Dr. David Palmer reports
PROBE GOLD COMMENCES INFILL DRILL PROGRAM AT NOVADOR PROJECT, QUEBEC
Probe Gold Inc. has begun a 50,000-metre infill drill program on its Novador development program, focused on resource conversion in preparation for the upcoming prefeasibility study (PFS). To date, 10,115 metres of the current infill drilling program have been completed at Monique and at Courvan, with results pending. Currently, four drills are operational at the site, with plans to increase to eight drills for the winter drilling season.
The infill drilling program aims to upgrade 100 per cent of the inferred category resource included in the preliminary economic assessment (PEA) mine plan to the indicated category. In total, 72 per cent of the resource in the PEA is already in the indicated category. The infill drilling will include an estimated 150 drill holes for a total estimate of 50,000 metres at the Novador project. In preparation for the PFS, Probe is also conducting comprehensive engineering, environmental and social studies. The company is aiming to complete the PFS by the end of 2025.
Dr. David Palmer, president and chief executive officer of Probe, stated: "The primary objective of the infill drill program is to convert the inferred resources in our PEA into the indicated category required for the PFS, scheduled for completion in late 2025. The PFS represents a critical milestone in advancing the Novador project toward development. With a strong treasury heading into 2025, Probe's main focus is to continue advancing Novador, positioning it as a premier project capable of thriving in any gold price environment. Based on the progress made to date in permitting, resource growth to over 10 million ounces and mine-plan improvement, including a smaller number of larger open pits, our confidence in the project's potential continues to grow and we have a clear path forward to development."
Qualified person
The scientific and technical content of this press release has been prepared, reviewed and approved by Marc Ducharme, PGeo, vice-president of exploration, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
About Probe Gold Inc.
Probe Gold is a leading Canadian company focused on the acquisition, exploration and development of highly prospective gold properties. The company is well financed and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100 per cent of its flagship asset, the multimillion-ounce Novador gold project in Quebec, as well as the early-stage Detour gold project in Quebec. Probe controls a large land package of approximately 1,685 square kilometres of exploration ground within some of the most prolific gold belts in Quebec. The company's recently updated Novador preliminary economic assessment outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life.
Val d'Or properties include gold resources totalling 6,728,600 ounces in the measured and indicated category and 3,277,100 ounces in the inferred category along all trends and deposits.
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