Probe Metals Inc. (TSX-V: PRB) (OTCQB:
PROBF) (“Probe” or the
“
Company”) announces that in response to the
Quebec’s government confirmation that all exploration activities
can resume effective May 11th, 2020, it has restarted exploration
at its Val-d’Or East project in Quebec. The 2020 exploration
program will gradually resume with up to 3 drills on the project.
Despite the recent shutdown, Probe remains on track to complete its
2020 exploration program.
Probe has implemented precautionary measures to
closely monitor the health and safety of the community, returning
employees, contractors and suppliers. The Company has also modified
its operating procedures to comply with the recommendations of the
Department of Public Health and Province’s Committee on Standards,
Equity, and Occupational Safety (CNESST). To date, Probe and its
main drilling contractor, Spektra Drilling have had no suspected or
confirmed cases of COVID-19 and have had a COVID-19 protocol in
place since March 12, 2020, to protect their respective work
forces.
The 2020 Exploration Program at Val-d’Or
East
The 2020 exploration program consists of 90,000
metres of drilling, 290km of IP, updated 3D geological models and
new technical work to advance the Project. Drilling is focused on
expanding and delineating the Project’s current gold resources as
well as defining potential new gold deposits within its regional
land holdings. Of the 90,000 meters, the Company intends to drill
approximately 55,000 metres on resource expansion and exploration,
20,000 metres on infill drilling and 15,000 metres on regional
exploration. All of the current known gold zones are still open
along strike and at depth. The Company will also continue to use
advanced geophysical techniques, such as high-power 3D IP, to
identify new targets on its regional land package.
The Val-d’Or East Project
In the recent years, Probe Metals has been
consolidating its land position in the highly prospective Val-d’Or
East area of Quebec. The Val-d’Or East project is a district-scale
land package comprising 435 square kilometers and represents one of
the largest land holdings in the Val-d’Or mining camp. The property
is host to three past producing mines (Beliveau Mine, Bussiere Mine
and Monique Mine) and falls along four regional mine trends,
including 14 kilometres of strike length along the prolific
Cadillac Break. Val-d’Or East is situated in a politically stable
and low-cost mining environment that hosts numerous active
producers and mills.
The Val-d’Or East project includes gold
resources totaling 866,300 measured & indicated ounces and
2,558,100 inferred ounces.
Qualified PersonsThe scientific
and technical content of this press release has been reviewed,
prepared and approved by Mr. Marco Gagnon, P.Geo, Executive Vice
President, who is a "Qualified Person" as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101").
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 Val-d’Or
East Gold Project, Quebec. 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 Quebec. The Company was formed as a
result of the sale of Probe Mines Limited to Goldcorp in March
2015. Newmont currently owns approximately 12% 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 SindwaniDirector of Investor
Relationsinfo@probemetals.com+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”. 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.
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