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Probe Metals Intersects 4.7 g/t Au over 26.0 metres (cut), on the Monique Property, Val-d’Or East Project

Highlights: •    New results continue to return impressive gold grades and thickness   •    M…

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This article was originally published by Resource World

Highlights:

•    New results continue to return impressive gold grades and thickness  
•    M zone resource expansion drilling results returned best intercept to date on the Monique property: 4.7 g/t Au over 26.0 metres (7.5 g/t Au over 26.0 metres – uncut), including 182.0 g/t Au over 0.9 metre at 300 metres vertical depth, open along strike and at depth
•    Drilling results continue to confirm expansion and continuity of the A, B, I & M zones with highlights of up to 3.8 g/t Au over 21.7 metres, 3.1 g/t Au over 19.5 metres, 1.4 g/t Au over 19.5 metres, 5.8 g/t Au over 3.3 metres and 5.8 g/t Au over 3.0 metres, between surface and 300 metres vertical depth
•    Three drills active on the Val-d’Or East Project for current 45,000-metre program; 125,000-metre drill program planned for 2022

Probe Metals Inc. (TSX-V: PRB) (OTCQB: PROBF) (“Probe” or the “Company”) is pleased to provide the third set of results from the 2021 drill program on its 100%-owned Val-d’Or East Monique property (the “Property”) located near Val-d’Or, Quebec. Results from seven (7) holes totalling 2,843 metres from the 45,000-metre ongoing drilling program revealed significant, new high-grade mineralized intersections along strike and at depth in the A, B, I and M gold zones southeast of the former Monique open pit mine (see figure 1). This year’s drill program on the Monique property is focussed on resource expansion as well as resource conversion. Results from over 70 drill holes are pending. Selected highlights from the current drill results are presented below.

David Palmer, President and CEO of Probe, states, “Since its discovery in 2019, the M zone has quickly expanded into one of the key mineralized systems on the property. Today’s results demonstrate the incredible exploration potential that exists on the Val-d’Or East Project, with the M Zone returning one of the highest-grade intercepts to date beyond the boundary of the current resource. These kinds of results will definitely help build ounces in the next resource update and advance the project towards development, potentially increasing the production profile, pit sizes, and mine life.  We are currently planning an extensive exploration program for 2022, which will represent the largest program to date for Val-d’Or East.”

Expansion drilling holes MO-21-123 to 127 were designed to test the extension of the A, B, I and M zones laterally and from surface to 350 metres depth. The upper part of hole MO-21-122 tested the continuity of the A and B zones while the lower part explored the extension of the I and M zones, at shallow (open pit) depths. Infill hole MO-21-121 was designed to test the eastern extension of the J and G zones inside the conceptual pits between surface to 100 metres depth. All the expansion drilling holes released today returned significant new gold intercepts, which are all open along strike and at depth. Based on the new results, additional expansion and infill drilling has been planned to test the continuity of these zones. We are currently planning a 125,000-metre drill program at Val-d’Or East for next year. The program will focus on the conversion of inferred resource into indicated category, while still targeting significant expansion. Two drills are now active on infill drilling at the Monique eastern A, B, E, I and M zones area while a third drill is turning on the Courvan trend area.

All results released today will be included in an updated resource for the Val-d’Or East project, which will form the basis of the prefeasibility study (PFS) expected to be completed in 2023. The PFS is an important step in advancing the project to production and work will run concurrently with environmental studies and permitting.

Selected drill results from holes MO-21-121 to 127 at the Monique Area drilling program are, as follows:

(1) All the new analytical results reported in this release and in this table, are presented in core length. True width is estimated between 65 to 95 % of core length. A capping of 100 g/t is used for the Monique Gold Trend Deposits.

Figure 1: Surface Map – Monique Gold Trend new drilling

About the Monique Property:

The Monique property is located 25 km east of Val-d’Or, in Quebec, and consists of 21 claims and one mining lease covering a total area of 5.5 square kilometres in Louvicourt township. The property hosts a current measured and indicated mineral resource of 13,619,000 tonnes at a grade of 1.54 g/t for 672,800 ounces of gold and inferred mineral resource of 11,733,000 tonnes at a grade of 1.78 g/t for 671,400 ounces of gold (source: Probe Metals NI 43-101 Technical Report Val-d’Or East Project – June 2021). The Property is part of the Company’s Val-d’Or East Project and the consolidated land package stands at 436 square kilometres.

Geology

Gold mineralization on the Monique property is mainly associated with three deformation zones that cross the property with an orientation of 280° and a 75°- 80° dip to the north. Gold mineralization is defined by a network of quartz/tourmaline/carbonate veins and veinlets with disseminated sulphides in the altered wall rocks. A total of 16 gold zones have been discovered on the property, to-date. Some mineralized zones have been defined from surface to a depth of 575 metres and vary in width from 1 metre to up to 60 metres. Mineralized structures extend laterally up to 900 metres.

Past Production

The Monique open pit mine began commercial production in 2013 and ceased production at the end of January 2015. A total of 0.58 Mt of mineralized material was extracted at a grade of 2.53 g/t Au, from the surface to 100 metres depth for a total of 45,694 ounces of gold.

Qualified Person:

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Marco Gagnon, P.Geo, who is a “Qualified Person” within the meaning of NI 43-101, and Executive Vice-President and a director of Probe.

Quality Control:

During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in half, with one-half sent to a certified commercial laboratory and the other half retained for future reference. A strict QA/QC program was applied to all samples, which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire-assays with an atomic absorption finish on 50 grams of materials. Repeats were carried out by fire-assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more. Total gold analyses (Metallic Sieve) were carried out on the samples which presented a great variation of their gold contents or the presence of visible gold.

About Probe Metals:

Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the multimillion-ounce Val-d’Or East Gold Project, Québec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Québec. The Company was formed as a result of the $526M sale of Probe Mines Limited to Goldcorp. Eldorado Gold Corporation currently owns approximately 11.5% of the Company.

On behalf of Probe Metals Inc.,

Dr. David Palmer,

President & Chief Executive Officer

For further information:

Please visit our website at www.probemetals.com or contact:

Seema Sindwani

Director of Investor Relations
[email protected]
+1.416.777.9467

 

Forward-Looking Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan” and include, but are not limited to, statements with respect to: the results of the PEA, including future Project opportunities, future operating and capital costs, closure costs,  AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.








eldorado gold corporation

Author: Staff Writer

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Karora Resources Strengthens Board with Appointment of New Australian-based Director Shirley In’t Veld

TORONTO, Dec. 6, 2021 – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce the appointment…

TORONTO, Dec. 6, 2021 – Karora Resources Inc. (TSX: KRR) (OTCQX: KRRGF) (“Karora” or the “Corporation”) is pleased to announce the appointment of Shirley In’t Veld to its Board of Directors effective immediately.

Paul Andre Huet, Chairman and CEO of Karora said, “”I am pleased to welcome Shirley In’t Veld to Karora’s Board of Directors. The addition of Shirley’s extensive experience as a senior executive and director in the Australian mining, renewables and energy sectors to our team further strengthens our Board and is a strong endorsement of Karora’s position as a premier gold producer. In particular, her experience as a former Director of Northern Star Resources (an Australian gold producer with World class projects located in Australia and North America), her in depth knowledge of Western Australia, and expertise in ESG matters will be a tremendous addition to our Board. We look forward to benefitting from Shirley’s input as we continue to unlock the full potential of our Australian operations.”

Shirley In’t Veld has over 30 years of career experience in mining, renewables and energy sectors. She is currently a Director of Alumina Limited, NBN Co Limited (National Broadband Network Co.) and APA Group. She was formerly Deputy Chair of CSIRO (Commonwealth Science and Industrial Research Organisation), Director of Northern Star Resources Limited, Perth Airport, DUET Group, Asciano Limited and Alcoa of Australia Limited and a Council Member of the Chamber of Commerce and Industry of Western Australia. She was also the Managing Director of Verve Energy (2007 – 2012) and, previously, served 10 years in senior roles at Alcoa of Australia Limited, WMC Resources Ltd, Bond Corporation and BankWest Perth.

In 2014, Shirley was Chair of the Queensland Government Expert Electricity Panel and a member of the Renewable Energy Target Review Panel for the Australian Department of Prime Minister and Cabinet. She also served as a member of the COAG Energy Council Selection Panel, a Council member of the Australian Institute of Company Directors (Western Australia) and the SMART Infrastructure Facility (University of Wollongong).

About Karora Resources 

Karora is focused on doubling gold production to 200,000 ounces by 2024 compared to 2020 and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.6 Mtpa processing plant, expanding to a planned 2.5 Mtpa by 2024, which is fed at capacity from Karora’s underground Beta Hunt mine and Higginsville mines. At Beta Hunt, a robust gold Mineral Resource and Reserve is hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,900 square kilometers. The Company also owns the high grade Spargos Reward project which is anticipated to begin mining in 2021. Karora has a strong Board and management team focused on delivering shareholder value and responsible mining, as demonstrated by Karora’s commitment to reducing emissions across its operations. Karora’s common shares trade on the TSX under the symbol KRR and also trade on the OTCQX market under the symbol KRRGF.

Cautionary Statement Concerning Forward-Looking Statements

This news release contains “forward-looking information” including without limitation statements relating to the growth potential of the Beta Hunt Mine, the results of exploration and development work, liquidity and capital resources of Karora, production guidance and the potential of the Beta Hunt Mine, Higginsville Gold Operation, the Aquarius Project and the Spargos Gold Project.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Karora to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Karora ‘s filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.

Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Cautionary Statement Regarding the Higginsville Mining Operations
A production decision at the Higginsville gold operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville gold operations by Karora and Karora made a decision to continue production subsequent to the acquisition. This decision by Karora to continue production and, to the knowledge of Karora, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Corporation’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

www.karoraresources.com

SOURCE Karora Resources Inc.



Author: MikeyMike426

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Copaur Minerals Looks To Acquire New Placer Dome Gold In An All-Stock Deal

Copaur Minerals Inc. (TSXV: CPAU) announced on Friday evening a binding letter agreement stipulating its planned acquisition of all the
The post Copaur…

Copaur Minerals Inc. (TSXV: CPAU) announced on Friday evening a binding letter agreement stipulating its planned acquisition of all the issued and outstanding common shares of New Placer Dome Gold Corp. (TSXV: NGLD). The acquisition is expected to be settled in an all-stock deal.

The combination of the British Columbia-focused Copaur Minerals and Arizona-focused New Placer Dome Gold is said to “create a leading gold-copper exploration and development company with a portfolio of assets in two of North America’s foremost mining districts.”

Under the terms of the agreement, each New Placer Dome Gold share held will be exchanged for 0.1182 shares of Copaur Minerals, the ratio being a 55% premium on the 20-day average price of each company as of November 30, 2021.

The firm reported that after the transaction, New Placer Dome Gold will become a wholly-owned subsidiary representing 47% equity in Copaur Minerals and will be delisted from the TSX Venture Exchange. New Placer Dome Gold is also being proposed to get a minimum of two seats on the Copaur Minerals board, subject to the latter’s approval.

Currently, New Placer Dome Gold has approximately 170.4 million shares while Copaur Minerals has roughly 23.0 million shares.

In their latest quarterly financials dated September 30, 2020, Copaur Minerals recorded total assets worth $5.87 million and a net loss of $0.07 million while New Placer Dome Gold reported a total of $14.59 million in assets and a net loss of $0.08 million.

A concurrent financing by the two companies is in the pipeline as a condition to the transaction, with plans to raise gross proceeds of up to $15.0 million. Copaur Minerals will also lend New Placer Dome Gold $0.8 million in debt to fund the latter’s exploration work on the Bolo property. The loan is convertible to company units at $0.08 per unit at the sole discretion of Copaur Minerals.

The proposed transaction is expected to close in March 2022, subject to the approval of the shareholders of New Placer Dome Gold and customary regulatory approvals and closing conditions.

Copaur Minerals last traded at $1.16 while New Placer Dome Gold last traded at $0.085 on the TSX Venture. Trading for both shares has been halted since the announcement of the acquisition.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Copaur Minerals Looks To Acquire New Placer Dome Gold In An All-Stock Deal appeared first on the deep dive.




Author: ER Velasco

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Precious Metals

Top Silver Stocks To Watch In December

3 Silver Stocks For Your Watchlist…

3 Silver Stocks For Your Potential Watchlist

In recent times, the market for silver stocks has been fairly interesting to follow. Throughout the last year and a half, the price of silver assets has skyrocketed due to the pandemic. Many silver assets gained more in percentage terms than gold stocks. This drew a large number of new investors to the metal who had previously disregarded it.

The pandemic and market uncertainties have produced a level of volatility that has prompted some investors to reinvest in silver stocks. Silver stocks were also boosted as mainstream media reported that Reddit traders were pushing the metal’s price higher at the start of 2021. This drew a lot more attention to silver equities and, as a result, more investors.

So, why should you buy silver stocks? Silver, like gold, is an asset that people may own rather than money. When a metal is utilized more frequently by industrial enterprises, it tends to perform better. Fears of inflation are also affecting this industry right now, and no one knows what will happen in the end. So, plainly, there is a lot to consider if you are considering investing in silver stocks. Some people make an investment plan to pick which tickers to buy. With this in mind, let’s take a look at three silver stocks to keep an eye on right now.

Top Silver Stocks To Watch

Fortuna Silver Mines Inc. (NYSE: FSM)

Fortuna Silver Mines is a company that explores, extracts, and processes precious metals. The company is looking for reserves of silver, gold, zinc, and lead. Its main assets include the Cayloma and San Jose mines, as well as the Lindero Gold Project.

The business recorded a record third-quarter 2021 output of 87,950 gold equivalent ounces on October 12th. Its overall gold production in the quarter was 26,235 ounces, with 24,318 ounces in dore and a 1918 ounce gain in gold-in-carbon inventory. It produced 68,088 ounces of gold in the first nine months of 2021. This figure is consistent with the company’s revised annual outlook.

The company stated that “Gold production was 1,529 ounces, an increase of 12 percent over the third quarter of 2020. The increase in production is due to higher head grades located in the Animas NE vein. Gold production for the first nine months of 2021 totaled 4,712 ounces, which is above plan.” Will FSM be on your list of silver stocks to watch?

Endeavour Silver Corp. (NYSE: EXK)

Endeavour Silver Corp. is a silver firm that we have previously discussed extensively. This corporation acquires, explores, and develops land. Endeavour is working on mineral processing, refining, and reclamation. The majority of Endeavour’s key assets are in both Mexico and Chile. Endeavour’s mines are mostly used to mine silver and gold.

On December 2nd, the company announced that it has intersected high-grade silver-gold mineralization at its Guanacevi and Bolanitos operations. At its Guanacevi operations, it reported 1.97 gpt Au and 1,254 gpt Ag for 1,412 gpt AgEq over a 3.22 m ETW, and 4.36 gpt Au and 1,450 gpt Ag for 1,798 gpt AgEq over a 3.18 m ETW. At Bolanitos, Endeavour reported 8.08 gpt Au and 151 gpt Ag for 797 gpt AgEq over a 1.67 m ETW, and 1.26 gpt gold and 241 gpt silver for 342 gpt AgEq over a 0.96 m ETW.

CEO of Endeavour, Dan Dickson said, “We continue to see exceptional drilling results within the El Curso and the Santa Cruz Sur systems at our Guanacevi silver mine. We have been operating at Guanacevi for more than 15 years and these encouraging results support our view that we can continue to extend the mine life.” Will EXK be on your silver stock watchlist?

Harmony Gold Mining Company Limited (NYSE: HMY)

Harmony Gold Mining Company Limited is a mining stock that has been mentioned a lot on goldstocks.com in the past. This firm searches for, extracts, and processes gold, silver, copper, and uranium. It presently operates in South Africa and Papua New Guinea, both of which have proven to be profitable for the company.

The company’s earnings and revenues increased year over year in fiscal year 2021, according to the most recent release. This was owing to rising metal prices and the company’s rapid expansion. Given that Harmony hasn’t issued any updates in quite some time, it’ll be interesting to see what they have in store for their shareholders before the end of the year.

Best Silver Stocks In 2021?

It’s challenging to decide which silver stocks to buy. There are several factors to consider before investing in mining companies. However, completing an extensive study and selecting what is ideal for you will be quite beneficial throughout the process. Which silver stocks will you be keeping an eye on for the time being?

The post Top Silver Stocks To Watch In December appeared first on Gold Stocks to Buy, Picks, News and Information | GoldStocks.com.

Author: Joe Samuel

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