Union files complaint against Orla Mining, alleging violation of worker rights in Mexico
The complaint is only the second of its kind made from Canada using CUSMA’s RRM process since the trade deal came into force in 2020.
Probe Gold’s (TSXV: PRB) latest assays from its Novador gold project in Quebec’s Abitibi region lengthen the strike, likely increase the resource and make it an acquisition target, an analyst said on Tuesday.
Toronto-based Probe’s 175-sq.-km Novador project, about 500 km northwest of Montreal, holds the past-producing Beliveau, Bussière and Monique mines. The site, 25 km east of Val-d’Or, consists of three satellite areas: Monique, Pascalis and Courvan. The project, which used to be called Val-d’Or East, issued assay results in a news release.
“At least 500 metres of strike length has been added to the known Courvan resource size between two previously defined open-pits,” Barry Allan, a mining analyst for Laurentian Bank, wrote in a note. “The high success rate of drilling suggests a total resource increase of 1 million oz. or more to over 6 million oz. total.”
The improved resource potential, following the tripling of the indicated gold resource at the Monique deposit in January, places the Novador project on a path to be acquired by an established mine builder with experience in the region, such as Agnico Eagle Mines (TSX: AEM; NYSE: AEM), Eldorado Gold (TSX: ELD; NYSE: EGO, or Iamgold (TSX: IMG; NYSE: IAG), Allan said.
The new assays should lower the overall strip ratio when the project updates a prefeasibility study later this year, the analyst said. It will incorporate an updated resource estimate for the Courvan and Pascalis deposits due next month.
