ONTARIO – Toronto’s Probe Mines has updated resource estimate for its Borden gold project near Chapleau, for the first time including the high grade underground material. The project will also support an open pit.
With a 2.5 g/t cut-off, the underground high grade resource contains 9.26 million indicated tonnes grading 5.39 g/t Au plus 3.03 million inferred tonnes at 4.37 g/t Au. The two categories contain 1.60 million oz of gold and 426,000 oz, respectively.
At a 0.5 g/t cut-off, the pit resource includes 70.30 million indicated tonnes grading 1.03 g/t Au pus 247,000 inferred tonnes at 0.80 g/t. Respectively, they contain 2.32 million oz and 6,000 oz of gold.
Probe noted that the number of underground ounces has grown at the expense of the number of ounces recoverable by open pit. In addition to the re-distribution of ounces, the parameters used in this resource update are more conservative than those used earlier.
The Borden deposit was discovered in 2010. Learn more at ProbeMines.com.