Probe Gold increases Novador resource estimate by 28%

Staff Writer | July 20, 2023 | 8:30 am Exploration Canada Gold

Drill rigs on Probe Gold’s Novador project. The company has released a new mineral resource estimate that has increased resources by 28%. Credit: Probe Gold

Probe Gold (TSX: PRB) has updated the mineral resource estimate for its Val-d’Or project properties in Quebec by 28%. The total gold mineral resources now stand at 3.79 million oz. measured and indicated and 1.42 million oz. inferred along all trends and deposits.

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.

Drilling in 2022 converted an additional 1.99 million oz. to the measured and indicated category from the previous mineral resource estimate. Drills at Novador will be active throughout 2023 on a 68,000 metre drill program.

The updated mineral resource estimate was independently prepared by InnovExplo. Probe Gold says development work will continue with an updated preliminary economic assessment based on these results.

Company president and CEO David Palmer said, “We are fully funded and have increased our expansion drilling program on Novador and will be adding the new Croinor gold mineral resources to our portfolio.”