Probe Metals drills 6 g/t gold 16 metres at Val-d’Or East, Quebec

Probe Metals Inc. [PRB-TSXV; PROBF-OTCQB] reported additional results from the 2021 drill program on its 100%-owned Val-d’Or East Monique property near Val d’Or, Quebec. Results from 71 holes from the 2021 resource expansion and infill drilling program revealed significant, new gold mineralization along strike and at depth in the A, B, E, G, I, J and M gold zones east, southeast and south of the former Monique open pit mine. Results from 40 holes drilled in 2021 and over 80 holes drilled since the beginning of 2022 are still pending. All the holes released today were successful in intersecting gold mineralization where predicted by our 3D geological model and add confidence to the project’s gold resources.

Selected highlights from the current results include 4.0 metres of 12.2 g/t gold, including 1.0 metre of 43.8 g/t gold; 18 metres of 3.7 g/t gold, including 0.9 metres of 22.9 g/t gold; 40.1 metres of 1.2 g/t gold; 10.0 metres of 5.6 g/t gold, including 1.0 metre of 39.9 g/t gold and 16.0 metres of 6.0 g/t gold, including 0.7 metres of 103.0 g/t gold. Refer to company press release for complete drill results.

Dr. David Palmer, president and CEO, stated: “The Monique property continues to outperform in its expansion program, particularly with the multiple high-grade intervals being returned from drilling. In addition to numerous thick, high-grade gold zones, all of the results released today are within 300 metres of the surface and can be accessed in the earlier mining operations. These results also bode well for deeper exploration of high-grade zones that can support underground operations and extend mine life. Infill programs are also demonstrating significant success and confirming the quality of the current resource while upgrading resource for the Pre-feasibility Study, which is in progress. Monique is quickly becoming a centre of gravity for the project and we currently have eight drills turning on this property to advance it as rapidly as possible.”

Expansion drilling holes were designed to test the extension of the known mineralization laterally to the east and at shallow depth. About 40 drill holes were designed to convert a proportion of the in-pit Monique resources of the inferred category into the indicated category. Infill and expansion drilling continue to show positive results, good continuity and, strike and depth expansion along the Monique gold zones.

Probe has initiated the largest drill program to date at Val-d’Or East totalling 150,000 metres. One of the main goals of the program is to convert inferred resource into indicated category. 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.