Infill drilling 1.2 km south of the New Beliveau deposit at Probe Metals’ Val-d’Or East project in Quebec, has boosted the company’s confidence in the expansion potential of the resource.
The drill campaign at the project, 25 km east of the city of Val-d’Or, found two new and shallow gold discoveries.
The location of Probe Metals’ New Beliveau deposit. Credit: Probe Metals
The first, 1200 metres or 1.2 km south of the former Beliveau mine, returned an intercept of 7.4 grams gold per tonne over 12.4 metres from a depth of 147.5 metres. The intercept was within a broader zone of 24.5 metres grading 4.2 grams gold from a l depth of 145.5 metres.
The second, 600 metres to the south of the former Beliveau mine, cut 7.8 grams gold over 2.5 metres from a depth of 129 metres and 1.7 grams gold over 11.8 metres from a depth of 150.9 metres.
The discovery holes were the furthest step-outs from the deposit to date, and were identified in a recently completed induced polarization geophysical program, the first geophysics ever undertaken in the area.
David Palmer, Probe’s president and CEO, was travelling and unavailable for comment.
George Topping of IA Securities noted that the results supported his theory “that a combined open pit and underground operation is likely.”
“The economics of shallower ore to support deeper discoveries is also very useful,” he wrote in a brief research note. “With Integra Gold being acquired by Eldorado Gold for $590 million, there is clear appetite for Val-d’Or assets, should a viable resource be proven.
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