the Company's exploration programs within its 334 square kilometer property package. New targets were identified with modern, high-power geophysical surveys in areas where previous traditional surveys failed to identify anomalies. The most successful were 3D Induced Polarization ('3D IP') surveys that were able to delineate the disseminated sulphides that host the gold deposits. These surveys are being expanded in 2020 and a drill budget of 15,000 metres has been allocated to test for potential new discoveries, including potential new parallel trends to Courvan and Pascalis.
2020 Exploration Program - further resource growth and project advancement
The overall objective of the 2020 exploration program is to further expand and improve the gold resource while continuing to de-risk the project.
Following recent positive exploration results and the successful closing of an oversubscribed financing in
Of the 90,000 meters, the Company intends to drill approximately 55,000 metres on resource expansion and exploration, 20,000 metres on infill drilling and 15,000 metres on regional exploration. All of the current known gold zones are still open along strike and at depth. The Company will also continue to use advanced geophysical techniques, such as high power IP, to identify new targets on its regional land package.
Concurrent with the drilling program, the Company will continue to advance and de-risk the project with metallurgical testing on the gold zones, preliminary environmental baselining to cover the area of the main Pascalis & Courvan trends, as well as further geotechnical and geochemical investigations.
In summary, our significant success in 2019 and our extensive 2020 exploration program give us confidence that we will continue to grow our gold resources both locally and regionally. We are well-funded through 2020 and 2021 to achieve these goals and will be focused on aggressively exploring our extensive land packages.
The Val-d'Or East Project
In the recent years,
The Val-d'Or East project includes gold resources totaling 866,300 measured & indicated ounces and 2,293,500 inferred ounces.
About
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Email: info@probemetals.com
Forward-Looking Statements
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, 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.
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