Published on: 1/7/2014 3:09:57 PM Print | Font Sizes:  Normal Text Large Text

Drilling begins at Chapleau gold property

By: Northern Ontario Business staff

Probe Mines is starting its 2014 drilling program at its Borden gold project near Chapleau. Four drills will focus on the high-grade zone discovered in 2013.

The news comes after Probe announced results for 50 drill holes from its 2013 program and confirmed the “remarkable continuity and consistency of the high-grade gold mineralization” discovered last year. The mineralization was expanded to more than a kilometre of strike length.

In a news release, the company said 2013 was a milestone year, with Borden “evolving into a robust, high-grade gold deposit with the potential to become a less capital-intensive project that is also less sensitive to fluctuations in gold price.” It was Probe’s highest production year, as well as its lowest in terms of per-unit costs.

Highlights of the 2013 drilling results include a hole that returned an interval of 35 metres grading 4.0 g/t gold, including 20 metres of 6.5 g/t gold. Fifty metres away, drilling returned an interval of 17.5 metres averaging 6.6 g/t gold, including 8.3 metres of 11.0 g/t gold in hole BL13-567.

Probe president and CEO Dr. David Palmer said in a news release that "2013 was a great year for the project, with continued improvement in the deposit through the delineation of an extremely robust high-grade zone; increasing efficiency with lower costs, keeping us strong in weak markets; and the potential of continued expansion and discovery, all suggesting a promising year ahead for 2014.”

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