ONTARIO – Probe Mines of Toronto has released the first resource estimate for its Borden Lake gold project. The deposit may contain as much as 4.0 million oz of gold and 5.3 million oz of silver.
The 43-101 report was prepared for Probe by Micon International. Using a cut-off of 0.3 g/t Au, the indicated resource is 11.6 million tonnes averaging 0.82 g/t Au and 0.90 g/t Ag. The indicated category includes 169.3 million tonnes at 0.69 g/t Au and 0.90 g/t Ag. The estimate was calculated using both ordinary kriging and inverse distance cubed methods, both of which gave similar results.
The Borden Lake deposit lies within 1 km of Hwy 101 between Timmins and Chapleau. Probe believes the property has potential for an extensive mineralized zone. Drilling continues.
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