Probe Gold Inc (PROBF)

Description:

Probe Mines Limited is a Canadian base and precious metal exploration company. The company has a portfolio of high quality projects in a number of Canada's most important exploration plays. The Company's strategy is to aggressively explore its key assets to maximize shareholder value. The Company's current focus is the Borden Lake gold project located near Chapleau, Ontario. It is a significant, new gold discovery in a previously unexplored area located within one kilometre of a major highway. The project has the potential for a low-grade, bulk tonnage deposit, potentially suitable for open-pit mining. In Northern Ontario,the McFauld's Lake projects include Probe's high-grade Black Creek Chromite Deposit. An NI 43-101 resource estimate has been completed on the project and the deposit includes a measured and indicated 8.645 million tonnes averaging 37.41% Cr2O3 and an additional inferred 1.6 million tonnes averaging 37.78%. The Victory Project has excellent potential for base metal deposits and the Tamarack Project also hosts a rich Cu discovery and has potential for vanadium and base metal mineralization. Probe has a Joint Venture with Lake Shore Gold in the Timmins Gold Camp. The property is adjacent to Lake Shore's 1.2M ounce Timmins Mine Project and less than 800 metres from Lake Shore's recent high-grade gold intersections in the Rusk Zone on the Thunder Creek Joint Venture. The Company also has an interest in the grassroots Cree Lake gold project near Timmins, Ontario. The Company maintains a 5% gold production royalty on a portion of Agnico-Eagle's Goldex Mine in Val d'Or, Quebec.