Results from 25 new holes and one depth extension hole demonstrate continued strike and depth expansion with significant gold intercepts along the Monique gold zones. The 2022 drill program aimed to convert, expand, and discover new gold resources within and surrounding the conceptual pits from the 2021 PEA report. Given the continued positive expansion drill results, the company is also pleased to report that it is increasing the 2022 Val-d’Or East drilling program to 165,000-metres (from 150,000-metres). Results from over 175 holes drilled since the beginning of 2022 at Monique are still pending and will be released as they are received. Selected highlights from the current results are presented below.
Dr. David Palmer, President and CEO, stated: “For 2022 we set a number of goals for the Val-d’Or East Project, including resource growth; conversion of Inferred resources into Measured and Indicated categories; and coalescing the numerous smaller open pits into a fewer number of larger pits by connecting them with the drilling. These goals will all contribute to a better, more efficient, and more robust development project at Val-d’Or East and results like these released today for the Monique drill program are improving our confidence that we will achieve these goals in the 2023 prefeasibility study and add considerable value to our project.”
Eighteen of the 26 holes released today are from the expansion drilling program designed to test the extension of the A, G, I, J, K, P and T zones laterally and at depth. Nine of these expansion drilling holes intersected gold structures with grade times thickness above 15.0 g/t gold x metre.
Eight holes are from the resource conversion drilling program designed to test the continuity of A, G, I and K zones inside the conceptual pits between surface to approximately 300 metres depth and the G zone around 350 metres depth. These holes intersected gold mineralization where predicted by our 3D model and confirmed the current block model with respect to grades and thicknesses.
Based on the drilling completed along the Monique Gold Trend since the PEA, the results demonstrate a strong continuity of the sub-parallel to parallel gold zones over a volume of more than 2 km long by 1 km wide and locally up to 600 metres depth. The Monique Gold Trend zones are all open along strike and at depth. In addition to drilling activities, Probe is advancing, rock mechanics, ground geotechnical, metallurgical and baseline studies on the project, and has initiated community and social engagement activities.
Selected drill results from holes MO-22-327 to 351 and deepening of hole MO-22-325 at the Monique Area drilling program are, as follows: Drill hole MO-22-325 returned 15.4 metres of 4.4 g/t gold in the J Zone, including 0.8 metres of 25.9 g/t gold. MO-22-336 returned 0.7 metres of of 341.0 g/t gold (uncut), P Zone; 5.1 metres of 8.5 g/t gold, G Zone, including 1.0 metres of 38.6 g/t gold, G Zone.
MO-22-343 returned 34.4 metres of 1.3 g/r gold, J Zone. MO-22-345 returned 25.5 metres of 1.3 g/t gold, I Zone, including 0.9 metres of 25.3 g/t gold. MO-22-348 returned 15.4 metres of 1.7 g/t gold, I Zone.
Probe Metals is committed to discovering and developing high-quality gold projects, including its key asset the multimillion-ounce Val-d’Or East Gold Project. The Company is well-funded and controls a strategic land package of approximately 1,500-km2 of exploration ground within some of the most prolific gold belts in Quebec. Eldorado Gold currently owns approximately 10% of the company.