Probe Metals (TSXV: PRB) this morning announced that it has made new gold discoveries at its Cadillac Break East Gold Propert in the Val-d’Or East region. Highlights from the findings include new gold zones discovered on the eastern portion of the property, grading 4.2 grams per tonne gold over 4.2 metres at a depth of 315 metres, approximately 2 kilometres from known gold on the property.
Three new discoveries in total were made on the property, with the second discovery made 300 metres along strike of the known Sleepy deposit on the property. Here, 108 g/t gold over 1 metre at 236 metres was discovered. The third discovery saw 3.7 g/t gold over 8.7 metres at a depth of 136 metres made 900 metres along strike at the Sleepy deposit.
The Sleepy deposit is the premier known deposit on the Cadillac Break East property, with a known current resources of 307,350 ounces of gold, with a total of 1,855,300 tonnes measuring in at 5.1 g/t gold. The new discoveries announced this morning remain open in all directions.
Probe Metals currently has the option to acquire a 60% ownership position in the Cadillac Break East Gold property in the Val-d’Or East region from O3 Mining. Terms of the arrangement require proe to spend an aggregate of $5.0 million on exploration over a period of four years, with a path to increasing ownership to 70% being available as well.
Probe Metals last traded at $1.20 on the TSX Venture.
Information for this briefing was found via Sedar and Probe Metals. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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