Probe Gold (TSX: PRB | OTCQB: PROBF) updated its mineral resource estimate for its Val-d’Or project properties in Quebec, Canada. The total gold mineral resources now stand at 3.79Moz measured and indicated and 1.41Moz inferred along all trends and deposits.
The Val-d’Or land tenure for the company’s Novador project includes the Pascalis, Monique, Lapsaka, Megiscane-Tavernier, and Courvan properties.
“In 2022, we undertook our most ambitious drill programme to date, with the primary goals of converting inferred gold ounces to M&I ounces while continuing to expand the mineral resources size at Novador,” commented Probe CEO David Palmer.
“We successfully converted 76% of our gold mineral resources to M&I categories while expanding the Monique mineral resources by over 1Moz. As a result of the successful expansion drilling programme and the increased Monique mineral resources, we will be updating the 2021 PEA.”
The estimate includes mineral resources from the company’s 100%-owned deposits within the Novador project comprising only those mineral resources along the Pascalis, Monique, and Courvan gold trends captured in the preliminary economic assessment.
Increases included 28% in total ounces and 72% of ounces contained in pit-constrained mineral resources, with strong potential for future resource growth.
Drilling in 2022 converted an additional 1.99Moz to the measured and indicated category from the previous mineral resource estimate. Drills at Novador will be active throughout 2023 on a 68,000m drill programme.
The updated mineral resource estimate was independently prepared by InnovExplo. Development work will continue with an updated preliminary economic assessment (PEA) in order to capture the value of significant growth, particularly at Monique and the potential increase in annual production profile.
For further information, please visit: www.probegold.com
